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

Bloomberg United Bank of India became the first of the country’s ailing state-run banks to announce a new cash injection from the government, disclosing in a filing that it will receive 21.6 billion rupees ($308 million) to improve its capital ratios. The announcement sent the bank’s shares up as much as 14 percent, set for the biggest gain since October ...

Bloomberg Swiss National Bank (SNB) interest rates are stuck to the floor and 2019 could see criticism of the policy growing louder: The financial sector hates it and there’s trouble brewing in the real estate market. After nine years of economic growth and the eradication of deflation risks, the arguments are building for the SNB to call time on the ...

ABU DHABI / WAM The Abu Dhabi Department of Culture and Tourism has made many achievements, in light of the emergence of specialist tourism trends and its efforts to improve local tourism infrastructure and to inaugurate new attractions that combine originality, modernity and hospitality. These achievements have positively affected the number of visitors to the emirate and its hotel occupancy ...

TOKYO / WAM Japan has imported 26.528 million barrels of crude oil from the UAE in November 2018, data released on Sunday by the Agency for Natural Resources and Energy in Tokyo showed. This accounts for 28.3 percent of Japan’s total crude imports, the agency that belongs to the Ministry of Economy, Trade and Industry, reported. Japan’s total crude oil ...

Abu Dhabi / WAM The net international reserves in the UAE banking sector hit an all-time high of AED404.3 billion by the end of November, up 23.1 percent of AED76 billion from AED328.3 billion during the same month last year, according to central bank figures. The remarkable growth in net international reserves reflects the distinctive financial and economic status boasted ...

Abu Dhabi / WAM The export unit value index in the emirate of Abu Dhabi was up 10.7 percent to 88.3 percent during Q3, against 79.8 percent during the same period in 2017, according to Statistics Centre — Abu Dhabi (SCAD). In the meantime, the import unit value index declined 4.8 percent to 106.3 from July through September 2018 from ...

DUBAI / WAM The representation of UAE nationals, both males and females, in the UAE Internal Auditors Association (UAE IAA), will be 44 percent in the coming years, according to its chairman. “Emiratis to account for 44 percent in internal auditing in the coming years,” Abdulqader Obaid Ali said at an honouring ceremony for graduates of the 8th batch of ...

DUBAI / WAM Nasser bin Thani Al Hamli, Minister of Human Resources and Emiratisation, has said that the Ministry, in collaboration with its strategic partners, continues to implement Emiratisation policies, programmes and initiatives to attract UAE nationals and enhance their skills to enable them to lead the economic sectors, including the financial and banking industry. He made these remarks during ...

ABU DHABI / Emirates Business In a tribute to the founding father of the UAE, late Sheikh Zayed bin Sultan Al Nahyan, the Government of Jordan on Sunday renamed the AED550 million ($150 million) Quweira Solar Power Plant, funded by Abu Dhabi Fund for Development (ADFD), as Sheikh Zayed Solar Power Complex. Speaking on the occasion, HE Mohammed Saif Al ...

Abu Dhabi / WAM Abu Dhabi Securities Exchange (ADX), received the ‘IBMC UAE-India Business Excellency Award 2018’. The award is a top international recognition that honours business excellence in India and the UAE. The award ceremony took place at Emirates Palace hotel, as part of the closing ceremony of the second edition of the ‘IBMC UAE-India Business Fest’. The ten-month ...