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

  What’s a mine worth? In theory, valuation could be based on the amount of salable metal it can produce. On that basis, Freeport-McMoRan Inc.’s Grasberg on the island of New Guinea is one of the best mines in the world, with the third-largest reserves of copper and one of the biggest gold deposits, worth more than $100 billion at ...

  The story about a $400 internet-connected juicer that turned out to be superfluous since a human could simply squeeze juice from its producer’s proprietary packs by hand was destined to go viral and did, with more than 800,000 hits on the Bloomberg website and strong reactions in other publications. It’s evidence of a growing resistance to Silicon Valley-style innovation. ...

  Reuters Two Saudi banks soared on Wednesday after saying they were in initial stages of a merger, helping lift the mood in other lenders while first quarter financial results buoyed the shares of two blue chips in other Gulf countries. On Wednesday Saudi’s Alawwal Bank agreed to start talks with Saudi British Bank (SABB) about a tie-up that could ...

  Bloomberg The dollar rose while US stock futures fluctuated with Treasuries as investors await details of the Trump administration’s tax cut plan that could breathe new life into flagging reflation trades. French election results, strong first-quarter earnings and speculation President Donald Trump’s plan will further boost corporate profits sparked risk appetite this week, sending US equities within striking distance ...

  Abu Dhabi / Emirates Business Etihad Airways on Wednesday announced all 14 weekly flights on the popular Abu Dhabi – Sydney route will be operated with its flagship A380 aircraft, effective October 29. The current daily A380 Sydney flights will be joined by a second daily superjumbo service, upgraded from a 328-seat Boeing 777-300ER. The announcement comes as Etihad ...

  Bloomberg China Southern Airlines Co. said it plans to buy 20 widebody aircraft from Airbus SE in a deal worth about $6 billion, according to a filing to the Hong Kong stock exchange Wednesday. The Guangzhou-based company said it will acquire the A350-900 jets, each with a list price of $298.9 million. Discounts are customary for such large orders. ...

  Bloomberg A US aviation security agency said there are ‘no imminent’ plans to add the UK or other nations to airports where passengers are banned from carrying electronic devices in the cabin on flights bound for American cities. The UK’s Times and Guardian had reported that U.S. officials notified the U.K. they were considering such a move, citing unnamed ...

  Emirates Business Boom introduced its supersonic passenger airliner as well as the XB-1 Supersonic Demonstrator, at Dubai Future Foundation premises. The commercial aircraft will connect the GCC to the rest of the world with flights up to 2.6X faster than conventional airliners. For example, a flight from Dubai to Sydney which takes 14:51 today, will take just 8:17 flying ...

  DUBAI / WAM Expo 2020 Dubai, the first mega-event to be hosted in the region, will lay the foundations for a diversified and sustainable tourism industry through a series of initiatives designed to support the UAE’s plans for diversification to a knowledge-based economy. The strategy was revealed during Expo 2020 Dubai: The Legacy, the first session to take place ...

  ABU DHABI / WAM UAE stock markets closed in green securing AED 3.5 billion in profits driven by the blue chips, specially those at the banking and real estate sectors. First Abu Dhabi Bank’s share jumped to AED 11.20 after the General Assembly of the new banking entity created following the merger of National Bank of Abu Dhabi and ...