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

Bloomberg Australia’s central bank may start raising interest rates from a record low as soon as May, putting the brakes on house-price growth, according to hedge fund manager Brett Gillespie. A drop in the unemployment rate to 5 percent in the second quarter of next year will be the trigger for the Reserve Bank of Australia to start lifting rates, ...

Bloomberg Ukrainian President Petro Poroshenko is set to propose a new central bank governor this week, filling a position that’s been vacant since May as the government struggles to get its $17.5 billion bailout back on track with the International Monetary Fund. Poroshenko will reveal his nomination in the next two days, with parliament to vote on his proposal on ...

Bloomberg Boeing Co. warned that its 737 Max 7 passenger jet may not survive if Bombardier Inc. continues to sell aircraft below fair-market value, as the two planemakers square off in a case that’s putting profits and diplomatic ties on the line. “Our Max 7 is at extreme risk,” Kevin McAllister, the head of Boeing’s commercial airplanes division, told a ...

Bloomberg A sudden power failure at the world’s busiest airport that stranded thousands of passengers and snarled US holiday air traffic underscores the vulnerability of the nation’s grid. The 11-hour outage was caused by a fire in an underground electrical facility that also cut backup supplies to Hartsfield-Jackson Atlanta International Airport, said Southern Co.’s Georgia Power utility. Frustrated passengers were ...

Bloomberg Hershey Co. is near a $1.6 billion deal to buy Amplify Snack Brands Inc., according to CNBC, which cited unidentified sources familiar with the matter. The deal values Amplify at $12 a share, CNBC said, which would represent a 71 percent premium to Friday’s closing price of $7 a share. Amplify, based in Austin, Texas, has a market cap ...

Bloomberg Forget Gucci and Rolex. Grocery stores, hair salons and tutoring centres may have the brightest future for Hong Kong retail as high-end malls get squeezed by forces beyond their control. That’s according to property consultants including Savills Plc, Jones Lang LaSalle Inc. and CBRE Group Inc., who say that community shopping centres targeting local customers are better suited to ...

Dubai / Emirates Business The GCC’s first commercial vertical indoor farm, Badia Farms, has launched in Dubai with ambitious plans to pioneer the future of the region’s agriculture industry. Using the latest hydroponic technology and vertical farming techniques, the farm produces nutritious and pesticide-free leafy greens without the need for sunlight, soil or chemicals. Badia Farms has been established by ...

DUBAI / Emirates business The Hong Kong Trade Development Council (HKTDC) is looking for planning to take the trade relations between the UAE and Hong Kong to the next level with seven global trade fairs to be held in Hong Kong early next year. The UAE is Hong Kong’s 17th largest trading partner and 17th largest import supplier. The total ...

Dubai / Emirates Business Dubai-based developer Omniyat has signed a facility agreement with Ajman Bank for AED 500 million. The financing will be used for the construction of an iconic mixed-use project at Dubai Water Canal in Business Bay. The project is a partnership between Omniyat, Saudi’s Rashed Al Rashed Group and Jenina Real Estate Development Company Ltd. — one ...

ABU DHABI / WAM The first unified electronic platform for unmanned aerial vehicles (UAVs) and air vehicles to be used in the UAE for recreational, ser-vice and commercial purposes has been announced. The platform, entitled “Unified Pilot System for Unmanned Aircraft Products and Systems,” is in line with UAE government’s keenness to provide a civil aviation environment and a safe ...