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

Dubai / Emirates Business In a study of the best Global Free Zones by fDi Magazine – a publication from the Financial Times – Dubai Multi Commodities Centre, UAE and Amata City Chonburi, Thailand has been awarded the top prizes in the Global Free Zones of the Year 2018. The DMMC saw almost 2000 new businesses established in 2017. The ...

Dubai / WAM His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, on Monday inaugurated the Dubai Investment Week 2018, hosted by Dubai FDI, the investment development agency of the Department of Economic Development (DED). Organised under the theme ‘Investing in Future Transformations,’ the event explores the prospects for strengthening local and international partnerships for ...

Abu Dhabi / WAM Under the patronage of His Highness Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, the second edition of the Mohamed Bin Zayed Majlis for Future Generations opened on Monday at the Abu Dhabi National Education Centre (Adnec). The two-day event kicked off with an ...

Abu Dhabi / WAM The UAE Dirham has continued to appreciate in Q2 2018 against the currencies of the country’s top 10 non-dollarised trade partners, according to Central Bank of the UAE statistics. From the import side, the weighted Dirham’s appreciation against its top-10 non-dollarised import partners, which claim 52.3 percent of the UAE total imports, was 1.3 percent, with ...

Dubai / WAM Mohammed bin Rashid Housing Establishment (MRHE), has called on companies in the real state sector to participate in the second housing, building materials, decoration and engineering consultancy exhibition, Decobuild 2018, to take place from November 7-10 in Dubai. The Establishment is encouraging companies that specialise in building and construction materials, contracting companies, engineering consulting firms, interior design ...

Bloomberg The world must invest $2.4 trillion in clean energy every year through 2035 and cut the use of coal-fired power to almost nothing by 2050 to avoid catastrophic damage from climate change, according to scientists convened by the United Nations. Their report published on Monday adds pressure on policymakers and businesses to step up their response to global warming, ...

Bloomberg Hyflux Ltd., the embattled Singapore water-treatment and power company, is in advanced talks with at least two potential investors about taking a strategic equity stake in the group as part of a restructuring plan. The discussions with these investors are taking place concurrently with efforts to sell its desalination plant known as Tuaspring, its legal adviser WongPartnership LLP said ...

Bloomberg Macquarie Group Ltd. has agreed to invest in a wind and solar power development in Australia’s Pilbara region, which will provide electricity to mines and mineral processing operations in the region. The Asian Renewable Energy Hub has also increased its planned generation capacity to more than 11 gigawatts, from 9 gigawatts, according to a statement on Monday on the ...

Bloomberg The run-up to $100 oil is giving some investors pause.This year’s longest buildup of hedge-fund bets on higher Brent crude prices is faltering, with bulls retreating for the first time in six weeks. After fears of dramatic shortfalls from Iran sent the global benchmark on a tear and triggered speculation that it will reach three digits, the rally is ...

Bloomberg Chinese investment in Australia plunged 40 percent in 2017 from the year before, according to research released on Monday. After peaking in 2016 at A$14.9 billion ($10.5 billion), investment from Chinese companies last year slumped to A$8.9 billion, according to the Australian National University database. In 2017, Chinese deals in Australia’s mining sector accounted for just over half of ...