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

  Dubai / Emirates Business In the line with UAEs’ initiative for the care of orphans and minors launched in 2015 by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai and in support of orphan children. The Habtoor Grand Resort in Dubai hosted children, care-givers and administrative staff ...

  Sharjah / Emirates Business du delighted 45 children with disabilities from the Sharjah City for Humanitarian Services (SCHS) in Dubai with a special Arabic premiere of Ice Age: Collision Course at VOX Cinemas in Mirdif City Centre. Regularly engaging fans through its du Tuesday and du Live! platforms, the leading entertainment telco gave the children, accompanied by their parents ...

Bloomberg Countries in the Middle East and North Africa led by Egypt, Kuwait and Morocco are boosting liquefied natural gas import capacity, taking advantage of low prices to meet rising energy demand. The region plans to add permanent terminals and temporary, off-shore units that will increase annual capacity by 58.2 billion cubic meters in 2021, energy lender Arab Petroleum Investment ...

  Bloomberg Iran approved a new oil contract model, taking the OPEC nation a step closer to welcoming foreign investment in its energy industry and boosting production even more into an oversupplied market. The contract model was approved at a cabinet meeting Wednesday, according to the official Islamic Republic News Agency. Priority will be given to boosting output at jointly ...

  Bloomberg Transnational Corp. of Nigeria Plc suspended plans to build one of the nation’s biggest power plants as a local gas shortage makes it difficult to obtain fuel and a downturn in Africa’s largest economy hinders efforts to raise funds for the project. The company in 2014 said it would raise $1 billion to build a 1,000-megawatt gas-fired facility. ...

  Bloomberg Oil traded near $41 a barrel after U.S. gasoline supplies fell the most since April, retreating from the highest seasonal level in at least two decades. Futures were little changed in New York after advancing as much as 1.4 percent earlier. Prices climbed 3.3 percent on Wednesday, the most in three weeks. Inventories of the motor fuel slid ...

  TEHRAN / AP Iran’s President Hassan Rouhani said on Tuesday that world powers have not fulfilled their commitments under the landmark nuclear deal, harming Iranian economic growth. Speaking on state TV, Rouhani said that “if the other party had acted properly, we would be in a better situation today.” He said Iran still cannot access its foreign assets, although ...

  NEW DELHI / AFP Indian business leaders on Thursday hailed the passage of a landmark tax reform bill that paves the way for a new national sales tax and the creation of a common market across the country for the first time. Lawmakers voted late on Wednesday in favour of introducing the long-awaited Goods and Services Tax (GST), which ...

  Bloomberg Toyota Motor Corp. reported Thursday a 14.5 percent drop in profit for the fiscal first quarter as sales fell and a strong yen slashed earnings for the Japanese automaker. Two powerful quakes in southwestern Kumamoto in April that had disrupted production also hurt results. Toyota’s April-June profit totaled 552.4 billion yen ($5.4 billion), down from 646.3 billion yen ...

  Bloomberg India’s biggest electricity producer plans to fuel a proposed power project on the country’s southern coast with domestic coal, switching from its original plan to use overseas supplies equivalent to almost 9 percent of this year’s forecast imports. The state-owned company NTPC Ltd. made the decision after the federal power ministry and the state government of Andhra Pradesh, ...