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

  Malls are fighting for shoppers with one thing their web rivals can’t offer: parking lots. With customer traffic sagging, US retail landlords are using their sprawling concrete lots to host events such as carnivals, concerts and food-truck festivals. They’re aiming to lure visitors with experiences that can’t be replicated online — and then get them inside the properties to ...

  DUBAI / Reuters Shares of Dubai builder Drake & Scull (DSI) slumped to a 14-month low in heavy trade on Sunday as investors reacted to the company’s revised capital restructuring plan, while last week’s fall in oil prices knocked down oil-sensitive shares. Dubai’s stock index fell 1.0 percent as DSI plummeted 9.9 percent to 0.399 dirham after a shareholder ...

  Bloomberg Pearson Plc Chief Executive Officer John Fallon suffered the largest shareholder rebellion so far this year in the UK, with about 61 percent of votes cast against the education company’s pay report at the annual general meeting. The vote on the report, which covers pay for 2016 and includes share awards, isn’t binding and doesn’t require the company ...

  Bloomberg Societe Generale SA agreed to pay 963 million euros ($1.05 billion) to settle a legal dispute with the Libyan Investment Authority (LIA) over alleged bribery, averting a trial and prompting a surprise drop in profit. The French bank and LIA reached a deal to resolve “all matters between both parties” related to five transactions between 2007 and 2009, ...

  Dubai / Emirates Business C3 and RAKBANK have signed a partnership to provide a 360-degree payroll solution serving both banking and non-banking individuals and companies. The signing, which took place on May 1 at Seamless Middle East at The World Trade Centre in Dubai, is expected to drive financial inclusion and open up new markets. RAKBANK’s RAKMoneyTransfer will be ...

  Bloomberg Less than a quarter of London’s investment bankers were pleased with their 2016 bonuses, with staff at Deutsche Bank AG the most disgruntled after Chief Executive Officer John Cryan slashed discretionary compensation for many top traders and advisers. By a small margin, those at JPMorgan Chase & Co. were happiest. Some 61 percent of the German bank’s employees ...

  MILAN /Reuters Loss-making airline Alitalia, which asked to be put under special administration, had debts of around 3 billion euros ($3.3 billion) as of the end of February, Italy’s government said. In a document marking the opening of the special administration process and the appointment of three commissioners to run the airline, the government said Alitalia had current liabilities ...

  Bloomberg A record plane-buying spree is poised to land Singapore Airlines Ltd. in an unfamiliar territory. Southeast Asia’s biggest carrier is expected to turn to a net-debt position as early as 2018 — for the first time in 13 years — as the company borrows money and sells bonds to meet capital expenditure needs, analysts say. Singapore Air, which ...

  Bloomberg Rolls-Royce Holdings will bid to power a new short-haul jetliner being designed by Boeing as the UK engine maker seeks to re-enter a market it quit in 2011. Rolls is preparing a pitch to Boeing as the U.S. manufacturer works on the business case for a so-called middle-of-market plane, Chief Executive Officer Warren East said in comments after ...

  ABU DHABI / Agencies Abu Dhabi Global Market (ADGM) the international financial Centre, has announced the creation of a new Talent Hub in Abu Dhabi specifically for financial services, to position Abu Dhabi as a regional centre of excellence for financial services talent development. The initiative aims to increase access to and development of human capital in finance sector. ...