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

Dubai / Emirates Business Rasasi Perfumes, one of the leading perfume brands in the Middle East, opened its doors to customers on Wednesday after officially opening its flagship store in City Centre Mirdif. Focusing on a superior customer experience, Rasasi have enhanced the store to create a relaxed and enjoyable environment for their customers. The gold and ivory colour palette ...

Bloomberg Ikea Group named Jesper Brodin, currently responsible for the development of the Swedish furniture retailer’s product range and supply chain, as chief executive officer after Peter Agnefjall decided to step down. Brodin, a 48-year old former assistant to Ikea founder Ingvar Kamprad who has worked at the maker of the Billy bookcase and Klippan sofa for 22 years, will ...

ABU DHABI / WAM Insurance companies listed on ADX and DFM held decent profits of AED445 million for the Q1 2017, an increase of 44.5 percent over the same period last year. The profits are an all-time-high for several years, reflecting the considerable growth recorded since the beginning of the year, according to a survey conducted by Emirates News Agency ...

Bloomberg PM Theresa May vowed to combat the “ideology” behind Britain’s worst terrorist attack in 12 years after a suicide bombing killed 22 people at a pop concert. IS claimed responsibility. Campaigning for next month’s general election was suspended indefinitely after the attack in northern city of Manchester. Standing outside her official residence at No. 10 Downing Street in London, ...

Dubai / WAM Dubai Internet City (DIC) affirmed its role as enabling platform for entrepreneurs and small and medium-sized enterprises (SMEs) at the 20th edition of TECOM SME Builder. The event, organised by the information technology park, brought together over 100 professionals who discussed the secrets of successful entrepreneurship with a focus on how best to harness business opportunities. Ammar ...

RIYADH / WAM The Gulf Cooperation Council for Arab States’ (GCC) Unified Selective Excise Tax and the Unified Value Added Tax (VAT) agreements, have come into effect after ratification by the UAE. The General Secretariat of the (GCC) has received the UAE’s ratification documents for the two agreements. In a statement, the Secretariat, said, “The UAE is the second State ...

ABU DHABI / WAM The mood of affluent investors in the UAE market has improved as compared to the last year, according to the First Abu Dhabi Bank’s index measuring impression of wealth holders. The index rose by 1.87 percent to 1038.28 points from 1019.13 points in April 2016, reflecting the positive mood prevailing toward country’s business environment. The index ...

Bloomberg Prime Minister Theresa May vowed to combat the “ideology” behind Britain’s worst terrorist attack in 12 years after a suicide bombing killed 22 people at a pop concert. IS claimed responsibility. Campaigning for next month’s general election was suspended indefinitely. In her first public appearance since the bombing, May said many children died in an act of “cold calculation” ...

Bloomberg South Korea’s military fired warning shots across the military demarcation line at an unidentified object flying on Tuesday afternoon, as tensions remained high on the peninsula days after another North Korea missile test. The military is analyzing the object’s flight path, South Korea’s Joint Chiefs of Staff said in a text message. Yonhap News reported that South Korea fired ...

Bloomberg An Indian fighter jet has gone missing near the India-China border after taking off from an air force base in northeastern India, according to an Indian Air Force official. The Sukhoi SU-30 aircraft had taken off on a routine training mission when radar and radio contact was lost roughly 60 kilometers north of an air force base in Tezpur, ...