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

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 ...

ABU DHABI / WAM President His Highness Sheikh Khalifa bin Zayed Al Nahyan, and in his capacity as Ruler of Abu Dhabi, has issued an Emiri Decree on reshuffling the Supreme Petroleum Council under his chairmanship. The decree also named the following as members: His Highness Sheikh Mohamed bin Zayed Al Nahyan as Vice President, HH Sheikh Hazza bin Zayed ...

DUBAI / WAM The United Arab Emirates has ranked 19th globally in the Global Entrepreneurship Index (GEI) Report 2016, advancing one spot from last year and surpassing countries such as Norway, South Korea, Turkey and Japan. The UAE topped the list of countries within the Middle East and North Africa region, which comprises 15 countries, including Turkey. An analysis of ...

ABU DHABI / WAM Sultan bin Saeed Al-Mansouri, Minister of Economy, discussed economic and trade cooperation with Egypt and Czech Republic, and ways to strengthen the bilateral relationship for greater mutual benefit. Al-Mansouri held separate meetings with Wael Jad, Ambassador of the Arab Republic of Egypt and Alexander Sporish, the Ambassador of the Czech Republic to the UAE. During his ...

DUBAI / WAM Saeed Mohammed Al Tayer, MD & CEO of Dubai Electricity and Water Authority (DEWA), received a high-level delegation from the Hamburg Chamber of Commerce led by Fritz Horst Melsheimer, President of the Hamburg Chamber of Commerce, and Dr Hans-Jorg Schmidt-Trenz, CEO of the Hamburg Chamber of Commerce. The delegation is visiting UAE to participate in the 5th ...