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

  Bloomberg Federal Communications Commission Chairman Ajit Pai wants to gut Obama-era net neutrality rules, but even he says the matter is best left to someone else: the lawmakers in Congress. Broadband companies AT&T Inc., Verizon Communications Inc. and Comcast Corp. support Pai’s initiative but also want Congress — rather than his agency — to step in and end a ...

  Bloomberg Activity in euro-area manufacturing and services accelerated more than initially estimated as growth in the region’s three largest economies converged. A composite Purchasing Managers’ Index rose to 56.8 in April from 56.4 in March, IHS Markit said on Thursday. An April 21 flash report was for an increase to 56.7. The spread between gauges for the rates of ...

  Bloomberg Being a big drug company isn’t what it used to be. The largest drugmakers are finding it more difficult to charge high prices for a range of medications, their latest quarterly results show. That’s raising the pressure to pump up sales volumes and find lucrative new treatments for niche markets. “You had an environment in which you could ...

  Bloomberg Growth in Britain’s services sector unexpectedly strengthened in April, giving the economy a solid start to the second quarter after a weaker-than-forecast performance at the start of the year. IHS Markit’s index rose to 55.8 in April from 55 in March, defying expectations for a decline to 54.5. Its measures for manufacturing and construction published earlier this week ...

    DUBAI / Reuters Arabtec’s shares rose after the Dubai builder swung to its first quarterly net profit since September 2014, bucking the trend in most of the region’s markets which followed global bourses and oil prices lower on Thursday. “The return to profitability (at Arabtec) is a good indicator and we believe there will be no negative surprises ...

  Bloomberg US stock futures pointed to a higher opening and European equities advanced amid positive earnings reports. Brent crude slid below $50 a barrel for the first time since March, while the rout in metals prices worsened. The S&P 500 Index looked to snap a string of meager moves, and the Euro Stoxx 600 climbed as Met Life Inc. ...

  Bloomberg Air France-KLM Group showed signs of a turnaround, with ticket-price declines almost halted in the first quarter as bookings increased and business-class fares surged. The positive demand-trend continued into April, and Europe’s biggest carrier is also benefiting from an increase in cash flow, reduced costs and a declining fuel bill, it said in a statement Thursday. The advances ...

  Bloomberg American Airlines Group Inc. is about to give coach passengers even less legroom. The company will shrink the space between most rows to 30 inches (76 centimeters) on its newest Boeing Co. 737 jetliners, spokesman Joshua Freed said. That’s an inch less than on its existing 737-800 planes. At least three rows on the new 737 Max jets ...

  Bloomberg Adidas AG is racing ahead in the U.S. with sales growth that’s outstripping archrival Nike Inc. as its namesake brand and Reebok capitalize on the trend for retro and “athleisure” fashions that are worn off the sporting grounds. North America was the German company’s strongest-performing region in the first quarter, with a sales increase of 31 percent at ...

  Bloomberg HSBC Holdings Plc’s investors are seeing a glimpse of what they want after years of shrinking: a return to revenue growth. The shares rose the most in five months as the bank reported a surprise jump in adjusted revenue driven by loan growth in Asia as well as the investment bank’s performance. Trading revenue jumped 29 percent, exceeding ...