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

Bloomberg Ryanair Holding Plc scrapped flights for 100,000 passengers last month as operations at the discount carrier were hit by strikes in five nations together with air traffic control disruption across a swathe of Europe. Ryanair cancelled almost 550 flights in August, compared with 27 a year earlier, the Dublin-based company said. Cockpit crews walked out on August 10 in ...

Bloomberg The retailer of Muji products is considering moving its European headquarters out of the UK because of Brexit, in what would be at least the second such shift by a Japanese company. Ryohin Keikaku Co., which sells everything from furniture to kitchenware under the Muji brand, is weighing Germany as the most likely site for a new European base, ...

Bloomberg Abu Dhabi is exploring a potential merger between three of its banks to create a lender with about $110 billion of assets as the oil-rich emirate moves ahead with the consolidation of state-controlled companies. Abu Dhabi Commercial Bank PJSC (ADCB) and Union National Bank PJSC (UNB), which are both listed locally, are in talks to combine with privately-held Al ...

DUBAI / WAM Etisalat Digital on Monday announced that Massar Solutions, a UAE-based fleet management firm, has signed up for its secure and reliable OneCloud Services. Etisalat OneCloud offers a convenient on-demand subscription to a pool of configurable shared and dedicated multi-tenant computing resources. This end-to-end managed cloud solution includes ‘infrastructure as a service’, managed security services, managed backup, managed ...

ABU DHABI / WAM Moustapha Niasse, President of the National Assembly of Senegal, said that the UAE is a force of good in the world, because of its efforts to promote social and humanitarian causes and help people suffering from disasters and crises, as well as its development initiatives that have created a difference to the international efforts to limit ...

Bloomberg Euro-area manufacturers saw order growth slow to the weakest pace in two years after renewed concerns over trade prospects hit confidence. Purchasing Managers’ Indexes (PMI) from across Europe signal business sentiment is waning, threatening to harm the economy at a time when price pressures are building after years of subdued growth. Momentum is also weakening in China, while output continued ...

Bloomberg Opec crude production rose in August to the highest level this year as a recovery in Libyan output helped to offset a cut in Iranian exports due to US sanctions. The group’s 15 members, which now include the Republic of Congo, collectively produced 32.74 million barrels a day last month, an increase of 420,000 barrels a day from July, ...

Dubai / WAM Dr. Abdullah bin Mohammed Belhaif Al Nuaimi, Minister of Infrastructure Development and Chairman of the Board of Directors of the Sheikh Zayed Housing Programme, on Monday launched the 5th Arab Future Cities Summit 2018 in Dubai. The two-day summit was organised by the Ministry of Infrastructure Development and the Sheikh Zayed Housing Programme, in cooperation with “Expotrade ...

Fujairah / WAM National Bank of Fujairah (NBF), announced the expansion of its NBF Islamic portfolio by launching a suite of savings products based on the Islamic principle of Mudaraba. By doing this, the bank complements the existing Sharia’-compliant Murabaha and Wakala deposits by adding savings accounts, fixed-term and dream deposits. Mudaraba is one of the most credible Islamic products ...

Abu Dhabi / Emirates Business HE Sheikh Nahyan bin Mubarak al Nahyan, Minister of Tolerance, on Monday officially inaugurated CPhI Middle East & Africa 2018, the region’s leading platform for the pharmaceutical industry, followed by a tour of the exhibition. This year’s show is making its regional debut in the UAE, taking place at the Abu Dhabi National Exhibition Centre ...