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

  ABU DHABI / WAM Emirates Global Aluminium (EGA) announced it has reached the milestone of 40 million tonnes of hot metal produced since its start-up in 1979. This means almost three percent of all the aluminium ever made has been produced by EGA in the UAE. Aluminium is an essential material for human progress, and EGA’s metal is used ...

  ABU DHABI / WAM Etihad Airways, the UAE national airline, and Garuda Indonesia, the national flag carrier of Indonesia, announced they are strengthening their partnership between Abu Dhabi and Jakarta and beyond their respective hubs. The scope of the partners’ codeshare agreement, first signed in 2012, will be significantly expanded to nearly double the number of combined destinations Etihad ...

The Group of 20 countries meet in Bali against the backdrop of heightened tension between the world’s great powers, nuclear threats and a looming global recession. With his military campaign in Ukraine faltering, Russia’s Vladimir Putin will be absent. A joint statement is unlikely, a significant breakthrough to solve concurrent crises in energy, climate and food would be a miracle. ...

  TikTok is a happy place. From cute kitties to lip-syncing stars, the Chinese short-video service is a place where people go to entertain and to be delighted. Unlike Twitter and Facebook, the site is abjectly apolitical. Yet, politicians increasingly find it quite objectionable. This is not dichotomous. What makes TikTok so harmonious is also the very thing that attracts ...

  At the heart of banking regulation sits a tradeoff between competition and financial stability. Competition allows consumers access to better prices and better products. But it can also encourage banks to do wayward things, often at the expense of soundness. Faced with the choice, regulators typically come down on the side of safety. Regulators in Ireland have adopted this ...

  Collapsed cryptocurrency exchange FTX was a magnet for the so-called smart money. Backers included the biggest names in finance and venture capital, from BlackRock Inc. to SoftBank Group Corp. to pension funds. Even after this summer’s crypto crash, Ontario Teachers Pension Plan described its investment in the firm as “lowest-risk” — because it was the venue where “everybody else” ...

  Bloomberg Cathay Pacific Airways Ltd closed its last overseas outpost, bringing some US-based pilots back to Hong Kong as the airline trims expenses after being hit hard by the pandemic. Cathay’s US pilot bases shut on October 31 and some crew will relocate to Hong Kong in the coming weeks, according to an internal memo seen by Bloomberg News. ...

  Bloomberg Asda reported a rebound in sales after two straight quarters of declines as the grocer focused on keeping prices low in a bid to win cash-strapped shoppers. Britain’s third-largest supermarket chain said sales grew 4.7% in the third quarter as the grocer’s Just Essentials budget range helped attract 400,000 new customers from rival supermarkets. The average UK household ...

  Bloomberg The investigations into Florian Fritsch, one of the two executives seeking to get bankrupt Jet Airways India Ltd. back in the air through a bankruptcy process, will not affect the rescue plan for the airline, according to his firm. “These investigations have no impact on the acquisition of Jet Airways,” Kalrock Capital Partners, Fritsch’s investment company said in ...

  Bloomberg Thai Airways International PCL is bringing back almost half a dozen aircraft originally put up for sale in an effort to revive flights more quickly amid buoyant demand. The global air travel recovery from Covid has put a squeeze on newer planes that are available on the open market, Chairman Piyasvasti Amranand said in an interview at the ...