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

  DUBAI / WAM Dubai Roads and Transport Authority (RTA), announced that its 95th Licensing Open Plates Auction raised a total revenue of AED27.751 million when 80 eye-catching plates were put under the hammer. Four license plates acquired the lion’s share of revenues in the auction, which saw fierce competition between bidders. Ahmed Bahrozyan, CEO of the RTA Licensing Agency, ...

  DUBAI / WAM Emirates SkyCargo, the freight division of Emirates, has won the ‘Best Cargo Airline Middle East’ award at the annual Cargo Airline of the Year 2017 awards organised by Air Cargo News in London. This is the 28th time that Emirates SkyCargo has won this recognition in the 31 year history of the awards. The winners of ...

  ABU DHABI / WAM Abu Dhabi Securities Exchange (ADX), is organising its first roadshow for the year 2017 in New York City on Monday, accompanied by a number of its listed companies. The roadshow will enable ADX listed companies to engage with potential new investors, fund managers, and asset management companies to inform them about their growth strategies and recent ...

  Sharjah / WAM Sharjah Municipality received a delegation from the British Accreditation Authority (IUCAS). The delegation visited the Central Laboratories of the municipality and reviewed the procedures of the food laboratory in analysing the various samples as part of the procedures of renewing the annual international accreditation of the laboratory for more than 18 years. Dr. Sheikha Rasha Al Qasimi, ...

  Bloomberg Statoil ASA, Norway’s biggest oil and gas producer, rose the most in five months after first-quarter profit climbed on higher output amid recovering crude prices and as it deepened cost cuts to emerge from a downturn that has battered the industry for more than two years. The shares rose as much as 3.7 percent, the most since December ...

  Bloomberg The era of quantitative easing and emergency measures has left central banks with trillions in assets. In the case of the National Bank of Kazakhstan, it ended up with 10 percent in the country’s state oil company. Even as KazMunayGas National Co. prepares an initial public offering by 2020, the central bank will “stay a shareholder” and the ...

  Bloomberg Pemex is producing more gasoline and diesel at its six refineries across Mexico, reducing fuel imports and leaving less oil available for export. In the first three months of the year, Mexico’s refineries processed 21 percent more crude than a year earlier, according to a company presentation. The increase has largely come from crude that was previously being ...

  KUALA LUMPUR / Reuters Malaysian state-owned oil firm Petroliam Nasional Bhd said on Sunday its second floating liquefied natural gas (LNG) facility will be operational in 2020. Petronas loaded its first cargo from the Petronas Floating LNG (PFLNG) 1 in east Malaysia last month, becoming the first company to produce LNG from a floating production unit. The second one ...

  Bloomberg Take China and technology, put them together, and what do you have? One of the best performing exchange-traded funds in the world. The tiny $48 million Emerging Markets Internet and E-commerce ETF, or EMQQ, is up 32 percent this year, putting it among the 30 top returning equity ETFs worldwide. The fund is just a fraction of BlackRock ...

  Bloomberg China’s foreign-exchange reserves rose for a third month in April, beating estimates, as tighter capital controls kept money from flowing out of the country and the yuan was stable. Reserves climbed $20.45 billion to $3.03 trillion, the People’s Bank of China said on Sunday, compared with a median estimate of $3.02 trillion in a Bloomberg survey of economists. ...