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

ABU DHABI / WAM The market capitalisation of companies listed at Abu Dhabi Securities Exchange (ADX) increased 2.1 percent during 2017, to AED485 billion by the end of the year from AED475 billion by the end of 2016. In a report issued on Saturday, ADX said the market cap of listed domestic firms rose to AED457 billion, an increase of ...

Abu Dhabi / WAM The Federal Tax Authority (FTA) has called on UAE citizens and residents to be “wary of uninformed and unreliable sources of information who are circulating misleading information around the introduction of VAT in the country.” The FTA emphasised in a statement on Saturday on the importance of referencing and checking accurate sources of information, such as ...

Bloomberg King Salman ordered extra pay for Saudi government workers and soldiers this year after the implementation of value-added taxation and a surge in fuel prices stirred grumbling among citizens. Royal orders issued early on Saturday restored an annual pay raise for Saudi civil servants, suspended as part of attempts to rein in a hefty public-sector wage bill. The king ...

Bloomberg Oil had its strongest opening week for any year since 2013 as refiners and exporters whittled away at crude inventories tucked away in US storage tanks. Futures rose 1.7 percent this week in New York. The pull on oil stockpiles in the world’s biggest economy accelerated to 7.42 million barrels last week, a level last seen in early August. ...

RAS AL KHAIMAH / WAM His Highness Sheikh Saud bin Saqr Al Qasimi, Supreme Council Member and Ruler of Ras al-Khaimah, has emphasised that the achievements of His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, have become a milestone in the life of Emiratis. He added ...

Abu Dhabi / WAM The Abu Dhabi City Municipality (ADM) has accomplished the illuminated kerbstone trial project at Al Mina, constructed by the Capital of Construction for General Contracting Company at its own expenses, as part of the Year of Giving initiative. ADM avails the opportunity to companies and individuals to take part in these initiatives to boost the principles ...

Copenhagen / WAM Fatima Khamis Al Mazrouei, UAE Ambassadress to Denmark, has attended the annual reception hosted by Queen Margarethe II of Denmark on the occasion of the advent of the New Year. The UAE ambassadress met with Her Majesty the Queen of Denmark and conveyed the New Year greetings of President His Highness Sheikh Khalifa bin Zayed Al Nahyan, ...

Dubai / WAM Mattar Al Tayer, Director-General, and Chairman of the Board of Executive Directors of Roads and Transport Authority (RTA), has endorsed the launch of 20 initiatives by the RTA to mark the Year of Zayed. The move is in response to directives of President His Highness Sheikh Khalifa bin Zayed Al Nahyan, declaring 2018 as the Year of ...

Dubai / Emirates Business Dubai Electricity and Water Authority (DEWA) organised the 11th Solar PV Expert training for specialised consultants and contractors. A total of 378 engineers and technicians received Solar PV Expert Certification by 2017 end. This is part of DEWA’s commitment to ensuring that the design and installation of solar PV (photo-voltaic) panels in buildings is done according ...

Dubai / Emirates Business His Excellency Dr Thani bin Ahmed Al Zeyoudi, Minister of Climate Change and Environment, met members of Kalba Fishermen Association and Kalba Creek Fishermen Association. During the meeting in Kalba, he emphasized the importance of preserving the fish stock in the UAE and protecting fishing, one of the oldest professions in the region. His Excellency Dr ...