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

  Dubai / WAM Dubai Integrated Economic Zones Authority (DIEZ) announced that Dubai Silicon Oasis (DSO) – the integrated free zone technology park in Dubai – will host its first e-sports event in October. The e-sports event is a collaboration between DIEZ and Seed, a consultancy firm that specialises in ecosystem building with extensive experience in e-ssports, blockchain, and payments. ...

  There’s a $60 billion reason why SoftBank Group Corp. founder Masayoshi Son might feel a little down. His company has shed more market value in the past year than during any 12-month period over the past two decades, while his portfolio of private and public companies faces continued turmoil. And yet, Son remains unfailingly optimistic. “I have no doubt ...

President Joe Biden declares his loyalty to organized labor at every opportunity. His fiscal stimulus, infrastructure plan and numerous executive orders have delivered favors and accommodations. When Apple retail workers in Maryland voted recently to unionize, he said: “I am proud of them. Workers have a right to determine under what conditions they are going to work or not work.” ...

  At a summit in Brussels, leaders of the European Union’s 27 member states approved Ukraine’s candidacy for membership in the EU. The decision will boost the morale of Ukrainians fighting to defend their democracy. For now, however, it’s less clear that enlargement to Ukraine is in the best interests of Europe as a whole. Ukraine’s reasons for seeking EU ...

  President Joe Biden and his allies in Congress are rightly concerned about surging prices. High and persistent inflation has surprised most policy makers, including at the Federal Reserve, and has defied easy fixes. The only sure solution is to curb demand, as the Fed is beginning to. Doing that without tipping the economy into recession will be quite a ...

Bloomberg A wave of airline strikes and flight cancellations is deepening Europe’s transport crisis, disrupting travel plans just as the region’s peak summer season gets under way. Walkouts in coming days at Ryanair Holdings Plc, EasyJet Plc, British Airways and Aeroports de Paris (ADP) will add to the turmoil from staffing shortages that are leading to hours-long delays and thousands ...

  Bloomberg Deutsche Lufthansa AG doesn’t expect flight operations to return to normal until next year, after cutting 3,100 flights from its summer schedule due to staff shortages. “Unfortunately, we will hardly be able to realistically achieve a short-term improvement now in the summer,” Lufthansa board member Detlef Kayser said in an interview with Die Welt. The only option for ...

Bloomberg Nike Inc said it’s leaving the Russian market entirely after suspending operations in March, joining other US companies that have pulled out in the wake of Russia’s invasion of Ukraine. The world’s largest athletic-wear maker halted sales in Russia earlier this year, telling customers that it couldn’t guarantee product shipments. The Beaverton, Oregon-based company had more than 100 stores ...

Bloomberg Regent Street, London’s premier shopping thoroughfare, is struggling to shake off the lingering effects of Covid-19. Store vacancy levels, at a record 12%, are almost twice what they were at the end of 2019, while asking rents for the best space on the street have fallen by more than 30% during the pandemic, according to Savills Plc. Shoppers who ...

  Bloomberg Software maker Zendesk Inc agreed to be acquired by a group of buyout firms led by Hellman & Friedman and Permira for about $9.5 billion. The all-cash transaction offers shareholders $77.50 a share, a premium of 34% over Zendesk’s closing stock price. Including debt, the deal is valued at about $10.2 billion. The announcement comes after Zendesk said ...