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

ABU DHABI / WAM Adnoc has announced a final investment decision (FID) to develop one of the largest carbon capture projects in the Middle East and North Africa (Mena) region. The pioneering Habshan carbon capture, utilisation and storage (CCUS) project will have the capacity to capture and permanently store 1.5 million tonnes per annum (mtpa) of carbon dioxide (CO2) within ...

DUBAI / WAM The Federal Tax Authority (FTA) has launched a new series of events, including a set of specialised educational workshops, to promote tax awareness among school and university students as part of its comprehensive awareness campaign for this key sector. The events are scheduled to coincide with the start of the 2023/2024 academic year and aim to enhance ...

SHARJAH / WAM Sheikha Bodour bint Sultan Al Qasimi, Chairperson of Sharjah Book Authority (SBA), has affirmed that Sharjah is solidifying its status as a global cultural hub and serves as a reliable destination for all those seeking to discover Arab culture and its rich history and contributions to humankind. The SBA Chairperson also noted that the emirate’s cultural platforms ...

DUBAI / WAM Emirates NBD has launched its Sustainable Finance Framework as part of its long-term commitment to sustainability. The new framework allows for the issuance of green and sustainable debt instruments to finance projects, which enable the transition to a low-carbon and climate-resilient economy. The framework also provides the distribution of social debt instruments leading to a positive societal ...

ABU DHABI / WAM Abu Dhabi Exports Office (Adex), the export-financing arm of Abu Dhabi Fund for Development (ADFD), has signed a financing agreement with the National Bank of Egypt (NBE), reinforcing trade and economic relations between the UAE and Egypt. This landmark collaboration solidifies the longstanding bond between the two nations and showcases their commitment to mutual prosperity and ...

DUBAI / WAM Emirates has announced a third daily flight to Hong Kong, starting from  November 1. The additional flight, operated by a Boeing 777-300ER, will provide non-stop services between Dubai and Hong Kong and support the growing travel demand. Emirates is increasing services to 21 flights per week to meet market demand and offer customers greater flexibility, choice, and ...

NAIROBI / WAM The UN Refugee Agency’s Assistant High Commissioner for Operations, Raouf Mazou, and Director-General and Special Representative of COP28, ambassador Majid Al Suwaidi, have conducted a field visit to the Dadaab refugee complex during the Africa Climate Week (ACW) on the margins of their participation in the Africa Climate Summit (ACS) in Kenya. Representatives of the World Food ...

ABU DHABI / WAM HH Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs, received Luigi Di Maio, EU Special Representative for the Gulf region. Sheikh Abdullah and Di Maio reviewed friendly relations and ways to further develop cooperation between the UAE and EU countries in several sectors, including economic, trade, investment, energy and climate. The discussions covered the ...

BLOOMBERG United Airlines Holdings Inc suffered a temporary grounding of its aircraft nationwide due to a software update that caused a “widespread slowdown” in its technology systems. The Chicago-based carrier requested the grounding for its main operation and regional after its aircraft were unable to contact flight dispatchers using normal means, according to a posting on the Federal Aviation Administration’s ...

ABU DHABI / WAM Abu Dhabi Commercial Bank PJSC (ADCB) has announced that it has successfully priced a $650 million green bond, the proceeds of which will be used to finance eligible green assets as outlined in ADCB’s Green Bond Framework. Following an extensive global investor roadshow, the green bond priced at a spread of 125 bps above US treasuries ...