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

DUBAI / WAM Nasdaq Dubai welcomed the listing of a $500 million Sukuk by Arada, the UAE’s fastest-growing master developer. The Sukuk is the first issuance by Arada on the region’s international financial exchange, further solidifying Dubai’s position as one of the largest Sukuk listing venues globally, with a total value of $77 billion. To celebrate the successful listing, Ahmed ...

ABU DHABI / WAM Emirates Development Bank (EDB) today unveiled the UAE’s first-of-its-kind AgriTech Loans Programme, set to allocate a substantial AED 100 million in financing support for the country’s vital food security sector. The new AgriTech Loans Programme is designed to enable a sustainable and thriving national agriculture sector, positioning the UAE as a global leader in agricultural innovation. ...

ABU DHABI / WAM Abu Dhabi Securities Exchange (ADX) has successfully concluded its second roadshow in London, which was organised in collaboration with HSBC. The roadshow was well attended and attracted major international and institutional investors. ADX’s delegation included senior executives from ADX-listed companies and the exchange. The roadshow was part of HSBC Middle East’s second GCC stock exchange conference ...

ABU DHABI / WAM His Highness Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs, received Bakhtiyor Saidov, Minister of Foreign Affairs of Uzbekistan, at the headquarters of the Ministry of Foreign Affairs (MoFA) in Abu Dhabi. During the meeting, the two sides discussed the relations between the UAE and Uzbekistan and ways of enhancing their cooperation in various ...

DUBAI / WAM The Mohammed Bin Rashid Space Centre (MBRSC) has announced the scheduled launch date for the first mission of the Payload Hosting Initiative (PHI)-Demo. The mission is set to launch on June 27, 2023, at 15:34 GST from Russia’s Vostochny Cosmodrome aboard the Soyuz-2 rocket. The PHI-Demo mission is a joint initiative between MBRSC and the United Nations ...

BLOOMBERG The jitters affecting the world’s second-biggest economy are starting to feed through into China’s gold market. A surge in purchases by Chinese residents, driven by pent-up demand after three years of pandemic restrictions and optimism that the economy would quickly rebound, is starting to slow — yet another sign that the recovery is losing momentum. China vies with India ...

BLOOMBERG Stocks fell with US Treasuries as the second-quarter (Q2) rally met resistance from economic headwinds and signs that positioning is overbought.The chemical industry led declines in Europe after Lanxess AG slumped as much as 15% on a profit warning, dragging shares of peers including BASF SE lower. Drug maker Sanofi gained the most since March after a favourable arbitration ...

ABU DHABI / WAM H.H. Sheikh Hamdan bin Zayed Al Nahyan, Ruler’s Representative in Al Dhafra Region and Chairman of the Emirates Red Crescent (ERC), reaffirmed the UAE’s dedication to standing by refugees around the world. Sheikh Hamdan made the remarks on the occasion of the annual World Refugee Day, observed worldwide on 20th June, “Under the directives of President His ...

ABU DHABI / WAM Etihad Airways, the national airline of the UAE, touched down for the first time in Lisbon, marking the launch of regular services between Abu Dhabi and the Portuguese capital. The inaugural flight, EY63, was celebrated at Abu Dhabi Airport before take-off with Fernando Figueirinhas, ambassador of the Republic of Portugal to the UAE, and Chris Hedlin, ...

DUBAI / WAM Dubai International Financial Centre (DIFC), the leading global financial centre in the Middle East, Africa, and South Asia (MEASA) region, today announced it will build the “Dubai AI & Web 3.0 Campus”, the largest cluster of Artificial Intelligence and tech companies in the Mena region. The announcement comes in implementation of the directives of HH Sheikh Maktoum ...