The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.
Luton / AFP-Bloomberg British no-frills airline EasyJet on Tuesday said it had fallen into a loss during the first half of its financial year in the wake of the Brussels attacks. Its earnings statement added that future revenues would be impacted also by recent events in the Belgian capital. Net losses stood at £20 million ($29 million, 25 million …
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May, 2016
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10 May
Gap plummets after comeback plan fails
Bloomberg Gap Inc. shares plunged as much as 15 percent in late trading after the apparel chain posted disappointing results, a sign the company’s much-vaunted springtime comeback hasn’t materialized. Same-store sales — a key benchmark — dropped 7 percent in April, the San Francisco-based retailer said in a statement. Analysts had predicted a gain of 1.1 percent, according to Retail …
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10 May
AB Foods in early stages of sale of Chinese business
Bloomberg Associated British Foods Plc, the British food-to-retail conglomerate, plans to sell its Chinese sugar business for as much as $1 billion, according to a person familiar with the matter. The process is in the very early stages and there’s no timetable for completion, said the person, who declined to be identified as the information is private. AB Foods …
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10 May
Turkish Airlines posts biggest loss as direct traffic dips
Bloomberg Turkey’s national airline reported the biggest loss since at least 1999 in the first quarter as geopolitical risks and security concerns pressured direct traffic into the country. Turkish Airlines posted a loss of 1.24 billion liras ($422 million) in the three months through March, compared with a net income of 373 million liras in the same period a …
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10 May
JD.com dips as sales go sluggish amid growth concern
Bloomberg JD.com Inc., China’s second-biggest online retailer, plunged after it reported flagging sales growth on its marketplaces and management expressed concern about the country’s economic slowdown. The American depositary receipts dropped 7 percent in New York to $23.43, the lowest since February 12. Trading volume of 45.3 million shares was more than triple the daily average of the past …
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10 May
Florida pharmacies help crisis-hit Venezuela
Miami, United States / AFP The phone rings off the hook these days at some pharmacies in Florida and the calls are long-distance: from Venezuelans desperate for everything from diapers to cancer medication. Venezuela, though sitting atop the world’s largest proven oil reserves, is enduring an acute economic crisis due in part to the global drop in crude prices and …
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10 May
US buyers go crazy for SUVs
Detroit /Â AP Louis Cervi was looking to buy a small car for basic transportation with a monthly payment in the mid-$200 range. After six months of looking, Cervi, 41, drove off a dealer lot north of Pittsburgh in a Ford Focus for US$192 a month. The dealership even accepted his 2001 Chevrolet Monte Carlo with a failed transmission as …
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10 May
Serving ‘joy’ at Honda
Our Correspondent / Emirates Business Honda Motor Co. (Africa and the Middle East Office) was established in 1993 and initially the main objective was to look after only two countries in Middle East, namely KSA and UAE. Now, the company is looking after 21 countries and is offering an entire Honda range of products i.e. automobiles, motorcycles and power products. …
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10 May
A new dimension in fine dining
Our Correspondent / EMIRATES BUSINESS Presenting a fresh take on innovative Mediterranean cuisine in an exclusive and upscale setting, LaLuz Four Seasons DIFC excites the imaginations and palates of Dubai’s fine dining aficionados with its array of Catalonian and Mediterranean cuisine. Lavishly appointed and with a sophisticated and urbane ambience, LaLuz, which sprawls over an expansive area, with separate …
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9 May
Innovation key to UAE’s future
DUBAI / WAM Vice President and Prime Minister of UAE and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, said that the UAE has adopted innovation as an institutional approach and a culture of the society that aims at developing its human factor as well government institutions, as part of its drive to build a sustainable …
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