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

Jerusalem / AFP Israeli Prime Minister Benjamin Netanyahu backed down on Monday from his attempts to appoint a former settler leader as ambassador to Brazil, which has since August refused to accept the nomination. Netanyahu “decided to appoint Dani Dayan as consul general in New York. He will replace foreign ministry career official Ido Aharoni, who is completing his term,” ...

Seoul / AFP South Korean activists on Monday launched tens of thousands of anti-Pyongyang leaflets into North Korea for the second time in three days, amid heightened military tensions on the divided peninsula. The conservative activists, including many North Korean defectors, used gas-filled balloons to float 100,000 leaflets criticising North Korean leader Kim Jong-Un over the heavily militarised border. Some ...

Bloomberg Rebels who control the Yemeni capital Sanaa have released nine Saudis in exchange for 109 Yemenis, the Riyadh-led coalition fighting them said on Monday, in the latest sign of tensions easing before peace talks. “Nine Saudi prisoners have been recovered and 109 Yemenis who were arrested in the military operations zone” near the border have been handed over, the ...

Damascus / AFP Syrian forces strengthened their hold on Palmyra on Monday and pushed forward against the IS extremist group after dealing it a major blow by retaking the ancient city. Antiquities director Maamoun Abdulkarim said that with UNESCO’s approval the treasured monuments damaged or destroyed by the extremists could be restored in five years. Government troops and allied militia, ...

Bloomberg Brussels Airlines NV, which lost its main airport hub after the worst terrorist attack in Belgium’s history, has decamped to four other cities to maintain service, even using buses to get people to flights at alternative airports. After the bombing, which killed 11 at the airport, the carrier shifted some airplanes and crew to Frankfurt and Zurich, to maintain ...

Bloomberg Skymark Airlines Inc. exited bankruptcy administration and forecast its first operating profit in three years after reducing its fleet, cutting routes and getting new funding. The carrier expects to report 1.5 billion yen ($13 million) in operating profit and sales of 70 billion yen for the year ending March 31, Skymark said in a statement on Monday. Skymark also ...

Bloomberg Craigslist could learn a thing or two from Quikr. The Indian equivalent of the free classifieds service publishes product ratings, handles payments and shipping and — crucially — releases payment only after a buyer gives their purchase a once-over and a virtual thumbs-up. In so doing, the site that lists for sale everything from smartphones to cars is trying ...

Bloomberg Indian airport operator GVK Power & Infrastructure Ltd. said it sold a stake in its Bengaluru aerodrome to Fairfax Financial Holdings Ltd., helping cut debt. The shares rose. Fairfax will buy 33 percent of Bangalore International Airport Ltd. for 21.49 billion rupees ($322 million), GVK said in a statement to the Mumbai stock exchange on Monday. GVK, which also ...

SUNAINA RANA / EMIRATES BUSINESS Taste of Italy by Heinz Beck is Dubai’s exciting new casual dining offering and one that is creating a well-deserved buzz among the city’s discerning gourmands who are seeking a more interactive eating venture. The restaurant is located in the heart of Jumeirah at Galleria Mall on Al Wasl road, Dubai. Chef Heinz Beck, founder ...

Sunaina Rana / EMIRATES BUSINESS The Urban Yogi offers you a sustainable eclectic mix of home style, luxury furniture and accessories. It is local grown brand, offering its customers array of unique and conventional pieces of decoration or furniture to adorn your adobe. Nisha Verman Shetty founder and CEO of this distinctive brand in 2012, The Urban Yogi dominates urban ...