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

Australia is in the midst of evaluating its strategic partner for SEA1000, the Future Submarine Project. As Andrew Davies, director of the Australia Strategic Policy Institute, wrote, this is a “wonderful case study of defense acquisition” spanning “every aspect of defense decision-making from long-term strategic crystal ball gazing, including the possible impact of future technologies, through military strategy development and ...

ABU DHABI / EMIRATES BUSINESS The Emirates Securities Market Index has decreased by -0.61% to close at 4367.17 points. Accordingly the Market Capitalization has lost AED 4.31 billion attaining AED 708.41 billion. A total of 2.16 billion shares were traded with a total value of AED 2.8 billion during the trading session of 02-03-2016 through 22489 transactions. The number of companies which ...

Bloomberg A global equities rally gathered momentum in Asian trading and emerging-market currencies strengthened as economic data from the U.S. and Australia spurred risk-taking. Copper rose and gold fell. Benchmark share gauges jumped more than 3 percent in China, Hong Kong and Japan, while the Stoxx Europe 600 Index climbed for a fifth day. Australia’s dollar rose for a third ...

Sunaina Rana / Emirates Business Paper from lime stone, low-grammage recycled paper and those made from sustainably sourced tree fiber — paper-producing biggies of the world are leaving no stones unturned to stay on the eco-friendly bandwagon. Over 300 exhibitors from 36 countries showcased the latest trends in the industry at the 6th edition of Paperworld Middle East 2016, which ...

ALKESH SHARMA / Emirates Business Credit cards could be alluring but at the same they could also land you in soup if not used wisely. UAE is known globally for the wide circulation of plastic money and penchant of its residents of using credit cards. A recent report stated over 50 percent of UAE residents prefers using credit card mechanism ...

RITIKA SHARMA / Emirates Business Cross-border partnerships, workforce localisation, inclusion of women in aerospace and future of unmanned aircraft systems — are a few topics to be discussed at the Global Aerospace Summit, which are bound to make it a unique experience. The much-awaited biennial aviation event to be held at ADNEC in Abu Dhabi is expected to put an ...

PARIS / Bloomberg With some of their European rivals including Deutsche Bank AG still reeling from full-year losses, French banks entered a tumultuous 2016 with the strongest earnings in almost a decade and pledged to reward shareholders with higher dividends. Their resolve is about to be put to the test. In France, a focus on consumer lending has helped shield lenders ...

New Delhi / BLOOMBERG State Bank of India (SBI) shares surged the most in more than five years, leading a rally in the nation’s lenders after the central bank eased rules allowing them to bolster capital ratios. SBI, the nation’s largest lender by assets, jumped as much as 11 percent, the biggest intraday gain since June 2010, and traded 8.9 ...

Cape Town / Bloomberg Nedbank Group Ltd., the South African lender controlled by Old Mutual Plc, said full-year profit gained 9.4 percent after the retail unit boosted customer numbers and the bank controlled costs. Net income rose to 10.72 billion rand ($688 million), from 9.8 billion rand in 2014, the Johannesburg-based company said in a statement on Wednesday. Earnings per ...

Bloomberg The Reserve Bank of Australia (RBA) slashed euro holdings in its currency reserves to 20 percent from 45 percent in 2012 and recently added the South Korean won. The central bank said on Wednesday it had allocated 5 percent of net reserves to the won, in line with holdings of the Japanese yen, Canadian dollar, British pound and Chinese ...