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

  Dubai / Emirates Business CMCS, the leading in Project Management Information Systems, has announced that Dubai Parks and Resorts, the region’s largest integrated theme park destination, has deployed its PMWeb web-based project control system. The solution is a part of CMCS’ Project Management Information Solution Practice that offers organizations a single platform to manage, control and report on their ...

  Seoul / AFP Samsung on Tuesday suspended all production of its Galaxy Note 7 smartphone, halted sales worldwide and told customers to stop using the device, following reports that replacements for combustible models were also catching fire. The South Korean company’s latest efforts to contain a snowballing recall crisis that threatens to derail the powerhouse global brand came as ...

  Beijing / AFP China’s undead army of zombie corporations will not qualify for debt-for-equity swaps, the government said, as Beijing tries to curb the risks of ballooning corporate debt. New guidelines posted on the website of the State Council, China’s cabinet, sought to offer some clarity to long-discussed but hazy plans to reduce debt by letting lenders swap bad ...

  Bloomberg Jera Co., a venture between two of Japan’s biggest power utilities, agreed to acquire EDF Trading Ltd.’s coal-trading business as part of a push to lower fuel costs and expand its overseas business. The Tokyo Electric Power Co. Holdings Inc. and Chubu Electric Power Co. venture signed a non-binding agreement to buy all of EDF Trading Australia Pty, ...

  BLOOMBERG Ssangyong Motor Co., the South Korean SUV maker, is exploring a joint venture in China with Shaanxi Automobile Group Co. to produce vehicles in the world’s largest auto market. Ssangyong signed a letter of intent with Xi’an-based Shaanxi Auto to study a possible joint venture and local production plant, the Pyeongtaek, South Korea-based automaker said in a statement. ...

  Bloomberg Takata Corp. fell the most in three weeks in Tokyo trading after it was said to be considering bankruptcy protection in the U.S. The air-bag maker said no decision has been made. Takata dropped 7.5 percent to 347 yen, while the benchmark Topix Index advanced 0.4 percent. The Tokyo-based company, whose defective air-bag inflators triggered the biggest recall ...

  Port-au-Prince / AFP Haiti faces a humanitarian crisis that requires a ‘massive response’ from the international community, the United Nations chief said, with at least 1.4 million people needing emergency aid following last week’s battering by Hurricane Matthew. The storm left at least 372 dead in the impoverished Caribbean nation, with the toll likely to rise sharply as rescue ...

  Seoul / AFP South Korean President Park Geun-Hye on Tuesday told her government to prepare for large-scale defections from North Korea, just days after direct appealing to its citizens to flee their country. A recent spate of high-profile North Korean defections have provided a propaganda windfall for Seoul, which has spun them into a narrative of a Pyongyang leadership in ...

  Islamabad / AFP Pakistan’s government has imposed a travel ban on a leading journalist after he sparked an uproar by reporting that civilian officials had clashed with the military over its covert support for militants. Cyril Almeida, an assistant editor at Dawn, the country’s oldest and most prestigious English daily, announced early on Tuesday he had been placed on the ...

  Geneva / AFP A jailed scholar defending China’s mostly-Muslim Uighur minority was awarded a leading honour for human rights on Tuesday, a move swiftly condemned by Beijing. Ilham Tohti, who was handed a life sentence in 2014, won the Martin Ennals award for his outspoken criticism of Beijing’s policies towards Uighurs. “Ilham Tohti has worked for two decades to foster ...