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

  Bloomberg Ryanair Holdings Plc is scrubbing some flights to and from Belgium over the New Year’s weekend because of a strike by cabin crew. The airline was forced to cancel “a small number” of its 2,500 flights into and out of the country on Friday, Saturday and Sunday, Europe’s largest discount carrier said. Brussels South Charleroi airport told customers ...

  Bloomberg Solar equipment makers are in a fierce competition to cut wafer prices, providing some relief for China’s efforts to install a massive amount of renewable power and reach ambitious climate targets. Falling solar material prices have driven down costs along the supply chain in recent weeks, with silicon wafers seeing the largest discount. Top player Longi Green Energy ...

Bloomberg Shell New Energies, EDP Renewables and Engie asked regulators for a delay in the planning of a proposed joint-venture offshore wind farm, the latest potential setback to President Joe Biden’s goal of powering millions of homes from Atlantic gusts. The sharp spike in interest rates presents “significant challenges” to Mayflower Wind’s economics, the project’s lawyers said in a filing ...

  Bloomberg EQT Corp, the largest US natural gas producer, saw production drop by as much as about 30% during the recent bout of extreme cold that caused disruptions for some of its wells in the Appalachian Basin. The drillers’ daily output fell by between 1 billion and 1.5 billion cubic feet per day during the winter storm, Chief Executive ...

Bloomberg Exxon Mobil Corp is suing the European Union in a push to eliminate a new windfall tax against oil groups, arguing the bloc does not have legal authority to impose the levy. The lawsuit is a major response to the tax from the oil industry that has reaped record profits this year as western governments have sought to bring ...

  Bloomberg Germany’s RWE Supply & Trading GmBH agreed to a 15-year contract with Sempra Infrastructure to purchase liquefied natural gas from a production terminal set to open in Port Arthur, Texas, in 2027, according to both companies. With the deal, RWE said it had secured sufficient LNG volumes to make full use of its booked regasification capacities for an ...

Bloomberg Wholesale power prices surged more than 6,000% in parts of the country during the worst of the recent brutal cold snap — a sign that Americans are likely to face significantly higher winter heating costs once the bills get mailed out. Electricity prices in Houston jumped to almost $3,700 a megawatt-hour on December 23, or a 65-fold increase from ...

  Bloomberg One of Hong Kong’s top foreign business groups warned the city still faces challenges in trying to revive its reputation as a global financial hub, even after it ditched almost all of its Covid curbs. In a sweeping overhaul of policies, residents and travellers alike will find their lives a bit easier. People coming into the city won’t ...

Bloomberg The European Union’s planned carbon tax on steel is a trade barrier that India and other governments will probably oppose, according to one of the biggest exporters of the alloy in the South Asian nation. The Carbon Border Adjustment Mechanism, or CBAM, which imposes duties on certain imports from countries that don’t price carbon the way Europe does, will ...

  Bloomberg Tencent Holdings Ltd secured a green-light for another clutch of major game titles, reinforcing hopes Beijing is easing a crackdown on the world’s largest mobile gaming arena. It was only the second time the Chinese tech giant gained licenses for blockbuster titles since Beijing resumed issuing them in April. “Pokémon Unite,” developed in tandem with Nintendo Co, was ...