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

  The imminent failure of Italy’s third-largest bank, Monte dei Paschi di Siena, is finally bringing the country’s long-festering banking crisis to the center of European leaders’ attention. This may be a blessing in disguise, offering the best chance yet to achieve a lasting solution — and even strengthen the European Union. Italy’s financial woes have been years in the ...

  Syrian troops reclaimed rebel-held east Aleppo. The residents anxious to return to their homes entered into the war-ravaged city after the regime’s announcement of full control of the city. Assad army recaptured the former rebel stronghold after a landmark evacuation deal that saw thousands of opposition fighters and residents bussed out. The evacuation operation ended more than four years ...

  Dubai / WAM Aimed at revitalising economic activity in the emirate of Dubai, the Dubai Municipality is carrying out many development projects including construction of new markets and commercial complexes, and expansion and maintenance of existing markets at a total cost of AED2.5 billion. Hussein Nasser Lootah, Director-General of the municipality explained that the civic body manages about 5,000 shops, ...

  Dubai / WAM Dubai Healthcare City (DHCC) announced on Sunday the launch of the Emirates Reference Laboratory (ERL) under the directives of Vice-President and Prime Minister of the UAE and Ruler of Dubai His Highness Sheikh Mohammed bin Rashid Al Maktoum. In line with HH Sheikh Mohammed’s vision, the laboratory, which is a key part of DHCC, will provide UAE ...

  Dubai / WAM Dubai Electricity and Water Authority (DEWA) and Roads and Transport Authority (RTA) have discussed cooperation and plans to encourage the use of electric vehicles and promote the Green Charger initiative. This came up during a meeting between Saeed Mohammed Al Tayer, MD and CEO of DEWA, and Mattar Al Tayer, Director-General and Chairman of the Board of ...

  Dubai / WAM As many as 36,466 road violations were registered by Dubai Police smart phone application in the first 11 months of the year, official figures showed. Brigadier Saif Al Mazrouei, Director of Dubai Traffic Police, said smart phone application provides members of the public with a platform to report offences committed by motorists. Users can take pictures and ...

  Dubai / WAM Dubai Customs has announced it is organising the second edition of its Customs Week for 2017. The event, which will be held under the theme, “Customer Happiness”, will run between 22nd-26th of January and will include a variety of exhibitions, lectures, workshops and awareness sessions for customers, passengers as well as the general public across various air, ...

  Dubai / WAM Dubai Health Authority (DHA) said 98 percent of Dubai residents – more than four million – now have health insurance. Humaid Al Qatami, Chairman of the Board and Director-General of DHA, said this big accomplishment adds to Dubai’s numerous achievements, making it one of the pioneers in healthcare field. According to him, exceeding the four-million mark is ...

  Abu Dhabi / WAM Al Dhafra Festival announced that a hundred shops have been built as part of this year’s festival to cater for the growing popularity of the annual event, which continues to provide great trade and economic opportunities for people in the Western Region. Commenting on the announcement, Abdullah Al Qubaisi, Director of the Communications Department of Cultural ...

  Abu Dhabi / Emirates Business Abu Dhabi Fund for Development (ADFD), ranked second for UAE foreign aid contributions in 2015 according to a report titled ‘UAE’s Foreign Aid in 2015’ by the Ministry of Foreign Affairs and International Cooperation (MoFAIC). ADFD’s expenditure amounted to AED2.70 billion (US$736.73 million), other funds and charitable organisations contributed AED1.76 billion and the UAE ...