The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.
Dubai / WAM The General Department of Airports Security at Dubai Police, in cooperation with partners, successfully secured 29,110,609 passengers travelling and transiting through the Dubai International Airport (DXB) in 2021. ÙThe Department also secured 2,524,918 tonnes of air cargo over the same period. These numbers were revealed during the annual inspection of the General Department of Airports Security, ...
Read More »TimeLine Layout
October, 2022
-
10 October
Dewa launches DEWAVerse platform on metaverse
Dubai / WAM Dubai Electricity and Water Authority (Dewa) has launched its ‘DEWAVerse’ platform on the Metaverse and became the first local government organisation to launch its platform on the Metaverse to provide its services to customers, employees, and members of the society. Dewa invests in Metaverse technology to implement and develop its current and future projects, which contributes towards ...
Read More » -
10 October
Credit Suisse is in a tight spot but not on the brink
Credit Suisse Group AG is in a tight spot, but it isn’t “on the brink,†as the fevered typists of social media imagined over the weekend. The Swiss bank, however, is going through its darkest hours at exactly the worst time, when markets are volatile and everyone is nervous about what’s around the corner. Disappointment is still more likely ...
Read More » -
10 October
Is plant-based meat trend on decline?
The world’s largest beef producer joined a chorus of Cassandras this week signaling the end of alternative meats. Meat giant JBS SA killed its Planterra business in the US and shut down a 190,000 square-foot Colorado facility producing plant-based products. Yet the closure was gravely shortsighted. It reflects a crisis of confidence at a time when investors should be ...
Read More » -
10 October
Investors place too much trust in flattering numbers
What’s a profit? A recent ill-tempered television appearance by the co-founder of home-flipper Opendoor Technologies Inc., Keith Rabois, showed just how far we have drifted from a common understanding of earnings. Rabois, a Miami venture capitalist, was irritated by his interlocutor’s (not unreasonable) suggestion that Opendoor is loss-making. Net losses total $1.7 billion since inception, according to the latest ...
Read More » -
10 October
Why UK pension funds are this much exciting
Pension funds are supposed to be among the least exciting financial institutions. Their job is to make long-term investments to meet the predictable needs of future retirees. They should be immune to short-term shocks. Yet last week in the UK, they were the center of an incipient financial crisis. What led to this was a novel variation on a ...
Read More » -
10 October
Cathay Pacific needs another 1,000 flight attendants by ’23
Bloomberg Just over 1,000 people have signed up for Cathay Pacific Airways Ltd.’s flight attendant recruiting drive, around half of the 2,000 targeted by the end of 2023, underscoring the labour challenges the airline faces as it seeks to fully restore flights in and out of the Asian financial hub. Cathay said it was satisfied with the expressions of ...
Read More » -
10 October
Levi cuts 2022 profit forecast on softening demand, strong dollar
Bloomberg Levi Strauss & Co reported quarterly revenue that fell short of expectations, and the denim maker also reduced its outlook for the full year, citing economic uncertainty along with supply-chain disruptions and a stronger US dollar. Revenue in the fiscal third quarter ended August 28 was $1.52 billion, below the $1.6 billion average estimate of analysts surveyed by ...
Read More » -
10 October
F-35 deliveries to resume after Chinese alloy prompted halt
Bloomberg Deliveries of Lockheed Martin Corp.’s F-35 will resume after the Pentagon’s acquisitions chief issued a “national security†waiver from a ban on a Chinese alloy used in a component on the fighter jet. The component — a magnet in a device supplied by Honeywell International Inc. — has been used in the plane since 2003. After the Chinese ...
Read More » -
10 October
United plans to resume Hong Kong flights from January
Bloomberg United Airlines Holdings Inc. is planning to restart Hong Kong flights as soon as January, according to people familiar to the matter, becoming one of a handful of major airlines to resume passenger flights to the city, which has largely been cut off to the outside world since the start of the pandemic. The Chicago-based carrier is evaluating ...
Read More »