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

Bloomberg Jet Airways India Ltd. was once at the forefront of India’s rapidly growing market for air travel, but a challenge from budget carriers and surging fuel prices are backing the airline into a corner. Shares of the carrier, part-owned by Etihad Airways PJSC, plunged 8.5 percent in Mumbai after the company postponed announcing its first-quarter earnings. That’s less than ...

Bloomberg Ryanair Holdings Plc’s worsening spat with pilots and cabin crew has created confusion among panicked customers as they race to salvage travel plans disrupted by strikes. Travellers holding tickets from affected airports told of an online race to find alternative journeys with the Irish airline or switch to rival carriers, only to see prices spiralling higher as hundreds of ...

Bloomberg The Chinese Communist Party is probing the chairman of the Shanghai Airport Authority for alleged corruption as President Xi Jinping continues his more than five-year-old crackdown on graft. Wu Jianrong, 56, has come under under suspicion of violating party rules and state laws, according to a statement posted on the website of the party’s disciplinary watchdog in Shanghai that ...

Bloomberg UK billionaire Mike Ashley swooped in to rescue the House of Fraser Ltd. department-store chain for 90 million pounds ($115 million), staving off collapse for an anchor of the country’s troubled shopping districts. Ashley’s Sports Direct International Plc agreed to acquire the 169-year-old retailer’s UK stores, brand name and inventory. The move came after House of Fraser, which employs ...

ABU DHABI / WAM The UAE has been ranked as the largest donor of emergency humanitarian assistance to Yemen in the world for 2018. According to the Financial Tracking Service (FTS), a centralised source of information on humanitarian funding flows, the UAE is also the second-largest source supporting the 2018 Yemen Humanitarian Response Plan (YHRP) following the Kingdom of Saudi ...

KHARTOUM / WAM Hamad Mohammed Humaid Al Junaibi, UAE Ambassador to Sudan, and Mohammed Ahmed Ali Ibrahim, Sudanese Minister of Minerals, have discussed issues of mutual interest and investment opportunities in the mining sector. In a meeting held at the ministry’s premises in Khartoum, the Sudanese Minister lauded the excellent bilateral relations, welcoming UAE investments in all fields especially in ...

DUBAI / WAM Millions of visitors to Expo 2020 Dubai, including global leaders, will enjoy world class hospitality after organisers unveiled Dubai-based Emaar Hospitality Group, the hospitality and leisure subsidiary of global developer Emaar Properties, as its newest official partner. As the Official Hotel and Hospitality Partner, Emaar Hospitality Group will be responsible for providing exceptional service to Expo2020’s special ...

Bloomberg Oil slid in New York, reversing two gains of days, as concerns over escalating trade tensions between China and the US overshadowed signs of tighter supply. Futures dropped 1.5 percent. American crude inventories as well as those in the key hub of Cushing, Oklahoma, slipped last week, the American Petroleum Institute was said to report. China’s Ministry of Finance ...

WARSAW / WAM Dr Youssef Issa Hassan Al Sabri, UAE Ambassador to Poland, has discussed with Jerzy Kwiecinski, Minister of Investment and Economic Development of Poland, the distinguished bilateral relations and ways of enhancing cooperation in the economic, trade and investment sectors. This came in line with the embassy plan to boost relations between the UAE and Poland in all ...

DUBAI / WAM The Real Estate Regulatory Agency (RERA) at Dubai Land Department, signed a partnership agreement with Commercial Bank of Dubai (CBD) focusing on offering escrow account management services to Owners’ Association communities in Dubai. The agreement was signed by Marwan Ahmad bin Ghalita, Chief Executive Officer of RERA, and Dr Bernd van Linder, Chief Executive Officer of Commercial ...