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

Egypt / Emirates Business As part of its route expansion strategy, Air Arabia Egypt launched a new route linking Sohag in Egypt to Kuwait. The new flights operate three times a week, on Tuesdays, Wednesdays and Thursdays, departing from Sohag International Airport (HMB) at 2340 hours and arriving in Kuwait International Airport (KWI) at 0305 hours the following day. The ...

LONDON / Reuters Struggling British flooring retailer Carpetright said it would seek creditor approval for a restructuring plan to close 92 stores and reduce rents at 113 of its sites, resulting in about 300 job losses. Shares in Carpetright, which has in recent months issued a series of profit warnings because of weak UK retail spending and what it calls ...

DUBAI / Emirates Business More than 1 million Tons of Carbon Dioxide will be abated by 2030 and 1.7 TWh of electricity will be saved by the same year in Dubai, according to the new targets revealed by Dubai’s Etihad Energy Services Company, Etihad ESCO, at the 4th annual RetrofitTech Dubai Summit & Awards which began on Wednesday. The event ...

Dubai / Emirates Business Mashreq Bank, the UAE’s leading financial institution, has established a $1 billion multi-currency Certificate of Deposit Programme (CD programme) in Hong Kong. The CD programme, which aims to provide access to new liquidity pools in Asia-Pacific, is offered in multiple currencies. The launch of the programme highlights Mashreq’s growth in Asian markets given the positive momentum ...

Dubai / Emirates Business Emirates SkyCargo, the world’s largest international cargo airline, has launched Emirates AOG – a new airfreight product designed for transporting aircraft parts quickly across the globe. Every day, spare parts are airfreighted at short notice to help repair aircraft that have been stranded due to technical reasons and lack of availability of the right spare part. ...

Dubai / Emirates Business Global air services provider dnata on Wednesday announced it has signed an agreement to acquire Qantas’ catering businesses. The agreement is subject to approval from the Australian Competition and Consumer Commission (ACCC). Qantas’ catering businesses include wholly-owned subsidiaries Q Catering Limited and Snap Fresh Pty Limited. Q Catering has centres in four Australian ports – Sydney, ...

Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, received on Wednesday the Director of the US Federal Bureau of Investigation (FBI), Christopher A. Wray. HH Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, was also present during the meeting. His Highness Sheikh ...

Abu Dhabi / WAM The UAE Cabinet reviewed the achievements of the national media sector and its contribution to UAE’s development and the Government’s objectives of UAE Centennial Strategy 2071. The Cabinet approved the formation of the Board of Directors of the National Media Council (NMC), in line with the government’s continuous efforts to enhance working methods and performance. The ...

Abu Dhabi / WAM Saturday, April 14, has been declared an official paid holiday for all workers in the UAE’s private sector establishments, institutions and companies, to mark Al Isra’a Wal Mi’raj. The declaration was announced in a note issued by Nasser bin Thani Al Hamli, Minister of Human Resources and Emiratisation, to implement a related decision by the UAE ...

Abu Dhabi / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, asserted that the UAE has chosen to adopt the development of ‘Future Industry’ in various aspects as means of development on its way of becoming a world leader in adopting technology. Comments by His Highness Sheikh ...