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

  Bloomberg Lundin Gold Inc. is forging ahead with its gold project in Ecuador, one of the world’s largest undeveloped deposits, in a signal the industry is moving back into expansion mode as the metal continues to rally. The Vancouver-based miner is planning to raise $820 million to $940 million in two phases to finance the Fruta del Norte project, ...

  Eurajoki / AFP Deep underground on a lush green island, Finland is preparing to bury its highly-radioactive nuclear waste for 100,000 years — sealing it up and maybe even throwing away the key.Tiny Olkiluoto, off Finland’s west coast, will become home to the world’s costliest and longest-lasting burial ground, a network of tunnels called Onkalo — Finnish for “The ...

  Bloomberg Developers first placed solar panels on water years ago to address land-based space constraints. Now, they’re finding floating plants may be more efficient. In a year-long study in Hyogo prefecture north of Osaka, solar panels installed on a reservoir generated 14 percent more power than those set up on the rooftop of an office building, according to the ...

  Ritika SHARMA / Emirates Business As the scope for horizontal growth in the real estate takes backseat, there is a huge demand for vertical structures with smart designs that make optimal use of the space. Experts believe that the trend of smart vertical structures is poised to grow manifold in the coming years. “In Middle East region, some countries ...

  Dubai / Emirates Business A new online shopping platform in the UAE is breaking through the clutter in the world of e-commerce by offering customers industry-leading standards for warranty support and aftersales care. YallaShop.com offers almost 10,000 consumer electronics lines, from mobile phones and tablets, to televisions and cameras, from more than 400 brands. But while most similar platforms ...

  ALKESH SHARMA / Emirates Business Backed by zooming economy and diverse communities, the GCC cafe and bakery industry is all set undergo a robust growth in the next couple of years. This particular segment, out of the overall food industry, has registered an annual billing of nearly $1.9 billion, exhibiting strong growth during 2012-14. “Food market, especially cafe and ...

  New York/ AFP Hillary Clinton declared a historic victory for women as she grasped the Democratic Party nomination and the chance to become America’s first female president. “Thanks to you, we’ve reached a milestone,” a beaming Clinton told ecstatic supporters in New York: “the first time in our nation’s history that a woman will be a major party’s nominee.” ...

  Washington / AFP US President Barack Obama congratulated Hillary Clinton for clinching the Democratic presidential nomination, and planned to meet with her party rival Bernie Sanders later this week, the White House said. Obama called Clinton and Sanders and “congratulated both candidates for running inspiring campaigns that have energized Democrats, brought a new generation of Americans into the political ...

  Caracas / AFP Venezuela’s opposition cleared its first hurdle in its uphill race to call a referendum on removing President Nicolas Maduro, whom it blames for driving the country to the brink of collapse. But the leftist leader flexed his muscle when riot police fired tear gas to block opposition protesters from marching on the electoral authority’s headquarters, underlining ...

  Chittagong / AFP China accused the Philippines on Wednesday of ignoring requests for dialogue about their maritime dispute, as tensions rise before an international tribunal’s ruling on the territorial row. The Philippines has “unilaterally closed the door of settling the South China Sea issue with China through negotiation”, China’s foreign ministry said in a lengthy statement published by the ...