The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.
Bloomberg Tesla Inc. has begun taking $1,000 deposits for its remarkable solar roof tiles—to be delivered this summer at a price point that could expand the US solar market. Tesla will begin with production of two of the four styles it unveiled in October: a smooth glass and a textured glass tile. Roofing a 2,000 square-foot home in New York ...
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May, 2017
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11 May
Saudi Al Borg Medical to buy Anglo Arabian’s lab business
DUBAI / Reuters Saudi Arabia’s Al Borg Medical Laboratories, one of the largest private medical laboratory chains in the Gulf, has agreed to buy the lab business of Anglo Arabian Healthcare, majority owned by Waha Capital, sources told Reuters. The two parties signed an agreement in December though a number of terms and conditions remain to be met before the ...
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11 May
India’s GST a bonanza for global accounting firms
Bloomberg What is taxing for some in India has become brisk business for others. With seven weeks to go before the nationwide Goods and Services Tax is implemented, Indian companies are rushing to bring in experts to help prepare their accounting and information technology systems for the tax-system overhaul. That’s created a windfall for international professional services firms, including PricewaterhouseCoopers ...
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11 May
China’s cement giant sees big opportunity in Silk Road initiative
Bloomberg China National Building Material Group, the nation’s biggest cement maker, aims to capitalize on a surge in business opportunities from President Xi Jinping’s “Belt and Road†initiative as projects spur an infrastructure boom in the region, according to its chairman, Song Zhiping. “If you want to get rich, build a road first,†Song said in a Bloomberg Television interview ...
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11 May
China’s $246bn deal spree crumbling as sellers balk
Bloomberg China’s biggest-ever foreign acquisition frenzy is ending almost as dramatically as it began. After stunning the world with a record $246 billion of announced outbound takeovers in 2016, Chinese dealmakers are now struggling to cope with tighter capital controls and increasingly wary counterparties. Cross-border purchases plunged 67 percent during the first four months of this year, the biggest drop ...
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11 May
India to develop roads in SAARC nations
Bloomberg India plans to develop roads in neighboring countries as it seeks to strengthen its position in South Asia amid the growing influence of China. State-owned National Highways Authority of India plans to build roads abroad even as it falls short of construction targets at home and seeks to raise funds overseas to finance local projects. “There are lots of ...
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11 May
Nissan predicts surprise drop in annual profit
Bloomberg Nissan Motor Co. forecast a surprise drop in annual profit on expectations for higher raw material costs and a stronger yen, and as price competition increases in the US and China. Operating profit will probably fall 7.7 percent to 685 billion yen ($6 billion) in the fiscal year through March, compared with the average analysts’ estimate for a gain ...
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11 May
Euro-area growth forecast up with risks more balanced
Bloomberg Growth in the euro area will be slightly stronger this year than previously forecast, the European Commission said, adding that some risks to the outlook have eased following the defeat of populist parties in France and the Netherlands. The commission sees the 19-nation economy expanding 1.7 percent this year — up from 1.6 percent forecast in February — and ...
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11 May
VW CEO directly drawn for first time into diesel row
Bloomberg While dealing with Volkswagen AG’s legal woes over the last 1 1/2 years, Chief Executive Officer Matthias Mueller was able to claim that he was not personally caught up in investigations. That has now changed, potentially complicating his efforts to turn the page on the biggest scandal in the German automaker’s recent history. Mueller, brought in at the height ...
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11 May
Snap CEO dismisses growth shortfall, scoffs at Facebook
Bloomberg For a guy who just lost about a quarter of his net worth, Snap Inc. co-founder Evan Spiegel exuded confi- dence on his first earnings conference call, explaining away the company’s shortcomings and even throwing shade at his bigger — and far more successful — social media rival, Facebook Inc. Facebook has been copying some of Snapchat’s most popular ...
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