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

  Bloomberg After three long years, checkpoints at the border separating Hong Kong from mainland China are set to reopen from Sunday in a move that’s seen as having a muted impact on the city initially. Businesses in the city face a number of challenges, which partly stem from the lengthy closure. Wealthy mainland Chinese took their business to Singapore, ...

  Bloomberg China may impose a nationwide cap on real estate commissions to boost demand in the flagging property market and regulate brokerage fee collection, according to people familiar with the situation. Authorities are considering a range of 2% to 2.5% of the sale price as a guide, one of the people said, asking not to be identified discussing a ...

Bloomberg Tesla Inc shares are poised to extend their slump after the carmaker made another round of price cuts in China’s increasingly competitive electric vehicle (EV) market. The starting price for Tesla’s locally built Model Y sport utility vehicle has dropped to a new low of 259,900 yuan ($37,875) from 288,900 yuan, according to the company’s China website. That standard-range, ...

Bloomberg The US and Germany will send armoured vehicles and an additional Patriot air defense system to Ukraine, a significant upgrade in firepower urgently sought by President Volodymyr Zelenskiy in the fight against Russia’s invasion. The US will provide its Bradley Fighting Vehicles while Germany is sending its Marder vehicles, the leaders said in a joint statement. Germany also will ...

Bloomberg Donald Trump is being blamed for the death of Capitol Police Officer Brian Sicknick, who was assaulted during the January 6, 2021, riot, in a lawsuit that claims the former president is responsible because he riled up his supporters with false election claims and calls to take action. That “cost” Sicknick his life, Sandra Garza, Sicknick’s former girlfriend and ...

Bloomberg Russian President Vladimir Putin ordered his forces to cease fighting in Ukraine for 36 hours starting from Friday at noon, Moscow time, but Kyiv quickly dismissed the move as a ploy, unlikely to slow a conflict that’s heading for its second year. The Kremlin said Putin gave the order for Russian Orthodox Christmas. It follows an appeal by the ...

  Bloomberg The Taliban-led administration in Afghanistan signed its first international contract to extract oil from the northern Amu Darya basin as the beleaguered group seeks to increase revenue. The agreement with a subsidiary of China National Petroleum Corporation (CNPC), was inked in Kabul in the presence of Chinese Ambassador to Afghanistan, Wang Yu, and the Taliban’s Deputy Prime Minister ...

Bloomberg The second anniversary of the January 6, 2021, insurrection at the US Capitol arrives with the building again in turmoil, this time as House Republicans quarrel over a speaker to lead the chamber. The chaos unfolding on the House floor threatens to tarnish the new GOP majority, which voters put back in power less than two years after a ...

  Bloomberg Salesforce Inc division Tableau was hit harder than other units in the company’s largest-ever round of jobs cuts, adding to a major reorganisation that signals the $15.7 billion acquisition hasn’t lived up to expectations. Chief Executive Officer Mark Nelson was ousted from the data analytics division in late December and more senior staff were axed as part of ...

Bloomberg Germany’s biggest services union kicked off wage negotiations with Deutsche Post AG pushing for 15% higher pay for about 160,000 postal workers, a demand the company has turned down as “unrealistic.” The Verdi union reiterated the stipulations first put forward in November before the collective bargaining talks got under way, including a €200 a month bump-up for trainees. The ...