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

Bloomberg The World Bank Group appointed Anshula Kant of the State Bank of India as chief financial officer, according to a statement in Washington. Kant is currently a managing director at SBI and previously served as its CFO, the World Bank said. It hasn’t yet announced when Kant will start the new job. Kant will report to World Bank President ...

Bloomberg It’s long seemed that nothing could unite President Donald Trump and Democrats on Capitol Hill. Then Facebook decided to create a cryptocurrency. Washington’s bipartisan distrust of the social-networking giant will be on display as it defends the digital-money proposal in two congressional hearings. In a sign that the testimony is likely to be an ordeal for Facebook, Trump took ...

Bloomberg Alitalia’s rescue by Italy’s state-owned railway and investors including US carrier Delta Air Lines Inc may still be weeks away despite a looming deadline for offers for the loss-plagued carrier, people familiar with the matter said. Ferrovie dello Stato SpA is set to tell the carrier that its rescue plan has attracted potential investors, including Delta and Atlantia SpA, ...

Bloomberg London’s Heathrow Airport intends to speed up spending on its controversial third runway, even before getting approval for the 14 billion-pound ($18 billion) project, according to the industry regulator. Europe’s busiest airport plans to boost early spending to 2.9 billion pounds, in 2014 prices, so it can stay on schedule for a planned 2026 opening, the Civil Aviation Authority ...

Bloomberg Fast Retailing Co’s profit fell short of analyst estimates as weakness in the Uniqlo owner’s home market of Japan overshadowed a strong showing in overseas markets, particularly China. Operating profit rose to 74.8 billion yen ($692 million) in the three months ended on May 31, according to a statement from Asia’s largest retailer. That compares with analysts’ average estimate ...

Bloomberg Two of the major US airlines that fly Boeing Co’s grounded 737 Max have taken the plane off their schedules until early November, the latest sign that the jet may not resume commercial service this year. American Airlines Group Inc adjusted its schedule for the fifth time to accommodate the Max’s lengthening absence since its March 13 grounding. The ...

Bloomberg Will Smith is selling water. Kobe Bryant is pushing deodorant. Mark Wahlberg is peddling protein powder. Amazon.com is tapping high-profile actors, athletes and social-media sensations like never before to maintain buzz around its Prime Day summer sale, now in its fifth year and battling increasing competition from rivals. Discounted pressure cookers and gadgets just aren’t enough to stand out ...

Bloomberg Sports Direct International Plc shares headed towards a seven-year low after the UK sports-apparel retailer delayed publishing its results as auditors increase their scrutiny of its accounting. The UK retailer said it needs more time to compile information as regulators review Grant Thornton’s audit of its fiscal 2018 results, and that the review may affect its financial guidance. The ...

ABU DHABI / WAM The Industrial Production Index rose by 16.6 percent in the first quarter of 2019, compared to the same period in 2018, rising from 122.3 percent to 142.5 percent during the monitoring period, according to figures released by the Statistics Centre-Abu Dhabi (SCAD). The index also rose by 42.4 percent in the first quarter of 2019, compared ...

SHARJAH / WAM Real estate transactions worth AED14.7 billion were record-ed in the Emirate of Sharjah in the first half of 2019, according to a latest report of the Sharjah Real Estate Registration Directorate (SRERD). Abdul Aziz Ahmed Al Shamsi, Director-General of the Sharjah Real Estate Registration Directorate in Sharjah, said that 27,588 total transactions were recorded that covered 24 ...