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

Bloomberg Wizz Air Holdings Plc plans to step up its expansion in Eastern Europe as slower capacity growth at local flag-carriers stung by higher fuel costs encourages a recovery in ticket prices. Budapest-based Wizz will add 6.6 million seats in the year that began April 1, lifting its capacity to about 33 million passengers. The increment represents about half of ...

Bloomberg Never mind voters or airport executives. The constituency Canada needs to get on board for any privatization of the country’s airports is its bondholders. Investors who hold debt in the country’s biggest airports are protected by rules and contracts that would likely require the government to get their consent — and offer compensation — before it could change the ...

Bloomberg Apple Inc. got an early start in artificial intelligence software with the 2011 introduction of Siri, a tool that lets users operate their smartphones with voice commands. Now the electronics giant is bringing artificial intelligence to chips. Apple is working on a processor devoted specifically to AI-related tasks, according to a person familiar with the matter. The chip, known ...

Dubai / Emirates Business After having recently showcased its flagship LG SIGNATURE OLED TV W at LG InnoFest – the company’s annual marketing conference, LG Electronics (LG) has announced the ultra-premium TV’s rollout in the UAE. LG’s highly anticipated and most innovative Picture-on-Wall design TV enjoys an unrivalled razor-thin profile with less than 3mm of thickness when mounted on the ...

Bloomberg Guess who’s jumping on the bitcoin bandwagon? John McAfee, the pioneering and controversial anti-virus software developer, who took over as the chief executive officer of MGT Capital Investments Inc. last year and turned the video-game company into a cybersecurity firm. He expects the money-losing company to be profitable as it ramps up its bitcoin mining business, with the goal ...

Bloomberg Android already powers most smartphones on earth. Now Google is placing its mobile operating system right inside cars, a bid to cement its core service in the auto industry as more technology sweeps in. Alphabet Inc.’s Google is showed off its next step in automotive software: an Android version of touchscreen car consoles and infotainment systems. It will host ...

DUBAI / Emirates Business The UAE’s continued construction boom ahead of Expo 2020, has driven demand for ceramic tiles to increase by almost 70% and, with almost 40% of tiles imported from overseas, this poses huge opportunities for international manufacturers to win contracts on prestigious UAE projects. As the largest exporter of tiles to the UAE, India is well positioned ...

Dubai / Reuters Abu Dhabi’s government-owned power utility has closed a 3.2 billion dirham ($872 million) financing package for what will be the world’s largest solar power plant, the utility’s top official said. Abu Dhabi Water & Electricity Authority (ADWEA) raised $650 million in debt with the remaining $222 million raised in equity, Director General Saif Saleh al-Sayari said. A ...

ABU DHABI / WAM Computer and telecommunication capital inflows to the country grew by 2.5 percent to AED13.1 billion during 2016, as per UAE Central Bank statistics. According to the UAE Balance of Payment service data, the computer and telecommunications sectors’ combined credit side hit AED20.9 billion, accounting for 1.5 percent of the 2016 GDP, while their debit reached AED7.8 ...

BERLIN / Reuters Emaar Malls will buy a 51 percent stake in e-commerce fashion website Namshi from Global Fashion Group, a firm backed by Rocket Internet , for $151 million, a sign of growing demand for tech deals in the Middle East. The acquisition comes two months after Amazon agreed to buy Souq.com, showing how the Gulf region is embracing ...