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

  Bloomberg China’s top underwriter of convertible bonds said there is “substantial” scope for sales to grow this year as regulators curb secondary share offerings, providing investors with more options for betting on the nation’s rising equity market. China International Capital Corp., which has arranged $7.7 billion of convertible notes onshore and offshore in the past seven years, said issuance ...

  Dubai / Emirates Business The Dubai Airport Freezone Authority (DAFZA) performed strongly in 2016, achieving 16 percent net profit growth and posting a 2 percent growth in its total revenue and a 28 percent increase in its total assets and a 3% rise in Earnings Before Interest and Depreciation (EBID). According to official reports, the total leasable area of ...

  Dubai / Emirates Business Emirates National Oil Company (ENOC) introduced its RFID-based technology to fuel DP World’s fleet of vehicles. The new system will also help DP World in monitoring diesel fuel consumption, which not only increases operational efficiency but also manages scheduled vehicle maintenance. The RFID based technology installed by ENOC completely replaces the fuel management system previously ...

  Dubai / Emirates Business The Mohammed bin Rashid Al Maktoum Knowledge Foundation (MBRF) announced its intentions to extend the Nobel Museum until May 4, following directives from His Highness Sheikh Ahmed bin Mohammed bin Rashid Al Maktoum, Chairman of the Foundation. MBRF is organising the Museum for the third consecutive year. This year’s edition bears the theme “The Nobel ...

  Dubai / Emirates Business Al Yousuf Motors LLC, the authorized and exclusive dealers of Yamaha products ranging from motorcycles to boats to personal water crafts, showcased its wide array of waverunners, speed boats, and water vehicles at the 25th Dubai International Boat Show at Dubai International Marine Club in Mina Seyahi. One of the key highlights of the adventure ...

  Dubai / Emirates Business Dubai’s Department of Tourism and Commerce Marketing (Dubai Tourism) announced updates to the Desert Tour & Camp regulations first introduced in May 2016. The revisions are intended to further enhance the emirate’s popular desert experiences, elevating the sector’s standards and bolstering Dubai’s reputation as an adventure hub with a distinct and diverse offering. Dubai Tourism ...

  PALM BEACH / AP The White House demanded on Sunday that Congress investigate whether former President Barack Obama abused his executive powers in connection with the 2016 presidential election. President Donald Trump leveled that claim on Saturday when he accused his predecessor of tapping telephones at Trump Tower. But Trump offered no supporting evidence, a spokesman for Obama denied ...

  Bloomberg Deutsche Bank AG’s supervisory board will meet to discuss a plan to raise more than 8 billion euros ($8.5 billion) as Chief Executive Officer John Cryan tackles concerns about capital levels, a person familiar with the matter said. The bank confirmed a Bloomberg News story that said the lender is planning an equity offering and the sale of ...

  Bloomberg When the biggest Nordic bank turned its subsidiaries into branches, regulators in Finland, Denmark and Norway complained they were left with too-big-to fail operations but no power to rein them in. Oversight was instead left to Sweden. But the full consequences of Nordea Bank AB’s decision to consolidate its Nordic operations are only gradually becoming clear. In a ...

  RABAT / Reuters Morocco’s central bank approved the use of five types of Islamic banking transaction, giving a final regulatory nod for the country to launch an Islamic finance industry. Islamic banks and insurers are setting up in Morocco after new legislation allowed them into the market, and the central bank has set up a central sharia board, a ...