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

Bloomberg Qantas Airways Ltd, which has faced severe criticism from passengers over disruptions, is anticipating further challenges in the coming weeks as it navigates staff sickness and a tight labour market. Passengers angered by delays and cancellations have lashed out at the airline and Chief Executive Officer Alan Joyce, particularly over a decision to shed thousands of jobs. The carrier …

  Bloomberg SpiceJet Ltd staged one of global aviation’s most remarkable turnarounds in 2015 after founder Ajay Singh swept in at the eleventh hour to rescue it. Less than a decade later, the Indian budget airline needs a revival of fortunes again. Once an investor darling, SpiceJet is now the worst-performing airline stock in Asia, fighting a run of negative …

  Bloomberg Snarls along the aviation supply chain may make it a challenge for Embraer SA to meet its year-end commercial delivery targets, the Brazilian aerospace manufacturer said. “We are suffering with these supply chain constraints. We had a difficult first half,” Chief Executive Officer Francisco Gomes Neto said in an interview with Bloomberg. “We’re doing everything we can to …

  Bloomberg Esprit Holdings Ltd, the once high-flying Hong Kong fashion retailer before it tumbled into years of losses, is planning a comeback in Asia, pivoting away from a fast-fashion strategy where it failed to compete with brands such as Zara and H&M. The company is now focusing on better-quality clothing that’s more expensive than fast-fashion apparel but more sustainable, …

  Bloomberg Swedish retailer Hennes & Mauritz AB will start winding down its operations in Russia, having halted all sales in the country in March after Russia’s attack on Ukraine. The Stockholm-based company expects to book costs of 2 billion kronor ($190 million) from the process, of which about 1 billion kronor will have a cash-flow impact, it said in …

  Bloomberg China’s central bank injected additional liquidity into the financial system for the first time since June as a growing mortgage-payment boycott and a virus flareup leads to a sense of crisis. The People’s Bank of China (PBOC) boosted the size of its daily short-term cash operation to 12 billion yuan ($1.8 billion) from 3 billion yuan, resulting in …

  Bloomberg The European Central Bank’s (ECB) battle to restore its credibility with the financial markets just got a whole lot harder. After a week marked by a fresh crisis in Rome, MLIV readers warn Italian debt risks hitting the danger zone once more — just as a near-imminent recession intensifies the epic plunge in the euro to levels not …

  Bloomberg Nordea Bank Abp’s profit beat estimates in a turbulent second quarter for financial markets, as demand for loans and rising interest rates herald higher income from lending for the biggest Nordic bank. Second-quarter net income rises 2.8% from a year earlier, to 1.05 billion euros ($1.1 billion), according to a statement on Monday. Analysts polled by Bloomberg had …

Bloomberg India’s foreign exchange reserves dropped to their lowest in 15 months as the central bank probably stepped up its intervention to support the rupee that is testing new lows amid foreign capital outflows. The reserves falls by $8.06 billion to $580.3 billion, data released by the central bank showed. This is the second straight week of decline and comes …

  Bloomberg Latin American central banks may need to extend already long and deep rate hiking cycles to shore up battered currencies that are threatening financial stability, Goldman Sachs Group Inc. analysts said in a report. The region’s currencies, notably the Chilean and Colombian pesos, “are still vulnerable to an intensification of recession fears, a deterioration of economic activity in …