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

Bloomberg Philippine Airlines Inc’s largest shareholder jumped the most in more than five years after the Nikkei reported ANA Holdings Inc is considering investing in the Southeast Asian carrier. ANA, Japan’s biggest airline, is considering purchasing 10 percent of Philippine Airlines for 10 billion yen ($91 million), the Nikkei reported. PAL Holdings Inc, which owns most of Philippine Airlines, closed ...

Bloomberg Spirit Airlines Inc is targeting a decision by the middle of the year on its next order of single-aisle jets as the carrier prepares its expansion plans over the next five years. The heavy discounter is talking to each of the major manufacturers, Airbus SE, Boeing Co and Embraer SA, Chief Financial Officer Scott Haralson said on the sidelines ...

Bloomberg Lowe’s Cos, looking to gain an edge on Home Depot Inc, is teaming up with the National Football League (NFL) in a sponsorship deal that kicks off in its competitor’s hometown. The chain is now the league’s official home-improvement retail sponsor, capitalising on the run-up to next month’s Super Bowl in Atlanta. Lowe’s will place billboards along the city’s ...

Bloomberg Patek Philippe, the closely held maker of $10,000-plus Calatrava watches, may be coming up for sale, according to analysts at Berenberg who cited industry talk. The 180-year-old Swiss watchmaker could fetch 7 billion to 9 billion euros ($8 billion to $10 billion), analysts led by Zuzanna Pusz wrote in a note. Patek Philippe has been owned by the Stern ...

Bloomberg Flights at Newark Liberty International Airport were briefly halted after a drone was spotted flying nearby in an episode reminiscent of the ones that disrupted traffic at London’s major facilities in recent months. The device was spotted over nearby Teterboro Airport north of Newark at an altitude of 3,500 feet, Federal Aviation Administration (FAA) spokesman Greg Martin said. The ...

ABU DHABI / WAM The Abu Dhabi National Oil Company (Adnoc) has been named the most valuable brand in the Middle East, by Brand Finance, the world’s leading brand valuation and strategy consultancy. Adnoc is the first regional oil and gas company to be featured in the annual Brand Finance Global 500 report with a brand valuation of $8.9 billion ...

ABU DHABI / WAM In yet a new sign of the resilient financial fundamentals enjoyed by the UAE banking system, the combined profits of four UAE-based banks listed on Dubai Financial Market (DFM) reached AED13.2 billion in 2018, a growth of 17.5 percent on year. According to statistics released by the Central Bank of the United Arab Emirates, the total ...

ABU DHABI / WAM Etisalat on Tuesday received the ‘most valuable portfolio brand’ in Middle East and North Africa (Mena), by Brand Finance as a recognition for the company’s impressive portfolio of brands becoming the first Middle East group to break the $10 billion barrier in terms of wider portfolio value. Etisalat boasts of a portfolio of brands such as ...

Abu Dhabi / WAM Senior industry figures from China and the UAE celebrated the groundbreaking of the Roadbot Tyre Project Kizad (Roadbot) on Tuesday, marking the development of the first tyre manufacturing plant in the UAE and the growth of downstream industry in Kizad, Abu Dhabi’s industrial hub and part of Abu Dhabi Ports. Developed by Chinese tyre manufacturer Roadbot ...

ABU DHABI / WAM The Department of Culture and Tourism – Abu Dhabi, DCT Abu Dhabi, will organise a stand for the Abu Dhabi International Book Fair (ADIBF), at the upcoming Cairo International Book Fair, which is returning for its 50th edition from January 23 to February 5. This will be the first time both DCT Abu Dhabi and ADIBF ...