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

  It’s a highly choreographed event in which the future leaders of a secretive Chinese institution are announced to the world via a complex internal formula. No, not Beijing’s upcoming Communist Party congress, which traditionally appoints the new leadership — we’re talking about Cathay Pacific Airways Ltd.’s succession plan. The appointment of Rupert Hogg to follow Ivan Chu as chief ...

  A recent report from the UK suggested that the country eliminate speed bumps from its roads to ease vehicle passage and limit carbon emissions. This has since given rise to heated debate. In the US, homeowners often push for more speed bumps in their neighborhoods to slow drivers, making local routes for deliveries more cumbersome each year. But — ...

  DUBAI / Reuters Two Saudi Arabian telecommunications stocks surged on Monday on hopes that troubled operators have finally turned the corner, while Abu Dhabi real estate firm Eshraq was helped by a plan to tie up with state fund Mubadala. The Saudi stock index edged up 0.1 percent as Zain Saudi jumped 8.9 percent and Etihad Etisalat (Mobily) added ...

  Bloomberg The dollar fell and Treasuries held gains as soft inflation data from the US continued to feed into markets after the holiday weekend. US stocks edged higher as upbeat economic data from China offset lingering geopolitical concerns. The S&P 500 Index rebounded from a weekly drop, though trading was light, with many key markets still shut for Easter. ...

  DUBAI / Reuters Saudi Arabia’s privatisation drive is likely to result in around 100 new stock market listings in sectors including mining, healthcare and retail, a top HSBC executive said on Monday. Georges Elhedery, HSBC’s chief executive for the Middle East and North Africa, did not give a time frame for the listings but said they were part of ...

  Bloomberg Citigroup Inc. named Carmen Haddad as the head of its Saudi Arabia business as the US bank seeks to return to the kingdom after a more than 10-year absence, according to people familiar with the matter. Haddad is currently leading Citigroup’s strategy and business development for the kingdom, which the bank designates as a non-presence country, said the ...

  Bloomberg Wells Fargo & Co. fell after reporting first-quarter revenue that missed analysts’ estimates as the lender’s troubled community bank weighed on results. Wells Fargo shares slid 3 percent to $51.53 in New York, the lowest since Nov. 29 and the worst performance in the 65-company S&P 500 Financials Index. The stock has dropped 6.4 percent this year. The ...

  DUBAI / Reuters Al Rajhi Bank, Saudi Arabia’s second-largest lender by assets, reported a 10.1 percent rise in its first-quarter net profit on Monday, beating analysts forecasts. The bank made 2.22 billion riyals ($589.30 million) in the three months to March 31, up from 2.017 billion riyals in the same period a year earlier, it said in a bourse ...

  WASHINGTON / AP How often do students miss school? Are they ready for college? Are they physically fit? Is their school a welcoming place? States are beginning to outline new ways to evaluate their schools, rather than relying just on traditional measures such as test scores. The plans are required under a new federal education law, the Every Student Succeeds ...

  Bloomberg Turkish President Recep Tayyip Erdogan declared victory in a referendum to increase his powers as opposition parties contested the result. With 98 percent of ballots counted, Turks approved the most radical constitutional overhaul since the republic was founded 93 years ago by 51.3 percent to 48.7 percent, according to the state-run Anadolu news agency. Erdogan will have authority ...