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

Bloomberg Two of Airbus SE’s flagship A380 superjumbos are headed for the scrapheap after a search for new operators failed to secure firm bids. Negotiations with British Airways, Iran Air and Hi Fly, a Portuguese charter specialist, ended with no deals struck, German investment fund Dr. Peters, which manages the planes, said in a statement to shareholders. The double-decker jets, ...

DUBAI / WAM The Ministry of Climate Change and Environment (MoCCAE) is introducing a new project to survey and map agricultural areas using unmanned aerial vehicles or drones. MoCCAE invited several professional drone companies in the UAE to carry out the pilot phase of the project. Commencing in the second week of June, this phase will include surveying and mapping ...

SHARJAH / WAM Saud Salem Al Mazrouei, Director of the Hamriya Free Zone Authority and the Sharjah International Airport Free Zone Authority, signed an investment agreement with Ramesh Parekh, Chairman of Gandhar Oil Refinery India, to establish an integrated project to produce white oil, liquid paraffin, hydraulic liquid, transformer oil, rubber processing oil, motor oil and industrial oil. The agreement ...

ABU DHABI / WAM Abu Dhabi Islamic Bank (ADIB) announced the launch of a 100 percent capital protected cloud technology equities basket note, designed to capture the growth in the cloud computing industry. The investment note matures in 12 months and provides 100 percent capital protection at maturity to minimise investment risk. The note opens for subscription until June 23, ...

ABU DHABI / Emirates Business Raytheon Emirates, a wholly owned subsidiary of Rayt-heon Company, announced that it has signed a long-term lease with Mubadala Investment Company (Mubadala), establishing its new UAE headquarters at Abu Dhabi Global Market Square. Located in Al Maqam Tower, the new location will be nearly 1,837 square meters once it is completed and ready for occupancy ...

ABU DHABI / WAM Saif Badr Al Qubaisi, General Manager of Abu Dhabi City Municipality cum Head of Technology Committee in Department of Urban Planning and Municipalities, revealed that 11 new digital services have been launched across the municipalities of Abu Dhabi (Abu Dhabi City Municipality, Al Ain Municipality and Al Dhafra Municipality). The step is part of a leading ...

ABU DHABI / WAM HH Sheikha Fatima bint Mubarak, Chairwoman of the General Women’s Union, President of the Supreme Council for Motherhood and Childhood, and Supreme Chairwoman of the Family Development Foundation, has said that the memory of the late Sheikh Zayed bin Sultan Al Nahyan is a milestone in the history of the UAE, as he was an exceptional ...

Dubai / Emirates Business Gulf Craft appointed Gregory Yeakle to be their new Chief Executive Officer. One of the world’s largest luxury ship builders, Gulf Craft is based in the UAE. The group has grown into a leading global business over the course of the past 37 years. He succeeds Erwin Bamps who held the position for the past four ...

Sharjah / Emirates Business In the esteemed presence of HE Sheikh Fahim Al Qasimi, the Sharjah Entrepreneurship Center (Sheraa) showcased its newest cohort in front of leading investors, key opinion leaders and heads of government entities, and announced the winner of the $50,000 Accelerator Program Grant at a Ramadan majlis. The grant was awarded to Solva Technologies, a tech startup ...

Dubai / Emirates Business To mark World Environment Day, DMCC, the world’s flagship Free Zone, and the leading trade and enterprise hub for commodities, announced a partnership with Duracell, the world’s leading manufacturer of high-performance alkaline batteries, to encourage employees to recycle their used batteries. The partnership sees the rollout of designated collection battery bins across the 66 towers of ...