The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.
Bloomberg The operational chaos that engulfed Southwest Airlines Co. over the busy holiday period was a crisis decades in the making. In the aftermath of a meltdown that led to 16,700 flight cancellations and may cost the airline more than $800 million, blame has fallen on an outmoded crew scheduling system and an unusual point-to-point route network. Southwest was overwhelmed ...
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January, 2023
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10 January
Lidl sees busiest ever day in UK last month
Bloomberg Lidl had its busiest ever day in the UK in 28 years on December 23, 2022 as cash-strapped British consumers turned to the German discounter for cheaper groceries. The bumper sales day helped swell Lidl’s sales by 25% in the four weeks to Christmas with more than 1.3 million extra customers shopping at the supermarket chain. The discounter gained ...
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10 January
Wizz Air achieves lowest ever annual carbon intensity result
Abu Dhabi / Gulf Time Wizz Air, Europe’s fastest growing and most environmentally sustainable airline globally, reports that its average carbon emissions for 2022 amounted to 55.2 grams per passenger/km, 15.4% lower compared to the year of 2021, and the lowest ever recorded by the airline in one calendar year. Wizz Air operates the lowest carbon emissions per passenger/km ...
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10 January
Cornwall channels Cape Canaveral with first planned space flight
Bloomberg The small group of nations to have sent rockets into the sky from their own soil is about to gain a new member as Britain makes its first ever launch from a seaside town better known for surfing and sandy beaches than space adventures. The mission will take off from Spaceport Cornwall in Newquay, southwest England, the first ...
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10 January
Millions of Chinese travel back home
Bloomberg Chinese people are traveling in larger numbers domestically as the nation’s key holiday season kicks off, a sign that the end of Covid Zero is giving way to a rebound in economic activity. Some 34.7 million trips within the country were made by air, road, rail or water, according to the Ministry of Transport. An additional 35.4 million trips ...
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10 January
Jetstar flight makes emergency landing in Japan on bomb threat
Bloomberg A Jetstar Airways Pty plane carrying 136 passengers made an emergency landing in central Japan after receiving a bomb threat, public broadcaster NHK reported, citing police and airport personnel. Jetstar received a phone call at around 6:20 am Tokyo time from what appeared to be a man in Germany who said he had put a plastic bomb on ...
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10 January
Norway’s $30bn of projects to sustain gas flow to 2026
Bloomberg Norway will be able to sustain gas production at last year’s elevated level until at least 2026 thanks to 300 billion Norwegian kroner ($30 billion) of investment in new offshore fields. “Only rarely have we seen so much oil and gas produced on the Norwegian shelf as was the case last year – and only rarely have we seen ...
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10 January
Alibaba leads China tech gains as regulatory woes ease further
Bloomberg The page has finally turned for Chinese tech stocks, as the end of a years-long regulatory crackdown revives demand for an industry once dubbed “uninvestable.†The Hang Seng Tech Index jumped 3.2% Monday, led by Alibaba Group Holding Ltd., after a top central bank official said the clampdown on the Internet sector was drawing to a close. The ...
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10 January
Taiwan passes its chips act, offers tax credits to chipmakers
Bloomberg Taiwanese lawmakers have passed new rules that let local chip firms turn 25% of their annual research and development expenses into tax credits, part of efforts to keep cutting-edge semiconductor technologies at home and maintain the island’s technology leadership. Officials there have repeatedly said they will ensure the latest chip technologies remain in Taiwan, a point that has ...
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10 January
India mulls lifting rice export curbs as supply improves, prices stabilise
Bloomberg India, the world’s biggest rice exporter, is likely to lift restrictions on grain shipments in a move that would mark a further easing of a global wave of food protectionism after Russia’s invasion of Ukraine. Authorities are actively considering removing curbs on some rice exports as domestic prices are stable, according to a person familiar with the matter. ...
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