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

  World Refugee Day, which is observed on June 20 every year, yet again highlighted the plight of migrants worldwide amid gruesome UN reports the number of refugees and others fleeing their homes worldwide has hit a new record of 65.3 million people by the end of 2015. “This is the first time that the threshold of 60 million has ...

  Casey Michel SPECIAL TO EMIRATES BUSINESS For the past year, there’s been a distinct distance between the rhetoric surrounding the Central Asia South Asia Electricity Transmission and Trade (CASA-1000) project and the unfurling realities on the ground. Regional officials, most especially within Tajikistan and Pakistan, have heaped continued praise on the project, and have found themselves supported by voices ...

  A few weeks ago, Apple’s Tim Cook was all smiles as he stepped into a sedan operated by Didi Chuxing. Apple had just invested $1 billion in the ridesharing company, and Cook was no doubt feeling satisfied. But he was probably feeling another emotion too: relief at getting a piece of China’s “internet of vehicles” before it’s too late. ...

  New Delhi / Bloomberg India will allow foreign entities such as funds and portfolio investors to fully own local airlines, raising from an earlier cap of 49 percent, in a bid to lure investment into Asia’s third-biggest economy. Shares of InterGlobe Aviation Ltd., Jet Airways India Ltd. and SpiceJet Ltd. rallied. Foreign investment limits in commercial airlines will be ...

  Washington / Bloomberg Boeing Co. is nearing a $4 billion deal with Russia’s largest air-freight company that would help extend the life of the iconic, hump-nosed 747 jumbo jet amid waning demand for four-engine aircraft, people close to the transaction said. The US planemaker is in advanced talks with AirBridgeCargo Airlines and its Moscow-based parent, Volga-Dnepr Group, to convert ...

  New York / AFP The sun-powered Solar Impulse 2 aircraft set off from New York’s JFK airport early on Monday, embarking on the transatlantic leg of its record-breaking flight around the world to promote renewable energy. The flight, piloted by Swiss adventurer Bertrand Piccard, is expected to take about 90 hours — during which Piccard will only take short naps ...

  Tokyo/ Bloomberg LG Electronics Inc., with businesses spanning TVs to washing machines, is looking at home appliance acquisitions to fuel its global expansion and withstand a slowing smartphone market. The company will probably focus on business-to-business targets, such as component makers, Jo Seong-Jin, president of LG’s home appliance division, said in an interview. Earnings from the business will increase ...

  Sriharikota / Tribune News Service The Indian Space Research Organisation (ISRO) on Monday began the 48-hour countdown for the launch of 20 satellites, weighing a combined 1,288kg. The satellites will be launched by the national space agency’s workhorse rocket, Polar Satellite Launch Vehicle PSLV-C34, at 9:26am on Wednesday from the Satish Dhawan Space Centre in Sriharikota. The primary payload ...

  Sunaina Rana EMIRATES BUSINESS The digital world has become the front runner in all the sectors worldwide. We notice that no longer can anyone be ignorant or unwilling to accept the advancement of technology. It has been witnessed that every department of an organisation requires digitalisation for their day-to-day operations. Though Human Resource plays a significant role in managing ...

  Our Correspondent EMIRATES BUSINESS Acrow Misr has been designing, developing, manufacturing and installing of formwork, falsework, scaffolding and steel structure Gulf Company is one of the leading companies in the manufacturing, design and rental formwork, and scaffolding in United Arab Emirates. For over 30 years, Acrow Misr has been designing, developing, manufacturing and installing of formwork, falsework, scaffolding and ...