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

FUJAIRAH / WAM The National Bank of Fujairah (NBF) on Sunday approved a distribution of profits of 15 percent of paid-up capital. This took the form of cash dividends of 7.5 percent, AED102.5 million, and bonus shares of 7.5 percent, AED102.5 million, of paid-up capital. The bank’s shareholders also approved the Chairman’s and Directors’ Reports, and the Sharia Supervisory Board ...

DUBAI / Emirates Business Pressure is mounting on regional banking and financial institutions to accelerate the adoption and digitisation of processes as the dem-and for cutting-edge online bank- ing from millennial consumers continue to rise. In order to remain competitive, swift response to the evolving consumer needs is paramount as more and more customers are now expecting their respective banks ...

DUBAI / Emirates Business Azizi Developments, one of the leading private developers in the UAE, has announced that its most ambitious project till date — a commercial and residential tower that will add to Dubai’s iconic skyline — will commence construction in the third quarter of 2018. The 122-storey building will stand at approximately 570m tall on Sheikh Zayed Road ...

DUBAI / WAM Nasdaq Dubai on Sunday welcomed the listing of a $1.25 billion sukuk by the Islamic Development Bank (IDB), whose activities include financing development projects for its 57 member countries. The listing brings the number of Sukuk listings by the IDB on the exchange to nine with a total value of US$11.5 billion, making it one of the ...

Dubai / WAM YouTube announced on Sunday the opening of the Middle East and North Africa (MENA)’s first YouTube Space at Dubai Studio City, a facility dedicated to supporting the growing creator community in the MENA region by giving them access to a state of the art production space. The Space, 10th in the world, is dedicated to YouTube content ...

Dubai / WAM Accenture, in collaboration with SAP, has implemented SAP S/4HANA for Expo 2020 Dubai that will provide the expo with a foundation for data-driven insights, from visitor preferences to sustainability. The new digital platform transforms back-office and visitor-facing capabilities for the global mega event, which is expected to host 25 million visits over six months from October 2020. ...

Paris / WAM Noura Al Kaabi, Minister of Culture and Knowledge Development, and Laurent Gavio, Director of “The Lab” at the Google Cultural Institute in Paris, discussed ways of promoting cooperation between “The Lab” and creative platforms in the UAE. The meeting took place during Al Kaabi’s visit to the French capital, Paris, as part of the UAE delegation participating ...

Abu Dhabi / WAM The Federal Tax Authority (FTA), has urged all consumers in the UAE to request tax invoices from retailers when purchasing products or services subject to Value Added Tax (VAT), to prevent attempts to manipulate the tax system. The Authority urged all taxable businesses to issue tax invoices when providing any supply, in order to avoid administrative ...

Abu Dhabi / WAM The UAE is set to join countries from around the world for the biggest environment event of the year ‘Earth Hour’, a landmark drive introduced by World Wildlife Fund (WWF), in 2007. The initiative has become known as the world’s largest grassroots movement for the environment, bringing over 7,000 cities, as well as 180 countries and ...

Cairo / WAM President of Egypt, Abdel Fattah El Sisi, received His Highness Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, in Cairo on Sunday. During the meeting, attended by Sameh Shukry, Egyptian Foreign Minister, President El Sisi and Sheikh Abdullah discussed the brotherly relations between the UAE and Egypt, along with ways to enhance ...