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

  Bloomberg Saudi Arabia’s new state-owned discount carrier plans to build a fleet of as many as 50 aircraft by 2020 and will choose within weeks between narrow-body models made by Airbus Group SE and Boeing Co. Flyadeal will select either Airbus A320s or Boeing 737s that it will lease or obtain through a transfer of orders from parent company ...

  Bloomberg Whitbread Plc, the owner of Premier Inn hotels, reported a 12 percent increase in full-year earnings, exceeding analysts’ estimates, fueled by its Costa Coffee chain. Full-year underlying pretax profit rose to 546 million pounds ($792 million), Whitbread said in a statement on Tuesday. The median analyst estimate was for 539 million pounds. “Premier Inn and Costa benefit from ...

  Bloomberg Alibaba has found favour again with US investors, rebounding from its February low. But the company still can’t buy love in Hong Kong, where it first planned to list before departing for a New York float. The latest battle: Hong Kong’s takeover panel, part of the Securities and Futures Commission, ruled on Tuesday that while it won’t punish ...

  Beijing / AP Automakers are showcasing a new generation of luxurious SUVs at China’s biggest auto show of the year as they battle for buyers in the country’s cooling, crowded market. Honda Motor Co. held world debuts Monday for two SUVs, reflecting China’s high profile in the global industry. Ford, Volkswagen, General Motors and China’s Chery also displayed new ...

  London / AFP A rare handwritten letter from a young Queen Elizabeth II telling the story of her romance with Prince Philip before their 1947 wedding has been sold at auction. The note, penned when she was a 21-year-old princess, recounts the early stages of their relationship from their rare meetings in wartime to the London dances they attended together. ...

  DPA Charlie Chaplin touched the hearts of millions of fans and now they can visit the English-born silent-film comedian’s former Swiss home, which has just been converted into a museum. Chaplin’s World is comprised of the entertainer’s former mansion, studio and park stretching out over nearly 10 acres alongside Lake Geneva in Switzerland. The museum promises “an extraordinary adventure ...

  Sunaina Rana / Emirates Business Riverbed was founded in 2002, shipped its first product (SteelHead) in 2004, went public in 2006 with the most successful IPO that year, surpassed US$1 billion in revenue in 2013 for the first time, and again in 2014 and 2015. The company now works with over 27,000 customers which includes 98 percent of the ...

  Our Correspondent / EMIRATES BUSINESS The Zuhour Group successfully operates and conceptualises F&B propositions in the Middle East. With a dedicated core approach, the Group has profitably developed a track record of working on unbeatable restaurant concepts, and offers its employees a great environment to work. The Group accentuates on its ability to build unique concepts with restaurants and ...

  DUBAI / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, launched on Monday the Dubai Autonomous Transportation Strategy, which aims to transform 25% of the total transportation in Dubai to autonomous mode by 2030, saving AED 22 billion in annual economic costs. He said, “Dubai is ...

  Riyadh / AFP Saudi Arabia said on Monday it would create the world’s largest wealth fund and sell shares in state energy giant Aramco as it unveiled a vast plan to transform its oil-dependent economy. The announcement of the long-term reform programme, dubbed “Saudi Vision 2030”, marks the beginning of a hugely ambitious attempt to move Saudi Arabia beyond ...