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 The United Arab Emirates welcomed a US initiative to establish a fund to meet the needs of the Afghan people and contribute to strengthening economic stability in the country. The Ministry of Foreign Affairs and International Cooperation (MoFAIC) stated that the UAE welcomes the announcement by the United States and a number of international partners ...

So far, economic sanctions on Russia have done nothing to halt Vladimir Putin’s war on Ukraine. The ruble is still strong. Oil prices are high. Before Ukraine’s latest advances on the battlefield, polls showed that 75% of Russians still supported the war (in public at any rate). So why continue with sanctions? Economic boycotts, of course, are one way for ...

The idea of a blockchain is that you want to do bank transfers without a bank. You want people to be able to do transactions, and have them confirmed, and have there be some canonical agreed list of the transactions, but you don’t want to trust some central party to do it. At a high level, the blockchain solution is ...

  Alipay and WeChat Pay’s dominance of China’s retail payments was scripted over the past decade on the back of the humble quick recognition code. The same dotted squares could now start to undermine their moat. Fan Yifei, a deputy governor of the People’s Bank of China, said at a recent forum on digital finance that it was necessary to ...

  It took scientists 30 years to create the first malaria vaccine, approved by the World Health Organization (WHO) in 2021. A second, even better one is now almost ready to be deployed against the disease. Governments and philanthropies should be stepping up their funding to global health partners so they can build on that momentum in the battle against ...

Bloomberg California sued Amazon.com Inc, saying the company forces third-party merchants to agree to policies that lead to “artificially high prices” for consumers. State Attorney General Rob Bonta announced the antitrust suit challenging Amazon merchant agreements that bar sellers from offering lower prices on other sites and impose stiff penalties if they do. He said the agreements block competition from ...

  Bloomberg Hennes & Mauritz AB sales declined more than expected over the summer as the Swedish retailer fell further behind rival Zara amid a growing cost-of-living crisis across Europe. Revenue dropped 4% excluding currency shifts in the three months through August, the Swedish retailer said. Analysts had expected a decline of 1.4%. That’s the first retreat in six quarters. ...

Bloomberg Flights from London Heathrow airport will be disrupted during the transfer of Queen Elizabeth II’s coffin for her lying-in-state, with more upheaval likely next week when her funeral takes place. Departures face delays and adjustments for almost two hours from September 14, Heathrow said. The measures are aimed at ensuring an absence of jet-engine noise as a gun carriage ...

Bloomberg Deloitte expects retailers will see slower volume gains this holiday season, from November through January, as a result of the US economic slowdown. “Retail sales are likely to be further affected by declining demand for durable consumer goods, which had been the centerpiece of pandemic spending,” Daniel Bachman, Deloitte’s US economic forecaster, said in a statement. “However, we anticipate ...

  Bloomberg More than a hundred passengers were evacuated from a Boeing Co 737-800 operated by Air India Express Ltd after one of its engines caught fire while the aircraft was taxiing to take off from Muscat, the capital of Oman. Everyone got off the plane safely and the jet was left parked on the airport runway, according to Arun ...