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

  Bloomberg The German government is willing to discuss a US proposal to cap the price of Russian oil exports, while cautioning that such a measure may be too complicated to implement. US Treasury Secretary Janet Yellen’s idea to link an oil price cap to insurance sanctions is an interesting proposal, and the Group of Seven most industrialized countries are ...

That the World Trade Organization (WTO) was able to come to any kind of deal at its 12th ministerial meeting last week was something of a miracle. The organisation has been dead for years as a location for trade governance — and even longer as a place for successful negotiations. In fact, reports of the WTO’s continued existence are greatly ...

When Marc Andreessen and Ben Horowitz’s startup LoudCloud clinched a fundraising round at an $820 million valuation even as the dotcom boom unraveled in 2000, management expected cheers from staff. Instead, the first question was: “Why didn’t we get a $1 billion valuation?” Unicorn envy — the quest for those nine zeroes that grab headlines and open wallets — has ...

  As you will doubtless have been informed, world equities are now in a bear market. What happens next? The most excessive speculation has already been washed out of the system. Those warning of bubbles in bitcoin and other cryptocurrencies, meme stocks, or the growth tech companies owned by the ARK Innovation ETF certainly seem to have had a point. ...

  President Joe Biden finally plans to ease some of the tariffs on Chinese goods put in place by his predecessor — which is the right policy. But the president will have to do more if he wants to keep inflation low in the post-Covid economy. The administration needs a complete reversal of its trade policy: Stop promoting demand for ...

  Bloomberg Associated British Foods Plc said that budget-clothing retailer Primark will test a UK click-and-collect service on children’s products, seeking to boost sales that are still recovering from the pandemic. In a significant departure for a retailer that has previously resisted moving any of its sales online, the trial will take place in up to 25 stores in the ...

  Bloomberg JetBlue Airways Corp raised its offer to purchase Spirit Airlines Inc, the latest move in a multi-billion dollar takeover contest with rival Frontier Group Holdings Inc, with both would-be suitors battling to secure a swift track to expansion as domestic travel demand surges. New York-based JetBlue is now offering $33.50 per share, up from $31.50 on June 6, ...

Bloomberg EasyJet Plc said it will rein in summer capacity after London Gatwick and Amsterdam Schiphol airports, its two biggest bases, capped flights to help cope with a staffing shortage. The measure is set to push up costs. The UK discount carrier will now operate at around 87% of pre-Covid capacity in the three months ending on June 30, increasing ...

  Bloomberg Ocado Group Plc raised £575 million ($705 million) to fuel expansion even as the surge in online food shopping during the pandemic recedes with soaring inflation thinning consumer wallets. Shares in the British e-commerce group fell as much as 6.1% in early trading, after Ocado sold 72.3 million shares in an accelerated placing, in an emailed statement. Stock ...

  Bloomberg Ryanair Holdings Plc’s British-based pilots accepted a new pay deal with the airline, avoiding any potential strike and giving the carrier some relief amid a wave of action from staff across Europe. Ryanair members of the British Airline Pilots’ Association voted to accept a revised pay offer from the airline, a union spokesperson said. BALPA had been in ...