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

  Bloomberg Get ready for some cashew sticker shock. The global popularity of the kidney-shaped nut has been growing faster than any other tree nut — even almonds. Demand jumped 53 percent since 2010, industry data show. Now the worst drought in a century for Vietnam, the largest exporter, is raising concern that supplies will be even tighter in a ...

  ABU DHABI / WAM Mubadala Petroleum reached an agreement with Petrofac for the modification and extension of contracts related to the FPF-003 floating production, storage and offloading vessel (Jasmine FPSO), which paves the way for the continued extension of the field life of this successful development. The parties signed a new ‘life of field’ agreement for the provision of ...

  ABU DHABI / WAM President His Highness Sheikh Khalifa bin Zayed Al Nahyan, issued, in his capacity as Ruler of Abu Dhabi, a law on regulation of deep water resources in the emirate of Abu Dhabi. According to the law, the deep water resources in the emirate of Abu Dhabi, shall be owned by the emirate. It stipulates that ...

  Dubai / EMIRATES BUSINESS The Department of Economic Development (DED) in Dubai saw a 10% increase in permits issued for various business activities during the third quarter of 2016, compared to the same period in 2015. Altogether, 39,000 permits were issued in Q3 2016 as discount sales and special offers grew 213%, reaching 1,647 from the 526 permits issued ...

  ABU DHABI / WAM The Masdar Institute of Science and Technology’s Sustainable Bioenergy Research Consortium (SBRC), a non-profit consortium supported by founding members Etihad Airways and Boeing, along with Takreer, SAFRAN and General Electric, on Monday announced it is to organise the first International Seawater Energy and Agriculture Forum 2016 in Abu Dhabi. To be held on November 1-2 ...

  ABU DHABI / WAM National Bank of Abu Dhabi (NBAD) won two industry awards, taking its tally to more than 100 recent industry accolades for its capital markets business, more than any other bank in the Middle East. The Banker magazine has named NBAD, “Most Innovative Investment Bank in the Middle East 2016”. This is the first occasion this ...

  ABU DHABI / WAM Etihad Cargo recently hosted an Italian Business mission in Abu Dhabi, offering the key industry players an opportunity to learn more about the United Arab Emirates and the Etihad Aviation Group, while promoting partnership and business opportunities. The event was co-hosted by Etihad Global Cargo Management Company (Etihad GCMC) and the Abu Dhabi Chamber of ...

  Dubai / Emirates Business His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai and Chairman of Dubai Media Incorporated, on Monday opened the Global South-South Development Expo 2016, at the Sheikh Rashid Hall of the Dubai International Convention and Exhibition Centre. HH Sheikh Maktoum bin Mohammed was accompanied by HH Sheikh Mansoor bin Mohammed ...

  Dubai /Emirates Business A government delegation from the Ministry of Communications and Information Technology and the Ministry of Civil Service in Saudi Arabia recently visited the office of Smart Dubai Government Establishment (SDG), the Smart Dubai Office’s technical arm that supervises Dubai’s smart transformation efforts. The visiting delegates aimed to learn more about SDG’s best practices, particularly in the ...

  Abu Dhabi / WAM twofour54, Abu Dhabi’s media free-zone, is looking to attract more productions, businesses and rewarding partnerships in the media sector in recognition of the sector’s value in boosting the national economy and tourism, according to a top official. “Based on our experience in hosting international productions in the capital, we have witnessed its economic impact on tourism ...