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 Suhail bin Mohammed Faraj Faris Al Mazrouei, UAE Minister of Energy, and Rainer Baake, German State Secretary at the Federal Ministry for Economic Affairs and Energy, on Monday signed a joint Declaration of Intent on cooperation in the fields of energy between the two countries. The official signing took place during the World Future Energy Summit ...

  Abu Dhabi / WAM Officials of the Sharjah Chamber of Commerce and Industry (SCCI) will meet Luis Guillermo Solis Rivera, President of Costa Rica, and a high-level Costa Rican government delegation on Wednesday for talks aimed at boosting economic co-operation, increasing investments in various sectors and facilitating exchange of visits and experiences. Tourism, Islamic banking, services and infrastructure will be ...

  Bloomberg Cathay Pacific Airways Ltd., Asia’s biggest international airline, plans to shorten its fuel-hedging program and revamp its workforce as part of a new business strategy to halt a slide in earnings. The shares jumped the most in nine months. The carrier “won’t hedge as far forward as we have in the past” and will “rethink its workforce,” Chief ...

  DUBAI / Reuters Emirates is opening up its lounges at its Dubai hub to lower-tier frequent flyer members in what is the latest move by the world’s largest long-haul airline to look for new ways to boost revenues. Emirates had previously restricted access to these lounges to higher-tier frequent flier members and business or first class travellers. In an ...

  Bloomberg A UK aerospace company that designs rotary engines used in jet-equipped backpacks has sold a minority stake to Kuang-Chi Group, a Chinese technology investor. Gilo Industries Group, based in Dorset, has sold a 40 percent stake for $30 million. The funds will be used to expand Gilo’s business in Asia, according to a company statement on Monday. Founded ...

  Bloomberg Hugo Boss AG shares climbed the most in almost five years after the German clothier said 2016 operating profit was at the upper end of its forecast range, providing a boost for a company mired in falling sales and earnings. The stock rose as much as 9.7 percent to 60.33 euros, the steepest intraday gain since March 14, ...

  RIYADH / Reuters Saudi Arabian budget carrier flynas is to buy 80 Airbus A320neo narrow body jets in a deal worth $8.6 billion that includes upgrading an earlier order, it said on Monday. The 80 A320neo order is valued at $8.6 billion, flynas Chairman Ayed Al Jeaid said at press conference in Riyadh on Monday. The order is for ...

  DUBAI / Emirates Business The United Arab Emirates now leads the Western Asia and North Africa region in the Global Talent Competitiveness Index (GTCI) 2017, according to a report released by Adecco Middle East. The UAE was also ranked 19th out of the 118 participating countries, surpassing most nations in the ‘Attract’, ‘Retain’ and ‘Enable’ pillars of the survey. ...

  Abu Dhabi / Emirates Business The Masdar Institute of Science and Technology (MIST), an independent, research-driven, graduate-level university focused on advanced energy and sustainable technologies, announced that its CubeSat development program has completed the preliminary design review (PDR), marking a critical milestone for the Institute’s Space Systems and Technology program, which was designed by Masdar Institute faculty with support ...

  Dubai / Emirates Business The Mohammed Bin Rashid School of Government (MBRSG), a research and teaching institution specialized in public policy in the Arab world, has launched a six-week Dubai Data Compliance Course – a training program for leaders from 14 government entities in the UAE. The program aims to upskill leaders through teaching them how to use data ...