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

Bloomberg Costco Wholesale Corp. may be a latecomer to e-commerce, but consumers love it even more than Amazon.com Inc., according to a customer satisfaction survey released. The warehouse shopping club scored 83 on the annual American Customer Satisfaction Index, edging out Amazon’s score of 82. Amazon had topped the category since 2010, but its score slipped four points compared with ...

Bloomberg Farfetch Ltd. shares advanced for a third straight session and hit their highest levels of the year following an e-commerce pact with London-based luxury department store Harrods that may lead to more business from elite retailers. The stock gained as much as 9.4 percent and traded at its highest level since mid-December. Shares of the online retail apparel company ...

Bloomberg Air France-KLM Group fell the most ever after the Dutch government’s surprise decision to buy a stake in the airline raised concern that competing national interests will derail Chief Executive Officer Ben Smith’s efforts to streamline the carrier. The Netherlands purchased a 13 percent holding, a move aimed at gaining parity with influential shareholder France following a power clash ...

SEOUL / WAM During an official visit to the Republic of Korea by His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, the Abu Dhabi National Oil Company (Adnoc) has signed three framework agreements with Korean energy companies. The agreements will explore upstream exploration and production opportunities, ...

ABU DHABI / WAM Mubadala Petroleum has announced that it signed the Production Sharing Contract (PSC) together with its partner PTTEP Energy Development Company Limited (PTTEP ED), a subsidiary of PTT Exploration and Production Public Company Limited, for offshore Block G1/61 containing the Erawan producing gas field in Thailand. The current Block G1/61 concession will expire in April 2022 and ...

BELGRADE / WAM President Aleksandar Vucic of Serbia has opened the textile factory ‘Armis Luss Protect’ textile factory in the Raska District. The factory was funded by the Khalifa bin Zayed Al Nahyan Foundation. The opening ceremony was attended by the UAE Ambassador to Serbia Mubarak Saeed Ahmed Barasheed Al Dhaheri. The Serbian President thanked the UAE and the Khalifa ...

ABU DHABI / Emirates Business Emirates Steel, the only integrated steel plant in the UAE, and a subsidiary of the General Holding Corporation (Senaat), announced an outstanding set of financial results for 2018. Emirates Steel achieved AED 7.5 billion in revenue in 2018, an increase of 15% as compared to AED 6.6 billion in 2017. In addition, Emirates Steel delivered ...

ABU DHABI / WAM Construction works have begun on the UAE pavilion at Expo 2019 Beijing Horticulture announced the National Media Council (NMC), on Tuesday. Taking place from April 29 to October 7, the expo will be held under the theme ‘Live Green, Live Better’ with more than 110 countries and international organisations participating. The NMC is set to shed ...

Bloomberg The masked motorcyclists roared into the border town, shooting pistols in the air. They sent terrified demonstrators racing to cower in doorways or tremble in the homes of strangers. They formed roadblocks to shake down dissidents, and late into the night they prowled debris-strewn streets in deafening patrols. In San Antonio del Tachira, Venezuela, colectivos — gangs loyal to ...

Bloomberg The slapdash nature of Donald Trump’s second summit with Kim Jong Un was exposed on Tuesday, as American journalists were abruptly evicted from a Hanoi hotel housing the North Korean leader and key details of the meeting remained a mystery. The White House has set low ambitions for Thursday’s talks, organized in a matter of weeks after Trump announced ...