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

Bloomberg United Continental Holdings Inc. is considering whether to add an upgraded economy section to US flights—a feature typically reserved for overseas markets. The Chicago-based carrier for months has been readying a new “Premium Plus” section with bigger seats and improved dining options. While the company previously said it would add the class to international routes, it’s now considering it ...

Bloomberg The owner of the Zara clothing chain is facing skepticism among investors that it can keep up with the likes of Amazon.com Inc. in online retail. While Inditex SA’s e-commerce revenue surged 41 percent last fiscal year and its websites are attracting more than 10 million visits a day, total sales grew at the weakest pace in three years ...

Bloomberg Three deadly air crashes that have killed 170 passengers in the past 4 1/2 weeks may indicate that 2017, the safest-ever year for aviation, represented a statistical blip. A total of five fare-paying customers lost their lives in just two crashes on planes of 14 seats or more in the whole of 2017, and there were no passenger fatalities ...

ABU DHABI / WAM The total earnings of commercial and Islamic banks in the Emirate of Abu Dhabi surged to AED30.83 billion in 2017, according to figures released by the Statistics Centre-Abu Dhabi. The total earnings of commercial banks headquartered in the capital reached AED25.53 billion by the end of 2017, accounting for 82.8 percent of the total earnings accrued, ...

ABU DHABI / WAM Khalifa Fund for Enterprise Development (KFED) hosted a forum on ‘Strategic Alignments – Connections 2018’ to promote domestic Small and Medium-sized Enterprises (SMEs) and support their growth, and implement innovative plans to help foster an entrepreneurial spirit in the country. The forum brought together top-level officials from federal and local entities within the legislation and banking ...

ABU DHABI / WAM The United Arab Emirates and the Republic of Sudan enjoy long-standing ties of cooperation and strategic bilateral relations, built on joint coordination and economic and development partnerships, that have contributed to the progress and prosperity of Sudan. Thanks to the leadership of President His Highness Sheikh Khalifa bin Zayed Al Nahyan and the directives of His ...

ABU DHABI / WAM The Federal Tax Authority (FTA) has asserted that all businesses subject to Value Added Tax (VAT) and Excise Tax must display prices of goods and services inclusive of tax in order to avoid administrative penalties. The authority called on consumers and service recipients in the UAE to be aware of their rights, noting that prices displayed ...

DUBAI / Reuters Saudi Arabia is increasingly looking to just float oil giant Saudi Aramco locally as plans for an initial public offering (IPO) on an international exchange such as London or New York hang in the balance, sources close to the process said. The kingdom is counting on being awarded emerging market status by index complier MSCI in June ...

ABU DHABI / WAM National Central Cooling Company (Tabreed) announced the acquisition from Aldar Properties (Aldar) of 50% of the shares in S&T Cool District Cooling Company (S&T), a major district cooling provider on Reem Island in Abu Dhabi. Tabreed will own 100% of the company following completion of the transaction, subject to relevant regulatory approvals. S&T’s district cooling plant ...

Amman / WAM King Abdullah II of Jordan has received HH Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, as part of his visit to Jordan, in the presence of Ayman Al Safadi, Jordanian Minister of Foreign Affairs and Expatriates. Sheikh Abdullah conveyed the greetings of President His Highness Sheikh Khalifa bin Zayed Al Nahyan, ...