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

  Bloomberg Such is the state of the UK consumer that even seemingly positive data can reveal bad news about the economy. After a week of grim reports showing inflation at a four-decade high and consumer confidence at the lowest level since at least 1974, a release showing retail sales unexpectedly rose in April appeared to buck the trend. The ...

Bloomberg Joe Biden talked at length as a presidential candidate about the need to focus on China’s rising global power. Yet 17 months after taking office, Asian leaders are still waiting for details on a strategy for more US economic engagement in the region. Before Biden touched down in South Korea, many officials in the region have struggled to understand ...

  Bloomberg Australia’s six-week election campaign has entered its final days with polling showing a narrow victory likely for the center-left opposition Labor Party, but an unexpected result in 2019 is still hanging over both sides ahead of voting on Saturday. PM Scott Morrison and Opposition leader Anthony Albanese are rushing to visit must-win seats across the country, with Morrison ...

Bloomberg US President Joe Biden welcomed congressional passage of $40 billion in aid for Ukraine and announced a new package of weapons he said would be sent “directly to the front lines.” A top Kremlin official said Russia is intent on taking all of the Donetsk and Luhansk regions of Ukraine. The US and United Nations are looking at ways ...

  Bloomberg Chancellor Olaf Scholz signature policy to boost Germany’s military prowess is struggling to get off the ground. Back in February, the 63-year-old chancellor vowed to end decades of military underfunding with a debt-financed 100 billion euro ($105 billion) defense package, dismantling the tenets on which German foreign policy long-rested since World War II. But since then Scholz has ...

Bloomberg Chancellor of the Exchequer Rishi Sunak said that extra government spending to help ease Britain’s cost-of-living crisis risks further stoking inflation, as he warned of tough months ahead for the UK economy. “We need to be careful,” Sunak said at the annual dinner of the Confederation of British Industry, speaking to hundreds of executives. “At a time of severe ...

Bloomberg Applications for US state unemployment insurance unexpectedly rose last week to the highest level since January, led by increased filings in Kentucky and California. Initial unemployment claims increased by 21,000 to 218,000 in the week ended May 14, Labour Department data shows. The median estimate in a Bloomberg survey of economists called for 200,000 initial applications. Continuing claims for ...

  Bloomberg Tesla Inc plans to keep employees at its Shanghai factory working in a so-called closed loop system — where staff are ferried to and from work and tested for Covid-19 regularly — until mid-June, people familiar with the matter said, even as Chinese authorities move to ease wider lockdown restrictions in the city. Thousands of the electric car ...

  Bloomberg Prime Minister Justin Trudeau’s government joined Canada’s closest intelligence allies in banning Huawei Technologies Co. from the fifth-generation wireless networks. The Chinese state-championed telecommunications firm poses a threat to Canada’s national security, Industry Minister Francois-Philippe Champagne said, confirming an earlier Bloomberg News report. ZTE Corp. equipment will also be prohibited. Firms that already have Huawei or ZTE gear ...

  Bloomberg Getty Images Inc has signed a multiyear deal with Candy Digital, the digital collectibles firm owned by Fanatics Inc, as the provider of news and stock photos breaks into the non-fungible-token business ahead of its plans to go public. As part of the agreement, the pair will develop a range of NFT products from Getty’s sizable library and ...