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 Central Bank of the UAE announced that the Money Supply aggregate, M1, decreased by 1.6%, from AED 488.9 billion at the end of May 2016 to AED 481 billion at the end of June. The Money Supply aggregate M2 decreased by 0.5%, from AED 1186.4 billion at the end of May 2016 to AED ...

  Doha / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, and H.H. Sheikh Tamim bin Hamad Al Thani, the Emir of Qatar, have examined ways of promoting fraternal relations between the two countries and their brotherly peoples, as well as overall regional and international issues ...

  Abu Dhabi / WAM The Abu Dhabi Investment Authority (ADIA) on Wednesday published its 2015 ADIA Review, providing a thorough overview of its activities over the past year and the outlook for the year ahead. It includes a detailed analysis of market conditions across the many asset classes in which the authority invests and explains developments within each of its ...

  Dubai / WAM The Department of Economic Development (DED) in Dubai saw a substantial increase in the number of transactions related to business licenses as well as the number of licenses issued during the second quarter (Q2) of 2016. A total of 119,630 transactions were done during the period, which was 34.9 percent higher than 88,688 transactions carried out during ...

  Dubai / WAM The Emirates Post Group has added South Africa and Uzbekistan to its Express EMS network, enabling UAE customers to send documents and other shipments to these two countries. EPG’s Express EMS service now covers 111 countries globally, providing customers with a cost-effective and speedy channel to send shipments internationally. Chief Commercial Officer of EPG, Ibrahim Bin Karam, ...

  Abu Dhabi / WAM Four students from Khalifa University (KU) participated in the Sheikh Zayed Institute for Paediatric Surgical Innovation’s annual Student Innovators Programme (SIP), a summer programme taking place at the Children’s National Medical Center in Washington, DC. The students were selected alongside 20 others from universities around the world, and will have access to world-class paediatric healthcare facilities ...

  Dubai / Emirates Business Mashreq, one of the leading financial institutions in the UAE, on Wednesday has reported its financial results for the first half ending June 30, 2016. The bank has posted a net profit for the first of 2016 AED 1.1 billion, which stable compared to the normalized net profit of 1H 2015. Mashreq’s CEO, HE AbdulAziz ...

  AP Construction of new homes posted a solid increase in June, led by a surge of building in the Northeast and the West. The Commerce Department said that housing starts rose 4.8 percent to a seasonally adjusted annual rate of 1.19 million from a revised 1.14 million in May. The June reading was the highest level since February, but ...

  Bloomberg What’s the cost of having to raise money quickly by selling London real estate? Almost 15 percent based on the sale of two properties on Oxford Street, the UK’s busiest shopping thoroughfare, since Britain voted to leave the European Union. Aberdeen Asset Management Plc’s UK Property Fund accepted a 15 percent price cut to sell a building on ...

  Bloomberg Developers now are making sure they reach a higher level of sales before they begin construction on Toronto condominium projects, contrary to the housing bubble that unfolded in the city in the 1980s, Canada Mortgage & Housing Corp. (CMHC) said. Work began on 79 percent of condo buildings only after developers pre-sold at least 70 percent of the ...