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

  Bloomberg Bank of England Deputy Governor-designate Charlotte Hogg said Brexit poses the biggest challenge for the economy and warned of the potential for a sharp drop in consumer spending that could hurt growth. BOE policy makers expect real incomes will be eroded this year as the slump in the pound boosts inflation above its 2 percent target. That’s a ...

  Bloomberg The possible departure of Ukraine’s central bank governor unnerved bond investors as questions arose over the fate of vital economic overhauls should she step down. Disappointed by a lack of government reforms, Valeriya Gontareva has told President Petro Poroshenko of her intention to resign, a person familiar with the matter said. Presidential spokesman Svyatoslav Tsegolko declined to comment ...

  Bloomberg Starbucks Corp., setting up shop in Italy for the first time, will open a Roastery location in Milan next year, turning to its upscale brand to gain a foothold in the country that birthed espresso. The 25,500-square-foot (2,370-square-meter) retail space will open in a historic post office in the city’s center in late 2018, about a year later ...

  Bloomberg Vodacom Group Ltd.’s Tanzanian unit plans to raise 476 billion shillings ($213 million) in a share sale, the first of a series of initial public offerings by telecommunications companies on the domestic stock exchange this year. The company plans to sell 560 million shares at 850 shillings each after it received approval on Tuesday from the Capital Markets ...

  Bloomberg India is considering selling a majority stake in Air India to a strategic partner after a $3.6 billion bailout failed to turn around the loss making national carrier, people with knowledge of the matter said. The proposal includes reviving Air India within five years of selling a 51 percent stake, the people said, asking not to be identified ...

  Emirates Business The Philippines’ largest airline, Cebu Pacific (CEB), flew 19.1 million passengers in 2016, an increase of 4% from the 18.4 million passengers flown in 2015. On average, CEB flights were 86% full during the year. Growth in passenger volume was largely driven by the airline’s low-cost short-haul services, and increased frequencies in key domestic markets. Specifically, the ...

  Bloomberg United Continental Holdings Inc.’s addition of 47 domestic round-trips marks a stepped-up effort to regain ground lost to rivals as a new management team tries to shed the airline’s reputation as an industry doormat. United aims to ‘compete and win across the board,’ President Scott Kirby said in a message about the new service. The carrier is also ...

  Dubai / Emirates Business tajawal, the Dubai-based online travel startup, has collaborated with Visa Checkout to provide easy payment solutions to its customers. This move makes it the first online travel agency in the MENA region to integrate quick digital payment solutions on their portal. Muhammad Chbib, tajawal co-Founder and CEO said, “The decision to add Visa Checkout as ...

  Bloomberg Cheap handsets helped Chinese smartphone makers climb to the top of home market. Now they’re hoping cutting-edge technology will take them global. Shrugging off a reputation for knockoffs, the country’s biggest brands are starting to push the envelope in everything from gadget specs to marketing campaigns. Huawei Technologies Co. has declared open-season on Apple Inc. and Samsung Electronics ...

  Bloomberg Apple Inc. and SAP SE took another step toward courting millions of developers who write applications for SAP’s systems, saying they’ll release a software development kit for iPhones and iPads March 30. The tools, which the companies said they’d build last May, lets the 2.5 million developers who customize SAP’s financial and logistics programs tap into building blocks ...