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

  Bloomberg Private investment firm Starwood Capital Group and an affiliate of developer Related Companies have teamed up to start a venture that will sell clean energy products to big real estate owners. Radial Power will install solar panels, battery storage and electric vehicle charging stations to help large property owners hit their climate and clean energy goals, according to …

  Bloomberg India plans to expand its coal power fleet by about a quarter through the end of the decade as it continues to lean on the fuel to meet growing demand until energy storage costs fall. The world’s third-biggest emitter of greenhouse gases will add nearly 56 gigawatts of coal power capacity unless there’s a substantial drop in the …

  Bloomberg The UK expects to raise more than £28 billion ($30.9 billion) in the coming years from a windfall tax on oil and gas firms. The revenue will go toward offsetting the huge costs of subsidizing energy bills amid a cost-of-living crisis driven by soaring gas and power prices. The forecast was released as part of Chancellor of the …

Bloomberg The UK government will relax planning rules for onshore wind to allow projects to be deployed more easily, marking a significant policy shift. Britain vowed to speed up the planning process for energy infrastructure including offshore wind farms and new oil and gas fields in Chancellor Kwasi Kwarteng’s mini-budget. Onshore wind was effectively banned in 2016, but developers were …

  Bloomberg Travellers looking to leave Hong Kong after two-and-a-half years of Covid isolation face the prospect of paying sky-high airfares after the government said it will scrap hotel quarantine on September 26. Weeks after Cathay Pacific Airways Ltd, bruised by the city’s strict pandemic strategy, pleaded publicly for a roadmap to exit Covid, the Asian financial hub’s about-turn on …

  Bloomberg Boeing Co agreed to pay $200 million to settle Securities and Exchange Commission (SEC) allegations that the company and its former CEO Dennis Muilenburg failed to disclose safety issues with its 737 Max jetliner, resolving one of the final US investigations related to two crashes that killed 346 people. The settlement, announced by the SEC, concludes a probe …

Bloomberg Online furniture store Made.com Group Plc put itself up for sale after the cost-of-living crisis and supply-chain snarls severely disrupted a business that boomed during Covid-19 lockdowns. The UK company kicked off a strategic review, saying it hasn’t received any formal offers. Made.com said it’s considering debt financing, taking on a business partner or a complete sale or merger. …

  Ras Al Khaimah / Gulf Time IndiGo, India’s leading carrier, has commenced new daily direct flights between Mumbai and Ras Al Khaimah. Ras Al Khaimah is the 100th overall destination and 11th in Middle East in 6E network. Ras Al Khaimah was also named as Gulf Tourism Capital for the year 2020 and 2021 by Gulf Cooperation Council. The …

  Bloomberg Global bond yields surged and stocks extended declines at the end of a week that underscored expectations for tighter monetary policy and a slowing economy. A dollar gauge rose to yet another record and 10-year Treasury yields to the highest in more than a decade, while UK bonds plunged and the pound fell as markets priced in a …

Bloomberg Cryptocurrencies outperformed US equities for a change, with Bitcoin and Ether gaining for the first time in five days. Bitcoin, the largest virtual currency by market value, rose about 2% to $19,2912 in New York. Earlier, it slid as much as 4% toward a three-month low. Ether rose about 1.5%. It had dropped as much as 20% since a …