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

  Bloomberg Many investors in retail stocks will be happy to see the back of 2016. But not those who bet on Boohoo.com Plc. The online fashion merchant’s shares have soared about 260 percent in 2016 as fashion-conscious youngsters snapped up garments such as bomber jackets and shoulder dresses for 15 pounds ($18.42) apiece. The stock’s rise is the biggest ...

  DUBAI / Reuters Emirates, the world’s biggest long-haul airline, has taken delivery of its first Rolls-Royce engine-powered Airbus A380 superjumbo and has resolved its dispute with the engine maker over a technical issue. The A380 jet arrived in Dubai on Thursday morning, two days after Airbus said it would delay the delivery of 12 A380s to the airline over ...

  Bloomberg Kate Spade & Co. shares surged the most in more than two years after Dow Jones reported that the luxury handbag maker is working with bankers to explore a sale of the company. The company has been under pressure from shareholders to find an acquirer amid a failure to boost profit margins. It is working with an investment ...

  Bloomberg US fast-food giant Yum! Brands Inc. plans to refranchise its KFC restaurant business in Turkey as part of a global shift away from owning its own outlets. KFC Turkey will increasingly grow through its franchisees, the Louisville, Kentucky-based company said in an e-mailed response to questions, without providing details. Yum, which also owns the Pizza Hut and Taco ...

  Santiago / AFP Qatar Airways bought a 10-percent stake in LATAM, the largest airline in Latin America, the Chilean-Brazilian company said. The investment, first announced last July, amounts to 60.8 million shares at a price of $10 each, LATAM said in a statement. The airline — the product of a 2012 merger between Chile’s LAN and Brazil’s TAM — ...

  Bloomberg The board of India’s central bank approved the move to ban high-denomination notes less than three hours before Prime Minister Narendra Modi announced the decision in a televised address to the nation. Information on how many members favored or opposed the move isn’t ‘on record,’ the Reserve Bank of India said in response to queries from Bloomberg News ...

  Frankfurt am Main / AFP Lending to households and companies picked up in November in the eurozone, the European Central Bank said on Thursday, signalling that its efforts to encourage spending and investment are gaining traction. Loans to households in the single currency area grew by 1.9 percent year-on-year, compared to 1.8 percent a month earlier, the bank said. ...

  DUBAI / Reuters Saudi Arabian commercial bank deposits rose to their highest level this year in November, a sign that a liquidity crunch due to low oil prices is easing as the government liquidates foreign assets to pay its bills, official data showed on Wednesday. Bank deposits climbed to 1.624 trillion riyals ($433 billion) from 1.610 trillion riyals in ...

  DUBAI / Reuters National Bank of Oman (NBO) said on Thursday it had received a letter from Treasure Fleet International proposing to buy a stake in Oman’s third biggest lender. NBO will review the proposal; no legally binding commitments have been made and any deal would be subject to approval by shareholders and regulators, it said in a bourse ...

  Bloomberg The dollar dropped to a two-week low against the yen as traders pushed it through stops in thin trading amid a slide in Treasury yields. The greenback weakened against all its major peers on Thursday, with leveraged funds shorting the dollar against the yen as the currency pair continued a pull back from a 10-month high. Bloomberg’s dollar ...