The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.

BLOOMBERG European natural gas prices moved higher amid a forecast for colder and calmer weather that could boost demand at a time when production outages are set to limit volumes available for refilling stockpiles. Germany is due to see unusually low temperatures this week, while a cold spell is expected in the UK next week, according to forecaster Maxar Technologies. ...

BLOOMBERG Apple Inc’s sales in India hit a new high of almost $6 billion in the year through March, highlighting the market’s increasing importance for the iPhone maker as Chief Executive Officer Tim Cook arrived in the country to open its first local stores. Revenue in India grew by nearly 50%, from $4.1 billion a year earlier, according to a ...

BLOOMBERG Volkswagen AG’s namesake brand is unveiling its first fully electric sedan, as the carmaker struggles to move past software setbacks that have hurt sales in markets from Europe to China. The spacious ID.7, which starts at less than €60,000 ($66,000), marks a key effort to compete with Tesla’s Model 3 and a range of Chinese startups. With the launch ...

BLOOMBERG Alphabet was headed for its biggest single-day decline in more than two months following a report that Samsung Electronics is considering replacing Google with Microsoft’s Bing as the default search engine on its devices. Suwon, South Korea-based Samsung, the world’s leading smartphone maker, is considering making the switch, the New York Times reported, estimating that roughly $3 billion in ...

BLOOMBERG Infosys Ltd nosedived 15%, the biggest intraday slump since October 2019, after the company’s guidance painted a negative outlook for India’s technology sector following turmoil at US and European banks. The IT services firm was hit by a wave of downgrades after saying sales growth will be just 4% to 7% this financial year because of a reduction in ...

BLOOMBERG Russian President Vladimir Putin visited troops in two occupied regions of Ukraine, according to video by the Kremlin, marking the second time in a month he’s toured territory seized in the more than year-old invasion. Putin was shown meeting officers of the Vostok National Guard in the eastern Ukrainian region of Luhansk and at the headquarters of the Dnepr ...

BLOOMBERG The Moscow City Court rejected an appeal by Wall Street Journal (WSJ) reporter Evan Gershkovich against his detention on allegations of espionage in a high-profile case that’s highlighted the growing pressure on journalists in Russia. Gershkovich, 31, appeared smiling in the glass defendant’s cage when media were allowed into the courtroom before the hearing. It was the first time ...

BLOOMBERG Bangladesh’s garment factories, a key source of foreign exchange for the South Asian nation, face the heightened risk of fires as summer temperatures soar, an industry lobby group warned. The Bangladesh Garment Manufacturers and Exporters Association, the main industry body in the world’s No 2 exporter after China, issued 11 instructions to its 4,500 members over the weekend. These ...

BLOOMBERG European Commission President Ursula von der Leyen called on the European Union to maintain a common position towards China after French President Emmanuel Macron sparked outrage by suggesting that the bloc should avoid being dragged into a dispute with Beijing by the US. Von der Leyen told lawmakers in Strasbourg, France, that the EU needs to diversify away from ...

PESHAWAR / WAM A landslide during a thunder and lightning storm on the main road through northwest Pakistan’s Khyber Pass buried more than 20 trucks, killing at least two people, with dozens more feared trapped, Reuters said. “Twenty to twenty-five containers are buried in the wreckage,” Abdul Nasir Khan, deputy commissioner of the Khyber district, told Reuters. “The wreckage is ...