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

  Bloomberg Adidas AG raised its full-year profit forecast for the second time in less than three months after first-quarter results beat its own expectations and as consumers spend more ahead of the Euro 2016 soccer tournament. Net income from continuing operations will rise 15 percent to 18 percent this year, more than a prior range of 10 percent to ...

  Bloomberg The outlook for Russia’s earnings from oil exports is improving as the price of a barrel of crude in ruble terms rose to the highest in more than five months. The currency’s 2.8 percent advance this month has lagged a gain of 18 percent in Brent crude, which is used to price Russia’s main export blend. The exchange ...

  Bloomberg German Chancellor Angela Merkel’s government reached a deal with automakers to jointly spend 1.2 billion euros ($1.4 billion) on incentives to boost sluggish electric-car sales. Buyers will be able to receive as much as €4,000 in rebates to help offset the higher price of an electric vehicle, Finance Minister Wolfgang Schaeuble said at a press conference in Berlin. ...

  BLOOMBERG Treasuries rose, sending 10-year yields lower for the first time in eight days, and the dollar weakened, as markets signaled caution before the Federal Reserve’s latest interest rate decision. The Nasdaq 100 Index slumped as Apple Inc. tumbled after posting its first quarterly-revenue drop in more than a decade. Benchmark 10-year note yields retreated from the highest level ...

  ABU DHABI / EMIRATES BUSINESS The Emirates Securities Market Index has decreased by -0.52% to close at 4657.72 points. Accordingly the Market Capitalization has lost AED 3.94 billion attaining AED 755.54 billion. A total of 473.66 Million Shares were traded with a total value of AED 0.77 billion during the trading session of 27-04-2016 through 6667 transactions. The number of companies ...

  Bloomberg Iron ore forecasts for the five years through 2020 have been revised higher by the World Bank after the commodity rallied in the first quarter on a surge in steel prices in China, the largest user. The raw material is expected to trade at $50 a metric ton this year, $51.50 in 2017 and extend gains to $56.20 ...

  ABU DHABI / WAM Etihad Airways, the national airline of the United Arab Emirates, on Wednesday announced its strongest annual financial results to date, with a net profit of US$103 million on total revenues of US$ 9.02 billion. The performance, which marked the airline’s fifth consecutive year of net profitability, also saw earnings before interest and tax, EBIT, of ...

  DUBAI / Emirates Business The Telecommunications Regulatory Authority (TRA) is set to launch “Customers Happiness Week” event under the slogan “Your Happiness, Our Happiness” from April 28 to May 4. The event is part of the TRA’s efforts to enhance its relation with its strategic partners and promote communication with customers to determine their current needs and renewable desires. ...

  Tokyo / AFP The head of crisis-hit Mitsubishi Motors said on Wednesday that sales in Japan have fallen off a cliff since the company admitted last week that it has been cheating on fuel-efficiency tests. Tetsuro Aikawa, the automaker’s president, revealed that orders have dropped by almost half since the scandal erupted, as the crisis takes a toll on ...

  Sydney / Bloomberg Australian consumer prices fell in January-March for the first time since 2008 during the global financial crisis, data showed on Wednesday, putting pressure on the central bank to cut interest rates and sending the local dollar tumbling. The statistics bureau said the consumer price index (CPI) fell 0.2 percent in the quarter from the previous three ...