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

  Sydney / AFP A two-hour flight from Sydney to London is a step closer to reality after the latest successful test on Wednesday of hypersonic technology in the Australian desert. A joint US-Australian military research team is running a series of 10 trials at the world’s largest land testing range, Woomera in South Australia, and at Norway’s Andoya Rocket Range. ...

Lagos / AFP A lack of jet fuel has led to the disruption of local and international flights in Nigeria, airlines said on Wednesday, warning travellers of cancellations. Arik, the country’s largest airline, said in a statement that scarcity of aviation fuel in the last few weeks had reached “alarming” levels due to an ongoing shortfall in imports. “Due to the ...

  Seoul / AFP After more than a decade of global dominance, South Korea’s shipbuilders face an unprecedented crisis that threatens the very survival of one of the flagship industries of Asia’s fourth largest economy. South Korea’s “Big Three” shipbuilders were once considered the holy trinity of Korea Inc. — controlling nearly 70 percent of the global market after seeing ...

  Mexico / AFP Sharks swim around a platform off Mexico’s east coast as scientists drill deep into the ocean floor, extracting the remains of the asteroid widely blamed for the demise of the dinosaurs. Some 30 meters (98 feet) above the ocean floor, the researchers pull out cylinders filled with rocks that could unlock the mysteries of life and ...

  Our Correspondent / Emirates Business As the largest US publisher of magazines worldwide, Hearst Magazines International, a unit of Hearst Corporation, has entered the hospitality industry in Dubai. Hearst Corporation, which encompasses 285 magazines and 200 websites in 34 languages across the 81 countries, has recently inaugurated the world’s first Harper’s BAZAAR Cafe in Dubai Design District (d3), in ...

  Our Correspondent / EMIRATES BUSINESS Founded in 1935, the family-owned business is based in Winnenden, Germany, and is the world’s leading supplier of cleaning technology to the private, commercial and industrial sectors. The Middle East subsidiary opened its doors in 1998 and is located in Dubai. The Karcher product range includes high-pressure cleaners, vacuum cleaners, steam cleaners, window vacs, ...

  CAIRO / WAM The Arab League commended measures taken by the United Arab Emirates (UAE) in response to the impact of the decline in world oil prices. “There are promising signs emerging from the project implemented by the UAE to diversify sources of national income,” Arab League’s Secretary-General Dr Nabil Al Araby said in a keynote address at the ...

  DUBAI / WAM The Barjeel Geojit Securities Company (BGS), in Dubai, is to organise on Wednesday the Indian-Emirati Financial Summit, ‘Strength of Past for a More Solid Future’, under the patronage of the Consulate-General of the Republic of India in the country. The summit’s discussions will shed light primarily on the finance industry with a focus on business areas.

  DUBAI / WAM A Memorandum of Understanding(MoU) between Dubai Government Human Resources department (DGHR) and the Chartered Institute of Personnel and Development, CIPD, based in London, has been signed during the 16th edition of the UAE Career Exhibition. The MoU concerns cooperation in developing the human resources function, working together in specific areas such as research projects related to ...

  DUBAI / WAM Mattar Al Tayer, Director-General and Chairman of the Board of Executive Directors of Roads and Transport Authority (RTA), held a meeting with Hussain Nasser Lootah, Director General of Dubai Municipality, during which they discussed means of streamlining cooperation on their future projects.