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

  Bloomberg The initial excitement surrounding Nintendo Co.’s debut mobile game, Super Mario Run, appears to wearing off. The title, released on Dec. 15 for Apple Inc. devices, was no longer the highest-grossing iOS app in any country as of Dec. 24, according to the latest data available from researcher App Annie. A week earlier, it was the most profitable ...

  Emirates Business LG Electronics (LG) will unveil four new mass-tier K Series smartphones and a new Stylus 3 at CES® 2017 in Las Vegas, as the mid-range segment continues its strong growth as the market matures. The new mid-range devices are designed to bring popular, best-in-class technologies from LG’s more premium flagship smartphones, such as the 120-degree wide angle ...

  ABU DHABI / WAM The Central Bank announced that the Money Supply aggregate M1 increased by 0.04%, from AED472.4 billion at the end of October 2016 to AED472.6 billion at the end of November 2016. In its statement, the bank announced that the Money Supply aggregate M2 increased by 0.8%, from AED1203.3 billion at the end of October 2016 ...

  ABU DHABI / WAM Abu Dhabi Fund for Development (ADFD), ranked second in UAE foreign aid contributions, according to the report titled ‘UAE’s Foreign Aid in 2015’ by the Ministry of Foreign Affairs and International Cooperation (MoFAIC). ADFD’s expenditure amounts to AED2.70 billion (US$736.73 million), whereas government aid, ranked first with 86.1% market share of total aid spent; AED27.84 ...

  Dubai / WAM The Emirates Development Bank (EDB) approved an estimated budget of AED1.5 billion for 2017 to finance housing loans for Emirati citizens and to help establish small and medium enterprises (SMEs). The decision was taken during the EDB’s 10th board meeting in Abu Dhabi on Sunday. The budget allocates AED750 million for housing loans for Emirati citizens ...

  ABU DHABI / WAM Sultan bin Saeed Al Mansouri, Minister of Economy, said that the announcement of President HH Sheikh Khalifa bin Zayed Al Nahyan, naming 2017 as the official ‘Year of Giving’ presents joyful tidings for the UAE and its people. Al Mansouri said, “It ushers in a new year that is set to establish new milestones in ...

  DUBAI / WAM Mohammed bin Rashid Establishment for Small and Medium Enterprises and the Al Habtoor Group have signed a Memorandum of Understanding. The MoU constitutes an understanding of collaboration between Al Habtoor Group and Mohammed bin Rashid Establishment for SME Development where the Al Habtoor Group will give priority business to members of Dubai SME proving they can ...

  Belgrade / AFP Aleksa Konstantinov was one the brightest maths students in Serbia this year but like many Balkan youngsters he immediately left for a US university after finishing school. Bosnian neurologist Sanina Babic Ribic was either laughed at or told she needed “political or some other support” to get a job after she graduated. She moved to Germany ...

  Soroti / AFP When power goes out in the rural town of Soroti in eastern Uganda, store manager Hussein Samsudin can only hope it won’t go on so long it spoils his fresh goods. Another shop owner, Richard Otekat, 37, has to pay a neighbour hourly to use his generator during blackouts as he can’t afford to buy one himself, ...

  Dubai / WAM In implement to the directives of President His Highness Sheikh Khalifa bin Zayed Al Nahyan, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai on Sunday directed the formation of the Higher National Committee for the Year of Giving initiative, which would include five Ministers as members and ...