The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.
Bloomberg The top American naval commander in Asia criticized what he said were unsafe and provocative actions by Chinese warplanes, reiterating US complaints about behavior that officials argue could prompt a clash. Vice Admiral Karl Thomas, commander of the US Navy’s Japan-based Seventh Fleet, expressed concern Tuesday about increasingly assertive efforts by the People’s Liberation Army to intercept US and ...
Read More »TimeLine Layout
August, 2022
-
16 August
US, Japan, South Korea conduct joint drills to defend against missiles
Bloomberg The US and its two top Asian allies announced they had conducted a joint missile defense exercise off Hawaii, raising the profile of exercises that show their willingness to work together in the face of threats posed by North Korea and China. The anti-missile drill took place Aug. 8-14 at the same time as the multinational Pacific Dragon ...
Read More » -
16 August
Odinga rejects Kenya election outcome
Bloomberg Former Kenyan Prime Minister Raila Odinga, who lost the August 9 presidential elections by a tiny margin, rejected the outcome of the vote and vowed to take constitutional steps to challenge it. Odinga, 77, who was making his fifth run at the presidency and secured 48.9% of the vote to Deputy President William Ruto’s 50.5%, said the head of ...
Read More » -
16 August
Estonia removes WWII monuments to prevent Russian meddling
Bloomberg Estonian authorities removed a Soviet-era monuments including a T-34 tank after Prime Minister Kaja Kallas said Russia was using them to foment hostility in the Baltic country. Kallas said Tuesday that Soviet monuments had been brought back into the public eye as a reminder of Russian aggression that “opened up old wounds†after the invasion of Ukraine. The ...
Read More » -
16 August
New York manufacturing falls by second-most in data to 2001
Bloomberg A gauge of New York state manufacturing activity plunged by the second-most in data back to 2001, with sharp declines in orders and shipments that indicate an abrupt downturn in demand. The Federal Reserve Bank of New York’s August general business conditions index slumped more than 42 points to minus 31.3, with the drop just behind that seen ...
Read More » -
16 August
UK worker shortage leaves $72.60mn of food to rot in fields
Bloomberg Tens of millions of pounds worth of fresh produce is being left to rot in UK fields because farmers can’t attract enough workers to pick crops, just as the cost-of-living crisis worsens. About 22 million pounds ($27 million) of fruit and vegetables were wasted in the first half of the year due to labour shortages, according to a ...
Read More » -
16 August
Denmark shows unexpected strength to avoid recession
Bloomberg Denmark’s economy grew faster than expected in the second quarter as a strong labour market helped the Nordic country avoid a recession. Gross domestic product probably expanded 0.7% from the first three months of the year, according to an indicator published by Statistics Denmark. GDP contracted 0.5% in the first quarter of 2022. The data paints a better ...
Read More » -
16 August
Irish trade with Britain, Northern Ireland climbs
Bloomberg Trade between Ireland and both Northern Ireland and the rest of the UK continued to increase in the first half of 2022, despite an ongoing row over checks on goods as a result of the UK’s Brexit departure from the EU. Imports to Ireland from Great Britain from January to June grew 54% from the same period a ...
Read More » -
16 August
Rhine River set to stay low at key waypoint
Bloomberg The water level at a key waypoint on the Rhine River is forecast to stay extremely low for the rest of the week, signalling the continuation of severe restrictions for shipments of vital commodities along the Europe’s most important waterway. The marker at Kaub, a shallow point on the river west of Frankfurt, is currently at 31 centimeters ...
Read More » -
16 August
US index futures fall, dollar up amid caution over economy
Bloomberg US stock-index futures slipped and the dollar rises as investors fretted over signs of a sharp economic slowdown even as the Federal Reserve stays on the path of monetary tightening. September contracts on the S&P 500 and Nasdaq 100 indexes dropped 0.2% each after the equity benchmarks advanced. Crude oil retreated amid economic headwinds that clouded the demand ...
Read More »