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

Bloomberg Credit Suisse Group AG’s turnaround is running out of steam just as the bank enters the final stretch of its overhaul. Revenue and net income missed estimates in the third quarter, and the Global Markets business — one of the most difficult challenges of Chief Executive Officer Tidjane Thiam’s three-year tenure — posted an unexpected loss. The bank is ...

Bloomberg Italy’s Alitalia SpA attracted bids from European discounter EasyJet Plc and US giant Delta Air Lines Inc., as the government renews attempts to sell the bankrupt flag-carrier. UK-based EasyJet said in a statement that it submitted a revised expression of interest in Alitalia, while Delta also presented a proposal. Italian state railway company Ferrovie dello Stato said it also ...

Bloomberg Coty Inc. wants to get closer to valuable Chinese consumers of cosmetics, hair care and fragrances, and will do so through a partnership with Alibaba Group Holding Ltd. The beauty company and online giant are teaming up on interactive vending machines in malls of major Chinese cities, as well as on initiatives with beauty and hair salons, and lets ...

Bloomberg Southwest Airlines Co. is giving up on charging for in-flight movies, bowing to feedback from passengers accustomed to not paying on rival carriers. Free flicks will be available on some Wi-Fi-enabled jets and will be rolled out to most customers by the end of the week, Southwest said in a statement. That makes the Dallas-based discounter the last of ...

Bloomberg An economic development director at Amazon.com Inc. isn’t happy about a Washington Post report that the e-commerce giant is in advanced talks with a Washington suburb about being the location for its second headquarters. In a recent tweet, Amazon’s Mike Grella addressed “the genius leaking info,” saying: “You’re not doing Crystal City, VA any favours. And stop treating the ...

Bloomberg Britain is urging the European Union to support a global carbon market for emissions from airlines, a move that would probably supersede the bloc’s own trading program. Aviation is too big of an industry to be covered piecemeal by regional pollution rules, according to Liz Sugg, the UK’s aviation minister. Flights within the union are covered by the EU’s ...

ABU DHABI / WAM The results of macroeconomic and sectoral indexes reflect a positive economic performance in Abu Dhabi, particularly at the level of non-oil activities, during Q2 of 2018, confirming rising levels of investor confidence and business optimism about the emirate’s economic outlook. This is revealed by Q2 economic follow-up report of results of the emirate’s macroeconomic and sectoral ...

ABU DHABI / WAM As part of its continuing commitment to efficiency and the adoption of cutting-edge technologies in its growing network of service stations, Adnoc Distribution, the UAE’s largest fuel and convenience retailer, has signed an agreement with Japan Cooperation Centre Petroleum (JCCP) to supply, install and pilot the use of a photovoltaic (PV) solar power system at one ...

ABU DHABI / WAM The UAE will on November 4, launch the Unified Customs Strategy, announced Ali Al Kaabi, Customs Commissioner and Head of the Federal Customs Authority. Al Kaabi said the strategy aims to support country’s security and customs systems, maintain community security and stability and improve UAE’s rankings in internatio-nal competitiveness indices. He stated the strategy will standardise ...

DUSHANBE / WAM UAE Ambassador to Kazakhstan and Non-resident Ambassador to Tajikstan, Dr Mohamed Ahmed bin Sultan Al Jaber, met Tajik Minister of Agriculture Izatullo Sattori, to explore prospects for joint cooperation in agriculture and food security. The Tajik minister welcomed UAE investment in these areas, expressing his government’s readiness to pr-ovide every possible assistance and facilities in this regard.