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

Bloomberg / Emirates Business The US Department of Homeland Security lifted its ban on electronic devices in the cabins of commercial jetliners flying to the US from Abu Dhabi after validating security measures at a new facility inside Abu Dhabi International Airport, according to a statement from Etihad Aviation Group. “The removal of the restrictions allows passengers flying to the ...

Dubai / WAM Emirates expanded its presence in Southeast Asia with the launch of a new daily linked service from Dubai to Phnom Penh (PHN) in Cambodia, via Yangon in Myanmar. The airline says that the new service, operated with a Boeing 777 aircraft, broadens the its network in Southeast Asia to 13 cities in eight countries and offers more ...

Abu Dhabi / WAM More than 10 million passengers passed through Abu Dhabi International Airport (AUH), during the first five months of the year, a 1.8 growth over the same period last year, with the month of May posting a 2.00 percent decline in traffic volume compared to the corresponding period in 2016. According to data released by Abu Dhabi ...

Sharjah / WAM The Ramadan Night’s Exhibition concluded with 78% year-on-year growth rate as it attracted 108,569 visitors compared to 60,915 visitors in 2016. The event was organised by Expo Centre Sharjah in observance of Ramadan and Eid Al Fitr. The 16-day exhibition was held as part of the 28th Sharjah Ramadan Festival, under the support of the Sharjah Chamber ...

Dubai / WAM More than 1,000 researchers, business leaders and public sector officials from 76 countries are attending the “Academy of International Business” Conference commenced on Sunday in Dubai. Themed “The contribution of MNEs to building sustainable societies”, the conference is being held under the patronage of The Mohammed bin Rashid School of Government (MBRSG), a research and teaching institution ...

Bloomberg The chorus in the oil market calling for deeper production cuts gets louder almost every day. By resisting the clamor, OPEC is breaking with its own history. As crude sank below $50 a barrel — less than half the price of two years ago — market-watchers from Goldman Sachs Group Inc. to former OPEC officials said supply curbs imposed ...

Bloomberg Shale explorers reduced the number of rigs drilling for oil in the US this week, snapping a record expansion in a sign the boom may be waning as prices linger near $45 a barrel. Working rigs targeting crude fell by 2, bringing the total to 756, according to Baker Hughes Inc. data reported. The reduction ended 23 straight weeks ...

DUBAI­­­­ / Reuters Iran plans to sign a new contract to develop its giant South Pars gas field with France’s Total and China’s CNPC on Monday, the first major Western energy investment since sanctions against Tehran were lifted, an Iranian oil ministry official told Reuters. Total holds a 50.1 interest in the South Pars project with state-owned China National Petroleum ...

Bloomberg The fire that killed at least 79 people in a residential tower in London earlier this month has delivered a blow to an often overlooked section of the green industry that’s crucial to delivering energy efficiency. Local authorities across the UK are ripping foam insulation from housing blocks after concerns that plastic cladding on the Grenfell Tower acted as ...

Bloomberg India’s Vedanta Ltd. will spend $3 billion over the next three years as it seeks to expand oil reserves and nearly double output from its largest field. India’s biggest non-state producer, controlled by billionaire Anil Agarwal, plans to drill more wells at its Barmer block in the western Indian state of Rajasthan and other blocks in the eastern part ...