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

  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 ...

  Seoul/ AP Kia Motors Corp., South Korea’s second-largest automaker, posted a solid first-quarter net profit on Wednesday on the back of a weaker Korean won and strong demand for its SUVs and motorhomes. Net profit stood at 944.6 billion won ($822.7 million) during the January-March period, up 4.6 percent from a year earlier, the company said in a regulatory ...

  Seoul / AFP An extended export slump and weakening domestic consumption saw South Korea’s economic growth slow in the first quarter, despite record low interest rates, the central Bank of Korea said. Asia’s fourth largest economy expanded 0.4 percent in the January-March period from the previous quarter, and 2.7 percent compared to a year earlier.On-quarter growth in the final ...