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

Washington / AP Americans stepped back from buying new homes in January, as purchases plunged sharply in western states where prices are typically higher. The Commerce Department said Wednesday that new-home sales fell 9.2 percent last month to a seasonally adjusted annual rate of 494,000. Most of the decline stemmed for a 32.1 drop in sales in the West. Sales ...

VANCOUVER / Bloomberg Three times a week Neil Valsangkar escapes Canada’s most expensive real estate market by paying C$100 ($73) for a 20 minute float plane ride to his Vancouver office from his home across the Salish Sea. The 50 kilometer (31 mile) aerial commute allows the father of three to live in Nanaimo, British Columbia where homes cost about ...

ALKESH SHARMA / EMIRATES BUSINESS Information technology networks in the country now have a new bug to fight. The malware which is already spreading havoc in the American and European corporate world is posing serious threats to companies in the UAE and Middle East. Industry experts have sounded an alert against ‘Locky’ — as it is named — which is capable ...

RITIKA SHARMA / Emirates Business Taxis, fashion brands and now airlines – you cannot get enough of this young nation when it comes to women. From earning global recognition for respecting women to having a higher number of female university graduates than their male counterparts, UAE has shown the world that it is more than committed to raising the status ...

Emirates Business From assembling a model of the Airbus A380, the world’s largest passenger aircraft to carry out a simulation of a launch mission to space, more than 30 female students from the UAE got an opportunity to participate at the Airbus Little Engineer workshop held alongside the Global Women’s Forum in the UAE. The workshop conducted by Airbus Middle ...

Abu Dhabi / EMIRATES BUSINESS The ultimate record-breaking roller coaster ‘Flying Aces’ launched on Wednesday at Ferrari World Abu Dhabi, delivering a unique, adrenaline-fueled experience for roller coaster lovers and thrill seekers alike. The exciting new ride was unveiled at an exclusive launch event attended by HE Mohamed Khalifa Al Mubarak, Chairman of Abu Dhabi Tourism & Culture Authority, and Mohamed ...

Sunaina Rana / EMIRATES BUSINESS UAE-based company Mena Market Place is soaring to new professional heights under the leadership of director Nader Bitar. One of the leading programmatic advertising companies in the region, the firm has now formed strategic partnerships with industry giants Just Premium and SSP Rubicon Project. Nader Bitar, Director, Mena Market Place, said, “Mena Market Place is the ...

ABU DHABi / WAM Under the patronage of His Highness Sheikh Khalifa Bin Zayed Al Nahyan, President of the UAE, Abu Dhabi will play host to the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) from November 7 to 10 at the Abu Dhabi National Exhibition Centre. Driving efficiency in the energy sector will form the cornerstone of ADIPEC 2016, ...

Sydney / AFP Australia unveiled a massive new investment in the nation’s defence capabilities on Thursday to address what Prime Minister Malcolm Turnbull called “high stakes” and “momentous times” in Asia. Citing increased defence spending around the region and potential flashpoints in the South China Sea and the Korean peninsula, he said the government was committed to combating the most ...

SYDNEY / AP Australia’s government warned on Thursday that terrorists may be in the advanced stages of preparing attacks in Indonesia, and urged travelers to exercise a high level of caution when visiting the southeast Asian nation, including the popular tourist island of Bali. The Department of Foreign Affairs and Trade issued the travel advisory, which said only that there ...