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

Bloomberg China Southern Airlines Co., one of the nation’s top three state carriers, is exploring a joint venture with British Airways for flights between the Asian country and the UK, according to the company’s global sales director. Asia’s biggest carrier by fleet size is discussing with IAG SA’s BA on how to extend cooperation beyond the existing basic code-share agreement ...

Bloomberg Norwegian Air Shuttle ASA rose the most in three weeks after record revenue and a surprise profit added an unexpected sheen to the low-cost carrier that’s getting takeover interest from competitors. The shares gained as much as 8.2 percent after Norwegian reported record second-quarter revenue of $1.3 billion and net income of 296 million kroner, when analysts expected a ...

Bloomberg As Dunkin’ Brands Group Inc.’s new chief executive officer takes the reins, the tight US labour market has his attention. One solution to the staffing crunch, according to Dave Hoffmann, who assumed the top post at the coffee-and-doughnut chain this week, is for the US to provide more student visas for foreigners participating in work-study programmes. “There may be ...

Bloomberg Ryanair Holdings Plc grounded dozens of flights as pilots in its Irish home market walked out after failing to agree to new contracts as part of a move towards unionisation at the discount giant. As of 6 am local time, Dublin Airport’s website listed as cancelled departures to 16 cities including London, Birmingham and Manchester, England, with a similar ...

ADEN / WAM The Emirates Red Crescent (ERC) has renewed its commitment to fulfil the urgent needs of Yemeni communities, through its support of the country’s Ministry of Social Affairs and Labour. During a meeting with Dr Abtahaj Al-Kamal, Yemeni Minister of Social Affairs and Labour, Saeed Al Kaabi, ERC’s Representative in Aden, reviewed the activities carried out by ERC ...

ABU DHABI / WAM The UAE Cabinet has adopted a decision to implement the value added tax (VAT) refund system for tourists, which will integrate between retail outlets with tax refund points in line with the government’s efforts to achieve the efficient implementation of the tax system in the UAE. According to a press statement, the new tax refund system ...

Dubai / WAM The Commercial Bank of Dubai (CBD) on Wednesday reported its financial results for the first half of 2018. H1 profit was AED 561 million, 68.7% higher on the back of a 1.1% increase in operating income and a 5.6% decline in operating expenses. The impairment allowances meanwhile decreased by 35.5%. Operating income increased by 1.1% to AED ...

Bloomberg China vowed to fight back against the Trump administration’s plans to impose tariffs on an additional $200 billion in Chinese goods, escalating a trade war between the world’s two biggest economies. Beijing described the latest US move as “totally unacceptable” bullying, and urged other countries to join China to protect free trade and multilateralism. China promised to lodge complaints ...

DUBAI / WAM Dubai Future Foundation signed an MoU with EY to support Dubai 10X initiative, one of the Foundation’s initiatives. The collaboration with EY will support government organisations to develop their ide-as, to be evaluated by a specialised committee. This is part of DFF’s strategic plans to support Dubai 10X initiative, which aims to propel Dubai into the future, ...

DUBAI / WAM Dubai Multi Commodities Centre (DMCC), the world’s flagship Free Zone and Government of Dubai Authority on commodities trade and enterprise, signed a Memorandum of Understanding (MoU) with China Council for the Promotion of International Trade (CCPIT), the largest official institution for the promotion of foreign trade in China. Designed to strengthen the commercial collaboration between the Chinese ...