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

Bloomberg At least three airlines have conducted inspections on the grounded Boeing Co 737 Max concerning an issue that could damage some engine parts. The possible buildup of carbon around fuel nozzles prompted manufacturer CFM International to recommend that some operators examine and potentially replace those components of the Leap-1B models used on the Max. American Airlines Group Inc and ...

Bloomberg It’s high in protein, low in sugar, and just right for the struggling American dairy industry. It’s Icelandic yogurt, also known as Skyr, and as the meteoric popularity of the Greek product fizzles, farmers are hoping the new variety will help lift them out of years of lackluster demand. A big reason dairy producers love it: Recipes for one ...

Bloomberg Bed Bath & Beyond unveiled changes to its board of directors including the naming of Lead Independent Director Patrick Gaston as independent chairman, saying the moves were in response to shareholder feedback and connected to its commitment to accelerating board refreshment. Five current independent directors will step down from the board, with the five new independent directors being Harriet ...

Abu Dhabi / WAM Government-led policy initiatives and investments, improved growth prospects in trading partners, and preparation to host Expo 2020 Dubai are providing increased private sector credit and investment in Dubai. As a result, real GDP growth rates in the short to medium term are projected to reach 2.1 percent, 3.8 percent and 2.8 percent, in the years 2019, ...

Bloomberg Bahrain-based Gulf International Bank converted its Saudi operation into a locally incorporated bank with 7.5 billion riyals ($2 billion) capi- tal, as the lender looks to boost its presence in the kingdom. The bank’s Saudi arm will be owned equally by GIB, as the Bahraini lender is known, and Saudi Arabia’s Public Investment Fund, according to a statement. Abdulla ...

DUBAI / WAM UAE stocks maintained their upward movement and gained around AED6.2 billion in market cap at the end of the Sunday session, driven by a spree of selective purchases targeting blue chips and positive quarterly statements announced by the leading listed companies. Amidst the overall bullish sentiments, the general index of the Abu Dhabi Securities Exchange closed at ...

Emirates Business To the tune of AED39 billion in cash dividends have been paid out by listed Emirati companies for their stockholders for the year 2018. The generous cash distributions, which earn the UAE companies the lead over other Middle East-based firms in terms of dividend payouts, are reflective of the high-yield stocks traded in the country’s two main bourses ...

DUBAI / WAM The UAE and Saudi Arabia have announced a joint initiative to support the brotherly people of Sudan. The initiative will see the delivery of $3 billion in assistance to Sudan. The assistance bundle entails $500 million deposit into Sudan’s central bank to strengthen the country’s liquidity and monetary reserves. The remaining amount will be dedicated to support ...

ABU DHABI / WAM The United Arab Emirates has condemned the terrorist bombings that targeted churches and hotels in Colombo, Sri Lanka. In a statement on Sunday, the Ministry of Foreign Affairs and International Cooperation (MoFAIC), said that the UAE affirmed its firm stance against all forms of violence, terrorism and extremism, targeting all without distinction between religion and race. ...

Abu Dhabi / WAM Abu Dhabi General Services Company (Musanada), announced the completion of the ‘Z35 Roads and Infrastructure Project’ at Mohamed bin Zayed City. The project works, valued at AED280.7 million, included the construction of internal roads and infrastructure for residential plots, in collaboration with Abu Dhabi City Municipality (ADM), and abiding by the highest international standards and specifications. ...