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

  DUBAI / WAM A joint venture between Dubai master developer Nakheel and leading Spanish hospitality group RIU Hotels and Resorts has moved a step closer with the release of a construction tender for an 800-room, beachfront resort and water park at Deira Islands. With an investment value of AED670 million, the resort – RIU’s first in the Middle East ...

  ABU DHABI / Emirates Business Etihad Rail, the developer and operator of the UAE’s multi-billion dollar national rail network, announced the signing of MoU with Al Safa Transport, a trucking and transportation services provider with operations across the Middle East. Signed by CEO of Etihad Rail, Eng. Faris Saif Al Mazrouei and Managing Director of Al Safa Transport, Nabeel ...

  DUBAI / WAM The National Central Cooling Company, Tabreed released its 2017 first quarter financial results. Tabreed’s performance benefited from the new connections made last year, in addition to over 20,000 refrigerated tonnes, RT, added during Q1 2017. These new connections, combined with Tabreed’s existing presence in the GCC, resulted in net profit increasing by 19 percent to AED75.4 ...

  Dubai / WAM Emirates SkyCargo and Luxembourg-based Cargolux Airlines on Tuesday signed a Memorandum of Understanding, (MoU), for a strategic operational partnership in air cargo transportation. This unique and ground breaking agreement, the first of its kind in the air cargo industry between a mainline airline and a specialised freighter operator, will allow cooperation between two carriers with complementary strengths ...

  Abu Dhabi / WAM The Telecommunications Regularity Authority (TRA), held the first meeting of the committee for the 5G project. This meeting aimed to provide a platform to discuss all aspects related to the use cases and verticals for the 5G networks including the Internet of Things, IoT, Intelligent Transport Systems, ITS, and new applications that rely on these networks. ...

  Dubai / WAM Expo 2020 Dubai has chosen leading global logistics firm UPS to handle the logistics operations for Expo 2020 Dubai, which is expected to attract millions of visitors over its six-month duration. With more than 180 countries expected to participate and hundreds of thousands of visitors on peak days, the next World Expo will be one the most ...

  Abu Dhabi / WAM The UAE funded a shipment of basic humanitarian relief items, at a cost of over AED1.6mn, dispatched to Uganda for the displaced South Sudanese there. The gesture follows the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai and his wife, HRH Princess Haya Bint ...

  Bloomberg Moon Jae-in declared victory in South Korea’s leadership race, pledging to unify the nation after nine years of conservative rule that culminated in the country’s biggest street protests since the 1980s. With 40 percent of ballots counted in Tuesday’s presidential election, Moon received 39.5 percent of votes, leading conservative Hong Joon-pyo, who had 26.5 percent. Centrist Ahn Cheol-soo ...

  GENEVA / WAM Some 250 people are feared dead or missing following two shipwrecks in the Central Mediterranean, according to the UN refugee agency. ”In the last 24 hours we have received alarming information on two new shipwrecks in the Central Mediterranean,” said UNHCR spokesperson Cecile Pouilly in a press briefing in Geneva on Tuesday. ”The first shipwreck took ...

  Bloomberg Zimbabwean President Robert Mugabe’s ruling party is discussing using a press clampdown and intimidation in rural areas to thwart a newly united opposition’s challenge to its three-decade rule in elections next year, according to three senior officials with knowledge of the matter. Officials of the Zimbabwe African National Union-Patriotic Front are increasingly concerned the health of Mugabe, 93, ...