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

Bloomberg OPEC and allied oil producers including Russia concluded that the crude market re-balanced in April, when their collective production cuts achi- eved a key goal of draining the surplus in global stockpiles. The excess in oil inventories, which has weighed on prices for three years, plun-ged in April to less than the five-year average for stockpiles in developed nations, ...

DUBAI / WAM Saeed Mohammed Al Tayer, MD & CEO of Dubai Electricity and Water Authority (Dewa) received a delegation from the Finnish company, Valmet in the renewable energy sector. Saeed Mohammed Al Tayer welcomed the Finnish delegation and discussed enhancing cooperation and exchanging best international experiences and expertise between Dewaand Finnish companies in renewable, clean energy and environmental sustainability.

ABU DHABI / WAM The Government of the UAE and the Government of the Republic of Kiribati initiated an Air Services Agreement (ASA). Omar bin Ghaleb, Deputy Director-General of the General Civil Aviation Authority (GCAA) of UAE, and Willie Tokataake, Ministry of Information, Communication, Transport and Tourism Development, of Kiribati signed the MoU. Saif Mohammed Al Suwaidi, GCAA Director-General said, ...

ABU DHABI / SINGAPORE/ WAM Abu Dhabi Global Market (ADGM), and KPMG Lower Gulf Limited (KPMG LG), have announced the launch of the second edition of the FinTech Abu Dhabi Innovation Challenge. The inaugural Innovation Challenge, organised last year, generated strong interest among regional financial institutions about the potential benefits of collaborating with FinTech start-ups. As a result, this year’s ...

ADEN / WAM The Emirates Red Crescent (ERC), held an iftar at the Sheikh Zayed bin Sultan Al Nahyan Mosque in Aden Governorate, Yemen, as part of its Ramadan iftar project for the Holy Month of Ramadan. The ERC volunteer team provided Iftar meals at the mosque for hundreds of people who came for prayers. The worshippers who participated in ...

Dubai / WAM Dubai Culture has announced that it has earned the ISO/IEC 27001:2013 for establishing, implementing, maintaining and continually improving an information security management system within the organisation. The Authority received the certificate after passing a stringent audit process run by BSI Group – the national standards body of the United Kingdom that supplies certification and standards-related services to ...

Dubai / Emirates Business Index Holding announces the opening of its new branch in Singapore, due to its strategic location in the Asia-Pacific region and its strong economic and commercial ties with the UAE. Through its new branch, INDEX Holding aims to keep up its constant endeavor of supporting the UAE vision and strengthening its position in different parts of ...

Dubai / Emirates Business Azimut Yachts has marked one of its great achievements by being awarded from the World Superyacht Awards 2018. The award’s panel has rewarded the perfect intuition shown by the designers of the Grande 35 Metri, which satisfies the modern owner’s needs by offering plenty of space for life on board, both outdoors and below deck. The ...

Dubai / Emirates Business The Dubai Chamber of Commerce and Industry’s Centre for Responsible Business honoured community and community partners who participated in Give and Gain Week 2018 during a special ceremony at its premises. Give and Gain Week 2018 was organised under the ENGAGE Dubai corporate volunteering programme. The week-long event was the largest volunteering event to be organised ...

DUBAI / Emirates Business Almost three quarters (73%) of UAE workers feel they enjoy a healthy work-life balance thanks to the support and opportunities provided by their employers. That is based on over 1,000 respondents in a recent YouGov finding from a survey undertaken by leading global health insurance provider, Aetna International. Over a third (34%) of employees believe their ...