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

ABU DHABI / WAM Abu Dhabi Islamic Bank (Adib) announced that it has continued to grow its UK commercial real estate financing portfolio with over £100m in new financing assets in the first six months of this year. Closed deals include providing structured financing for various projects, such as a 343-unit co-living scheme in North Acton, West London, a 400 ...

ABU DHABI / WAM UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan has sent a congratulatory message to President Guillermo Lasso of Ecuador on the occasion of his country’s Independence Day, marked annually on August 10. His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and His Highness ...

DUBAI / WAM Dubai Customs has stepped up readiness to ensure the smooth movement of homecoming passengers during the post-summer vacation period. The Passenger Operations Department of Dubai Customs has made preparations to facilitate procedures and speed up the flow of arrivals through the Dubai International  Airport (DXB). It increased the number of customs inspectors working on shifts at different ...

DUBAI / WAM Dubai Municipality (DM)’s public parks, neighbourhood parks, lakes, and recreational facilities registered for the first time a record-breaking total of more than 15 million visitors during the first half of 2023. This marks a 50 percent increase in the same period of 2022, which recorded approximately 10 million visitors. Visitors to parks and facilities in Dubai during ...

BLOOMBERG The Bank of Russia announced it will halt purchases of foreign currency on the domestic market for the rest of 2023 in an effort to help the ruble as the currency slumped toward 100 per dollar, its weakest in 16 months. “The decision was made in order to reduce the volatility of financial markets,” the central bank said in ...

BLOOMBERG Global stocks advanced, with France’s equity benchmark jumping 1%, after China lifted travel curbs. European travel and luxury companies led gains in the Stoxx 600 Index on speculation that companies will benefit an increase in Chinese tourism spending. The mood in markets was positive ahead of the key US inflation data, which may provide clues on the Federal Reserve’s ...

DUBAI / WAM Dubai Electricity and Water Authority (Dewa) provides a wide range of special offers and discounts to its customer through the Dewa Store, in collaboration with 471 public and private sector companies. The offers encourage customers to adopt a smart and sustainable lifestyle and help transform their houses into smart homes. Currently customers can avail of 818 offers ...

DUBAI / WAM Dubai Chamber of Digital Economy, one of the three chambers operating under the umbrella of Dubai Chambers, has unveiled details of its key achievements during the first half of 2023. Significant milestones included attracting 69 emerging technology companies to the emirate in cooperation with its partners from various government authorities between January and June, in line with ...

FUJAIRAH / WAM HH Sheikh Hamad bin Mohammed Al Sharqi, Supreme Council Member and Ruler of Fujairah has issued Law No 2 of 2023 to transform the “Fujairah Tourism and Antiquities Authority” into the Fujairah Tourism and Antiquities Department. The law stipulates that it will perform the tasks and competencies specified for it under the provisions of this law and ...

BLOOMBERG ABN Amro Bank slumped in Amsterdam after the bank’s delay of buyback plans outweighed the better-than-expected profit in the second quarter. Net income of €870 million ($955 million) in the three months through June compared with expectations for profit of €576.3 million, while net interest income was broadly in line with expectations. The Dutch bank, which last announced a ...