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 Ministry of Foreign Affairs and International Cooperation (MOFAIC) co-hosted in Abu Dhabi the Tidewater Development Cooperation Meeting, with the Development Assistance Committee (DAC) of the Organisation for Economic Co-operation and Development (OECD). The Tidewater Meeting convenes ministers and heads of major bilateral and multilateral aid agencies and development banks each year for a strategic conference ...

  Dubai / WAM The Dubai Electricity and Water Authority (DEWA) recently organised workshops to review strategies, and cascaded each division’s strategic plans and Balanced Scorecards within DEWA’s corporate strategy. The first workshop, held in cooperation between DEWA’s Strategy and Business Development and other divisions, took place in May. “Strategy is the cornerstone of our success and the means by which ...

  Dubai / Emirates Business Hussain Al Qemzi, CEO, Noor Bank, one of the fastest growing Islamic banks in the region, on Wednesday rang the market-opening bell to celebrate the listing of Noor Bank’s USD 500 million debut Tier 1 Sukuk on Nasdaq Dubai. It was the 11th Sukuk listing in Dubai this year, as well as the first perpetual ...

  London / AFP Outgoing British prime minister David Cameron urged his successor Theresa May on Wednesday to maintain close ties with the EU even while negotiating to leave it, as he paid a fond farewell to MPs hours before leaving office. In his final question and answer session in the House of Commons, Cameron said he would “miss the ...

  WASHINGTON / AFP A frustrated US Secretary of State John Kerry is heading back to Moscow once again to meet President Vladimir Putin and test his commitment to the stalled Syrian peace process. Russia and the US are nominally co-chairs of international efforts to bring Bashar al-Assad’s regime to the negotiating table with armed opposition groups. But ferocious bloodshed continues ...

  Paris / AFP French President Francois Hollande, German Chancellor Angela Merkel and Italy’s Prime Minister Matteo Renzi will meet in August for a summit on Britain leaving the EU, the French presidency said on Wednesday. On the day that Theresa May takes over as the post-referendum British prime minister, French government spokesman Stephane Le Foll said “a summit or meeting” ...

  Ankara /AFP France on Wednesday said it had closed its embassy in the Turkish capital Ankara and its consulate in Istanbul until further notice for security reasons, after cancelling events to mark the July 14 Bastille Day holiday. “The Embassy of France in Ankara, as well as the Consulate General in Istanbul will be closed from Wednesday July 13, ...

  Dallas, United States / AFP President Barack Obama implored Americans of all races to show more unity and understanding as he addressed an emotional memorial for five slain policemen in Dallas. The president, accompanied by First Lady Michelle Obama, leaned heavily on scripture as he ministered to a country stunned by gun violence and torn asunder by race and ...

  Bloomberg Wherever you look in global financial markets, signs are emerging that the fallout from Britain’s vote to leave the European Union is under control. Global stocks rose a fifth day, reclaiming almost $4 trillion in value lost in the days following the U.K.’s referendum as speculation grows that central banks will boost stimulus at the same time signs ...

  LONDON / Reuters U.K. coffee drinkers should brace to pay more for their morning fix as domestic roasters start to pass on increased import costs after Britain’s Brexit vote. London’s small-scale producers, who help supply the capital’s taste for a quality roast, are facing a steep rise in the price of coffee beans after the pound slumped to the ...