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

  Bloomberg Bank of Baroda (BoB) shares slumped the most in almost nine months after the Indian lender reported a surprise quarterly loss and its chief executive officer flagged an increase in bad loans over the coming months. Shares of the nation’s second-largest state bank sank 8.3 percent to 142.30 rupees in Mumbai. Analysts at Deutsche Bank AG, Jefferies India ...

  Tokyo / AFP The Bank of Japan’s shock negative rate policy is taking a bite out of profits at major banks, with Mitsubishi UFJ on Monday warning over its bottom line. The huge lender said its net profit fell 8.0 percent to 951.4 billion yen ($8.7 billion) in the fiscal year to March, blaming the drop on a slowdown in ...

  Our Correspondent / Emirates Business One of the most strategically positioned housing communities located on the picturesque outskirts of Abu Dhabi, Hidd Al Saadiyat has announced commencement of the construction of its private marina. This community boasts of around 1.5 million square meters of natural beachfront land and 7-kilometer of waterfront and the marina construction project, which is awarded ...

  RITIKA SHARMA / Emirates Business Summers are in and everyone expects UAE residents to be planning their vacations to some exotic cooler locales, but this year most of them will be staying back, contended industry experts. Tourism and hospitality sector experts vouch that UAE will remain one of the most-preferred choices as the new trend of holidaying within the ...

  ALKESH SHARMA / Emirates Business Strongly backed by prosperous economy and sturdy rise in the per capita income of the residents, the food services industry in the GCC region promises to grow significantly in the coming years. According to Al Masah Capital Ltd, region’s leading investment firm, GCC food services market stayed at US$18.8 billion in 2014 and it ...

  SUNAINA RANA / Emirates Business Beautyworld Middle East is celebrating its biggest y-o-y growth, with 4% growth in visitors as compared to last year. Ahmed Pauwels,CEO Messe Frankfurt Middle East, the organiser of Beautyworld Middle East told Emirates Business, “This is the 21 edition of the Beautyworld Middle East 2016, we have around 1530 exhibitors spread over 53000 sqft. ...

  RITIKA SHARMA / Emirates Business Driverless commercial/passenger vehicles, autonomous cars, hybrid and electric cars, immersive experiences such as hyperloop transportation, and the latest in smart tap and pay bicycles – the newest technology in transport is all set to awe inspire UAE in the upcoming NATRANS expo, which will be held from October 25 to 26, in Abu Dhabi ...

  Sharjah / Emirates Business Sharjah Museums Department (SMD) will use the occasion of International Museum Day to celebrate its tenth anniversary with a review of its successes over the past decade and a raft of new measures to improve visitor experiences. The department was founded in 2006 by His Highness Sheikh Dr Sultan Bin Mohammed Al Qasimi, Ruler of ...

  Dubai / Emirates Business dubizzle — the UAE’s leading property classifieds platform — reveals its first ever property report for the UAE’s Northern Emirates, comparing Q1 2016 data to Q1 2015. dubizzle.com has over over 5 million unique visitors a month, with an average of two visits per week, per visitor and an average duration of 16.5 minutes per ...

  DUBAI / Emirates Business Oman Power and Water Procurement Company SAOC (“OPWP”) announced that a consortium led by Mitsui & Co., Ltd., ACWA Power, and Dhofar International Development and Investment Holding Co. SAOG (“DIDIC”) has been awarded the 3,219 MW Ibri Sohar-3 power generation project, which is the largest single tendered Independent Power Project in Oman in the official ...