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

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 …

  ABU DHABI / WAM Worldwide employment in renewable energy reached 12.7 million last year, a jump of 700,000 new jobs in one year, despite the lingering effects of Covid-19 and the growing energy crisis, according to the “Renewable Energy and Jobs: Annual Review 2022” report. The report identifies domestic market size as a major factor influencing employment generation in …

  SHARJAH / WAM Dana Gas on Thursday announced that its Board of Directors has approved an interim dividend payment to shareholders for the first six months of 2022 of 4.5 fils per share, equivalent to AED315 million, for distribution by the 21st of October 2022. Hamid Jafar, Chairman of the Board, commented, “Today’s interim dividend announcement reflects our ongoing …

  ABU DHABI / WAM The central banks of Saudi Arabia, Kuwait, Qatar, and Bahrain have decided to raise their interest rates, tracking a hike in the US Fed’s benchmark rate. The move came as the US Federal Reserve raised its benchmark interest rate by three-quarters of a percentage point to a range of 3.00%-3.25% on Wednesday- the biggest increase …

Bloomberg United Airlines Holdings Inc faces potential disruption in one of its most lucrative overseas markets as 300 workers at London’s Heathrow airport begin voting in a strike ballot over pay. The poll of staff employed in operations, customer services and baggage handling will run until October 11, the Unite union said in a statement. United’s UK employees are in …

  Bloomberg Airbus SE won a $4.85 billion deal to supply 40 airliners to a unit of China Southern Airlines Co, cementing its position in one of the world’s biggest aviation markets at the expense of chief rival Boeing Co. Xiamen Air, which has been an all-Boeing operator, agreed to buy Airbus’s A320neo narrow-body jets, according to a stock exchange …

  Bloomberg Taiwan may scrap its three-day quarantine requirement for arrivals around mid-October if the pandemic continues to ease, as the island joins other regional holdouts moving to reopen their borders to travelers. The government will monitor the situation for another week, and plans to announce the easing two weeks ahead of the scheduled implementation, meaning the new rules would …