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

  Paris / AFP Despite voting to leave the EU, Britain is deepening defence ties with France, agreeing to pool missile development research centres in a step presented on Thursday as “historic”. European countries have been slow to pool arms know-how, fearing an erosion of their sovereignty. The deal announced at a Franco-British defence council in Paris goes much further than ...

  Dubai / Emirates Business GCC airlines should transform their distribution business models and how they sell to customers, according to a recent study by management consultancy Strategy& (formerly Booz & Company), part of the PwC network. Three trends are reshaping the GCC’s travel sector and threaten to weaken the connection between airlines and their customers: 1) shifting customer behavior ...

  Dubai / Emirates Business UAE Exchange, the leading global remittance, foreign exchange and payment solutions brand, announced recently that it has signed a strategic partnership with Fujairah Government Human Resources Department (FHRD). Through this alliance UAE Exchange will offer special benefits with regards to the financial services and solutions provided to employees working in government entities in the Emirate ...

  Dubai / Emirates Business UAE Exchange, the leading global remittance, foreign exchange and payment solutions provider, partnered with Sony PlayStation for co-branding its popular multicurrency prepaid card, ‘gocash’. Commenting on the tie-up, Rajesh G K, Chief Product Officer, UAE Exchange, said: “Sony PlayStation is a great brand to engage Millennials. Through this association, the Sony PlayStation customers will experience ...

  Dubai / Emirates Business The Digital Marketing Summit – Outreach 2016 successfully concluded its second edition on Thursday at the Grosvenor House Hotel in Dubai. The two-day event featured a diverse line up of more than 40 marketing experts, entrepreneurs and influencers from major local and international organizations, such as Twitter, Coca-Cola, DHL, Landmark, Sky News Arabia, Careem, Fetchr, ...

  London / AFP Comments by Federal Reserve chief Janet Yellen that an interest rate increase will likely be appropriate “relatively soon” gave a further shot in the arm to the dollar on Thursday. In testimony prepared for delivery to the Joint Economic Committee of Congress, Yellen said a rate hike would be appropriate as long as there is further ...

  DUBAI / Reuters Abu Dhabi’s banks were mixed in early trade on Thursday after soaring on Wednesday amid renewed speculation the government would merge more banks. Saudi banking shares were weak. Union National Bank lost 1.1 percent after jumping 12.3 percent on Wednesday. Abu Dhabi Commercial Bank was flat after it gained 5.8 percent. Abu Dhabi Islamic Bank pulled ...

  Bloomberg Indonesia’s central bank kept its benchmark interest rate unchanged after six cuts this year, seeking to calm financial markets in the wake of Donald Trump’s upset victory in the US presidential election. Governor Agus Martowardojo and his board held the seven-day reverse repurchase rate at 4.75 percent on Thursday, in line with the forecasts of all but three ...

  New Delhi / AFP India announced new measures on Thursday to allow farmers and marrying couples to withdraw more money from banks, as frustration mounted over a cash crisis triggered by the withdrawal of all high-value notes. The shock move last week, which saw 85 percent of the cash in circulation suddenly withdrawn, has led to huge queues forming ...

  Bloomberg The European Central Bank’s extraordinary stimulus measures are not intended to be permanent and should be withdrawn as soon as possible, Executive Board member Yves Mersch said. “The size of the purchase program means that will take some time, but a permanent commitment to our bond-buying, for example, would set the wrong incentives for government financing,” Mersch said ...