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

  ABU DHABI / WAM The total combined assets of National Bank of Abu Dhabi (NBAD) and First Gulf Bank (FGB) jumped to AED665.8 billion at the end of 2016, as revealed before the execution of a planned merger during the 1st quarter of the current year. The same financial data showed a rise in their combined deposits to around ...

  Abu Dhabi / Emirates Business Emirates Global Aluminium, the largest industrial company in the United Arab Emirates outside oil and gas, announced that its subsidiary Guinea Alumina Corporation (GAC) has awarded an engineering and programme management consultancy contract for its under-construction bauxite mine in the Republic of Guinea in West Africa to Fluor Corporation. The total value of contracts ...

  ABU DHABI / WAM The Ministry of Economy is to lead a trade delegation to the UAE-Moldovan Business Forum, which is taking place on February 8 and 9, in the Moldovan capital, Chisinau. The UAE delegation will be headed by Sultan bin Saeed Al Mansouri, Minister of Economy, who will meet with Pavel Filip, Prime Minister of Moldova and ...

  DUBAI / Reuters Most stock markets in the Gulf moved little on Monday but United Arab Emirates bourses outperformed with mid-to-large sized companies boosting Dubai, while Egypt’s index slipped in thin volume. Dubai’s main index added 1.2 percent as Emaar Properties gained 2.7 percent after saying it would recover 1.22 billion dirhams ($332 million) from an insurance claim for ...

  Bloomberg European stocks fell on Monday, with banking shares surrendering early gains, as concern increased about the region’s political risks and as investors await European Central Bank President Mario Draghi’s testimony at the European Parliament. The Stoxx Europe 600 Index was down 0.6 percent as of 1:56 p.m. in London, after erasing an earlier gain of 0.2 percent. The ...

  Bloomberg Treasuries rose with gold, while US and European equities slipped as a note of caution spread through global financial markets amid signs of growing political uncertainty in France and as investors await details from the Trump administration on promised pro-growth policies. The euro slumped versus the dollar and the region’s bonds advanced after prospective French presidential candidate Marine ...

  Bloomberg Ryanair Holdings Plc reported an 8 percent drop in third-quarter earnings and said it’s “cautious” about meeting full-year targets as a capacity glut and stuttering economies cause fares to tumble. Profit after tax fell to 95 million euros ($102 million) in the three months ended Dec. 31 from 103 million euros a year earlier, Dublin-based Ryanair said in ...

  DUBAI / Reuters After years of delays, China’s first large homemade passenger jetliner will take to the air for its maiden flight in the first half of this year, state media reported on Monday. State-owned aircraft maker Commercial Aircraft Corp. of China Ltd., or Comac, based in Shanghai, has nearly completed work on the 175-passenger C919, the ruling Communist ...

  Bloomberg Sharp Corp. rose the most in two weeks after the company narrowed its full-year loss outlook and posted its first quarterly profit in more than two years. The shares climbed as much as 4.5 percent to 327 yen in Tokyo on Monday, the biggest intraday jump since Jan. 23. The net loss will reach 37.2 billion yen ($330 ...

  Bloomberg Warren Buffett once quipped that a ‘farsighted capitalist’ should have shot down Orville Wright at Kitty Hawk to spare investors all the losses they would suffer on airlines in the decades after the birth of flight. That’s why it was a surprise when, in November, the billionaire’s Berkshire Hathaway Inc. disclosed investments in the four largest US carriers: ...