The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.

DUBAI / WAM Saeed Mohammed Al Tayer, MD and CEO of Dubai Electricity and Water Authority (Dewa), announced that the pumped-storage hydroelectric power plant site Dewa is building in Hatta, with a planned production capacity of 250 megawatts (MW), a storage capacity of 1,500 megawatt-hours, and a life span of up to 80 years, is 74% complete. This came during ...

TOKYO / WAM An official from the Japan Cooperation Centre for the Middle East (JCCME) said the relations between Japan and the United Arab Emirates are solid, stressing that the two countries are closely linked in a wide range of fields from oil to culture and prospects for future cooperation are looking good. In an interview with the Emirates News ...

ABU DHABI / WAM The Ministry of Foreign Affairs signed a protocol amending a memorandum of understanding to waive pre-entry visas between the UAE and Armenia for stays of up to 90 days, facilitating the movement of citizens of the two countries. Under the protocol, the amendment added special, official and ordinary passports for both countries, provided that the protocol ...

RAS AL KHAIMAH / WAM His Highness Sheikh Saud bin Saqr Al Qasimi, Supreme Council Member and Ruler of Ras Al Khaimah, on Tuesday received at his Palace at the Saqr bin Mohammed City, Jamal Al Ghunaim, ambassador of Kuwait to the UAE. During the meeting, Sheikh Saud wished the Ambassador success in performing his duties and enhancing UAE-Kuwait relations. ...

ABU DHABI / WAM Agthia Group, one of the region’s leading food and beverage companies, held its general assembly meeting virtually on Tuesday. During the meeting, shareholders approved the board’s proposed interim cash dividend of 8.25 fils per share (AED65.31 million) for the six months ending June 30, 2023. Khalifa Sultan Al Suwaidi, Chairman of Agthia Group, stated, “Our interim ...

SHARJAH / WAM In conjunction with the UAE’s role as host for the COP28 climate conference, the Sharjah Private Education Authority (SPEA), has unveiled an ambitious plan to convert 25 percent of schools and nurseries in Sharjah into environmentally conscious educational institutions by the end of 2024. This transformation will be achieved by launching the innovative “Green Schools and Nurseries” ...

DUBAI / WAM Abdullah bin Sultan bin Awad Al Nuaimi, Minister of Justice and Chairman of the National Committee to Combat Human Trafficking (NCCHT), on Tuesday inaugurated the ninth edition of the ‘’Diploma Programme for Specialists of Combating Human Trafficking”. The programme was organised by the NCCHT and the Dubai Police, in collaboration with the Dubai Judicial Institute and the ...

BLOOMBERG Tech stocks were in retreat as Oracle Corp posted slowing cloud sales, while the euro and pound weakened on concern the Europe faces a growing threat of stagflation. Nasdaq 100 Index futures slipped 0.3%, signalling the index will pare September 11’s 1.2% rally. In Europe, packaging company Smurfit Kappa Group plunged 11% after it announced a deal to combine ...

BLOOMBERG As weakness in the yen looks set to continue into next year, prospects for gold priced in the Japanese currency have rarely looked so good. Japanese investors with exposure to yen—denominated bullion have earned themselves healthy returns so far this year, with domestic prices for the precious metal now hovering around a record high of 10,000 yen per gram ...

ABU DHABI / WAM Louvre Abu Dhabi’s newest exhibition, Letters of Light, featuring some of the oldest texts of the three monotheistic religions, will open on 13th September 2023. Held in partnership with Bibliothèque nationale de France and France Muséums, Letters of Light explores the historical context in which the holy books emerged, the way they have been passed down ...