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

  Sharjah / WAM Over 12 days, the 13th edition of the Sharjah Children’s Reading Festival (SCRF) took more than 112,350 visitors of all age groups and backgrounds on a journey to new worlds of learning and entertainment. With spaces attractively designed to stimulate thought and creativity, Expo Centre Sharjah spoilt cultural enthusiasts for choice with the festival’s vast offering ...

  Bloomberg Europe’s ambitious plan to walk away from Russian natural gas and replace a chunk of it with tanker-borne imports faces a major obstacle: getting it to where it’s needed most without huge price discrepancies. Even as record amounts of liquefied natural gas (LNG) land on Europe’s shores, the lack of interconnectors from key import terminals in the west ...

When French container-shipping giant CMA CGM Group announced a cargo partnership with Air France-KLM, the real surprise was its plan to acquire only 9% of the airline. Having made 18 billion euros ($19 billion) of net profit last year, the world’s third-largest container line by capacity could afford to acquire all of Air France with plenty of change to spare. ...

It’s been more than two years since countries started closing their borders to visitors to prevent the spread of Covid-19. Now China, facing its worst outbreak of the pandemic, is trying a new tactic. Henceforth, “unnecessary” overseas travel by Chinese citizens will also be restricted, supposedly to keep residents from bringing the virus home from abroad. The policy, announced earlier ...

Arbitrary round numbers matter, even though they shouldn’t. The definition of a “bear market” as any peak-to-trough drawdown of 20% or more is unhelpful. The difference between losses of 19.95% and 20.05% is minimal. But the definition is often cited, and it has an impact on how people behave. Which brings us to Friday’s trading, when the proximity of the ...

  It’s beyond disappointing that UK Prime Minister Boris Johnson chose to escalate his quarrel with the European Union at this moment, with war raging in Ukraine and unity in the face of Russian aggression of surpassing importance. Unfortunately, it’s not surprising. At issue is the Northern Ireland Protocol, a part of the exit deal Britain struck with the EU ...

Bloomberg Amazon.com Inc is testing a service that uses the company’s sprawling network of gig drivers to fetch packages from mall-based retailers and deliver them to customers. The program, should it become a permanent part of the e-commerce giant’s delivery options, could help Amazon expand the variety of goods it has available for fast shipment. Shoppers who want same-day or ...

  Bloomberg President Joe Biden invoked emergency powers under the Defense Production Act to boost production of baby formula and ordered government agencies to use commercial flights for imports to alleviate shortages. The White House said in a statement that the move would allow domestic manufacturers to obtain needed ingredients and speed shipments of foreign supplies. “I know parents all ...

  Bloomberg Foot Locker Inc shares climbed after its forecast showed the retailer is overcoming Nike Inc’s move to sell more shoes via its own channels. Foot Locker said that it now expects full-year sales and profit to be at the high end of its prior expectations. Chief Executive Officer Dick Johnson said the company is “off to a strong ...

  Bloomberg Rapid delivery companies have curbed their ambitions in the Netherlands after disgruntled Dutch cities put a halt on the explosive growth of their distribution centers. After months of consultations, Flink SE, Getir and Gorillas signed a joint code of conduct that could crimp their ability to make super-fast deliveries in a concession to Dutch municipalities. The companies pledged ...