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

Bloomberg Selling aircraft to the world’s elite is set to remain a struggle as concerns about the fallout from Brexit and political uncertainty in the US weigh on buyers of corporate jets, according to Embraer SA. Western European markets are sluggish, and demand could dip in the US, said Michael Amalfitano, who took charge of the Brazilian company’s corporate-aircraft division ...

Bloomberg Lululemon Athletica Inc. is in advanced talks for a one-year lease at a store on Manhattan’s Fifth Avenue, helping to fill space in an area that has recently been plagued by retail vacancies, according to three people with knowledge of the matter. The active-wear maker is taking 8,000 square feet (743 square meters) at 597 Fifth Ave., across the ...

Bloomberg Ethiopian Airlines was betting Airbus SE’s new A350 widebody would help it lure lucrative business-class passengers away from the likes of Emirates, but nagging delivery issues are putting Africa’s largest carrier behind schedule. The airline won’t receive 10 new planes by the end of June as planned, with some coming as late as next year, Thomas Gabreyohannes, the carrier’s ...

Emirates Business Cathay Pacific on Tuesday announced that it will be making around 600 people redundant in its head office. This is part of a transformation programme to make Cathay Pacific and Cathay Dragon more effective by improving the speed and quality of decision-making and putting a greater focus on its customers. The changes will affect senior, middle management and ...

ABU DHABI / AGENCIES Abu Dhabi-listed Aldar Properties won a contract on Monday to build a new site for the twofour54 free trade zone that hosts media firms. Aldar, the state-linked construction firm that built Abu Dhabi’s Formula One circuit, was awarded the build-operate-transfer contract for the new site by the government-owned Media Zone Authority- Abu Dhabi, twofour54 said in ...

LONDON / WAM The UAE-UK Business Council held its eleventh plenary meeting at the PwC Head Office in London. Against the backdrop of the current General Election in the United Kingdom, The Business Council continued to review both the challenges and opportunities presented by the UK’s withdrawal from the European Union. The Business Council was keen to ensure that if ...

Abu Dhabi / WAM Abu Dhabi International Airport (AUH) handled in excess of 2 million passengers in the month of April this year, representing a 5.6% increase in airport traffic compared with April of 2016, which reached 1.9 million. Total arrivals hit 1,050,520 up by 6.6%, total departures, 1,019,835 up by 5.8%, and total transfer passengers reached 1,311,262 up by ...

Dubai / Emirates Business The Dubai Airport Freezone Authority (DAFZA) organized a special forum for Indian businesses under the theme ‘India: A Strategic Partner for Growth in an Evolving Global Economy.’ The event was held at the DAFZA Business Center in cooperation with IBPC – Dubai and Morrison Menon. It complements India’s exceptional investment drive and is expected to attract ...

Abu Dhabi / WAM In partnership with Ministry of Economy, the 3rd Annual Angel Rising Investor Education Symposium organised by startAD and VentureSouq saw local and global experts come together to discuss ‘Global vs. Local Investing Perspectives’ in the context of creating a robust and flourishing entrepreneurial ecosystem in the UAE. The symposium specifically sought to provide education on key ...

Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister of UAE and Ruler of Dubai, on Monday inaugurated the Enterprise Command and Control Centre (EC3), which will act as a unified platform linking various control centres of the Roads and Transport Authority’s, operational agencies with an integrated central control unit. According to the authority, EC3 ...