The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.
If the Pfizer-BioNTech vaccine gains regulatory approval by Christmas, we can cheer the scientists for heroic work. But it will be the distribution decisions made by governments that will determine how quickly we can all exit Covid confinement. The UK has put itself in a strong position to access early vaccines, but its approach to prioritisation and distribution needs careful ...
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November, 2020
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11 November
Ambani takes on Amazon in India’s booming online market
Bloomberg Billionaire Mukesh Ambani obliterated rivals in India’s telecommunications sector by selling $2 data plans and free voice calls. Four years later, he’s deploying a very similar tactic — cutthroat pricing — to gain an edge in the country’s increasingly competitive e-commerce space. As India hits the peak of its biggest shopping season, the festival of Diwali, the tycoon’s retail ...
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11 November
Boeing stages 30% Nov rally on 737 Max return, vaccine hope
Bloomberg Boeing Co, the biggest laggard on the Dow Jones Industrial Average this year through October, is turning the tables in November with a 30% gain. The shares are surging this month on the impending return of its 737 Max jet and promising vaccine trials from Pfizer Inc that suggest an eventual rebound in the depressed market for jetliners. Another ...
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11 November
Norwegian in crisis as state denies ‘rescue’
Bloomberg Norwegian Air Shuttle ASA risks becoming a casualty of the global aviation crisis after the state rejected a request for a second multi-billion krone rescue package. A fresh bailout wouldn’t be a good use of public funds, the government in Oslo said, leaving the discount carrier in need of help to weather the winter months as air travel remains ...
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11 November
EU tariffs on US-made jets may affect Ryanair’s Max order
Bloomberg Ryanair Holdings Plc’s long-delayed Boeing Co 737 Max deliveries face a new hurdle after the European Union opted to apply tariffs to US-made aircraft. The European bloc said it would levy 15% tariffs on US jets, alongside other goods including wheat, cheese, etc. Dublin-based Ryanair, the continent’s biggest discount carrier, has more than 135 Max 200 jets on order, ...
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11 November
American to revive flying long haul
Bloomberg American Airlines is resuming much of its short-distance service to Latin America and starting to bring back longer flights over the next few weeks, building off of its dominance in the region among US rivals. South America is the strongest part of American’s long-haul system amid the coronavirus pandemic “when, admittedly, all of it is relatively weak,†Chief Revenue ...
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11 November
Biden brushes off Trump’s effort to undermine election
Bloomberg President-elect Joe Biden shrugged off Donald Trump’s effort to challenge the election results, forging ahead with transition planning even as the president pursues a multi-state legal fight backed by Republican allies and the Justice Department. Trump’s campaign said it would file a federal lawsuit in Michigan that seeks to stop the state’s top election official from certifying Biden’s win. ...
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11 November
AU urges ceasefire as Ethiopia clashes kill 550
Bloomberg Ethiopia’s government said its forces killed at least 550 fighters loyal to the ruling party of the northern Tigray region, as the African Union called for an immediate ceasefire. Fighting is continuing in Tigray a week after federal troops began an incursion into the region in retaliation for an attack on one of its army camps in the region. ...
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11 November
Typhoon Vamco: Philippines orders evacuation of residents
Bloomberg Philippine authorities evacuated thousands of residents in eastern coastal communities ahead of a new typhoon, just weeks after Super Typhoon Goni barreled through the Southeast Asian nation. Typhoon Vamco, locally known as Ulysses, is forecast by the Philippine weather bureau to bring damaging winds and intense to torrential rains to provinces in the main Luzon island, including the capital ...
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11 November
HK opposition quits en masse to protest new China powers
Bloomberg Hong Kong’s opposition bloc resigned en masse on Wednesday after China moved to disqualify lawmakers who aren’t deemed sufficiently loyal, one of Beijing’s strongest actions yet to quash dissent in the territory. Fifteen members of the pro-democracy camp in the 70-seat Legislative Council quit following the disqualification of four members under Beijing’s new rules. The announcement was made at ...
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