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

  Bloomberg Microsoft Corp shares rise in late trading, reversing an earlier decline, after the software giant gave a forecast that reassured investors the company’s Azure cloud-computing business still has potential to drive growth. Earlier, Microsoft had reported quarterly sales that topped $50 billion for the first time and profit that exceeded analysts’ estimates, fuelled by cloud, gaming and Windows …

  Bloomberg Natural gas prices in Europe declined as Russia’s shipments increased and weather forecasts pointed to milder temperatures in the region. Orders to send gas through Ukraine via Velke Kapusany, a major entry point in Slovakia, rose to the highest level since January 1, according to data from operator Eustream. Shipments still remain below normal. Above-average temperatures are expected …

  Bloomberg The UK plans to bulk up the amount of power capacity it has ready for next winter, beyond the amount recommended by network operator National Grid Plc. The government set the target for the 2022-23 power capacity auction 14% higher than National Grid’s recommendation, according to a letter from Business Secretary Kwasi Kwarteng. Under the system, Britain pays …

  Bloomberg Global traders already on tenterhooks over this week’s key Federal Reserve meeting were jolted further on Tuesday by Australian inflation data that smashed expectations, a surprise monetary tightening in Singapore and further swings in US equity futures. A maelstrom of volatility in the past 24 hours saw almost $3 trillion wiped off global stocks before a reversal with …

  Bloomberg South Korea will extend trading in its foreign-exchange market and ease restrictions against overseas investors in a bid to encourage more foreign participation — reversing a decades-old policy intended to limit volatile capital flows. Onshore dollar-won spot market trading hours will be extended significantly from the current 9:00 am to 3:30 pm local time span, the finance ministry …

  Bloomberg The European Union’s executive arm is testing the waters to see if its trading partners, including the United States, could boost natural gas supplies to the region amid limited shipments from Russia and rising geopolitical risks, according to the bloc’s energy chief. While the EU has a robust gas infrastructure and clear procedures in case of emergencies, it …

  Bloomberg Shell Plc has identified 4 billion euros ($4.5 billion) of potential investments in France in a bid to support the country’s efforts to develop sustainable sources of energy, Le Figaro reported, citing an interview with Chief Executive Officer Ben van Beurden. Shell wants to invest in offshore wind farm projects, the creation of electric vehicle battery charging stations …

  Bloomberg An April increase to the government’s price cap on energy bills will affect more than 75% of British households, according to The Times. The number of households covered by the price limit has risen to 22 million from 15 million, the newspaper said, citing energy regulator Ofgem. Standard variable tariffs are capped at 1,277 pounds ($1,731) a year …

  Bloomberg Britain will compel airlines to use 70% of takeoff and landing slots this summer to boost competition after the coronavirus crisis, angering carriers still struggling with demand far short of pre-pandemic levels. To ease the transition towards use-it-or-lose-it requirements that are closer to 2019 levels, the Department for Transport also published an extended list of get-out clauses, such …

  Bloomberg China accused the US of “bullying” over its decision to suspend dozens of flights from America by Chinese airlines, underscoring lingering tensions between the world’s biggest economies. The US “wantonly suspended Chinese flights and disrupted their normal operations,” Foreign Ministry spokesman Zhao Lijian said at a regular press briefing in Beijing on Monday. “It is irresponsible and unreasonable.” …