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

  Bloomberg London Heathrow airport said airlines need to hire ground staff more aggressively to help overcome persistent travel disruptions, warning that a cap on flights to ease the chaos might have to stay in place for at least another year. “This is not going to be a quick fix,” CEO John Holland-Kaye said. “It’s absolutely possible that we could ...

Bloomberg Deutsche Lufthansa AG’s ground-crew union called a strike for Wednesday, escalating a crisis at Europe’s biggest airline after staffing shortages caused thousands of flights to be cancelled earlier in the summer. The Verdi labour group called for members to take part in industrial action at Lufthansa’s German airport bases, a move that could see check-in personnel and other staff ...

  Bloomberg Regulators are directing US operators of Boeing Co 777 widebody jets to repair aircraft to address concerns about potential fuel-tank explosions, according to a filing. A proposed airworthiness directive from the US Federal Aviation Administration (FAA) calls for operators to inspect the jets and install Teflon sleeves and cap fasteners to certain parts of the centre, left and ...

  Bloomberg Customers seeking to buy Zenith brand watch models including the Chronomaster Sport and Defy Skyline are now having to join waitlists as sales for the Swiss brand surge. “We have a shortage and there is very little chance to get one without a long waiting time,” Julien Tornare, the president and CEO of LVMH-owned Zenith, said. The Zenith ...

Bloomberg House Speaker Nancy Pelosi’s staff and security officials aren’t ruling out plans for her to visit Taiwan in early August on a trip that has already stoked more US-China tensions. No final decision has been made about stopping in Taiwan during a trip to Asia next month, according to a person familiar with the details, but if it happens ...

Bloomberg Now that Ukraine’s grain-export deal has been signed, all eyes are on clearing a major obstacle: freeing the scores of ships stuck there since February. As many as 100 vessels carrying grain and agricultural products were trapped in Ukrainian ports when Russia’s invasion began, and seeing them sail would mark a first step in revitalizing seaborne trade. But even ...

Bloomberg Indonesian President Joko Widodo invited China’s Xi Jinping to attend the Group of 20 summit in November, as the two leaders held a rare meeting in Beijing amid strict Covid controls. Xi thanked the G-20 host for his invitation and wished him success, according to a statement from China’s Ministry of Foreign Affairs. But it was unclear whether he ...

Bloomberg Myanmar has sufficient foreign reserves to avoid an economic crisis similar to Sri Lanka’s, the military government said, pushing back on suggestions by some analysts that the Southeast Asian nation faces a growing possibility of default. Major General Zaw Min Tun, a spokesman for the State Administration Council, said at a press conference on Tuesday that Myanmar has a ...

  Bloomberg Former Sri Lankan President Gotabaya Rajapaksa is expected to return home from Singapore where he has been staying for nearly two weeks after fleeing violent protests in the South Asian country where citizens called for his ouster. Rajapaksa has been the focus of protesters who blame him for a series of missteps that led to an economic meltdown ...

  Bloomberg UBS Group AG reported weaker-than-expected profit in the second quarter, as the global market sell-off kept wealthy clients on the sidelines and institutional investors pulled funds. The Zurich-based bank reported net income of $2.1 billion, compared with analyst estimates of $2.4 billion. The quarter was impacted by lower revenues at the key wealth management business, outflows in asset ...