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

BLOOMBERG Stocks jumped around the world after Federal Reserve Chair Janet Yellen reasserted the central bank’s gradual approach to raising interest rates. Commodities climbed as the dollar extended its worst month in more than five years. Yellen’s signal that weakening world growth calls for a slow approach to tightening policy ignited gains for shares from Shanghai to Frankfurt after U.S. ...

ABU DHABI / EMIRATES BUSINESS The Emirates Securities Market Index has increased by 1.30% to close at 4482.71 points. Accordingly the Market Capitalization has gained AED 9.31 billion attaining AED 727.15 billion. A total of 0.54 Billion Shares were traded with a total value of AED 0.74 billion during the trading session of 2016-03-30 through 6705 transactions. The number of companies which ...

SYDNEY / Reuters Air New Zealand (NZ) Ltd, the biggest shareholder of Virgin Australia Holdings Ltd, has on Wednesday announced that it may sell its 26 percent stake in a sign that backers of Australia’s number two carrier are growing impatient with its slow profit turnaround. The move, nine days after Air New Zealand publicly supported Virgin’s request for a ...

Bloomberg Kenya’s government shelved plans to build a new terminal at the main international airport as the East African nation’s tourism industry struggles to recover from attacks by Islamist militants. The decision to halt the project at Jomo Kenyatta International Airport (JKIA) is the result of “prevailing economic and financial dynamics which have been on a downward trend over the ...

Bloomberg Boeing Co. plans to cut about 4,000 jobs from its commercial airplanes division by mid-year as part of a broader effort to reduce costs amid fierce competition from Airbus Group SE. The US planemaker doesn’t plan any involuntary layoffs, for now. Rather, the savings will come from 1,600 workers who elected to leave the company under a voluntary program ...

Bloomberg Seven & i Holdings Co. will meet this week to discuss leadership succession, days after billionaire activist investor Dan Loeb warned Japan’s largest retailer against creating a family dynasty, according to people with knowledge of the matter. The company’s nomination and compensation committee is scheduled to meet Wednesday, said two of the people, who asked not to be identified ...

Bloomberg Gol Linhas Aereas Inteligentes SA reported a fourth-quarter loss and predicted business would worsen this year in the face of declining demand and a shrinking Brazilian economy. The net loss was 1.18 billion reais ($324 million), the airline said in a statement after the close of trading in Sao Paulo. Fourth-quarter net revenue totaled 2.65 billion reais against analyst ...

Sunaina Rana / EMIRATES BUSINESS Veeam Software was established in 2006 by college roommates, Ratmir Timashev and Andrei Baronov in Baar, Switzerland. Timashev went from being a grad student in chemical physics at The Ohio State University to the CEO of his own start-up, Aelita Software. After seven years of leading the company, alongside Baronov, to virtually double-digit growth each ...

SUnaina Rana / Emirates Business Danat Al Ain Resort is located in Al Ain, the famous ‘Garden City of the Gulf’, a haven of peace and tranquility. The oasis city is renowned for its abundant greenery and spectacular mountain range. This spectacular place is just 5-minute drive from Al Ain town centre providing a fantastic base to enjoy all that ...

DUBAI / WAM HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, on Tuesday announced that Dubai recorded a non-oil foreign trade of AED 1.283 trillion in 2015 with AED 796 billion of imports, AED 132 billion of exports, and AED 355 billion of re-exports. Sheikh Hamdan asserted that economic ...