The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.
Bloomberg Britain’s bank chief executives can sleep easy. Peer-to-peer lenders are unlikely to dent their dominance of the loan market over the next decade, according to Deloitte LLP. Online platforms connecting investors directly with consumer and commercial borrowers will probably account for about 1 percent of the 600 billion pounds ($874 billion) of total lending by 2025, according to ...
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May, 2016
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23 May
Qatar First Bank signs deal with UK’s realty adviser JLL
EMIRATES BUSINESS Qatar First Bank L.L.C. (QFB), a leading Shari’ah compliant bank based in Qatar offering investment opportunities and innovative financial solutions with local, regional and international reach, announced the signing of an agreement with JLL, in order to offer shareholders and clients the ability to source real estate opportunities based on their specific requirements and budget. Signed at ...
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23 May
US’s midwest drives home sales growth
AP Midwestern homebuyers helped spark a national increase in real estate sales during April, a sign that demand for housing remains steady despite rising prices and tight inventories. Sales of existing homes rose 1.7 percent last month to a seasonally adjusted annual rate of 5.45 million, the National Association of Realtors said. Americans are eagerly searching for homes. But ...
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23 May
Eiffel Tower to be turned into rental apartment at Euro 2016
AFP Four lucky competition winners are set to be the first people in history to use the Eiffel Tower as a vacation home next month. Rental company HomeAway is taking over part of the first floor of the iconic 300-meter (yard) landmark for the duration of the UEFA Euro 2016 soccer tournament in Paris, and transforming it into Hausmannian-style ...
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23 May
Condos at ‘Ground Zero mosque’ site get global financing
Bloomberg A luxury-condo project planned for the lower Manhattan site of what was once to be the “Ground Zero mosque†has received $219 million in financing from an international consortium of lenders, paving the way for 50 high-end units to enter a New York market that is growing heavy with them. Developer Soho Properties, led by Sharif El-Gamal, said ...
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23 May
VietJet to buy 100 Boeing planes for $11.3 billion
Hanoi / Bloomberg Boeing Co. won an order for 100 jets from VietJet Aviation Joint Stock Co. valued at $11.3 billion in list prices as Vietnam’s only private airline expands fleet amid a surge in travel. VietJet signed the agreement on Monday in Hanoi during President Barack Obama’s visit to Vietnam. Delivery of the Boeing 737 Max 200 planes ...
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23 May
Ryanair posts €1.24 billion profit
Dublin / AP European budget carrier Ryanair posted record full-year profits and passenger figures, and expects both to hit new highs this summer amid rapid growth and declining fares. Monday’s results for the year ending March 31 showed the Dublin-based airline strengthening on every front. Net profit before exceptional gains rose 43 percent to 1.24 billion euros ($1.4 billion) and ...
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23 May
Embraer sells $260mn in private jets
Brasilia / Bloomberg Brazilian planemaker Embraer SA said it sold 23 business jets with a list value of $260 million to an expanding Mexican charter operator, which has an option to double the order. Servicios Aereos Across SA has begun to take deliveries for the first aircraft in its firm order, which includes eight Legacy 500, eight Phenom 300 ...
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23 May
SpiceJet to revive jet fuel hedging
Mumbai / Bloomberg SpiceJet Ltd. is considering hedging jet fuel for the first time since 2009-10 as the Indian budget carrier expects crude oil prices to rise further, people with direct knowledge of the plans said. Oil has surged more than 70 percent from a 12-year low reached in January on signs the global surplus will ease as US ...
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23 May
India’s budget mini space shuttle blasts off
Sriharikota / Bloomberg India successfully launched a scale model of a reusable spacecraft on Monday, a project that in time could pit the nation against billionaires Jeff Bezos and Elon Musk in the race to make access to space cheaper and easier. The winged vessel — one-fifth of full size — blasted off on a rocket from Sriharikota base ...
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