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

Bloomberg The sandy shores of the Philippines will soon be within easier reach of Chinese tourists looking for a summer vacation spot. Philippine Airlines Inc. plans to begin flights this year to secondary cities in China, which may include Nanning, Haikou, Hangzhou and Chengdu, where tourists rent planes to go to the island resorts of Boracay, Palawan and Cebu, President ...

Bloomberg Former Toys ‘R’ Us workers will be asking a judge to award them severance and grant them the same priority for getting paid as the lawyers, financial advisers and suppliers who were considered vital to winding down the retailer’s US stores. Toys ‘R’ Us Inc. agreed to give the workers until July 23 to file the request, according to ...

Abu Dhabi / WAM Noura bint Mohammed Al Kaabi, Minister of Culture and Knowledge Development, laun-ched ‘UAE-China Week,’ which is being held in Manarat Al Saadiyat from Tuesday until July 24. The event coincides with the visit of Xi Jinping, President of China, to the UAE, on Thursday, and celebrates the best of Emirati and Chinese culture. In a statement ...

Bloomberg Kuwait Finance House KSCP wants to hold renewed talks with Bahrain’s Ahli United Bank BSC about a takeover, a potential boost to the island kingdom as it seeks financial support from neighbours. Shares in Ahli United Bank, or AUB, rose 6.8 percent on Tuesday to the highest levels since April last year, valuing the Manama, Bahrain-based lender at $5.66 ...

Bloomberg A unit of Abu Dhabi Financial Group has made a fresh, $55 million offer for the rights to manage Abraaj Group’s funds, challenging a bid from Cerberus Capital Management LP, according to people familiar with the matter. Abu Dhabi Capital Management told Abraaj’s liquidators it would pay $30 million to buy the rights to manage Abraaj’s funds and $25 ...

Bloomberg Oil steadied after another sharp pullback as traders remained wary over whether supplies will be sufficient to cover a range of global disruptions. Futures in New York traded near $68 a barrel, having tumbled 4.2 percent as Libya restored output at some fields and the US signalled it may take a slightly softer approach with sanctions on Iranian exports. ...

DUBAI / WAM Dubai Land Department (DLD) announced that the real estate brokerage commissions reac-hed AED571 million during the first half of 2018, with a total of 5,181 active brokers, representing 2,113 offices, contributing to the sustainable growth achieved by the sector. The Department of Real Estate Studies and Research of the DLD also reported that the activities of the ...

DUBAI / WAM DMCC, the world’s flagship Free Zone and Government of Dubai Authority on commodities trade and enterprise, has signed an MoU with the Royal Fund Investments (RF) to cement strong bilateral trade relations with Chinese business community. The MoU commits both parties to connect and provide attractive business solutions for Chinese corporates looking to set up in Dubai ...

Emirates Business Etihad Airways, the national airline of the United Arab Emirates, launched a WhatsApp Business solution, allowing guests to communicate instantly with the airline via the popular messaging app. The new service, which is the latest element of Etihad Airways’ digital strategy, will provide an enhanced offering to premium guests when they are at Abu Dhabi International Airport, allowing ...

DUBAI / WAM The Dubai Business Women Council (DBWC) discussed ways to enhance economic relations between business women of Dubai and Serbia, and enact joint economic and trade partnerships. This came during a recent meeting between Dr. Raja Al Gurg, President of the Dubai Business Women Council; and Stanimir Vukicevic, Ambassador of Serbia to the UAE, in the presence of ...