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

The Treasury Department is apparently looking into using its regulatory power to change the way taxes on capital gains are assessed. The idea is to confine the taxes to real, inflation-adjusted gains, not nominal gains, as now. There’s a particle of sense in this notion, but it’s buried miles deep in bad faith and bad economics. The change would amount ...

Apple Inc has been a profit geyser well before it was valued at the $1 trillion milestone the company reached . Even Warren Buffett is impressed. “It is an unbelievable company,” the legendary investor and Apple stockholder said in May as he marveled that Apple earns almost twice as much as the second-most profitable company in the US. Buffett is ...

Almost three decades ago, the Texan oilman T. Boone Pickens attempted to charge into a Japanese boardroom. He had accumulated around one-third of the company – worth almost $1 billion at the time – yet a seat at the table eluded him. There was nothing to force the directors to accept him. Japan Inc has come a long way since ...

Tesla Inc announced its second-quarter results. Those results, along with Elon Musk’s apologies to analysts for his rudeness three months earlier, pushed its stock price up and 2025 bond yields down. During the earnings call, Musk and his colleagues said “improve” or “improvements” 14 times in describing everything from Tesla’s production lines to its in-car computing to its gross margins. ...

Bloomberg British Airways owner IAG SA’s peak summer season is being spoiled by a combination of air traffic control strikes, exchange-rate swings and a dip in fares on key US routes. IAG shares fell the most in five months on August 3 after walkouts by French controllers pushed its Vueling arm to a wider second-quarter loss following a spate of ...

Bloomberg A second-hand Airbus SE superjumbo will fly for Norwegian Air Shuttle ASA later this month, giving a model once seen as the epitome of luxury a first taste of discount travel. The A380 has been drafted in to operate between London Gatwick airport and New York’s John F. Kennedy hub after the grounding of some of Norwegian’s own Boeing ...

Bloomberg Kellogg Co.’s home market remains a challenge. The company posted second-quarter sales and profit that topped analysts’ estimates and raised its revenue forecast for the year. But struggles to ignite growth in its US cereal and snacks businesses damped investor enthusiasm. The shares fell as much as percent 3.8 percent to $66.79, the biggest intraday decline in three months. ...

Bloomberg Synchrony Financial lost out to Capital One Financial Corp. for a credit-card contract with retail giant Walmart Inc. Now, the company is poised to defend its turf for a Walmart subsidiary. Capital One is interested in examining the Sam’s Club portfolio currently held by Synchrony, according to people familiar with the situation, who asked not to be identified because ...

ABU DHABI / WAM The UAE, which provides comfort to its citizens and tourists alike and has prioritised its heritage and preserved its history for the modern world, has become a leading international tourism destination, where authenticity is combined with modernity and development, through its rapid urban development that is the fastest in the Middle East and around the world. ...

Abu Dhabi / WAM Abu Dhabi National Insurance Company (Adnic), announced its financial results for the first half of 2018 on Wednesday. Adnic reported a net profit of AED150.5 million for the period, up 17.1 percent year-on-year. Commenting on the results, Sheikh Mohamed bin Saif Al Nahyan, Chairman of Adnic, said, “On behalf of the Board of Directors, I am ...