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

  It’s been two years since the European Central Bank decided to combat the region’s economic woes by expanding the supply of money, buying bonds and slashing interest rates to nothing. The moves effectively debased the euro, prompting a chorus of investors and strategists to opine that the shared currency would soon tumble to parity with the dollar for the ...

On Tuesday, UK Prime Minister Theresa May set out her fullest account yet of her aims in the forthcoming Brexit negotiations. Greater clarity was overdue, and welcome — but with it comes a clearer understanding of the enormous hazards Britain faces as this process moves forward. May said, “What I am proposing cannot mean membership of the single market.” That ...

  World is waiting to see where the mutual admiration between President-elect Donald Trump and Russian President Vladimir Putin will proceed to. Will this wooing translate into a long-term courtship? Trump called Putin smart guy. The Republican said, “if Putin likes me, it’s an asset.” Trump also initially out-rightly rejected the intelligence agencies’ findings about Russian hacking and called it ...

  Dubai / WAM Middle Eastern investment banking fees reached US$820.8 million during 2016, an 18 per cent increase compared to fees recorded during 2015 and the highest annual fee total in the region since 2008, according to the annual investment banking analysis for the Middle East region, by leading business information provider Thomson Reuters. “Bolstered by Saudi Arabia’s $17.2 billion ...

  Abu Dhabi / WAM The Ministry of Finance (MoF) participated in the Second Annual Under-Secretaries of Arab Ministries of Finance meeting which commenced in Abu Dhabi. The meeting, which was organised by the Arab Monetary Fund, AMF, in cooperation with the MoF, was attended by Younis Haji Al Khoori, Under-Secretary of MoF, and Khalid Ali Al Bustani, Assistant Under-Secretary for ...

  Dubai / WAM Mohammed Abdullah Al Jarman, General Manager of Emirates Transport (ET) launched a demonstration version of a smart application that will enable drivers to request roadside assistance in the event of a breakdown, or other car-related trouble. According to Al Jarman, the new application is in the pilot phase and will currently only be available to serve the ...

  Dubai / WAM To promote road safety in the UAE, the UPS Foundation has announced an initial grant and in-kind commitment of more than US$40,000 to the Emirates Foundation, an independent philanthropic organisation set up by the Abu Dhabi government to facilitate public-private funded initiatives to improve the welfare of youths across the UAE. UPS and Emirates Foundation volunteers will ...

  Dubai / WAM Dubai-government owned Emirates National Oil Company Group, ENOC, on Thursday announced that it has appointed a new board of directors for its wholly-owned subsidiary, Dragon Oil. HH Sheikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai and UAE Minister of Finance, was selected as the company’s new chairman, the company said in a statement. Saeed Mohammed ...

  Abu Dhabi / WAM The 10th World Future Energy Summit (WFES) ended on Thursday in Abu Dhabi with strong growth in commercial activity surrounding the event and the number of hosted business meetings surging by more than 60 percent. Hosted by Masdar, Abu Dhabi’s renewable energy company, as part of Abu Dhabi Sustainability Week, WFES aims to promote the business ...

    Dubai / WAM Vice-President and Prime Minister of the UAE and Ruler of Dubai His Highness Sheikh Mohammed bin Rashid Al Maktoum approved expanding warehouse facilities at the International Humanitarian City (IHC) in response to urgent demand from leading UN and NGO agencies, most notably the Red Crescent, UNHCR, ICRC and the World Food Programme. The approval gives the ...