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

  Bloomberg Chancellor Angela Merkel’s party won a state election in northern Germany, according to projections based on exit polls, handing her Social Democratic challengers their second straight defeat at the polls before the nation votes in September. The German leader’s Christian Democratic Union took 33 percent of the vote on Sunday to 26 percent for the Social Democratic Party, ...

  Bloomberg Afghanistan’s Interior Ministry denied a report by Pakistan that 50 Afghan forces were killed in a skirmish last week, a spokesman said on Sunday. The border fight erupted in the past few days in Kandahar province and ended with both sides announcing a cease-fire, Najib Danish, a spokesman to the Interior Ministry, said by phone. Pakistan’s army had ...

  ABU DHABI / WAM In yet another sign of the country’s resilient economic growth policy, the UAE’s non-oil foreign trade in 2016 hit AED1.564 trillion, a 1 percent growth over 2015, according to UAE Federal Customs Authority (FCA). Despite besetting economic pressures, the volume of UAE’s non-oil foreign trade, including direct trade and free zones’, increased to AED1.564 trillion in ...

  ABU DHABI / WAM The Executive Committee at the Executive Council of Abu Dhabi, headed by Jassem Bu Ataba Al Zaabi, Chairman of the Executive Committee, has approved several development projects valued at AED204 million and made a number of decisions on key issues and projects. The committee approved development works for the Saad-iyat Power Station with an overall ...

  RIDADH / WAM Anti-corruption and protection of business integrity will be the main topics of discussion at a meeting grouping anti- corruption and business integrity executives in the GCC states on Monday in Riyadh. The meeting will review a draft law for protecting public funds in the GCC states and guiding principles for enhancing efficiency and optimising performance at ...

  ABU DHABI / WAM Business leaders and professionals from the UAE and Turkey will participate in the two day UAE-Turkey Business Forum on the May 8 and 9 in Dubai in efforts to further develop bilateral relations and increase investments and joint projects in the avenues of tourism, transport, finance and trade services between the two countries. The Turkish ...

  Abu Dhabi / WAM Aldar Properties, Abu Dhabi’s leading listed property development, investment and management company, has appointed Trojan General Contracting as the main contractor for the first three precincts of its flagship development on Yas Island, Yas Acres. Trojan will mobilise on site immediately as it works on the infrastructure, 652 villas and townhouses, the golf course, golf club ...

  ABU DHABI / WAM The Barakah Nuclear Energy Plant, the UAE’s first nuclear energy plant currently being developed in the Al Dhafra region in Abu Dhabi, has received considerable attention and support by the wise leadership of the UAE. This support is reflected in the various site visits by UAE leaders and officials since the launch of the project. ...

Dubai / Emirates Business Emaar Malls, the shopping malls and retail business majority-owned by Emaar Properties PJSC, recorded a net profit of AED 539 million ($ 47 million) in Q1 (January to March) of 2017, higher by 19 percent over Q4 (September to December) 2016 net profit of AED 452 million ($123 million) and similar to net profit of AED ...

  Abu Dhabi / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, on Sunday visited a number of servicemen from the UAE and Sudan, at Zayed Military Hospital where they are receiving treatment for injuries sustained while participating in the Arab Coalition’s Operation Restoring Hope in ...