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

    Kuala Lumpur / AFP A piece of aircraft wreckage found in June off Tanzania has been confirmed as coming from the doomed airliner MH370, Malaysia said on Thursday. The debris, found on Pemba Island off the Tanzanian coast, is the latest piece of wreckage to be linked to the Malaysia Airlines jet, whose disappearance remains a mystery. Malaysia’s ...

  Washington / AFP Less than two weeks before their first debate, Donald Trump and Hillary Clinton are in a very tight race for the White House, a national poll showed. The CBS News/New York Times survey found Clinton had just a two-point edge (46 to 44 percent) over her Republican rival in a two-way matchup among likely voters. Among ...

  Sharjah / Emirates Business More than 300 new hotels housing almost 85,000 guest rooms are set to open across the Middle East and Africa next year, latest industry figures have revealed. The Middle East and Africa Hotel Construction Overview report by TOPHOTELPROJECTS – released in the days leading up to the 17th annual The Hotel Show Dubai (17-19 September ...

  DUBAI / Emirates Business For the seventh year in a row, National Bonds Corporation (National Bonds), the leading sharia-compliant savings and investment company in the UAE, is distributing ‘Eidiyah’ to more than 500 lucky minor bondholders. Eidiyah is an annual initiative that rewards minor bondholders via special electronic draws for AED50 and a grand draw for AED50,000 – held ...

  Emirates Business Underscoring Majid Al Futtaim’s leadership in the retail sector, the Luxury Wing has undergone a complete revamp as part of the mall’s Evolution 2015 AED1 billion multi-stage redevelopment journey, contemporising the avenue to offer a premium location for international luxury brands. Most recently, Mall of the Emirates has welcomed MCM, Boucheron, Brunello Cucinelli, Etro, Marc Jacobs, Roger ...

  Bloomberg More than 6,000 workers cycle through the world’s biggest nuclear plant every day to operate and maintain a facility that hasn’t sold a kilowatt of electricity in more than four years. The buzz at Tokyo Electric Power Co. Holdings Inc.’s Kashiwazaki-Kariwa plant plays out daily across Japan, where utilities employ thousands of workers and spend billions of dollars ...

  Bloomberg Have you been mixing up your Chinese debt with your Chinese leverage? If so, economists at Nomura Holdings Inc. want you to stop that right now. In a note published this week, they argue that the conventional wisdom that “debt” and “leverage” are basically the same doesn’t really work for the world’s second-largest economy. In fact, the two ...

  Bloomberg A Singapore-based shipping trust that operates container ships is asking creditors for leniency on about $253 million of debt, in the latest sign of debt woes in the industry and in the city-state. Rickmers Maritime won’t be able to repay $179.7 million of senior debt due in March 2017 and the interest and principal on S$100 million ($73.3 ...

  Bloomberg Australia’s unemployment rate fell to the lowest in almost three years in August as fewer people sought work, while the economy unexpectedly shed jobs. Employment dropped 3,900 from July; economists forecast 15,000 gain Jobless rate declined to 5.6% from 5.7%; economists forecast 5.7% Full-time jobs rose by 11,500; part-time employment fell by 15,400 Participation rate, a measure of ...

  Wellington / AFP New Zealand economy’s maintained strong growth in the April-June quarter as record-low interest rates fuelled a construction boom, official data released Thursday showed. Statistics New Zealand (SNZ) reported gross domestic product (GDP) expanded 0.9 percent in the second quarter, just below market expectations of 1.1 percent. The data means annual growth for the year to June ...