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

BLOOMBERG Southwest Airlines Co said it has forged a two-decade agreement to buy as much as 680 million gallons of renewable jet fuel, part of the US carrier’s goal of slashing climate-polluting emissions. The sustainable aviation fuel (SAF) will be sold by Arizona-based USA BioEnergy LLC starting as early as 2028, Southwest said in a statement. USA BioEnergy is working ...

BLOOMBERG Warren Buffett’s Berkshire Hathaway Inc plans to sell yen-denominated corporate bonds for the second time this year, according to lead underwriter Mizuho Securities Co. The company is considering issuing the bonds in the near future, and sales will be limited to qualified institutional investors in Japan, according Mizuho, which said that itself and BofA Securities Japan Co will manage ...

BLOOMBERG Stocks edged lower as investors awaited clues on the path of interest rates from a raft of central bank officials including Federal Reserve Chair Jerome Powell.  Europe’s Stoxx 600 fell 0.1% and US equity futures traded little changed. The 10-year Treasury yields climbed by three basis points to 4.6%. West Texas Intermediate held at $77, near a three-year low. ...

ABU DHAB/ WAM The UAE has sent a further five planes carrying supplies and equipment to support the construction of a field hospital in the Gaza Strip, bringing to 16 the total number of aircraft sent as part of the UAE’s Gallant Knight 3 humanitarian operation. The cargo of these planes will be unloaded in the Egyptian city of El ...

ABU DHABI/ WAM Abu Dhabi Islamic Bank (ADIB), a leading financial institution, announced today that it has successfully raised USD 500 million via a green Sukuk offering, marking the world’s first ever green USD sukuk issued by a financial institution. ADIB, which is rated A2 by Moody’s and A+ by Fitch, in each case with a stable outlook, priced the ...

ABU DHABI/ WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, affirmed that the UAE government adopts a proactive approach to meet the requirements of the development march. His Highness Sheikh Mohammed bin Rashid Al Maktoum added: “A year ago, we launched ‘We the UAE 2031’… More than 152 federal government projects ...

ABU DHABI/ GULF TIME Today marks the grand opening of the 1st Regional Great Audit Minds (GAM) Conference 2023 in Hilton Abu Dhabi Yas Island Hotel, and concludes on November 8, 2023. The event commenced with great fanfare and was attended by a host of dignitaries, industry leaders, and over 1,300 professionals from around the globe, signaling a milestone in ...

DUBAI/ GULF TIME Research suggests that coffee industry is expected to grow at a CAGR of 8.3% during the forecast period of 2021-2027. According to a report by Fanack, coffee consumption in the Middle East amounts to $7 billion per year, which will account for over AED25 billion, and the estimated coffee consumption per person stands at 3.5 kilos per ...

DUBAI/ WAM Chaired by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, the UAE Government Annual Meetings kicked off today, in Abu Dhabi in the presence of more than 500 dignitaries, ministers, and senior officials at the federal and local levels. In his statement during the inaugural day of the UAE Government ...

ABU DHABI/ WAM AD Ports Group (ADPORTS) today announced the purchase of 10 offshore vessels that will bolster offshore operations in the Middle East and Southeast Asia. The investment is around US$200 million into a well-maintained, diversified fleet with an average age of around 9 years, significantly less than the industry average. All ten vessels are expected to be delivered ...