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

Adam Minter Airline passengers are being packed into planes “like sardines,” says U.S. Senator Charles Schumer. So he wants the Federal Aviation Administration to set minimum seat-size guidelines. The point, Schumer suggested, is to right an injustice: “It’s just plain unfair that a person gets charged for extra inches that were once standard.” In other words: Everyone could soon get ...

ABU DHABI / EMIRATES BUSINESS The Emirates Securities Market Index has increased by 1.18% to close at 4418.81 points. Accordingly the Market Capitalization has gained AED 8.38 billion attaining AED 716.79 billion. A total of 0.88 billion Shares were traded with a total value of AED 1.28 billion during the trading session of 03-03-2016 through 12114 transactions. The number of companies which ...

Bloomberg Asian shares and currencies rose along with industrial metals as improving U.S. economic data coupled with prospects for stimulus in China spurred risk-taking. The MSCI Asia Pacific Index was set for its biggest three-day rally since August, led by banks and raw-materials producers. The Stoxx Europe 600 Index snapped a five-day winning streak. South Korea’s won and Malaysia’s ringgit ...

Bloomberg Investors in European companies reliant on developing nations for revenue are proving less bullish in the prospects for a rebound in emerging markets than firms including Citigroup Inc. and Fidelity Investment Management. The region’s shares with the highest exposure to developing countries trade near record lows relative to those reliant on Europe and the U.S., according to Morgan Stanley ...

Athens / AFP EU President Donald Tusk on Thursday issued a stark warning to economic migrants not to come to Europe, as he castigated countries for taking unilateral action to tackle the crisis. On a visit to Greece — on the frontline of Europe’s worst migration crisis since World War II — Tusk told economic migrants it was pointless to ...

Bloomberg The pound ended its longest run of gains in seven months versus the euro and struggled to maintain a rally against the dollar as evidence mounted that the U.K. economy is losing momentum. Sterling retreated against 12 of its 16 major counterparts after a February index of U.K. services, which account for about three quarters of the nation’s output, ...

Bloomberg Russia’s service industry grew for the first time in five months as a weaker ruble spurred exports, adding to signs that the recession gripping the world’s largest energy exporter is easing. The Russia Services Business Activity Index rose to 50.9 in February from 47.1 in January, according to a statement released Thursday by Markit Economics. The gauge had held ...

Bloomberg A U.K. services gauge dropped in February as concerns about global growth, market volatility and the possibility of a British exit from the European Union rattled the biggest part of the economy. The Purchasing Managers Index published by Markit Economics on Thursday fell to 52.7 — the lowest since March 2013 — from 55.6. Economists had forecast a reading ...

Bloomberg Germany is falling woefully short of its target to have one million electric vehicles on the streets by 2020 so it feels the need to do something. Enter the taxpayer: the government is considering a €5,000 ($5,419) incentive to lure would-be buyers. That money could be better spent. Electric vehicles’ share of German sales: 0.4% The industry has a ...

Seoul / AfP North Korea fired six short-range projectiles into the sea on Thursday in a show of defiance just hours after the United Nations adopted the toughest sanctions to date on Pyongyang over its fourth nuclear test and rocket launch. Limited displays of military firepower have become a routine response by North Korea to international pressure over anything from ...