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

NAIROBI / Bloomberg Kenya Airways Ltd., sub-Saharan Africa’s third-largest airline, is planning a 70 billion-shilling ($690 million) restructuring programme that includes reducing its fleet and cutting staff, Chief Executive Officer Mbuvi Ngunze said. The carrier, based in the capital, Nairobi, has been working on a turnaround plan after reporting the largest loss in Kenyan corporate history last year. The carrier plans ...

NEW YORK / AP Amazon is taking to the skies. The e-commerce powerhouse has finalised an agreement to lease 20 Boeing jets from Air Transport Services Group Inc. as it builds out its US delivery capabilities. Amazon has been investing heavily in its shipping infrastructure, adding sorting centers, which sort packages by zip code and deliver them to post offices. ...

Bloomberg Cathay Pacific Airways Ltd., Asia’s largest international airline by passengers, will soon start using Airbus Group SE’s most fuel-efficient plane as it tries to trim costs in the face of mounting competition. Cathay will receive 12 new A350 aircraft this year, with the first one due in May, Chief Executive Officer Ivan Chu said after a briefing Wednesday afternoon. ...

Our Correspondent / EMIRATES BUSINESS Established in 1993, and headquartered in Valletta, Malta, InfiNet is one of the world’s largest privately owned Fixed Broadband Wireless Access (FBWA) design and manufacturing companies. In addition to their headquarters in Malta, the company have a state-of-the-art R&D facility in Ekaterinburg, Russia and a direct presence in sixteen countries (including the UAE and Saudi ...

Sunaina Rana / EMIRATES BUSINESS Kalyan Jewellers is one of most sought after jewellery brands in the Middle East. Starting its journey with a jewellery showroom in 1993 in India, it has enjoyed a long-standing presence in the market for over two decades. The brand has set a benchmark in quality, transparent pricing and innovation. Kalyan Jewellers made its foray ...

London / WAM Europe’s main stock markets pushed higher on Wednesday, shrugging off losses across Asia on the eve of a key meeting of the ECB as traders look for policy action from central bankers. The European Central Bank will almost certainly announce new stimulus measures at its policy meeting on Thursday, analysts said, as eurozone inflation turns negative and ...

ABU DHABI / WAM President His Highness Sheikh Khalifa bin Zayed Al Nahyan has issued, in his capacity as Ruler of Abu Dhabi, a law amending provisions of the Law No. 1 for 2003 pertaining to the establishment of Etihad Airways Company. Under the law, the Board of Directors of Etihad Aviation Group shall also serve as the Board of ...

Bloomberg Torrential rain and electrical storms battered the UAE, shutting Abu Dhabi’s stock exchange and the city’s international airport. Schools were closed and roads across Dubai and other emirates were flooded. Wednesday’s trades at the Abu Dhabi Securities Exchange, the second-biggest in the Gulf Cooperation Council by market value, were cancelled, according to Al Arabiya TV. No one at the ...

Dubai / WAM Local developer Emaar Properties has invited selected companies to bid by March 22 for the estimated AED500m ($136m) contract to build its Opera Grand Residential Tower in Dubai. The project involves the construction of a 65-70 storey tower a four level basement, ground floor and podium with townhouses, and 56 residential floors with seven levels for services. ...

ABU DHABI / WAM Aldar Properties PJSC (Aldar), Abu Dhabi’s leading listed property development, investment and management company, has awarded an AED 318m contract for Al Jimi Mall’s refurbishment and expansion works to Pivot Construction Company. This investment is the latest component of Aldar’s recently announced AED 3 billion investment strategy. Al Jimi Mall remains a key retail asset in ...