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

  Silicon Valley technology executives tend to be control freaks. Snapchat’s founders made sure they didn’t have to listen to stockholders when deciding how to run the company. When Marissa Mayer was a senior Google executive, she instructed her staff to test 41 shades of blue to find just the right color for a website toolbar. Jack Dorsey made sure ...

  Bloomberg Next Plc held its profit forecast and said it can mitigate a tough U.K. clothing market by improving ranges and switching suppliers, reassuring investors worried about the retailer’s price pressures and product challenges. The clothier maintained its forecast that profit will fall this year to between 680 million pounds ($849 million) and 780 million pounds, defying some analyst ...

  Bloomberg Emaar Malls PJSC, the shopping-center unit of Dubai’s largest publicly-traded property developer, bid for online retailer Souq.com in a challenge to an offer made by Amazon.com Inc., according to people familiar with the matter. The retail division of Emaar Properties PJSC, run by Mohamed Alabbar, offered about $800 million for Souq.com last week, which includes a convertible deposit ...

  Bloomberg Sonae SGPS SA, Portugal’s biggest hypermarket and supermarket chain, wants to show that a retailer from a modestly sized market can expand overseas without deploying shopping carts full of cash. The company this month expanded its presence across the Iberian peninsula by combining its sports retail arm with the regional unit of JD Sports Fashion Plc of the ...

  Bloomberg Malaysia Airlines Bhd. plans to seal deals for as many as 42 wide-body jets over the next few months as the unprofitable carrier seeks to rebuild its long-haul network following a surge in demand. Terms should be agreed in the next six to eight weeks for the lease of up to a dozen used Airbus Group SE A330 ...

  Dubai / Emirates Business FLC Production & Model Management, part of FLC Group – a Dubai-based Marketing Services Agency, launched the region’s first Model and Talent booking app. Available for both IOS and android users, this free application offers clients a revolutionary way to select talent for their upcoming campaigns. “At FLC, we are constantly looking for ways to ...

  Bloomberg Goldman Sachs Group Inc. is in preliminary talks for an equities license in Saudi Arabia as the US lender seeks to take advantage of the country’s economic reforms, according to people familiar with the matter. The bank has yet to file a formal application, the people said, asking not to be identified as the information is private. While ...

  Bloomberg The Bank of England (BOE) plans to boost fees on UK banks to recover 5.4 million pounds ($6.7 million) of regulatory costs associated with Brexit. The BOE’s Prudential Regulation Authority said that Britain’s withdrawal from the European Union ‘will require a significant amount of work’ to review rules and respond to industry questions. The bank said the industry might ...

  Bloomberg Bank of Ireland Plc Chief Executive Officer Richie Boucher, who took over amid the nation’s worst economic crisis in living memory and helped the lender recover from a bailout, intends to step down. Boucher, 58, will remain in charge of Bank of Ireland while the board seeks a new CEO, the Dublin-based company said in a statement. He ...

  Bloomberg The European Central Bank gave euro-area banks 233.5 billion euros in its last offer of free long-term cash, the largest net amount since the program was launched. Banks’ interest in Targeted Longer-Term Refinancing Operations (TLTRO) — four-year loans at a rate that starts at zero and could go lower — increased as the economic recovery spurs calls for ...