The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.
ABU DHABI / WAM The Ministry of Health and Prevention (MoHAP) announced that it conducted 459,244 additional Covid-19 tests over past 24 hours, using state-of-the-art medical testing equipment. In a statement, the ministry stressed its aim to continue expanding the scope of testing nationwide to facilitate the early detection of coronavirus cases and carry out the necessary treatment. As ...
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January, 2022
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31 January
Malabar Gold & Diamonds opens 9 new showrooms
Dubai / Gulf Time Malabar Gold & Diamonds, one of the largest jewellery retailers globally with a strong retail network of over 280 outlets spread across 10 countries, inaugurated nine new showrooms across UAE and India. Amongst the six showrooms opened in the UAE, 3 are in the new Dubai Gold Souq extension project, 1 each in City Centre ...
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31 January
NTPC profit up 25% as demand for electricity soars in India
Bloomberg NTPC Ltd, India’s largest power producer, posted a 25% jump in quarterly profit as demand for electricity soared in one of the world’s fastest-growing economies. Profits increased to 41.3 billion rupees ($551 million) in the three months through December, compared with 33.2 billion rupees a year ago, the state-run company said in a stock-exchange filing. Profits surpassed an ...
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31 January
UK’s Octopus Energy faces $134m hit
Bloomberg Octopus Energy Ltd. warned record energy prices will result in a 100 million-pound ($134 million) hit to the UK power supplier’s bottom line this financial year, according to a Financial Times report. Soaring wholesale electricity and gas prices have put 25 U.K. utilities out of business in the last six months. A regulatory cap on the amounts suppliers ...
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31 January
Draghi is not Italy’s president and that’s really a good thing
Mario Draghi remains Italy’s prime minister. The country’s parliamentarians — in a secretive, conclave-like vote — decided against making him president, instead backing a second term for outgoing head of state Sergio Mattarella. While it may be a personal blow for Draghi, who was known to hanker after the role even if he did not openly campaign for the ...
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31 January
A weaker ruble isn’t going to stop Putin
As speculation about war with Ukraine fills the news, it’s hardly surprising that the Russian ruble is once again heading to its weakest level against the US dollar — one last seen in 2020 — having depreciated over 5% this month. Ever tougher sanctions from the West have been threatened repeatedly, which would make already-restricted trade and capital movements even ...
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31 January
What the pandemic has revealed about US, China
Authoritarian regimes tend to boast about themselves and denigrate their rivals. President Xi Jinping’s China is no exception. “As the Covid-19 epidemic takes away hundreds of lives every day in the US,†wrote Hu Xijin, the former editor in chief of the Global Times, on January 14, “that country’s propaganda machinery is engaging in vicious smears against China’s dynamic ...
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31 January
How to win more global warming lawsuits
The fight against global warming is rapidly moving into the courtrooms. In the past few years, in landmark cases in the Netherlands, Germany and France, courts have agreed that state and corporate entities have a duty to reduce greenhouse gas emissions, and demanded they adopt more aggressive policies. A Dutch court, for example, ordered the government to reduce emissions ...
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31 January
Airlines anxiously await road warrior return to office and air
Bloomberg Two years into the pandemic and the airline industry remains on standby for the return of business travelers. Expectations that expense account-wielding road warriors would follow on the heels of leisure travelers have yet to materialize, and the outlook remains hazy with the spread of the latest coronavirus variant. That’s kept carriers’ profits in check and raised questions ...
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31 January
N Korea fires biggest missile since 2017 as it tests Biden
Bloomberg North Korea appeared to have fired one of its biggest ballistic missiles in almost five years, adding to its largest series of tests since Kim Jong-un took power as he forces his nuclear arsenal back onto the Biden administration’s agenda. North Korea launched a suspected intermediate range missile for the first time since 2017, according to initial assessments ...
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