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

  Bloomberg Just how much foreign money is contributing to rising property prices is a staple of dinner party conversations around the globe. Australians now have a near-official answer, and it’s less than most would think. The Australian Treasury estimates that foreign demand for real estate increased prices in Sydney and Melbourne by no more than A$122 ($90) a quarter ...

  Bloomberg Virgin Galactic’s new spaceship has made a successful first glide flight, a key step after a deadly crash of its predecessor two years ago, the spaceflight company said. The new SpaceShipTwo, dubbed VSS Unity, was hoisted aloft by carrier airplane WhiteKnightTwo VMS Eve from the Mojave Air & Space Port in California, the company said on Twitter. Released ...

  Bloomberg After turning Starbucks Corp. into the world’s largest coffee chain, Chief Executive Officer Howard Schultz will hand the reins to a lieutenant who could solidify its role as a technology company. Kevin Johnson, a 33-year veteran of the tech industry who became Starbucks’ chief operating officer last year, will take the helm from Schultz on April 3. The ...

  Bloomberg Philippine tycoon Lucio Tan will consolidate his airline ventures as he focuses on expanding his flagship PAL Holdings Inc. and increase its appeal to potential buyers. PAL will acquire another company owned by Tan called Zuma Holdings & Management Corp. through a share-swap agreement, valuing the whole deal at 8.24 billion pesos ($166 million), the company said in ...

  Bloomberg Private suites, butler service, onboard showers, closets full of pajamas … international airlines have launched plenty of flashy amenities in their first- and business-class cabins in recent years. But the perks on the ground are just as exciting. One trend we’re excited to see on the uptick? Full-service spas in airlines’ premium lounges, often with a high-end cosmetic ...

  Bloomberg Apple Inc. plans to use drones and new indoor navigation features to improve its Maps service and catch longtime leader Google, according to people familiar with the matter. The Cupertino, California-based company is assembling a team of robotics and data-collection experts that will use drones to capture and update map information faster than its existing fleet of camera-and- ...

  Relaxnews A new website allowing Gmail users to unsubscribe from most websites and online services linked to their email address is currently buzzing online. There are, in fact, several online tools that can help declutter your inbox and keep personal data safe. OPTING OUT OF THE INTERNET The website deseat.me works in a very simple way. Users connect using ...

  San Francisco / AFP Apple has revealed it is investing heavily in autonomous vehicles in a letter asking the government to make it easier to develop self-driving cars. The company is “excited about the potential of automated systems in many areas, including transportation,” Apple said in a November 22 letter to the National Highway Traffic Safety Administration offering Apple’s ...

  Bloomberg Computerized sensors that warn drivers they’re about to rear-end another vehicle or prevent other types of accidents are available on models made by every major auto manufacturer. The problem, according to a US safety agency and accident-prevention advocates, is that these life-saving technologies are optional equipment that makes its way onto a tiny minority of vehicles. “We’re not ...

  Bloomberg Dubai-based DP World Ltd. is teaming up with Caisse de Depot et Placement du Quebec, Canada’s second-largest pension fund manager, to create a C$5 billion ($3.8 billion) venture that will invest in ports around the world, including regions such as Asia and Latin America. DP World, which operates ports from China to South America, will own 55 percent ...