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 The Abu Dhabi Department of Economic Development (Added) has unveiled Industrial Talent Programme to develop, attract, and upskill human capital in the industrial sector to meet the rising demand for knowledge-based jobs. The announcement was made by Rashed Abdulkarim Al Blooshi, Undersecretary of Added at the first edition of the Abu Dhabi Industrial Talent Majlis, which ...

ABU DHABI / WAM The Ministry of Finance has issued ministerial decision No 120 of 2023 on transitional rules for corporate tax, providing guidelines  for adjusting a taxable person’s opening balance sheet under the corporate tax law. Younis Haji Al Khouri, Undersecretary of the Ministry of Finance, said, “Transitional rules for corporate tax provide important clarifications for businesses that need ...

RAS AL KHAIMAH / WAM For the second year in succession, Ras Al Khaimah’s credit rating has been affirmed at ‘A’ with a Positive Outlook, according to international credit rating agency Fitch. US-based Fitch Ratings, one of the “big three” credit ratings agencies, stated that the Emirate’s positive outlook reflected strong foundations of “solid fiscal metrics; the benefits of its ...

BLOOMBERG US equity futures wavered as strong economic data raised the possibility on more interest rate rises, dampening some of the optimism about a potential debt-ceiling deal. Contracts on the S&P 500 traded flat, while the tech-heavy Nasdaq 100 ceded some gains. Treasury yields climbed after the data, reversing earlier declines. A report on consumer spending painted a picture of ...

BLOOMBERG Nasdaq Inc may be the coveted destination for tech companies looking to go public. But the exchange had to pull out all the stops to lure chip designer Arm Ltd, likely to be the largest initial public offering of the year. The proposed listing sparked a remarkable, behind-the-scenes scrum involving heads of state, exchange officials and the billionaire founder ...

ABU DHABI / WAM President His Highness Sheikh Mohamed bin Zayed Al Nahyan has sent a message of congratulations to President Alberto Fernández of Argentina on the occasion of his country’s National Day. His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, and His Highness Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy ...

ABU DHABI / WAM UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan has sent a written message to Katalin Novák, President of Hungary, with an invitation to the COP28 climate conference to be held at Expo City Dubai in November. The invitation was delivered by Saud Hamad Al Shamsi, UAE ambassador to Hungary, to Kristóf Altusz, diplomatic advisor ...

ABU DHABI / WAM Anwar Gargash Diplomatic Academy (Agda), signed a memorandum of understanding (MoU) with Geneva Centre for Security Policy, to solidify its partnership, building upon the successful hosting of the Processes of International Negotiation (PIN) Conference in Abu Dhabi. The MoU was signed on Thursday by Nickolay Mladenov, Director-General of Agda and ambassador Thomas Greminger, Director of the ...

ABU DHABI / WAM Adnoc on Thursday announced the successful completion of the bookbuild and public subscription process for the initial public offering (IPO) of Adnoc Logistics & Services (Adnoc L&S), a mission-critical global energy maritime logistics leader and critical enabler of Abu Dhabi and the UAE’s supply of energy to the world. The offering of 19 percent of the ...

NEW DELHI / WAM Abdullah bin Touq Al Marri, Minister of Economy participated in a session titled “Is Minilateralism the Future of Global Trade?” as part of the annual Confederation of Indian Industry (CII) conference 2023 held in New Delhi. The session was attended by Sanjeev Bajaj, President of CII; Chandragit Banerjee, Director-General of CII; and a number of UAE ...