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

ABU DHABI / EMIRATES BUSINESS The Emirates Securities Market Index has increased by 0.89% to close at 4480.72 points. Accordingly the Market Capitalization has gained AED 6.38 billion attaining AED 726.83 billion. A total of 0.98 Billion Shares were traded with a total value of AED 0.93 billion during the trading session of 07-04-2016 through 9887 transactions. The number of companies which ...

Bloomberg Abu Dhabi General Services Company (Musanada) has extended the tender closing dates for the two design-and-build contracts for the proposed crossing that will connect Al-Reem Island, Umlifaina Island and the rest of Abu Dhabi. Contract 2 is now due to be submitted on April 17 and the deadline for Contract 1 is April 27. The original tender closing date ...

Bloomberg Beijing Homelink Real Estate Brokerage Co. is seeking to raise funds in a financing round that will give the property company a valuation of about 40 billion yuan ($6.2 billion), according to people familiar with the matter. Homelink, which focuses on rental and second-hand real estate transactions, is raising about $1 billion and has attracted funding from Chinese Internet ...

Bloomberg U.S. hedge funds may sell stakes in office landlord IVG Immobilien AG in the second half as a turnaround of the once-struggling German company nears completion, people with knowledge of the matter said. The funds are most likely to sell IVG’s main property business in a public offering, said the people, who asked not to be identified because the ...

WASHINGTON / Bloomberg U.S. construction spending fell in February by the largest amount in three months. Weakness in nonresidential construction and government offset the strongest month for home construction in more than eight years. Construction spending fell 0.5 percent in February following a 2.1 percent January gain, the Commerce Department reported. Spending declines on construction of factories, communication facilities and ...

Bloomberg Sales of U.S. vacation homes tumbled last year from record levels as buyers were held back by tight inventory and turbulence in financial markets. An estimated 920,000 vacation properties changed hands, down almost 19 percent from a high in 2014, according to a survey released on Wednesday from the National Association of Realtors. By comparison, sales of primary owner-occupied ...

Our Correspondent/ Emirates Business Australian cafe chain, ‘The Coffee Club’ entered the UAE market in the beginning of 2015 with its first branch at Abu Dhabi’s Yas Mall and later expanding to Dubai in March 2015. Over the past one year, the coffee chain has ventured into different locations in the UAE. “The first year has been a whirlwind. The ...

Our Correspondent / EMIRATES BUSINESS Insportz Club is an indoor sports centre that offers the community in general the facility for indoor cricket, football, basketball, hockey, table tennis and others; all in a professionally managed environment which includes expert coaching. InSportz is UAE’s first fully air-conditioned indoor sports facility based in Al Quoz 3 Dubai. The arena also boasts of ...

Sunaina Rana / Emirates Business Smart homes technology is undergoing boom across the UAE, but at the same time it brings along many apprehensions. Industry experts have rung the security alarm and asked for the secure upkeep of personal details of the stakeholders. They advised the consumers to stay more vigilant while sharing private data with cyber companies involved in ...

Ritika Sharma / Emirates Business On the sidelines of Dubai Chamber’s analysis that confirmed UAE retail market size at US$35.4 billion in 2015, retailers across UAE say they will be investing more in business as they expect 2016 to be favourable too. The analysis said that Dubai witnessed sustained annual growth rates of 3.5 percent to 7.5 percent since 2010, ...