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

Bloomberg In the US, Wall Street’s biggest investment banks have been known to reject about 95 percent of job applicants. In China, it’s often the other way around. Although international securities firms are stepping up efforts to expand in Asia’s largest economy, experienced local recruits tend to prefer state-backed companies such as China International Capital Corp and Citic Securities Co. ...

Bloomberg Amazon.com warehouse workers in Minnesota plan to strike during the online retailer’s summer sales extravaganza, a sign that labour unrest persists even after the company committed to paying all employees at least $15 an hour last year. Workers at a Shakopee, Minnesota, fulfillment centre plan a six-hour work stoppage from July 15, the first day of Prime Day. Amazon ...

Bloomberg A rise of more than 55 percent in Ocado Group Plc’s shares this year, and increased competition, has put the UK online grocer and technology provider back in the sights of bearish speculators. Short interest in Ocado climbed above 5 percent of shares outstanding for the first time since July 2018 last month, after touching a multiyear low in ...

Bloomberg The UK plans to fine British Airways 183.4 million pounds ($230 million) over computer attacks that exposed customer data, marking the first major application of far-reaching European Union rules requiring companies to tighten anti-hacking measures. The proposed penalty relates to data theft affecting about 500,000 customers between June and September last year, the UK Information Commissioner’s Office (ICO), which ...

Bloomberg Chuck Hughey braves security lines at Pittsburgh International Airport at least once a week. Not to catch a flight, but to get an ice cream cone or cruise a few of the concourses. Is he nuts? Not at all, he will tell you, just a doting grandfather. He and 3-year-old Cleo spend quality time there, riding the trams between ...

MOSCOW / WAM The UAE has been named as the partner country of Moscow Global Forum ‘City for Education’ set to take place in conjunction with Aqdar World Summit from August 29 until September 1 in Russia. Maadhad Hareb Mughair Al Khaili, UAE Ambassador to Russian Federation highlighted importance of hosting such international events that ensure the exchange of knowledge ...

ABU DHABI / WAM Around AED31 billion was generated through 10,000 plus real estate transact-ions across Abu Dhabi Emirate in first half of 2019, according to the first biannual report of the Department of Urban Planning and Municipalities (DPM). “These results demonstrate the buoyant real estate market in Abu Dhabi,” Falah Al Ahbabi, Chairman of the DPM, commented, adding, “These ...

Al Ain / Emirates Business Strata Manufacturing, the advanced composite aero structures manufacturing company wholly-owned by Mubadala Investment Company PJSC, is to expand its current manufacturing facilities to on board the assembly of the Boeing 787 Dreamliner vertical fins. The modifications to Strata’s existing facility at Nibras Al Ain Aerospace Park follow an agreement signed by the two aircraft manufacturers ...

Dubai / Emirates Business Etihad Credit Insurance (ECI), the UAE federal credit insurance company has signed a memorandum of understanding (MoU) with the Corporate Banking division of Emirates NBD, enabling them to expedite their global business reach. This partnership will empower UAE-based firms to strengthen their presence regionally and internationally by providing them access to ECI’s comprehensive range of trade ...

Dubai / WAM Smart Dubai has upgraded its flagship “Dubai Now” application, designed to be the city’s one-stop shop for smart services, which will allow users to donate to four types of beneficiaries during the Year of Tolerance. Launched in collaboration with the Dubai Department of Finance (DoF), the new feature offers a platform in which donations can be made ...