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

  Bloomberg The proposed United Nations accord to limit pollution from international flights could cost airlines billions. For passengers, the price may be less than an in-flight glass of pinot noir. Airlines estimate the measure being debated this week in Montreal will cost the industry between $2.9 billion and $12.4 billion annually by 2030. Based on a handful of sample ...

  Bloomberg Barclays Plc agreed to sell its Egyptian business to Morocco’s Attijariwafa Bank as the British firm shrinks its global operations and speeds up the sale of unwanted assets. The deal will probably be completed by the end of this year, the London-based lender said in a statement. The disposal will boost the bank’s common equity Tier 1 ratio ...

  Emirates Business Saxo Bank Group (‘The Group’) reported a net profit of DKK 158 million for the first six months of 2016. During the same period, client collateral deposits continued to rise, increasing by DKK 6 billion, compared to H1 2015, to reach a record high of DKK 82 billion. The operating income for the group reached DKK 1.5 ...

  Bloomberg Citigroup Inc., seeking to move beyond a 2014 fraud case in Mexico and settle doubts over its commitment to the nation, plans to rename its local unit Citibanamex and invest $1 billion over four years in technology and branch upgrades. “These investments in Citibanamex reaffirm our commitment to Mexico and our confidence in its prospects,” Chief Executive Officer ...

  Bloomberg European banks are preparing a fresh round of bloodletting — with some 20,000 jobs set to go — as tougher rules and negative interest rates weigh on profits. ING Groep NV will slash 5,800 positions over five years as it focuses on Internet and mobile banking and automates systems, the Amsterdam-based lender said. Last week, Germany’s Commerzbank AG ...

  Bloomberg When it comes to speculation about German government support for Deutsche Bank AG, Chancellor Angela Merkel has no good answer. After years spent leading the push for new European Union rules to contain banking crises without putting taxpayers on the hook, you might expect Merkel to rule out state aid for Deutsche Bank. She hasn’t, even though that ...

Bloomberg Google is embarking on a wholesale revamp of its mobile phone strategy, debuting a pair of slick and powerful handsets that for the first time will go head-to-head with Apple Inc.’s iconic iPhone. Alphabet Inc.’s Google on Tuesday unveiled the Pixel and larger Pixel XL, the first phones that were conceptualized, designed, engineered and tested in-house. The Pixel handsets ...

  Relaxnews In the two years since Amazon.com Inc. released its Echo speaker, the household device has become a surprise hit — and a surprise threat to Google, as users turn to the Echo for information from the web. Now Google is trying to strike back. On Tuesday, the internet search giant introduced Google Home, a voice-controlled wireless speaker that ...

  Bloomberg Google has released a virtual reality headset that’s cheaper than other options in the market. During an event in San Francisco, the Alphabet Inc. unit introduced Daydream View, a headset and controller for viewing virtual reality media with a smartphone. At $79, the price is well below products from HTC Corp. and Facebook Inc.’s Oculus, which cost hundreds ...

  Bloomberg Kong Tse has seen first-hand how the global uproar over flammable Samsung Note 7 smartphones is playing out with consumers. The 26-year-old, who hawks devices in the warrens of Hong Kong’s Wanchai Computer Center, says sales of the company’s handsets have tumbled 30 percent since the controversy began, including the high-end S7 Edge. “Once betrayed, eight times avoided,” ...