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

RIYADH / WAM The Gulf Cooperation Council for Arab States’ (GCC) Unified Selective Excise Tax and the Unified Value Added Tax (VAT) agreements, have come into effect after ratification by the UAE. The General Secretariat of the (GCC) has received the UAE’s ratification documents for the two agreements. In a statement, the Secretariat, said, “The UAE is the second State ...

ABU DHABI / WAM The mood of affluent investors in the UAE market has improved as compared to the last year, according to the First Abu Dhabi Bank’s index measuring impression of wealth holders. The index rose by 1.87 percent to 1038.28 points from 1019.13 points in April 2016, reflecting the positive mood prevailing toward country’s business environment. The index ...

Bloomberg Prime Minister Theresa May vowed to combat the “ideology” behind Britain’s worst terrorist attack in 12 years after a suicide bombing killed 22 people at a pop concert. IS claimed responsibility. Campaigning for next month’s general election was suspended indefinitely. In her first public appearance since the bombing, May said many children died in an act of “cold calculation” ...

Bloomberg South Korea’s military fired warning shots across the military demarcation line at an unidentified object flying on Tuesday afternoon, as tensions remained high on the peninsula days after another North Korea missile test. The military is analyzing the object’s flight path, South Korea’s Joint Chiefs of Staff said in a text message. Yonhap News reported that South Korea fired ...

Bloomberg An Indian fighter jet has gone missing near the India-China border after taking off from an air force base in northeastern India, according to an Indian Air Force official. The Sukhoi SU-30 aircraft had taken off on a routine training mission when radar and radio contact was lost roughly 60 kilometers north of an air force base in Tezpur, ...

Baku / WAM The UAE and Azerbaijan have confirmed the strength of their bilateral relations and stressed the importance of promoting co-operation in all economic, tourism, agricultural, health and transportation fields, as well as investments, petrochemical industries and financial and banking services. This was stated in a joint statement issued by H.H. Sheikh Abdullah bin Zayed Al Nahyan, Minister of ...

Abu Dhabi / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, Deputy Supreme Commander of the UAE Armed Forces and Chairman of the Executive Council of Abu Dhabi, issued a resolution reshuffling the Emirates Foundation Board, with HH Sheikh Abdullah bin Zayed Al Nahyan as Chairman. The resolution names HH Sheikh Dhyiab bin Mohamed ...

Abu Dhabi / WAM As part of its endeavours to enhance economic communications with economic development partners, Abu Dhabi Department of Economic Development (ADDED) on Tuesday organised the “Economic Development Partners – Abu Dhabi Plan” Forum with more than participating 40 local and federal government entities. The forum is aimed to facilitate the implementation of projects and initiatives under the ...

Dubai / WAM A high-level business delegation from the UAE, led by Minister of State, Dr Sultan Ahmed Al Jaber, visited Finland on Tuesday to strengthen ties between the two nations. The team of government, business and Expo 2020 Dubai officials met Juha Sipila, Prime Minister of Finland, and Mika Lintila, Finland’s Minister of Economic Affairs. Dr. Al Jaber was ...

Abu Dhabi / Emirates Business More than 9.8 million people were employed in the renewable energy sector in 2016, according to a new report from the International Renewable Energy Agency (IRENA). Renewable Energy and Jobs – Annual Review 2017, released at IRENA’s 13th Council meeting, provides the latest employment figures of the renewable energy sector and insight into the factors ...