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

  Washington / Bloomberg The first thing online clothing reseller ThredUp did after clinching a new round of funding last year? Hunt for strategic warehouse space to get the goods to its customers as fast as possible. Amazon.com has spoiled them for anything less. Within six months, ThredUp’s chief executive officer, James Reinhart, had signed leases on two additional warehouses. ...

  Hairatan / AFP Some days there is no train at all crossing the bridge to Uzbekistan, yawns a customs officer in Hairatan, formerly a teeming Silk Road border town whose decline is a barometer of economic depression in Afghanistan’s north. “The camel driver is at work; the caravan is being readied,” proclaimed the mystic poet Rumi, born in Balkh ...

  Bloomberg After starving farms across Asia of rainfall, El Nino’s last gasps have infused life into the battered market for diesel fuel in the region.South Asian nations are using more diesel to run irrigation pumps used by farmers in the absence of rainfall to water crops and as dry weather depletes hydropower. That’s contributed to a 65 percent surge ...

  Sunaina Rana/ Emirates Business Reichle& De-Massari (R&M) is an independent Swiss family business with more than 52-years of experience in the information and communications technology market. Since its establishment in 1964, R&M has grown into one of the leading providers of passive cabling solutions for high-quality communication networks. R&M is now a multinational organisation that is represented by subsidiaries ...

  Our Correspondent / EMIRATES BUSINESS In 1985, Louis-Paul Guitay had a life-changing experience — a devastating injury that forced him to endure cervical spine rehabilitation. During his excruciating, prolonged physical rehabilitation sessions, Guitay began to fantasise about helping the therapist by mechanising his protocols for greater consistency. Little did he know — he was mere steps away from the ...

CAIRO / WAM The UAE chaired the16th meeting of the Customs Committee on Procedures and Information, which was launched at the headquarters of the General Secretariat of the Arab League. The meeting was chaired by Shatha Abdul Rahman bin Faris, Chairman of Customs Policies Department of the Federal Customs Authority.  

  ABU DHABI / WAM Mohammed Thani Murshid Al Rumaithi, Chairman of the Federation of the UAE Chambers of Commerce and Industry and Chairman of Abu Dhabi Chamber of Commerce and Industry, met with Mohammed Omar Abdullah Belfaqeeh, UAE Ambassador to the Republic of Singapore, and discussed ways of enhancing joint cooperation with Singaporean companies. At the meeting at the ...

  Bloomberg DP World Ltd., the Dubai-owned company that operates ports from China to South America, raised $1.2 billion from the sale of Islamic bonds and said a tender offer to buy back securities received 48 percent more bids than the target. The company sold a seven-year sukuk that will be priced to yield 237.5 basis points, or 2.375 percentage ...

  Sharjah / WAM HH Sheikh Dr Sultan bin Mohammed Al Qasimi, Member of the Supreme Council, Ruler of Sharjah and President of American University of Sharjah (AUS) received Bill McDermott, Chief Executive Officer of SAP, in his office at AUS on Tuesday. The meeting was attended by Hamid Jafar, member of the AUS Board of Trustees and Chairman of the ...

  Dubai / WAM Emirates Islamic, a Dubai-based Islamic financial institution, on Tuesday announced that it had successfully closed the issuance of a US$750 million 5-year sukuk from its US$2.5 billion Certificate Issuance Programme. The issue, which will be listed on NASDAQ Dubai and the Irish Stock Exchange, received overwhelming investor interest from across the globe and marked the bank’s return ...