The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.
When war is raging in Ukraine, talk of reconstruction may seem premature. How can the country rebuild anything given the constant threat of attack? And yet, it’s right that governments and multilateral fore, along with Ukraine itself, are focusing on rebuilding. Although the first principle of help for Ukraine has to be military aid along with humanitarian support, it is ...
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June, 2022
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11 June
Ambani’s $6.3b prescription for Boots
Private equity firm Apollo Global Management Inc and Indian billionaire Mukesh Ambani’s Reliance Industries Ltd have made a binding offer for chemist chain Boots. If it can close a deal, the consortium has a good chance of making a decent return on the British high-street stalwart. But the remedy for Boots won’t be cheap or easy. The formal proposal, fully ...
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11 June
It’s time to get biofuels out of your gas tank
The global trade in the cheapest foods is grinding to a halt. In April, Indonesia temporarily banned exports of palm oil, cutting off India from one of its biggest sources of imported nutrition. India, in its turn last month, set a ceiling on exports of sugar, helping to keep more calories in the domestic market. Sugar is now hovering ...
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11 June
China’s big problem that Xi Jinping can’t solve
The most significant event in China was the gaokao — the annual two-day national exam to qualify for college. Anxious parents wait while their children go through the nine-hour ordeal. Those with younger kids sift through the test questions — published once the exams are over — preparing their offspring for the inevitable. As for couples considering starting a ...
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11 June
Finnair shifts its focus with Russian airspace shut off
Bloomberg Finnair Oyj, the hardest-hit among European airlines from the closing of Russian airspace, is planning an overhaul of its strategy that would see a smaller operation pivoting westward. “As a first step, the first response when we are reviewing our strategy on the back of the Russian airspace closure, we have pivoted our network to the west, and ...
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11 June
Lufthansa cancels summer flights due to staff shortages
Bloomberg Deutsche Lufthansa AG cancelled hundreds of summer flights due to staff shortages, underscoring the challenges facing European aviation as the industry fights to recover from the coronavirus crisis. Germany’s flagship airline scrapped about 900 domestic and European short haul trips for July, including those at its namesake and Eurowings budget brands, a spokesman said. The canceled flights, which were ...
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11 June
Garuda Indonesia plans to tackle liabilities with $800m of new debt
Bloomberg PT Garuda Indonesia plans to issue $800 million of new debt as part of a plan to address its liabilities, as the embattled carrier seeks to reverse its fortunes after the pandemic. The airline would also raise $330 million by issuing new equity, according to a restructuring proposal made in a Jakarta court. The carrier also suggested modifying ...
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11 June
Cleaning up airline travel seems to be really expensive
Bloomberg We’re probably going to have to fly less. And when we do board a plane, it’s going to cost more — a lot more, one way or another. Those are the conclusions of a new report by the nonprofit International Council on Clean Transportation, which analysed how the airline industry could cut emissions in line with global climate goals. ...
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11 June
British Airways’ South African operator poised to be liquidated
Bloomberg Comair, the South African partner of British Airways and owner of low-cost carrier Kulula, is on the brink of collapse after administrators were unable to raise the funds needed to resume flying. The operator of about 40% of domestic air trips in South Africa has been battling with high fuel prices, the aftermath of coronavirus travel bans and ...
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11 June
Paris airport scraps flights amid strike
Bloomberg A quarter of flights were cancelled and two runways shut by a strike at Paris-Charles de Gaulle airport, the latest upheaval to hit the European transport industry struggling to meet higher demand for travel. The walkout by a broad range of employees at the French capital’s international hub is also expected to cause delays for passengers whose flights ...
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