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

SHARJAH / WAM Arada announced it has begun handing over 114 townhouses and semi-detached villas in the Sarab 2 garden villa community at Sharjah megaproject Aljada. The two Sarab communities feature the only villas and townhouses in the Aljada masterplan. All homes at Sarab come with smart home features as standard and a cooker, hood and washing machine/drier installed. Spread ...

DUBAI / WAM The Emirates Mars Mission (EMM), the first interplanetary exploration undertaken by an Arab nation, has unveiled a series of unique and ground-breaking observations of Mars’ smaller moon, Deimos, using all three of its science instruments to ‘advance our fundamental understanding’ of Mars’ most mysterious moon and its larger companion, Phobos. The new observations challenge the longstanding theory ...

ABU DHABI / WAM Emirates Water and Electricity Company (Ewec) has increased its supply of clean, sustainable energy to Abu Dhabi and the Northern Emirates from 60% to over 80% in a remarkable achievement. At the end of last year, Ewec supplied 8.6 GW of energy from renewable solar and nuclear energy sources. This success is attributed to Ewec’s rapidly ...

ABU DHABI / WAM Maqta Gateway, AD Ports Group’s digital arm, on Monday announced the acquisition of TTEK Inc, a developer of border control solutions and customs systems, to reinforce its market position as a leading digital trade and holistic Single Window solution provider. The total purchase consideration for the acquisition (enterprise value) of 100% ownership amounts to $26.7 million ...

ABU DHABI / WAM UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan has sent a message of congratulations to Mohammed Shahabuddin on the occasion of his taking the oath as the President of Bangladesh. His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and His Highness Sheikh ...

BLOOMBERG  Japanese investors are snapping up foreign currencies, local stocks and US Treasuries after the country’s new central bank chief damped speculation he will start normalising policy. Among their investments, Citigroup clients are buying US and Australian dollars to profit from their interest-rate premiums over the yen, said Keita Matsumoto, head of financial institutions sales and solutions at Citigroup Global ...

BLOOMBERG  Credit Suisse Group AG reported 61.2 billion francs ($69 billion) of outflows in the first quarter and took a large writedown at its wealth management unit, underscoring the challenge for UBS Group AG in retaining key clients and assets after the emergency takeover of its biggest rival. The Swiss bank lost more than 200 billion francs ($224.77 billion) of ...

BLOOMBERG  Thailand’s central bank governor said the nation’s main political parties are trying to woo voters with policies that could undermine the country’s longer-term economic health. “Any policies that hurt fiscal discipline — creating moral hazard, destroying credit culture — need to be monitored as they can be risky,” Bank of Thailand Governor Sethaput Suthiwartnarueput told reporters when asked to ...

ABU DHABI / WAM  HH Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, has praised Saudi Arabia for its crucial role in evacuating Emirati and other foreign citizens from Sudan to their country during a phone call with Prince Faisal bin Farhan bin Abdullah, the Minister of Foreign Affairs of the Kingdom. His Highness Sheikh ...

DUBAI / WAM The upcoming Arabian Travel Market (ATM) 2023 in Dubai is set to feature over 80 of the world’s top travel technology companies, showcasing their latest innovations and advancements. The four-day event, which will take place from May 1-4 at the Dubai World Trade Centre (DWTC), will offer more than 2,000 square meters of exhibition space dedicated to ...