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

Bloomberg Malaysia relaxed virus restrictions including mask mandates and testing at airports as the Southeast Asian nation adjusts to living with Covid. The country is scrapping mandatory virus tests on all incoming vaccinated travellers beginning from May 1, an exemption it had initially bestowed to Singapore alone. Wearing masks outdoors will also be optional and physical distancing is no longer …

Bloomberg Harry’s Inc catapulted to fame by selling sleek, low-priced razors over the internet. A decade on, it’s now generating more than half of its sales from brick-and-mortar stores, its founders said. The closely held company, which made a splash taking on what founders Andy Katz-Mayfield and Jeff Raider saw as big corporations’ overpriced offerings, is seeing the sales payoff …

  Bloomberg Ryanair Holdings Plc accused Poland of discrimination amid an ongoing dispute between the government and the country’s air traffic controllers. The airline filed a complaint with the European Union against Poland, saying that the local regulator is breaking the bloc’s rules by unfairly prioritising national carrier PLL Lot. According to Ryanair, its Polish competitor is favoured by route …

  Bloomberg JetBlue Airways Corp, hammered by delays and cancellations this year, is cutting its summer schedule by more than 10% from original plans and reining in growth ambitions for the full year. The Long Island City, New York-based carrier is reducing flights for a second time this year as it now projects growth of between zero and 5% and …

  Bloomberg China’s central bank pledged to support the economy through targeted financing for small businesses and a quick resolution of the ongoing crackdown on technology firms in Beijing’s latest bid to reassure investors nervous about growth and Covid lockdowns. The People’s Bank of China (PBOC) “will step up the prudent monetary policy’s support to the real economy, especially for …

  Bloomberg European stocks extended three days of declines as investors came to grips with the implications of cuts in gas supplies from Russia and the prospect of faltering growth. The Stoxx 600 Europe Index fell almost 1% while S&P 500 and Nasdaq 100 contracts also gave up early gains in the wake of a technology-led slump that pushed the …

  Bloomberg Sri Lanka stocks rallied, marking their first day of gains since April 5, after the World Bank said it will allocate funds to ease the nation’s economic crisis. The Colombo All-Share Index ended 6.8% higher, after losing about 15% in the past two days. The bluechip S&P Sri Lanka 20 Index surged 14%. Trading had to be suspended …

  Bloomberg Billionaire entrepreneur Elon Musk agreed to buy Twitter Inc for $44 billion, using one of the biggest leveraged buyout deals in history to take private a 16-year-old social networking platform that has become a hub of public discourse and a flashpoint in the debate over online free speech. Investors will receive $54.20 for each Twitter share they own, …

  Bloomberg Commodities trading giant Cargill Inc expects some of its freight vessels to be powered by clean marine fuel before the end of this decade. In 2020, Cargill shipped almost 200 million tons of iron ore, grains and other goods around the world. It has as many as 700 vessels on the water at a time, and most of …

  Bloomberg Sprng Energy Pvt is nearing a deal for Shell Plc to acquire the Indian renewable power producer for about $1.8 billion including debt, people with knowledge of the matter said. An agreement between Sprng’s private equity owner Actis and the energy giant could be signed in two to three weeks after Shell beat out rival bidders, the people …