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

Bloomberg Saab AB, maker of the Gripen warplane, said it’s interested in joining a UK-led project to develop a cutting-edge combat aircraft that would be a mainstay of defense programs in two decades time. While Saab is also evaluating a rival Franco-German fighter plan, the Tempest programme funded by Britain’s Ministry of Defence and including BAE Systems Plc and Rolls-Royce ...

Bloomberg Airbus SE managed to stave off a devastating blow to its struggling A330neo widebody program from chief rival Boeing Co., securing a commitment for 34 more planes from the aircraft’s biggest customer, AirAsia Group Bhd. While the $10 billion order from the Malaysian airline’s long-haul arm ranks among the larger deals announced at the Farnborough air show this week, ...

Bloomberg Sports Direct International Plc investors have been left counting the cost of billionaire founder Mike Ashley’s wheeling and dealing. The UK sportswear retailer reported a 73 percent decline in full-year pretax profit. The drop was mainly due to a one-time charge of 85.4 million pounds ($111 million) related to its investment in struggling department store chain Debenhams Plc. Sports ...

Bloomberg Bombardier Inc. said Uganda Airlines signed a firm order for four new CRJ900 jets as the East African nation seeks to resuscitate its moribund carrier after two decades. The country also signed a memorandum of understanding for two A330neo, Airbus SE said in a statement on its website, without providing cost details. “Based on the list price for the ...

ABU DHABI / WAM The UAE and China have agreed to enhance cooperation in all fields to higher levels and forge overall strategic partnerships, which would contribute to cementing and intensifying cooperation, boost joint development and prosperity, which is consistent with the common interest of both countries and their peoples. The two countries in a joint statement issued on the ...

HODEIDAH / WAM Since June 20, the UAE has provided 18,943 food baskets in addition to 432 boxes of mineral water to protect public health and prevent any diseases caused by non-potable water distributed to 27 districts and areas in Hodeidah. A total of 132,601 Yemenis benefitted from the assistance including, 94,715 children and up to 19,000 women. This has ...

Dubai / Emirates Business Small businesses in the UAE continue to show resilience amidst challenging economic times, underscores the two-year compounded growth rate of 100% reported by the finalists of the 2018 Gulf Capital SME Awards. A total of 97 finalists have been shortlisted this year, with 11% increase in entries compared to 2017, highlighting another banner edition of MEED’s ...

Dubai / WAM The Dubai Roads and Transport Authority (RTA), has launched the third and final phase of vehicle e-registration, enabling individuals to replace their existing vehicle registration cards with lifetime e-registration, as of August 1, this year. The RTA launched the initial phase of the service last January for government vehicles, car rental companies, and taxis. Phase II kicked off ...

Dubai / WAM The Department of Economic Development – Ajman (DED-Ajman) and the emirate’s Department of Land and Real Estate Regulation announced the signing of a new partnership agreement aimed at adopting and implementing new e-link services. The services, which are part of the ongoing ‘Single Window Project,’ will provide customers with a faster and more efficient way to apply ...

Abu Dhabi / WAM The Abu Dhabi Investment Office on Saturday announced the signing of a Memorandum of Understanding (MoU), with the Office of the Chinese Business Council, at a meeting attended by Saif Mohamed Al Hajeri, Chairman of the Abu Dhabi Department of Economic Development. The agreement provides for both parties to strengthen their inter-institutional cooperation and exchanges and ...