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

  Abu Dhabi / emirates business The Abu Dhabi Systems and Information Centre (ADSIC) announced the winners of its Excellence Award 2016 ‘Tamayuz’ – an internal competition for employees, projects, and teams – in a ceremony held at the Centre’s headquarters. The awards ceremony, which was organized recently, was attended by His Excellency Rashed Lahej Al Mansoori, Director General of ...

  Bloomberg West African oil producers this month will send the most crude to Asia in at least five years, the latest sign of how refineries in the world’s biggest demand region are scouring the world to replace supplies cut by OPEC’s Middle East producers. Shipments on the trade route, among the longest for supertankers, are set to soar to ...

  Bloomberg President Donald Trump’s energy policies are good for the petroleum industry and Saudi Arabia sees no problem with growth in US oil production as long as it’s in line with demand, Saudi Energy Minister Khalid Al-Falih said. “President Trump has policies which are good for the oil industries,” Al-Falih said in an interview with the BBC. “He has ...

  HONOLULU / AP Hawaii has the most aggressive renewable energy targets in the nation, aiming for its utilities to get 100 percent of their electricity from renewable sources by 2045. Now advocates want to extend that goal to the transportation sector to urge all forms of ground transportation to fuel up using renewable sources by 2045. “The majority of ...

  Bloomberg Oil traded below $53 a barrel in New York after an industry report was said to show an US crude supply gain while the dollar dropped. vUS crude inventories rose 5.83 million barrels last week in an American Petroleum Institute report on Tuesday, people familiar with the data said. The Energy Information Administration will probably report that supplies ...

  Bloomberg India’s annual oil imports from Iran surged to a record high in 2016 as some refiners resumed purchases after the lifting of sanctions against Tehran, according to ship tracking data and a report compiled by Thomson Reuters Oil Research and Forecasts. The sharp increase propelled Iran into fourth place among India’s suppliers in 2016, up from seventh position ...

  Bloomberg Prime Minister Narendra Modi offered tax cuts and boosted spending on some of India’s poorest citizens hurt by his cash ban as he seeks to shore up support before pivotal state elections. The budget shortfall is forecast to be 3.2 percent of gross domestic product in the year starting April 1, Finance Minister Arun Jaitley told lawmakers in ...

  Bloomberg Japan’s biggest electricity wholesaler knows it’ll take more than cutting-edge coal technology to save the environment. Electric Power Development Co., known as J-Power, is looking to build its first major power plant that burns natural gas near cities such as Tokyo as well as use more woody biomass instead of fossil fuels, Executive Officer Hitoshi Kanno said. That’s ...

  Bloomberg China’s official factory gauge started the new year on a robust note, giving policy makers a buffer to transition to neutral policy settings as they prepare for potential trade tensions with a Donald Trump-led White House. Manufacturing purchasing managers index was 51.3 in January, compared with a median estimate of 51.2 in a Bloomberg survey of economists and ...

  Bloomberg India is planning to create a state-owned oil giant through mergers to match the might of international companies and billionaire Mukesh Ambani’s Reliance Industries Ltd. “We see opportunities to strengthen our central public-sector enterprises through consolidation, mergers and acquisitions,” Finance Minister Arun Jaitley said in Parliament while presenting the federal budget for the year beginning April 1. “It ...