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

Bloomberg Sports Direct International Plc investors have been left counting the cost of billionaire founder Mike Ashley’s wheeling and dealing. The UK sportswear retailer reported a 73 percent decline in full-year pretax profit. The drop was mainly due to a one-time charge of 85.4 million pounds ($111 million) related to its investment in struggling department store chain Debenhams Plc. Sports ...

Bloomberg Bombardier Inc. said Uganda Airlines signed a firm order for four new CRJ900 jets as the East African nation seeks to resuscitate its moribund carrier after two decades. The country also signed a memorandum of understanding for two A330neo, Airbus SE said in a statement on its website, without providing cost details. “Based on the list price for the ...

ABU DHABI / WAM The UAE and China have agreed to enhance cooperation in all fields to higher levels and forge overall strategic partnerships, which would contribute to cementing and intensifying cooperation, boost joint development and prosperity, which is consistent with the common interest of both countries and their peoples. The two countries in a joint statement issued on the ...

HODEIDAH / WAM Since June 20, the UAE has provided 18,943 food baskets in addition to 432 boxes of mineral water to protect public health and prevent any diseases caused by non-potable water distributed to 27 districts and areas in Hodeidah. A total of 132,601 Yemenis benefitted from the assistance including, 94,715 children and up to 19,000 women. This has ...

Dubai / Emirates Business Small businesses in the UAE continue to show resilience amidst challenging economic times, underscores the two-year compounded growth rate of 100% reported by the finalists of the 2018 Gulf Capital SME Awards. A total of 97 finalists have been shortlisted this year, with 11% increase in entries compared to 2017, highlighting another banner edition of MEED’s ...

Dubai / WAM The Dubai Roads and Transport Authority (RTA), has launched the third and final phase of vehicle e-registration, enabling individuals to replace their existing vehicle registration cards with lifetime e-registration, as of August 1, this year. The RTA launched the initial phase of the service last January for government vehicles, car rental companies, and taxis. Phase II kicked off ...

Dubai / WAM The Department of Economic Development – Ajman (DED-Ajman) and the emirate’s Department of Land and Real Estate Regulation announced the signing of a new partnership agreement aimed at adopting and implementing new e-link services. The services, which are part of the ongoing ‘Single Window Project,’ will provide customers with a faster and more efficient way to apply ...

Abu Dhabi / WAM The Abu Dhabi Investment Office on Saturday announced the signing of a Memorandum of Understanding (MoU), with the Office of the Chinese Business Council, at a meeting attended by Saif Mohamed Al Hajeri, Chairman of the Abu Dhabi Department of Economic Development. The agreement provides for both parties to strengthen their inter-institutional cooperation and exchanges and ...

Abu Dhabi / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, hosted a banquet in honour of the Chinese President Xi Jinping, on the occasion of his historic visit to the UAE, at Qasr Al Bahr in Abu Dhabi. Sheikh Mohamed expressed his pride in ...

LONDON / WAM His Highness Dr Sheikh Sultan bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Sharjah, signed a contract to establish the first phase of a new botanical garden in Sharjah. The signing ceremony was held in the British capital, London, in the presence of officials. Located adjacent to Sharjah New Mosque at the Sharjah – Kalba ...