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

  Seoul / Bloomberg Singapore Airlines Ltd. will restart nonstop flights to the US three years after it stopped the services, ending the reign of United Airlines as the only carrier flying direct between the two nations. Singapore Air will start a daily nonstop flight from the city-state to San Francisco on Oct. 23 using Airbus Group SE A350-900 aircraft, ...

  Johannesburg / Bloomberg Fastjet Plc’s new chief executive officer said he may replace the African discount carrier’s planes with smaller ones and move its head office to a city somewhere on the continent from London to help end losses. The Airbus Group SE A319 jets used by Fastjet may be too large for the markets they serve, Nico Bezuidenhout ...

  NEW YORK / AP Wal-Mart Stores Inc. said it is cutting jobs in accounting and other back-office positions at about 500 locations in the Western region of the U.S. The move will affect two or three people per store, totaling as many as 1,500 workers, Wal-Mart spokesman Kory Lundberg said. But those employees are expected to be offered positions that ...

  Sriharikota / Bloomberg India’s space agency will launch a record 22 satellites on a single rocket as it tries to ease a global backlog and demonstrate the ability to compete with commercial spaceflight companies run by billionaires Elon Musk and Jeff Bezos. Satellites from the U.S., India, Canada and Germany will enter orbit after a scheduled June 20 liftoff ...

  DUBAI / Emirates Business Nissan has signed a Memorandum of Understanding (MoU) with the Greater Amman Municipality in Jordan as part of a landmark initiative to provide the Kingdom with its first 100 Nissan LEAF and Nissan e-NV200 electric vehicles (EVs). The vehicles, to be supplied by Bustami & Saheb (BSTC), Nissan’s exclusive distributor in the Kingdom, will be ...

  Amman / Tribune News Service Jordan has signed an agreement to build its “first coal-fuelled power plant”, the Energy Ministry said. “This is the first power plant in Jordan that runs on coal,” said Energy Minister Ibrahim Saif, adding that around 70 per cent of electricity globally is produced by coal. The plant will run on coal and petroleum ...

  BEIRUT / Reuters Iran has filed a formal complaint with the International Court of Justice to recover nearly $2 billion in assets frozen in the United States, Iranian President Hassan Rouhani said. The U.S. Supreme Court ruled in April that the assets must be turned over to American families of people killed in the 1983 bombing of a U.S. ...

  AMMAN / Tribune News Service In less than two years, a team of archaeologists has amassed records for 90,000 Middle Eastern sites in an online database. The Endangered Archaeology in the Middle East and North Africa (EAMENA) project documents archaeological sites and assesses the threats to them in 10 countries, said project Director Robert Bewley from the University of ...

  Jeddah / Tribune News Service Saudi Arabia is a key partner in international development and among the world’s top donors as the provision of external assistance and donations are major aspects of its foreign policy. In a speech delivered at the Human Rights Council by Faisal bin Trad, Saudi ambassador to the UN, in Geneva, said that the Kingdom ...

  Bloomberg Federal Reserve Chair Janet Yellen seems to be coming around to what her one-time rival, Lawrence Summers, has been arguing for a while: Some of the forces holding down interest rates may be long-lasting and secular. That’s reflected in a marked downgrade in rate projections released by policy makers after their meeting on Wednesday. Six of 17 now ...