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

  Bloomberg Airbus SE is exploring the next level of cockpit automation, testing a system that would provide advanced assistance from alerts on the ground to emergency diversions at cruising altitude should the crew be incapacitated. The technology, called DragonFly, is designed to let planes perform an automated landing even in difficult weather conditions or low visibility while communicating with ...

  Bloomberg Airlines in the Asia Pacific region flew 13.4 million passengers internationally in November, compared with just 1.8 million in the same month a year earlier, according to preliminary data from their trade association. Revenue passenger kilometers, which measures demand, surged nearly 500%, far ahead of the 187% growth in seat capacity. That resulted in a 40 percentage point ...

  Bloomberg Two of Britain’s best-known retailers celebrated strong sales in the run-up to Christmas but warned that stubborn inflationary pressures are still darkening the outlook. Marks & Spencer Group Plc’s high-end grocery business enjoyed its best ever market share for the festive period as shoppers indulged in festive treats despite the worst cost-of-living crisis in a generation. Meanwhile Tesco ...

  Bloomberg Hong Kong Airlines Ltd said it expects to return to 75% of pre-pandemic capacity by the end of this year and 100% by mid-2024, after increasing operations to 30% this month. The carrier, which had a $6.3 billion debt restructuring plan approved by courts in December, is also raising basic pay by 8% and lifting flying hourly rates ...

  Bloomberg A leading Chinese solar panel maker has leased space for its first US factory in another win for the Biden administration’s efforts to build up the nation’s clean energy manufacturing base. JA Solar Technology Co. will build a $60 million panel plant in Phoenix with plans to be operational by the fourth quarter of this year, the company ...

Bloomberg Europe’s energy crisis upended power trading last year, driving Sweden to become the region’s top exporter after extensive outages in France’s nuclear reactor fleet. Sweden sent 33 terawatt-hours to other nations in 2022, making it the No. 1 exporter for the first time, according to Entso-E data analyzed by Rystad Energy AS. The UK flipped to being a net ...

  Bloomberg K power firm Drax Group Plc agreed to pay a £6.1 million ($7.5 million) fine for breaching its license, after charging the grid operator excessive prices to reduce its generation. The penalty comes as regulator Ofgem reviews the rules for Britain’s balancing market, where the grid fine-tunes electricity supply and demand. Ofgem is looking to reduce record balancing ...

Bloomberg Eskom Holdings SOC Ltd., South Africa’s indebted power utility, failed to get approval from the nation’s energy regulator to increase tariffs by about a third, an amount it said was needed to help limit worsening electricity outages. The utility applied for a price increase of 32% for the 2024 financial year to pay for more purchases from independent producers ...

  Bloomberg Nigeria LNG Ltd. cancelled several liquefied natural gas shipments after vandalism on pipelines from gas fields disrupted production, according to people with direct knowledge of the matter. The company declared an additional force majeure on LNG cargoes for export, and cancelled loading of at least two scheduled for January delivery from the Bonny Island facility, according to two ...

  Bloomberg Exxon Mobil Corp will sell its controlling stake in Esso (Thailand) Pcl, which runs a local refinery and retailing business, to rival Bangchak Corp. as the largest US oil company focuses on its home market and the production of lower-emission fuels. Bangchak will acquire 66%, or 2.28 billion shares, of Esso at a price to be determined later, ...