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

  If Richard Nixon could go to China, can Rex Tillerson save Paris? It is but one of many questions, some more answerable than others, about President-elect Donald Trump’s choice for secretary of state. Unlike the president-elect, Tillerson, the chief executive officer of Exxon Mobil Corp., supports both the global climate-change accord forged in Paris last year and a carbon ...

  President Nicolas Maduro’s announcement that all 100-bolivar notes were being called in by the government to combat the hoarding of currency shocked Venezuelans. The largest denomination of country’s crippled currency was pulled from circulation before it was replaced by the new, larger-denomination bills. It led to chaos and confusions. Frustrated people thronged banks and ATMs to deposit the bills. ...

  Abu Dhabi / WAM Due to the dramatic drop in oil prices in 2014, the decline in the emirate’s growth expectations is inevitable, but such decline is expected to be mitigated by the contribution of non-petroleum commodities sectors which will reduce the impact of the decline in oil prices, according to the 2nd Abu Dhabi Competitiveness Report 2016, issued by ...

  Dubai / WAM As part of its efforts to support and protect the interests of Dubai’s business community, the Dubai Chamber of Commerce and Industry hosted the 2nd roundtable meeting of 2016, which gathered representatives of various business councils and groups operating under its umbrella. During the meeting which was attended by Abdulla Al Maeeni, Director-General, Emirates Authority for Standardisation ...

  Abu Dhabi / WAM More than 400 world-renowned Islamic academics, philosophers, dignitaries, thinkers, researchers, youths and opinion-makers on Monday concluded the third Annual Forum for Promoting Peace in Muslim Societies where they endeavoured to refute extremist ideologies to rectify the negative image of Islam as well as confront the oppression that many religious minorities face in the world. The two-day ...

  Ras Al Khaimah / WAM The Ras Al Khaimah Courts Department (RAK Courts) has been awarded PAS 99, an international specification for integrated management systems, ISO 9001:2015, which specifies requirements for a quality management system, and ISO 14001:2015, which specifies requirements for environmental management systems, the Department said on Monday. This is the first time a government agency in the ...

  Dubai / WAM The Dubai Financial Services Authority (DFSA) hosted an outreach event for its regulated community and other stakeholders to discuss known and emerging cyber risks and trends, and the steps that should be taken to prevent, detect and respond to them. It was acknowledged that globally, cyber-attacks are increasing in scale and sophistication from highly organised groups of ...

  Dubai / Emirates Business Dubai Electricity and Water Authority (DEWA) has organised a two-day workshop on Energy Storage in cooperation with the Spanish National Renewable Energy Centre (CENER). The workshop supports DEWA’s role as a platform for sharing knowledge and expertise and its efforts to keep its staff and partners up-to-date with the latest technologies and developments. Over 150 ...

  Ras Al Khaimah / Emirates Business More than 10,000 residents and visitors flocked to the towering red sand dunes of Ras Al Khaimah’s Awafi this weekend to celebrate the start of the 14th annual festival of the same name. The three-week long annual festival, which celebrates the northern emirate’s ethnic and cultural heritage, runs each evening from 4pm to ...

  Dubai / Emirates Business Careem, the leading ride-hailing service in the Middle East and North Africa, announced a first close in its $500 million funding round. The investment of $350 million is co-led by Rakuten, Inc., a global leader in internet services and innovation headquartered in Japan, and Saudi Telecom Company (‘STC’), the largest telecom operator in the Middle ...