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 Dubai and Abu Dhabi have been ranked the most expensive cities to live in across the Middle East, according to Mercer’s 2016 Cost of Living Survey. The global rankings see Dubai as the 21st most expensive city in the world, a rise of two places in comparison to last year, with Abu Dhabi, 25th in ...

  Dubai / Emirates Business Following a string of recent awards for its funding activities and treasury practice, Etihad Airways swept top honours at the Treasury Today Adam Smith Awards in London. Etihad Airways’ treasury team collected the highest honour, winning the Top Treasury Team Award for overall excellence. The team also picked up the awards for Best Financing Solution ...

  BLOOMBERG Global equities advanced and the pound strengthened toward a five-month high a day before Britons vote on membership in the European Union. Italian and Spanish government bonds rose. The MSCI All-Country World Index gained for a fourth day as bookmakers’ odds implied there’s only about a one-in-four chance that Britons will opt to leave the EU in Thursday’s ...

  Bloomberg The biggest oil-industry downturn in a generation has companies collaborating in ways they never thought possible. In this global effort, one of the world’s most expensive oil regions intends to lead the way. Last month companies operating in the North Sea started pooling spare parts and tools, and they are even sharing plans on how to drill wells ...

  Bloomberg Elon Musk called the proposed marriage of Tesla Motors Inc. and SolarCity Corp. a “no brainer,” saying his $2.86 billion plan to combine the companies would benefit both. Tesla investors didn’t seem so sure. While SolarCity shares rose 16 percent Wednesday in trading before U.S. exchanges opened, Tesla fell 10 percent. Oppenheimer & Co. analysts including Colin Rusch ...

  Our Correspondent EMIRATES BUSINESS The Al Habtoor Group has grown with the United Arab Emirates. What started out as a small engineering firm in 1970, is today one of the region’s most respected conglomerates with interests in the hospitality, automotive, real estate, education and publishing sectors. The Al Habtoor Group has earned itself a solid reputation both locally and ...

  Our Correspondent EMIRATES BUSINESS Natuzzi Italia, one the world’s most internationally acclaimed luxury furniture, presents its new collection of sofas and armchairs, perfect for welcoming guests during the observance of Ramadan where family and friends gather for the Holy Month. The new collection of sofas and armchairs were featured in the recently concluded Salone del Mobile, the largest international ...

  Beijing / Bloomberg Tencent Holdings Ltd. will lead an $8.6 billion acquisition of gamemaker Supercell Oy, getting its hands on some of the industry’s most popular mobile titles through potentially its largest-ever overseas deal. China’s largest internet company is leading a group that will buy 84 percent of Supercell, including shares held by SoftBank Group Corp. and current and ...

  Sydney / AFP A huge cattle station that pours sediment into the Great Barrier Reef was bought on Wednesday by the government as efforts are stepped up to help the World Heritage site bounce back from mass bleaching. Global warming has been wreaking havoc on the reef, contributing to an unprecedented bleaching event this year that saw much of ...

  Singapore / AP Singapore’s central bank said Wednesday it will make financial investments in the Chinese yuan as part of its official foreign reserves from June, reflecting the currency’s increasing international acceptance. The Monetary Authority of Singapore (MAS) said its decision “recognises the steady and calibrated liberalisation of China’s financial markets, and the growing acceptance of (yuan) assets in the ...