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

  ABU DHABI / WAM Abu Dhabi City Municipality(ADM) underlined the importance of upgrading procedures to provide the best services, ensure optimal service management, and adopt top asset management practices through concerted efforts with all partners. To this effect, a workshop was organised by a number of infrastructure assets management teams in collaboration with the Opus Middle East Company, and ...

  DUBAI / WAM Dubai Customs, represented by the Jebel Ali Customs Centres Management, organised the largest public auction yet, in cooperation with DP World. As many as 533 containers were auctioned this time, comprising 35 categories of new and used goods that went under the hammer at the 3-day public auction. The auction, overseen by Dubai Customs’ Jebel Ali ...

  Copenhagen / WAM A partnership of leading international organizations, including the United Nations, announced the launch of a first-ever global standard to measure food loss and waste while at the Global Green Growth Forum (3GF) 2016 Summit currently underway in Copenhagen, Denmark. The Food Loss and Waste Accounting and Reporting Standard (FLW Standard) is a set of global definitions ...

  AMMAN / WAM The Gulf Organisation for Industrial Consulting (GOIC) participated in the 8th AFAQ Economic Conference, held recently under the title “Modern Economic Issues” in Amman, Jordan. Mohammed bin Khamis Al Mukhaini, Assistant Secretary-General for Industrial Information and Studies at GOIC, said, “It was an important opportunity to discuss challenges that various economic sectors face and to exchange ...

  Wellington / Bloomberg Vodafone Group Plc’s New Zealand business and the country’s largest pay-television provider, Sky Network Television Ltd., agreed to a NZ$3.44 billion ($2.4 billion) merger as they grapple with increasing competition. The global mobile-phone operator will own 51 percent of the combined entity, the companies said in a joint statement Thursday. Sky Network is issuing new stock ...

  Paris / Bloomberg Airbus Group SE is close to selling off its remaining holding in Dassault Aviation SA as the European aircraft maker disposes of assets to focus on its core businesses, people familiar with the matter said. Airbus is working with advisers, and a sale could come as soon as this week, the people said, asking not to ...

  Dubai / AFP Bahrain’s struggling carrier Gulf Air said on Thursday it reduced losses by 62 percent last year as a result of the company’s restructuring. Losses fell from 62.7 million dinars ($166.29 million) in 2014 to 24.1 million dinars ($63.92 million) last year, Gulf Air said in a statement. “I am delighted with these results. 2015 delivered the ...

  New York / Bloomberg Iberia suspended its route to Africa’s biggest economy on May 12, followed by United, which informed employees that it would end flights from the US to Nigeria at the end of June because of a lack of demand and trouble collecting payments. British Airways and Emirates have said they are facing difficulties obtaining outstanding air ...

  WASHINGTON / AFP A decision to ease the bottlenecks at London’s airports faces the threat of further delays in the aftermath of Britain’s vote over membership in the European Union on June 23, Heathrow Chief Executive Officer John Holland-Kaye said. “If we leave the EU, the main focus of government will be figuring out what it all means, renegotiating ...

  ALKESH SHARMA / Emirates Business Economic diversification, through reducing dependence on oil revenues, is the only path to success in the UAE’s corporate ecosystem. Small and Medium Enterprises (SMEs) and start-ups, which are considered the backbone of any economy, could play a crucial role in facilitating this diversification. Buoyed by the great government and bank support, SMEs and start-ups ...