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

  Thanks to climate change, sea levels are lapping up against coastal cities and communities. In an ideal world, efforts would have already been made to slow or stop the impact. The reality is that climate mitigation remains difficult, and the 40% of humanity living within 60 miles of a coast will eventually need to adapt. One option is to ...

  A company is in distress. Its financials are in shatters. Its brand value is being questioned. The chief executive officer has a broad blueprint to revamp and he has the support of some board members. But for a complete re-branding, he needs the approval of the chairman first. This is a process that distressed assets managers are all too ...

  Bloomberg Prosus NV is planning to sell more of its $134 billion stake in Chinese internet giant Tencent Holdings Ltd to finance a buyback program, reversing a pledge to hold onto the full shareholding. Tencent erased earlier gains in Hong Kong as investors pondered the extent to which Prosus, the Chinese company’s biggest shareholder, will unload its stock. The ...

  Bloomberg Reliance Industries Ltd is in talks with several global banks to raise as much as $8 billion for its planned leveraged buyout of Walgreens Boots Alliance’s international arm, according to a report from Mint. The report, which cited two people familiar with the discussions, said that Reliance is in talks with Barclays Bank Plc, Deutsche Bank AG, HSBC ...

Bloomberg The Netherlands is planning to cut Schiphol airport’s capacity by about 20% next year to reduce noise pollution, a move the global airline lobby described as a “shocking blow” to aviation, jobs and the economy. The Dutch government said it will introduce a maximum limit of 440,000 flights at the Amsterdam hub in November 2023, meaning it will no ...

Bloomberg United Airlines Holdings Inc pilots tentatively agreed to a new contract that gives them 14.5% raises, increased overtime pay and other benefits, setting the standard as other major carriers negotiate deals with their aviators at a time of rebounding travel demand. The higher pay will come in three increases over an 18-month span, the Air Line Pilots Association said. ...

  Bloomberg Akasa, India’s newest airline, will conduct a proving flight with the country’s Directorate General of Civil Aviation as early as this week as it looks to start commercial services by around the end of July, CEO Vinay Dube said. Akasa, backed by billionaire Rakesh Jhunjhunwala, will likely receive its air operator’s certificate within days of the proving flight, ...

  Bloomberg Air India Ltd is considering hiring retired pilots, according to an airline official with knowledge of the matter, as the money-losing carrier seeks to bolster staff to prepare for one of the largest aircraft orders in commercial aviation history. The former state-run airline reached out to superannuated pilots, asking if they would be willing to opt for an ...

Bloomberg The leaders of Finland and Sweden are set to meet with Turkish President Recep Tayyip Erdogan on Tuesday in a bid to convince him to drop the objections to their membership in Nato. Finland’s President Sauli Niinisto and Swedish Prime Minister Magdalena Andersson are slated to meet Erdogan in Madrid, alongside Jens Stoltenberg, the secretary general of the North ...

  Bloomberg Russian President Vladimir Putin will travel to Tajikistan on Tuesday and later visit Turkmenistan for a summit of Caspian Sea nations, his spokesman said, in the first foreign trip by the Russian leader since the invasion of Ukraine in February. Putin will hold talks with Tajik President Emomali Rahmon in Dushanbe, Kremlin spokesman Dmitry Peskov said on a ...