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

Bloomberg A freak bout of electrical storms over Germany is to blame for the worst monthly punctuality record at Deutsche Lufthansa AG in at least two years, according to the company. The country suffered more lightning strikes in the first five months than in the whole of 2017, with planes hit by an average of three bolts a week, according ...

Bloomberg London’s Gatwick airport plans to spend 1.11 billion pounds ($1.5 billion) on expanding the capacity of its two terminals by 7 million passengers within five years. The world’s busiest single-runway hub will devote much of the cash to lengthening one of the piers at its North Terminal, used by airlines including EasyJet Plc and Virgin Atlantic Airways Ltd., to ...

Bloomberg Amazon.com Inc. has long used robots to help humans move merchandise around its warehouses. Now automation is transforming Amazon’s white-collar workforce, too. The people who command six-figure salaries to negotiate multimillion-dollar deals with major brands are being replaced by software that predicts what shoppers want and how much to charge for it. Machines are beating people at the critical ...

Dubai / WAM Investment Corporation of Dubai (ICD) has announced its consolidated financial results for year ended December 31, 2017, delivering record revenues of AED 200.9 billion and an improved net profit of AED24.6 billion. Revenues increased to AED200.9 billion, an increase of 13.8 percent from the prior year period, supported by higher revenues in the oil and gas and ...

HODEIDAH / WAM Arab Coalition Forces have destroyed a ballistic missile base belonging to Iranian-backed Houthi militias on the outskirts of the Al-Garahi district. Coalition forcers led by Saudi Arabia, and supported by UAE Armed Forces, targeted several positions and military machinery belonging to the Houthi militias, resulting in killing 47 militia elements and dozens of casualties. Yemeni resistance forces ...

ABU DHABI / Emirates Business A statement of cooperation has been signed by the CEO of Astana Financial Services Authority (AFSA) Stephen Glynn and Chief Executive of the Registration Authority of Abu Dhabi Global Market (ADGM) Dhaher Bin Dhaher Al Mheiri. The objective of the statement of cooperation is to work towards the attainment of the mutual understanding of legislative, ...

SHARJAH / WAM The University of Sharjah (UoS), and the National Petroleum Construction Company (NPCC) have signed a Memorandum of Understanding that aims to support and provide work, training, and professional development opportunities for the UAE national students. Hamid MK Al Naimiy, Chancellor of the University, str-essed that, due to the support and guidance of HH Dr Sheikh Sultan bin ...

DUBAI / Emirates Business The Middle East hospitality market witnessed a steady growth in occupancy during the first quarter of 2018, according to the latest EY Middle East Hotel Benchmark Survey Report. Except for Jeddah, Beirut, hotel occupancy across the Mena region saw an increase when compared to the first quarter of 2017. This increase was primarily due to a ...

MAKKAH / WAM President Abdrabbuh Mansour Hadi of Yemen received His Highness Sheikh Abdullah bin Zayed Al Nahyan, UAE Minister of Foreign Affairs and International Cooperation, to take a stock of the latest developments in Yemen, ongoing efforts to restore stability to all Yemeni territories and the delivery of humanitarian and relief assistance to the fraternal Yemeni people. His Highness ...

Sharjah / WAM Sharjah Media Corporation (SMC) has donated AED3 million to The Big Heart Foundation (TBHF) – a Sharjah-based humanitarian charity dedicated to helping refugees and people in need worldwide – to build a hospital in the Cox’s Bazar district of Bangladesh for Rohingya refugees. Within the first year, the hospital is expected to receive 7,200 inpatients and provide ...