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 International Airport (AUH) welcomed 2.3 million passengers in August 2016, marking an increase of 2.3 percent compared to the same period last year. Since the beginning of the year, passenger traffic has grown 6.2 percent from the same period last year, with 16,422,763 passengers between January 1 and August 31, according to Abu Dhabi ...

  Dubai / Emirates Business Dubai Properties (DP), a leading Dubai-based real estate master developer and asset manager, on Wednesday announced 18 new buildings available for lease in one of its most vibrant communities in DUBAILAND – Remraam. The construction progress of the 18 new buildings, which contain 1441 units, has reached 90% and is moving forward in line with ...

  Abu Dhabi / Emirates Business The International Halal Accreditation Forum (IHAF), the world’s first Halal international accreditation network, will hold a general assembly meeting in the UAE on November 6. This will be the first time IHAF will be conducting a general assembly meeting with the aim of bringing its founding members together to discuss the internal system of ...

  ALGIERS / Reuters OPEC might still agree an oil output-limiting deal later this year as the economic problems of its de-facto leader Saudi Arabia force Riyadh to cede more ground to arch-rival Iran. Saudi Energy Minister Khalid al-Falih said on Tuesday Iran, Nigeria and Libya would be allowed to produce “at maximum levels that make sense” as part of ...

  Doha / Emirates Business In the lead-up to the soft opening of Mall of Qatar, it has been revealed that the multi-billion QAR project—designed to serve as the region’s ultimate shopping, entertainment and dining destination—will generate about 8,000 new jobs nationwide. This impressive figure indicates that Mall of Qatar is set to play a pivotal role in the country’s ...

  Bloomberg Nigeria’s possible sale of some of its oil and gas assets to raise money and boost the contracting economy in Africa’s most populous country could reduce the government’s influence over its biggest industry. President Muhammadu Buhari’s economic advisers are working on a plan “to generate immediate large injection of funds into the economy through asset sales, advance payment ...

  Bloomberg Libya, struggling to revive its energy industry after five years of armed conflict, restarted production at an eastern oil field and was poised to export crude from the port of Zueitina for the first time since November. Germany’s Wintershall AG began pumping at Concession 96 in the As Sarah field on Sept. 16 and is producing 35,000 barrels ...

Kuwait City / AFP A Kuwaiti court on Wednesday said a government decision to increase petrol prices was unlawful nearly one month after it took effect in the oil-rich Gulf country. The court said the decision “breached the law” because of procedural flaws, according to a copy of the verdict obtained by AFP. It said the price hike should have ...

  Rome / AFP Italy has slashed its growth forecasts for this year and next, nine weeks before a referendum shaping up as make-or-break vote on the centre-left government’s record that could send shockwaves across Europe. Speaking after a cabinet meeting on updated budget plans for 2017, Prime Minister Matteo Renzi said he was now making a “prudent” prediction of ...

  Athens / AFP The Greek parliament has adopted fresh austerity measures sought by its international creditors, including expediting privatisation of utility companies. The reforms were passed by 152 of the 293 parliamentary deputies present, deputy speaker Yorgos Varemenos announced after the debate. The vote opens the way for 2.8 billion euros ($3.1 billion) in loans, which have been blocked ...