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

  Washington / TNS A lack of staff to train air traffic controllers means it can take six years — twice the norm — for the new hires to become fully certified at the busiest US control facilities, according to industry experts and government reports. The training delays come as the National Air Traffic Controllers Association says it faces a ...

  Ottawa, Canada / AFP Canada, Mexico and the United States will look to dovetail their climate and other policies into a continental strategy when Prime Minister Justin Trudeau hosts Barack Obama and Enrique Pena Nieto on Wednesday. But Britain’s shocking vote to quit the European Union has also abruptly shoved itself onto the agenda of the summit, which the countries ...

  Bloomberg International Monetary Fund Managing Director Christine Lagarde said that the fallout from Britain’s vote to leave the European Union hinges on what policy makers do in coming days. Much of the outcome “is going to depend on certainty or uncertainty, predictability or lack of predictability — people going in a risk-off mode or considering that the situation is ...

  Bloomberg Oil traded near $48 a barrel as the market remained volatile after the U.K. last week voted to leave the EU. Futures rose as much as 0.7 percent after declining 1.5 percent earlier in New York, following Friday’s 4.9 percent slump, the biggest drop in four months. The turmoil in financial markets continued on Monday with the pound ...

  Bloomberg New York’s landmark Waldorf Astoria hotel is scheduled to close in spring 2017 so owner Anbang Insurance Group Co. can begin converting most of the more than 1,400 rooms to luxury condominiums, said a person with knowledge of the plans. The luxury hotel, managed by Hilton Worldwide Holdings Inc., is set to reopen as many as three years ...

  It was 22 years ago this month when the U.S. was preparing for combat. North Korea’s expanding nuclear weapons program prompted President Bill Clinton to order reinforcements. The administration was lining up votes in the U.N. Security Council to impose economic penalties on the Pyongyang government, which repeatedly denounced sanctions as a “declaration of war.” Any investors could see ...

  Mong Palatino SPECIAL TO EMIRATES BUSINESS On June 9, the European Parliament passed a resolution expressing “deep concerns about the worsening climate for opposition politicians and human rights activists in Cambodia.” Meanwhile, 41 international NGOs signed a letter urging the Cambodian government to stop the harassment of groups working for people’s rights. Cambodian authorities were quick to dismiss these ...

  Shannon Tiezzi SPECIAL TO EMIRATES BUSINESS Well before Taiwan held its elections on January 20, Beijing made it clear that the “1992 consensus” was its bottom line for cross-strait relations. During an historic meeting with then-President Ma Ying-jeou of Taiwan, Chinese President Xi Jinping stressed that “as long as the 1992 Consensus and its core values are acknowledged, we ...

  ABU DHABI / WAM The UAE Space Agency signed a Memorandum of Understanding (MoU) with Global technology leader, Lockheed Martin, to launch a comprehensive dual-track space training programme for students and early career professionals in space fundamentals. Designed to prepare tomorrow’s Emirati leaders for future careers in space, the programme will feature a comprehensive four-month space training programme that ...

  Sharjah/ Emirates Business Sharjah Islamic Bank (SIB), voted “Best Islamic Bank in the UAE” at the World Finance Awards 2016, on Sunday announced that more honours have been bestowed as it has received the “First Successful Data Submission Award” from Al Etihad Credit Bureau (AECB). AECB provides world-class services on creditors to help financial institutions and credit providers make ...