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

Bloomberg Wal-Mart Stores Inc. sold yen bonds for the first time in seven years, taking advantage of falling fundraising costs and Japanese demand for securities issued by well-known US firms. The US retailer offered 170 billion yen ($1.5 billion) of five-year, seven-year and 10-year notes, in its first yen issuance since selling 100 billion yen of debt in July 2010. ...

Abu Dhabi / Emirates Business Etihad Holidays has launched operations in Saudi Arabia, Kuwait, Oman and Bahrain to provide a wide choice of package holiday options to travellers in the four countries. The move follows the successful introduction of Etihad Airways’ holiday division in the UAE, UK, Germany, India and North America. Launched in 2004, Etihad Holidays offers dynamically packaged ...

Bloomberg Chinese aircraft builder Comac won approval from the nation’s aviation regulator to start mass production of its homemade ARJ21 regional jet, paving the way for deliveries to customers. The Civil Aviation Administration of China issued production certificates for the 90-seater Advanced Regional Jet, state-owned Commercial Aircraft Corp. of China Ltd., or Comac, said in a statement, adding it aims ...

Sharjah / Emirates Business Air Arabia, the Middle East and North Africa’s first and largest low-cost carrier (LCC) launched its inaugural flight to Sohar, making it the first international flight to commence operations at the Sohar Airport. The Air Arabia flight will operate three times a week, on Sundays, Mondays and Wednesdays, departing from Sharjah International Airport (SHJ) at 08:00 ...

DUBAI / Reuters Wataniya Airways is to resume flights on Tuesday for the first time since ceasing operations in 2011, according to state news agency KUNA. Wataniya halted operations after three years in business due to its financial situation and political instability in the Middle East. The Kuwaiti airline will restart with a scheduled service on July 11 to Tbilisi, ...

Bloomberg The national carriers of Jordan and Kuwait announced that passengers will once again be allowed to carry personal electronics, including laptops, on board US-bound flights, ending a ban that had been imposed in March. The US had issued the ban over concerns IS extremists and other extremists could hide bombs inside laptops. Royal Jordanian said it had implemented “enhanced ...

Dubai / Emirates Business Musafir.com, the UAE’s first homegrown premium-experience travel website has been recognised as the ‘Best Online Travel Agency’ in the Middle East at the first-ever Arabian Travel Awards held at JW Marriott Hotel Dubai. Musafir.com competed against a number of leading travel service providers in the Middle East to showcase its industry-leading technology, customer service and product ...

DUBAI / WAM Dubai plans to have a new deep-tunnel sewerage system costing around AED30 billion by the year 2025 as part of the emirate’s efforts to accommodate any future growth and meet long-term needs for used water collection, treatment, reclamation and disposal. Dubbed the ‘Development of the Century’, the project should save millions of dirhams worth of maintenance costs ...

Abu Dhabi / WAM Abu Dhabi’s e-Government will participate in the Esri User Conference (Esri UC), the world’s leading geographic information systems, GIS) event, to communicate, exchange experiences and share knowledge on the latest technologies and innovations in the industry. The conference is organised by the Environmental Systems Research Institute Esri, in San Diego, California from June 10 to July ...

Dubai / Emirates Business Emcredit, a subsidiary of Dubai Economy, has forged a strategic alliance with Network International, the leading payment solutions provider in the Middle East and Africa region, to deliver world-class mobile payment solutions in the UAE. Under a Memorandum of Understanding (MoU) signed between the two entities, Network International will provide advanced acquiring functionality for Emcredit’s next ...