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

DUBAI / WAM DP World expects to add 3 million Twenty-Foot Equivalent Units (TEUs) of new container handling capacity by the end of the year, adding much needed infrastructure and capacity to boost global supply chain resilience. The global trade enabler currently manages approximately 9% of the world’s handling capacity, putting it among the top five global port operators. The ...

SHARJAH / WAM His Highness Dr Sheikh Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, approved a 30 percent discount for students who were not included in the scholarships at the Sharjah Maritime Academy (SMA).

RAS AL KHAIMAH / WAM The American University of Ras Al Khaimah (AURAK) has been awarded the QS 5 Stars Plus rating, placing it in the league of a handful of the world’s elite universities. It is the first university in the UAE to be awarded this highest rating. The award of the rating followed a rigorous and independent data ...

ABU DHABI / WAM Launched by HH Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of Abu DhabiExecutive Council in June 2022, the Abu Dhabi Industrial Strategy (Adis) has accelerated the transformation of the emirate’s manufacturing sector, strengthening its position as the region’s most competitive industrial hub within its first year. Increased activity ...

ABU DHABI / WAM HH Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of Abu Dhabi Executive Council, on Tuesday received HH Sheikh Tahnoun bin Mohammed Al Nahyan, Abu Dhabi Ruler’s Representative in Al Ain Region, during a visit to Adnoc’s headquarters to review the company’s efforts in advancing the growth of the ...

BLOOMBERG Japan’s currency dropped towards a level that triggered the first yen-buying intervention since 1998 in September, prompting a top official to voice concern. Finance Minister Shunichi Suzuki said authorities are watching the currency’s trends with a high sense of urgency and will take steps if excessive moves are seen. His comments caused the yen to rise a bit, trading ...

BLOOMBERG Stocks and bonds declined as concern grew that China’s faltering recovery and debt problems will spread to the global economy. Instead of reassuring investors, China’s surprise rate cut only deepened anxiety about policy steps to revive growth, driving Europe’s Stoxx 600 index down as much as 1.2% to the lowest in a month. US equity futures pointed to a ...

ABU DHABI / WAM Before President His Highness Sheikh Mohamed bin Zayed Al Nahyan, Sheikh Zayed bin Khalifa bin Sultan bin Shakhboot Al Nahyan, the UAE’s ambassador-designate to Qatar, and Salem Ibrahim bin Ahmed Mohamed Al-Naqbi, the UAE’s ambassador-designate to Kenya, took their oaths on Monday. During the oath-taking ceremony at Qasr Al-Shati, His Highness the President wished the two ...

ABU DHABI / WAM Adnoc and the National Central Cooling Company (Tabreed), today announced a breakthrough in the first project in the gulf region to harness geothermal energy following the conclusion of testing on two geothermal wells at Masdar City in Abu Dhabi. The landmark project is set to decarbonise the cooling of buildings in Masdar City, further diversify the ...

ABU DHABI / WAM The COP28 Presidency has announced that it will convene the Independent High-Level Expert Group (IHLEG) on Climate Finance in the UAE this week to drive progress on steps to reform international finance ahead of COP28. The two-day meeting — taking place on August 15 at the Abu Dhabi Global Markets (ADGM) — will bring together world-leading ...