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

  Bloomberg Boeing Co.’s newest and largest 737 Max gunned down the runway and soared over the shore of Lake Washington, south of Seattle, on its way to an almost three-hour maiden flight. The latest model in Boeing’s best-selling jet family took wing five days ahead of schedule, during a week marking the 50th anniversary of the first 737 flight. ...

  ROME / AP Premier Paolo Gentiloni urged Alitalia workers to approve a compromise deal to relaunch Italy’s struggling flagship airline that was reached in last-ditch, government-mediated negotiations between unions and Alitalia management. The deal reached early on Friday reduces proposed job and salary cuts and calls for greater investment in the long-range routes that analysts say are critical for ...

  ROME / AP European turboprop manufacturer ATR sealed a long-awaited deal with Iran Air worth $536 million at list prices, making it the latest aerospace company to benefit after a nuclear accord eased international restrictions on trade with the Middle Eastern state. Iran Air will take 20 ATR 72-600 aircraft and has options for 20 more, ATR spokesman David ...

  Bloomberg Delta Air Lines Inc. increased the payouts its airport agents can offer passengers on overbooked flights, moving to prevent a public relations nightmare similar to the one plaguing United Continental Holdings Inc. Customer service agents will be able to offer passengers as much as $2,000 when they’re asked to give up a seat on an oversold flight, up ...

  Bloomberg The global oil market is moving closer to balance even as increases in US oil production push prices down in the short-term, Saudi Arabian Oil Co. Chief Executive Officer Amin Nasser said. “This is not a good indication of where the market is likely to be headed going forward, as the large new production capacity and investment we ...

  Bloomberg Wall Street banks’ growing optimism about the energy industry is the latest boost for US oil and natural gas producers already enjoying higher prices. JPMorgan Chase & Co., Wells Fargo & Co. and Citigroup Inc. said in their first-quarter earnings results that rising oil prices have helped them free a combined $370 million they previously set aside to ...

  Bloomberg German’s electricity grid regulator approved bids to build what will be the first offshore wind farms that depend entirely on market prices instead of government support and subsidy. The decision by Bundesnetzagentur, or BNetzA, grants power purchase agreements for 1,490 megawatts of wind farms to be built in the North Sea. Developers promised to supply power from the ...

  Bloomberg The South Korean trial of Samsung heir Jay Y. Lee for alleged bribery took an unusual twist as prosecutors said the company tried to conceal its gift of a 1 billion won horse ($885,000) by exchanging it for another animal. Prosecutors disclosed a series of text messages, emails and memos among Lee’s lieutenants to support allegations Samsung Electronics ...

  Bloomberg China’s broadest measure of new credit increased more than estimated in March amid strong growth in shadow banking. New loans slowed for a second month while the money supply increased at the most sluggish pace since July. Aggregate financing stood at 2.12 trillion yuan ($308 billion), the People’s Bank of China said, versus a median estimate of 1.5 ...

  Bloomberg The US stopped short of branding China a currency manipulator, but urged the world’s second-largest economy to let the yuan rise with market forces and embrace more trade. No major trading partner is manipulating its currency for an unfair trade advantage, according to the first foreign-currency report released by the Treasury Department under President Donald Trump. It kept ...