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

Chinese investors have been scooping up Hong Kong tech stocks for weeks on end, lured by the market’s cheap valuation after shares saw some of the biggest plunges worldwide. Onshore investors have been net buyers of Hong-Kong listed stocks for 24 straight sessions through Nov. 8, adding HK$118 billion ($15 billion) in the longest run of gains since early 2021, ...

Adidas AG slashed its profitability forecast for the fourth time this year after ending its partnership with rapper Ye and discontinuing the lucrative Yeezy line of sneakers. The German company said it now expects an operating margin of 2.5% this year, down from a previous 4% target. The lower forecast reflects the company’s decision last month to end its collaboration ...

Italy is preparing to give ITA Airways a further cash injection, as the newly elected right-wing government reviews plans to sell the state-controlled carrier in the coming months. The finance ministry has approved a new outlay of €400 million ($400 million) to support ITA, the successor to failed flag carrier Alitalia, people familiar with the matter said. That would bring ...

Cathay Pacific Airways Ltd. named customer chief Ronald Lam as its new chief executive officer to replace Augustus Tang. Lam, 50, will take over on January 1, Cathay said in a statement on Wednesday. He faces the challenge of leading the 76-year-old carrier out of the mire caused by Covid travel restrictions, which plunged it into crisis and sparked a ...

The chief executive officer (CEO) of Latin America’s largest airline wants the carrier to take on a more socially conscious role after the Covid-19 pandemic forced it into bankruptcy and posed “existential questions” about its future. Roberto Alvo, who was named CEO of Latam Airlines Group just as the global pandemic began to unfold in early 2020, said the company ...

David Fickling The instruction manual for surviving a zombie apocalypse is pretty straightforward. Once you’ve kitted out your bunker with canned goods and firearms, get a supply of bullion. You’ll need it to buy bullets and bribe your way out of a death fight in Thunderdome. That’s a line of thinking you might associate with cranky gold bugs, but it’s ...

Jonathan Levin When it comes to communicating its outlook for monetary policy, the Federal Reserve is famous for using overly vague language that can be interpreted any number of ways. The latest example came last week in the central bank’s statement explaining its decision to again raise interest rates by 0.75 percentage point. And if you can decipher the meaning ...

Adani Ports and Special Economic Zone Ltd. has agreed to buy a 49.38% stake in liquid storage facility company Indian Oiltanking Ltd. for 10.5 billion rupees ($129 million) as its billionaire founder, Gautam Adani, seeks to bolster cargo handling operations in India. Adani group’s listed port company has also agreed to buy an additional 10% equity stake in IOT Utkal ...

SHARM EL SHEIKH / WAM  President His Highness Sheikh Mohamed bin Zayed Al Nahyan and President Abdel Fattah El Sisi of Egypt witnessed the signing of an agreement between Masdar, one of the world’s fastest-growing renewable energy companies, along with its Infinity Power joint venture with Infinity, Egypt’s main renewable energy developer, and Hassan Allam Utilities, to develop a 10-gigawatt ...

Abu Dhabi / WAM Khalifa Economic Zones Abu Dhabi – Kezad group, the integrated trade, logistics, and industrial hub of Abu Dhabi, has announced the signing of an agreement to form a joint venture between its parent company AD Ports group, and Al Fanar Gas group, part of UAE’s leading diversified conglomerate, Ethmar Holdings. The new company, “Kezad Industrial Services”, ...