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

  Bloomberg Thai Airways International Pcl is in talks with planemakers to add some 20 twin-aisle passenger jets, according to people familiar with the matter, as the beleaguered carrier seeks to refresh its fleet amid a travel rebound in Southeast Asia. Thai Airways held advanced discussions with Boeing Co recently about purchasing its 787-9 wide-body passenger jets, the people said, ...

  Bloomberg Sears Hometown Stores Inc filed for bankruptcy, court papers show. The retailer listed assets of no more than $50 million and liabilities of at least $50 million in its bankruptcy court petition, filed in Delaware. Chapter 11 bankruptcy allows companies to continue operating while working on a plan to repay creditors. Sears Hometown is a branch of the ...

  Bloomberg China’s rapid unwinding of Covid Zero restrictions has spurred a sharp recovery in the world’s biggest domestic air-travel market, throwing a lifeline to the nation’s ‘Big Three’ airlines, which have racked up billions of dollars of losses since the start of the pandemic. Domestic flight activity jumped to around 65% of pre-pandemic levels, according to Chinese aviation data ...

  Bloomberg France and Spain said they will move ahead with a 2.5 billion euro ($2.6 billion) hydrogen pipeline, easing past tensions over an alternative link as they seek to boost their status as European energy suppliers. The project will connect Portugal and Spain with France to transport about 10% of the bloc’s green hydrogen demand by 2030. French President ...

  Bloomberg The Bank of England (BOE) has recommended the UK take swift regulatory action to strengthen the pensions market after recent bond market turmoil exposed shortcomings in its oversight. The central bank’s Financial Policy Committee said the pensions regulator and Financial Conduct Authority (FCA) should work with overseas regulators to ensure liability-driven investment (LDI) funds are more resilient to ...

  Bloomberg Goldman Sachs Group Inc aims to cut at least a few hundred more jobs as the Wall Street titan restructures its struggling consumer business and braces for an uncertain economy in the year ahead. The bank is drafting plans that could eliminate at least 400 positions from its loss-making retail banking operations, according to people familiar with the ...

  Bloomberg A sharp increase in China’s Covid infections following an abrupt end to strict pandemic control measures suggests investors may need to pare back on reopening trades, according to Morgan Stanley. “We would recommend that investors put on hedges in the markets where investors are almost fully pricing in reopening trades,” strategists including Min Dai and Gek Teng Khoo ...

  Bloomberg Shopify Inc.’s 70 percent plunge has almost single-handedly dragged the Canadian stock market into the red this year, taking the shine off what would otherwise be one of the world’s top-performing major equity benchmarks. The e-commerce software provider has lost C$161 billion ($118 billion) in market value in 2022, causing a 978-point drag on the S&P/TSX Composite Index. ...

  Bloomberg US index futures and European equities rise amid forecasts inflation in the world’s largest economy will post the lowest figure this year, warranting a less hawkish Federal Reserve. Contracts on the S&P 500 and Nasdaq 100 advanced at least 0.1% each after the underlying indexes climbed on December 12 by the most in December. The Stoxx 600 gauge ...

  Bloomberg Over 370,000 UK homes could be “at risk” from toxic pollution near airports which the government underestimated by 14,000 times, according to a University of Kent study. The research suggests small piston-powered private planes which typically run on leaded fuel are one of the UK’s single largest sources of lead pollution, amounting to 11% of the total since ...