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

  Elon Musk wants to dig tunnels. Without them, he says, “we will all be in traffic hell forever.” It’s a well-timed ambition, given President Trump’s plan to spend $1 trillion on infrastructure projects. Let’s hope he can figure out what he’s doing. Musk has already started burrowing near the offices of Space Exploration Technologies Corp. in Los Angeles — ...

  Chinese companies looking to escape slower economic growth at home have turned, quite naturally, to soccer and Hollywood. They should prepare for some unhappy endings. Recon Group, the Chinese firm that bought the UK’s Aston Villa Football Club, is the latest to attempt to add movie making to its bow, in talks to acquire Millennium Films, according to people ...

  Bloomberg Lenovo Group Ltd.’s mobile-phone business continues to shrink, while its personal-computer division managed anaemic growth in the face of brutal holiday-season competition. The world’s largest PC maker’s profit plummeted more than two thirds in the December quarter, missing analysts’ projections after HP Inc. threatened its position in North America. Smartphone sales declined almost a quarter globally as Lenovo ...

  Bloomberg Huawei Technologies Co., the third-largest smartphone maker, is preparing to enter the competitive world of digital assistants with its own voice-powered service, people familiar with the matter said. A team of more than a hundred engineers is in the early stages of developing the technology at its Shenzhen, China offices, one of the people said. The efforts are ...

  Bloomberg For global technology investors, deal-making is set to be one of the biggest investment opportunities of 2017, and they may have the new US president to thank for it. Tech companies are one of the biggest accumulators of offshore capital. According to some estimates, Apple Inc., Microsoft Corp., Cisco Systems Inc., Oracle Corp., and Alphabet Inc. hold a ...

  Dubai / Emirates Business Mimecast Limited (NASDAQ: MIME), a leading email and data security company, announced the launch of the Mimecast Email Security Risk Assessment (ESRA), an analysis report measuring the effectiveness of email security systems. This effort highlights the need to push the entire industry to work toward a higher standard of email security. The report showed that ...

  RAS AL KHAIMAH / WAM Ras al-Khaimah Chamber of Commerce and Industry (RAK Chamber) hosted a high-level Belgian delegation led by Pieter De Crem, Belgian Secretary of State for Foreign Trade, to explore investment opportunities, enhance economic relations and bolster means of cooperation. The meeting was part of the Belgian delegation’s visit to the UAE, organised by the UAE ...

  ABU DHABI / WAM The Sharjah Finance Department (SFD) launched an e-payment service in partnership with the Emirates Identity Authority (EIDA). Now the Emirates ID card can be used to make payments for service fees for all Sharjah government departments, it was announced. The strategic agreement with Emirates ID indicates that the Department’s system is now linked to all ...

  DUBAI / WAM The 1st cycle of the Mohammed bin Rashid Al Maktoum, MRM, Business Innovation Award, launched by Dubai Chamber of Commerce and Industry in cooperation with the Ministry of Economy, has resulted in the adoption of new innovative strategies among businesses in the UAE and the wider GCC region. Preparations are currently underway to host an awards ...

  DUBAI / WAM Nasdaq Dubai welcomed Wednesday’s listing of US$1 billion Sukuk by Dubai Islamic Bank (DIB), on the region’s international exchange. This brings the total value of DIB’s Sukuk current listings on Nasdaq Dubai to US$4.25 billion, more than any other UAE issuer. DIB’s earlier Sukuk listings include a $1 billion listing in 2013, two listings of $750 ...