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

  Bloomberg It’s “wishful thinking” to expect relations between Russia and the West to return to their pre-war status soon after the fighting stops in Ukraine, as the Kremlin appears bent on creating a buffer between itself and Nato, Romania’s prime minister said. Nicolae Ciuca, a retired general who once led combat forces in Iraq, said Russia’s invasion has re-opened ...

  Bloomberg Serbia and Kosovo may resume European Union-mediated talks on mending ties later this month following weekend tensions over identification cards and car plates. The meeting in Brussels could take place on Aug. 18, Serbian President Aleksandar Vucic told state broadcaster RTS late Tuesday. Kosovo government spokesman Perparim Kryeziu said the meeting is expected in the third week of ...

  Bloomberg At least three soldiers were killed in fighting between Azerbaijani and Armenian forces in disputed territory that’s overseen by Russian peacekeeping troops as part of a truce deal that halted a 2020 war. Two Armenian serviceman died and 14 were wounded when Azerbaijani troops fired grenade-launchers and used attack drones, the defense army of the unrecognized Nagorno-Karabakh Republic ...

Bloomberg AP Moller Maersk A/S raised its profit forecast for this second time this year after congestion on trade lanes boosted global freight rates, creating an “exceptional market” for transport companies. Maersk, which controls about one-sixth of the world’s container trade, and its peers have benefited from supply-line disruptions as a shortage of shipping capacity has enabled them to charge ...

Bloomberg France experienced its driest July on record as searing heat spread across Europe, putting strain in key crops. The average precipitation across the country was 8.1 millimeters, making it the driest month since March 1961, forecaster Meteo France said on its website. Rainfall in Brittany, Auvergne and Corsica was at least 95% below the norm. The scorching temperatures and ...

  Bloomberg Relentless heatwaves blasting Spain this summer threaten to sink production of olive oil from the world’s top exporter of the cooking ingredient, according to Agriculture Minister Luis Planas. If there is no temperature relief or rains in the coming weeks, this year’s olive harvest could be notably lower than previous ones,” said Planas in an interview, declining to ...

  Bloomberg Oracle Corp cut jobs in marketing and the US customer experience division, signalling a pullback in customer analytics and advertising services. Some workers were told that their positions had been eliminated. Junior sales employees as well as a division sales director were among those let go, according to one former worker who lost their job and asked not ...

Abu Dhabi / Gulf Time Arkal Engineering Consultants and Interior Design, the leading company in the field of engineering design and decoration, has won more than 33 prestigious local awards during its career. For his part, Zayed Al-Khulaifi, General Manager of Arkal Engineering Consultants and Interior Design, said, “With the provision of high levels of quality, architectural and construction services ...

  Bloomberg For almost a decade, Alibaba Group Holding Ltd and Tencent Holdings Ltd embodied China’s economic miracle, sustaining a dizzying pace of growth and approaching trillion-dollar valuations with splashy forays into every corner of the internet. That spectacular run could officially end on Thursday, when the e-commerce powerhouse that Jack Ma founded is expected to record its first-ever decline ...

  Bloomberg US stock futures climbed on Wednesday as some of the investor anxiety over tense US-China ties eased, while Treasuries extended a slide sparked by hawkish Federal Reserve comments. S&P 500 futures and contracts on the Nasdaq 100 both rise by about 0.4%. Europe’s Stoxx 600 was little changed as investors assessed signs of resilience in the latest company ...