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

NEW DELHI / WAM India will build nine new “greenfield” airports to meet the steep rise in domestic and international air passenger traffic. In addition, 41 existing airports in India are being upgraded with state-of-the-art infrastructure and new facilities at a cost of about $12 billion. The high capital expenditure plan for upgrading existing airports with heavy traffic is being ...

DUBAI / WAM Dubai International (DXB) has announced a significant milestone in its recovery with passenger traffic for the first half of the year surpassing 2019 levels. The world’s busiest international hub welcomed 41.6m guests in H1, just over 100%, compared to the traffic recorded during the first six months of 2019. DXB registered a robust performance throughout the second ...

ABU DHABI / WAM Special Olympics UAE on Tuesday signed a memorandum of understanding with the Emirates Bodybuilding and Fitness Federation to develop a strategic partnership between the two entities and expanding People of Determination’s participation in powerlifting. The signed MoU allows both parties to exchange knowledge and experiences related to bodybuilding, fitness, and powerlifting, as both parties will work ...

ABU DHABI / WAM Khalifa Economic Zones Abu Dhabi (Kezad Group), the integrated trade, logistics, and industrial hub of Abu Dhabi, on Tuesday announced that it has commenced main road landscaping works across 288,000 sqm in Kezad Al Ma’mourah. The AED42 million project includes landscaping 24 km of main roads and roundabouts in Kezad Al Ma’mourah. The project also consists ...

ABU DHABI / WAM The COP28 UAE Presidency has announced an ambitious and inclusive two-week thematic programme for the conference to deliver on four key goals alongside the negotiations process and as part of the critical Global Stocktake response. Taking place at Expo City Dubai from November 30 December 12, COP28 UAE will focus on fast-tracking a just, orderly and ...

RAS AL KHAIMAH / WAM HH Sheikh Saud bin Saqr Al Qasimi, Supreme Council Member and Ruler of Ras Al Khaimah, has received at his palace at the Saqr bin Mohammed City, Ibrahim Said Al Busaidi, Governer of the Musandam Governate in Oman, and his accompanying delegation. During the meeting, Sheikh Saud and Al Busaidi discussed the deep-rooted ties between ...

BLOOMBERG A top-performing Chinese macro hedge fund blamed global capital for sinking the country’s stocks to the lowest levels since November. Foreign funds are primary drivers of Chinese stocks’ recent selloff, said Li Bei, founder of Shanghai Banxia Investment Management Center. Overseas investors stirred up market volatility and, “taken together, they are a bunch of aimless flies,” she said in ...

BLOOMBERG Nasdaq futures signalled further gains in US tech shares after August 21’s rally, while the sector also outperformed in Europe and Asia. Contracts on US stock gauges climbed, with those on the Nasdaq 100 Index rising 0.4%. Nvidia Corp gained 1.4% in premarket trading, after an 8% jump onAugust 21 that buoyed tech stocks amid optimism about its earnings ...

ABU DHABI / WAM The Central Bank of the UAE’s  (CBUAE) public budget reached an all-time high of AED650 billion by the end of June 2023, as revealed by its latest fiscal report. The report for June 2023 showed that a monthly increment of 0.2 percent led the public budget to rise to AED649.42 billion at the end of June, ...

ABU DHABI / WAM The Federal Tax Authority (FTA) confirmed that its flagship “Muwafaq Package” and “Specialised Tax Agent” transformational projects, which were both launched this year, have achieved remarkable results, effectively facilitating compliance procedures for taxpayers. Launching these projects forms part of the authority’s strategy to contribute to the government’s efforts to design major and rapid transformational projects that ...