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

Bloomberg Boeing Co. is weighing a potential combination with Embraer SA of Brazil, setting the stage for a blockbuster deal that would fuel the US aerospace giant’s rivalry with Airbus SE in the highly competitive market for smaller jets. The planemakers have been exploring a takeover for more than a year, with senior-level talks that gained urgency in recent months ...

Bloomberg Freight hauler XPO Logistics Inc. jumped the most two years after Recode reported that Home Depot Inc. is weighing a possible acquisition as part of a push to compete with Amazon.com Inc. The home-improvement retail giant has held internal discussions in recent months about making a bid, according to the report, which cited an unnamed person familiar with Home ...

Bloomberg Phoebe Philo, the widely praised creative director of LVMH’s Celine label, is leaving her position in January, the company said. LVMH didn’t announce a successor in its emailed statement. Philo’s departure was well-telegraphed, with the trade publication Business of Fashion reporting in October that the luxury conglomerate was interviewing potential replacements. Still, the move is significant for Celine, which ...

Bloomberg Nike Inc. shares fell the most in nine months after its North American sales slump worsened, overshadowing strong growth in other regions. The world’s largest sports brand posted quarterly sales that fell short of estimates in its home market, while beating them in Greater China and Europe, the Middle East and Africa. The results show that Nike still faces ...

Dubai / Emirates Business The combined value of the 1,424 active transport projects in the GCC has exceeded $392.2 billion (AED1.4 trillion) at the end of 2017, according to latest GCC Construction Analytics report issued by BNC Network, the larg-est and most comprehensive project research and intelligence provider in the Middle East and North Africa (MENA) region. Of these, 139 ...

Abu Dhabi / WAM The UAE has been ranked the world’s largest donor of official development aid, relative to its national income, according to a data published on Saturday by the Organisation for Economic Co-operation and Development (OECD). The official development aid provided by the UAE in the year 2016 reached AED15.57 billion, making up 1.21 percent of the country’s ...

Sharjah / WAM The Hamriyah Free Zone Authority (HFZA), signed a strategic partnership agreement with Gulf Publishing Company (GPC), the world’s largest independent media company devoted exclusively to the global energy industry for more than 100 years with a readership of over 100,000. World Oil, Hydrocarbon Processing, Pipeline & Gas Journal, Petroleum Economist and Gas Processing are the major publications ...

Dubai / WAM Etihad Energy Services Company (Etihad ESCO), a wholly-owned subsidiary of the Dubai Electricity and Water Authority (DEWA), signed a service agreement with ENOC Group to retrofit ENOC service stations with improved air conditioning and lighting with automation and install solar photovoltaic (PV), systems. The agreement was signed by Saeed Mohammed Al Tayer, Chairman of Etihad ESCO and MD ...

Dubai / WAM HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Chairman of Dubai Executive Council, and Chairman of the Board of Trustees of the Dubai Future Foundation (DFF), said that Dubai is not only taking the lead in shaping the future, but its accomplishments in this domain are also enabling it to export its ...

Dubai / WAM Mattar Al Tayer, Director-General and Chairman of the Board of Executive Directors of Roads and Transport Authority (RTA), has launched the trial run of the first electric hydrogen fuel-cell electric vehicle, Toyota Mirai, as part of the Dubai Taxi fleet, in collaboration with Al Futtaim Motors. The hydrogen fuel-cell vehicle has only water emissions. It is noiseless ...