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

  Bloomberg Less than two weeks after United Continental Holdings Inc. said it was done being a “docile competitor,” American Airlines Group Inc. signaled it’s no pushover, either. American is adding seven new routes from Chicago to midsize US cities starting July 5, President Robert Isom said in a letter to employees late. Chicago also got the most new service ...

  BERLIN / Reuters Emirates will press ahead with plans to launch flights on Sunday to Newark in the United States via Greece, despite attempts by members of the US Congress to block the route, the airline’s president said. Twenty-five members of Congress have written to US President Donald Trump asking him to stop the flight over accusations Emirates and ...

  Bloomberg Qatar Airways unveiled a new aircraft seat that can be docked with one next to it to create what the Gulf carrier says will be the industry’s first double bed in a business-class cabin. The so-called QSuite is more flexible than earlier models and will also allow four berths to be realigned to form a mini meeting area, ...

  DUBAI / Reuters An Airbus A330 airliner arrived in Tehran on Saturday, the second of 200 Western-built passenger aircraft ordered by IranAir following the lifting of sanctions on Iran last year. The long-haul aircraft, carrying IranAir Chairman Farhad Parvaresh and other officials, landed at Tehran’s Mehrabad Airport, the official news agency IRNA reported. The A330 was handed over in ...

  Abu Dhabi / Emirates Business Yoplait – part of the Abu Dhabi-based Agthia Group’s Consumer product portfolio – has significantly reinforced its position as a key player in the UAE value-added yogurt market (defined as the aggregate of non-plain yogurt products). With a value-share jump from 10.3 % to 11.1% in the fruit yogurt segment and from 35.8% to ...

  Bloomberg Swedish police detained a Bombardier Inc. employee on suspicion of bribery and questioned several others in connection with a rail contract in Azerbaijan. Evgeny Pavlov, a Russian citizen whose LinkedIn profile lists him as a Bombardier sales executive, was remanded in custody, according to court documents. Pavlov is suspected of aggravated bribery, and several people at the company’s ...

  Bloomberg Royal Bank of Scotland Group Plc is preparing to sell loan books and cut lending to some Western European corporate clients as part of plans to bolster its balance sheet and improve returns. The UK government-owned lender may divest commercial real estate loans in chunks of 300 million pounds ($365 million) to 400 million pounds to help reach ...

  Bloomberg UBS Group AG’s American wealth management unit has helped raise $110 million for a U.S. venture capital fund that will invest in companies in the health, education and environmental areas that are led by or co-managed by women. The fund is managed by Rethink Impact, a venture capital firm that invests in companies with a technological bent. Jenny ...

  Bloomberg Xiaoyin Zhang, the Goldman Sachs Group Inc. dealmaker who helped bring China’s three largest Internet companies to market, is leaving the firm. Zhang, a partner and head of the China technology, media and telecom group, is retiring after 15 years at Goldman, according to an internal memo obtained by Bloomberg. Connie Ling, a spokeswoman for the New York-based ...

  DUBAI / Reuters Bank AlJazira, one of the kingdom’s smaller banks, plans to raise its capital by 30 percent through a bonus share issue, it said. The bank said the capital increase to 5.2 billion riyals from 4 billion riyals ($1.07 billion) would be completed by issuing three new shares for every 10 shares held, paid for by capitalising ...