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

Bloomberg Global investors who put their faith in three of Southeast Asia’s high-profile tech startups are facing a grim reality that’s seen the firms lose $51 billion in value in the past year-and-a-half since their equity debuts. Singapore-based ride-hailing firm Grab Holdings Ltd., which listed in New York about a year ago, has shed over 70% of its market value. ...

Bloomberg This week’s US inflation print and Federal Reserve decision might be at the forefront of most investors’ minds, but for some of Wall Street’s most prominent strategists it’s the prospect of future profit downgrades that’s the biggest worry for stocks. According to notes from Morgan Stanley’s Michael Wilson and Goldman Sachs Group’s David Kostin, earnings could contract more than ...

Riyadh / WAM Saudi Arabia’s real gross domestic product (GDP) grew by 8.8 percent in the third quarter of 2022 compared to the same period last year driven by an increase in oil activities, according to a report released by the General Authority for Statistics (Gastat). Gastat noted that the real GDP growth in the third quarter was up 2.1 ...

  Geneva / WAM Some 20 million jobs could be created by investing in policies that support nature and address climate change, disaster risk, food insecurity, and other major challenges, according to a UN report Launched by the International Labour Organization (ILO), UN Environment Programme (UNEP) and International Union for Conservation of Nature at the UN’s Biodiversity Conference (COP15) in ...

  Bloomberg Tata group-owned Air India Ltd. is close to signing a deal with Boeing Co to buy up to 150 737 Max planes, marking the first major aircraft order after the carrier’s privatisation, the Economic Times reported, citing people it did not identify. Air India is likely to place a firm order for 50 737 Max jets with an ...

  Bloomberg Albertsons Cos was ordered by a Seattle-area judge to keep its $4 billion special dividend on hold until December 19 while Washington’s attorney general asks the state supreme court to halt the payment during a regulatory review of the grocery chain’s pending merger with Kroger Co. The last-ditch appeal to block the dividend in Washington comes as other ...

  Bloomberg Tata Group-owned Air India Ltd is close to signing a deal with Boeing Co to buy up to 150 737 Max planes, marking the first major aircraft order after the carrier’s privatisation, the Economic Times reported, citing people it did not identify. Air India is likely to place a firm order for 50 737 Max jets with an ...

  Bloomberg Airbus Chief Executive Officer Guillaume Faury warned that European aerospace suppliers are starting to move to the US to escape surging energy costs and urged governments to provide tax breaks to halt the flow. Some German companies, for example in the chemicals sector, have already decided to relocate, while in France there’s more of a “wait and see” ...

  Bloomberg American Airlines Group Inc and JetBlue Airways Corp plan to expand domestic and short-haul international flying next year under a partnership that US antitrust officials are seeking to dissolve. The expansion to 10 new cities, if it goes through as planned, will bring the carriers’ Northeast Alliance to 500 daily departures across New York’s three major airports, and ...

  Bloomberg Thailand reached its target of welcoming 10 million foreign visitors this year, signalling a better-than-expected recovery of its vital tourism sector that was nearly decimated by the Covid-19 pandemic. The government held events across Thailand, with cultural shows at seven airports and two border checkpoints to celebrate reaching the goal before the end of the year. Officials handed ...