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

Bloomberg South Africa’s National Treasury has transferred funds to South African Airways (SAA) to help the state-owned airline avoid default on its debt to Standard Chartered Plc., according to a statement from the department on Saturday. “Government has decided to transfer funds from the National Revenue Fund to South African Airways to allow the airline to pay back its debt ...

Bloomberg Asian shipments of jet fuel to Europe are soaring this month as summer holiday travel picks up and freight costs decline. Cargoes of petroleum products bound for Europe from South Korea, Singapore and China are set to rise to at least 450,000 tons in July, vessel-tracking data show. That’s the highest level since Bloomberg started tracking the shipments in ...

CAIRO / Reuters Foreign ministers from the four Arab states leading the boycott of Qatar expressed disappointment on Wednesday with the tiny Gulf nation’s “negative” response to their demands, but did not announce new sanctions against Doha. “The response the four states got was overall negative and lacked any content. We find it did not provide a basis for Qatar ...

Dubai / WAM Dubai Electricity and Water Authority (DEWA) has launched a web application to help customers easily decide on the installation of photovoltaic (PV) panels on their rooftops to generate electricity from solar power. Introduced under the ‘Shams Dubai’ initiative, the application, dubbed ‘Shams Dubai Calculator’, will provide detailed comparisons and additional information to help consumers conveniently and smoothly ...

ABU DHABI / WAM Abu Dhabi Securities Exchange (ADX) declared its technical and logistical readiness to provide general clearing service, in a move to improve performance of financial markets in the UAE and promote them among global markets over the coming period. The Securities and Commodities Authority (SCA) had granted Emirates NBD, the license for the service after modifications on ...

Dubai / Emirates Business A UAE delegation headed by His Excellency Dr. Thani bin Ahmed Al Zeyoudi, Minister of Climate Change and Environment (MOCCAE), is taking part in the FAO Conference 40th Session, attended by His Excellency Saqer Nasser Al Raisi, UAE Ambassador to Italy and the Permanent Representative to the United Nations’ Agencies in Rome. The 40th Session of ...

Abu Dhabi / WAM Safety of tyres and passenger vehicles was the crux of a workshop organised recently by the Ministry of Economy (MoE) as part of ongoing collaboration among all state departments concerned at the local and federal levels to ensure consumer safety and protection against all forms of commercial fraud.. The workshop was organised in collaboration with the Emirates ...

Abu Dhabi / Emirates Business The Ministry of Health and Prevention (MOHAP) issued 11 warnings against the use of fake pharmaceutical products marketed as food supplements and sexual enhancement products for men. The products contain undeclared ingredients and pose a high risk to patients with heart disease, diabetes, dyslipidemia, and those taking drugs containing nitrate. Dr Amin Hussein Al Amiri, ...

Ras Al Khaimah / Emirates Business Unikai Foods PJSC, one of the largest Fast Moving Consumer Goods (FMCG) conglomerates in the Middle East and North Africa region, signed an agreement on with Ras Al Khaimah Economic Zone (RAKEZ) to establish its largest storage and distribution facility in the northern emirates. The signing ceremony was held in RAKEZ’s headquarters with Neeraj ...

Dubai / Emirates Business JLL, the world’s leading real estate investment and advisory firm, on Wednesday released its Q2 2017 Dubai Real Estate Market Overview report which assesses the latest trends in the office, residential, retail and hotel sectors. The retail sector continues to evolve and adjust in the light of the fast pace of technological advancements, with retail brands ...