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

Bloomberg Whitbread Plc is betting that its faster-growing Costa Coffee chain will compete more effectively against the likes of Starbucks Corp. once separated from the company’s hotel business. Costa will be spun off from Premier Inn within 24 months, the Dunstable, England-based company said. The planned split follows mounting pressure from activist investors who said the two businesses sit uneasily ...

ABU DHABI / WAM The Committee for Goods and Materials Subject to Import and Export Control started a three-day meeting yesterday with a delegation from the government of the Democratic Republic of Congo (DR Congo), to discuss the means of strengthening their cooperation in regulating the gold trade, according to the best international practices. The meeting was headed by Talal ...

ABU DHABI / WAM UAE’s space programs, including the planned launch of the first Arab probe to Mars by 2021, known as Emirates Mars Mission, are beacons of hope for Arabs to blaze a trail and achieve distinction in this domain, according to Dr Farouk El-Baz, Director of the Centre for Remote Sensing at Boston University, and Member of the ...

ABU DHABI / WAM Masdar and the Costa Rican Electricity Institute (Instituto Costarricense de Electricidad, or ICE) have announced a collaboration to promote renewable energy development. Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar, and Eugenia Gutierrez, Member of the Board and Director of ICE, signed a Memorandum of Understanding to share technical knowledge and project experience. The agreement ...

ABU DHABI / WAM Mubadala Investment Company and Mubadala Infrastructure Partners (MIP) agreed to sell their combined equity interest of 50 percent in Abu Dhabi Terminals (ADT) to the remaining shareholder, Abu Dhabi Ports, for an undisclosed amount. ADT is the first commercial port operator in the Emirate of Abu Dhabi. Its core business is to operate and manage a ...

ABU DHABI / WAM Shuaa Capital has announced the completion of its acquisition of Integrated Securities (IS) and Integrated Capital (IC), following final approval by the Emirates Securities and Commodities Authority and the UAE Central Bank. Shuaa’s current multi-pronged business strategy — which came into effect in early 2017 — helped it return to a path of sustained long-term profitability, ...

ABU DHABI / WAM The UAE Central Bank announced that the money supply aggregate M1 rose 0.2 percent, from AED509.7 billion at the end of February 2018 to AED510.6 billion at the end of March 2018. In a statement, the bank said, “The money supply aggregate M2 increased by 0.7 percent, from AED1284.9 billion at the end of February 2018 ...

Bloomberg Major US equity indexes followed European and Asian stocks higher as the corporate earnings season gathers pace. Benchmark 10-year Treasury yields pierced the 3 percent level for the first time since 2014, while the dollar retreated from the highest level since January. Corporate earnings remained in focus with 180 S&P 500 firms reporting this week. Alphabet Inc. slipped as ...

Bloomberg The world’s biggest cryptocurrencies rose again on Tuesday, extending their April rally deep into its fourth week and taking this month’s increase to more than 75 percent. Ethereum, Bitcoin Cash and EOS helped lead the advance, prices compiled by Bloomberg and Coinmarketcap.com show. Market leader Bitcoin climbed 4.4 percent; its trading volume in the 10 biggest exchanges has topped ...

Bloomberg London Stock Exchange Group Plc’s directors should be prepared to confront “behavioural and performance issues” among management, according to a review that absolved its board of blame in the acrimonious departure of former CEO Xavier Rolet. Rolet abruptly left LSE in November amid a battle between the 217-year-old bourse’s board and activist investor TCI Fund Management, which wanted Rolet’s ...