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

  Sydney / AFP Giant waves and high winds have prevented any search operations for missing Malaysia Airlines flight MH370 for the past month with the hunt now not expected to be complete until August, authorities said on Wednesday. Australia is leading the painstaking search for MH370 in the remote Indian Ocean, but the wild weather has not allowed the ...

  Abu Dhabi / WAM The Abu Dhabi General Services Company (Musanada) announced that it has completed 40 percent of the upgraded road network and interchange at Abu Dhabi International Airport, as part of its efforts to realise the vision of President His Highness Sheikh Khalifa bin Zayed Al Nahyan, and to implement the directions of His Highness Sheikh Mohamed ...

  Dubai / WAM The Road and Transport Authority (RTA) Licensing Agency has recently launched the second phase of its ‘Online Vehicle Mortgage Addition’ service, the ‘Vehicles Mortgage Addition/Redemption’ scheme. The first phase of the scheme, ‘Online Vehicles Mortgage Redemption,’ was launched in 2013. Ahmed Bahrozyan, CEO of the RTA Licensing Agency, said, “The RTA constantly seeks to adopt the world’s ...

  Dubai / Emirates Business The Telecommunications Regulatory Authority (TRA) participated in the recently concluded 25th GCC Ministerial Committee for Post and Telecommunications, chaired by Dr Mohamed Bin Ibrahim Al-Swail, Minister of Communications and Information Technology of Saudi Arabia, held in Riyadh, Kingdom of Saudi Arabia. The meeting focused on the recommendations raised by the GCC Committee for Undersecretaries of ...

  Dubai / Emirates Business The Kempinski Hotel Mall of the Emirates, a leading luxury destination for fine dining and leisure, was recognised for its excellence in guest comfort at the Middle East Hotel Awards 2016, winning the trophies for the Best Room Refurbishment and the Best Hotel Suite. Taking place at Palazzo Versace Hotel in Dubai, the awards gala ...

  Dubai / Emirates Business Global shipping, logistics and marine services provider GAC announced an exclusive partnership between its bunker fuels trading arm GAC Bunker Fuels (GBFL) and ENOC Global Marine. Under the agreement, which was announced during the Posidonia international shipping event in Athens, GBFL has been appointed as ENOC’s exclusive sales agent and distributor, for marine lubricants in ...

  Bloomberg From Washington to Mumbai, central bankers are finding their policy decisions gummed up by a potential British exit from the European union. Federal Reserve Chair Janet Yellen became the highest-profile monetary policy maker to speak out this week, when she warned a so-called Brexit would have “significant economic repercussions,” a concern echoed by counterparts including Reserve Bank of ...

  Bloomberg Australia & New Zealand Banking Group Ltd raised US$1 billion with the first offshore sale by an Aussie bank of hybrid bonds that qualify as additional tier 1 capital under the current regulatory regime. The perpetual contingent convertible securities, which can be called by the issuer from June 2026 onward, were priced in the US currency market at ...

  BLOOMBERG India’s privately owned banks are extending new loans faster than their state-run rivals for the first time ever, as government lenders struggle to bring surging bad loans under control. New credit from private lenders amounted to 3.5 trillion rupees (US$52.4 billion) in the year to March 31, taking their outstanding advances to 17.9 trillion rupees, while state banks’ ...

  Bloomberg The main lending unit of Japan’s biggest bank may quit as one of the 22 primary dealers that underwrite auctions of the nation’s bonds, potentially becoming the first major financial firm to withdraw since the Bank of Japan introduced negative interest rates this year. Bank of Tokyo-Mitsubishi UFJ Ltd is considering the move and nothing has been decided, ...