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

  Focused on war in Europe, the administration of President Joe Biden has paid comparatively little attention to the US’s relations with Africa. Yet deeper US engagement with the planet’s most youthful and fastest-growing continent is essential to global stability. Biden can both meet Africa’s needs and advance US security interests by focusing on the biggest threat to Africa’s future: ...

  Industrial demand is still robust, but many more yellow lights are flashing for investors than there were even just a few weeks ago. The first-quarter earnings season unofficially kicks off next week with industrial distributor Fastenal Co, whose results can often be a harbinger when its manufacturing customers report later this month. Last we heard from Fastenal, the company ...

  Bloomberg Spirit Airlines Inc will hold talks with JetBlue Airways Corp over its $3.6 billion cash takeover bid that’s threatening to disrupt a pending combination between Spirit and rival deep discounter Frontier Group Holdings Inc. JetBlue’s offer could lead to a superior proposal, Spirit said in a statement after assessing the bid with financial and legal advisers. JetBlue’s unsolicited ...

Bloomberg Deutsche Lufthansa AG has about 10 billion euros ($11 billion) more debt because of the coronavirus pandemic, according to CEO Carsten Spohr. “That’s the price tag,” Spohr said in an interview with newspaper Schweiz am Wochenende. “It was expensive.” The German carrier hopes that its Swiss airline will pay back its pandemic-related government-backed loans by the end of the ...

Bloomberg The Dutch advertising watchdog ruled that a KLM promotion telling customers they could fly carbon-emission free is misleading. The ad’s tag line, “Be a hero, fly CO2 zero,” is an absolute claim, the Dutch Advertising Code Committee said in a verdict seen by Bloomberg. As such, the company has the burden of proving the statement and didn’t meet that ...

  Bloomberg The US issued orders suspending Aeroflot PJSC, Russia’s biggest airline, and two others from receiving US parts and services for their planes, a step that officials expect over time will limit their ability to fly. The denial orders for Aeroflot, Azur Air, and UTair Aviation PJSC announced by the Commerce Department mark the first enforcement action for violation ...

  Bloomberg Airbus SE delivered 63 planes last month, boosting the firm’s plans to ramp up output despite concern that surging oil prices and the conflict in Eastern Europe could dent demand. The handovers took the first-quarter tally to 142. Net deliveries were reduced by two after trade sanctions imposed over the Ukraine invasion prevented the handover of A350 long-haul ...

  Bloomberg Amazon.com Inc interfered in a union election at an Alabama warehouse by prohibiting employees from discussing the union during work hours or posting literature about the effort, according to objections filed by the Retail, Wholesale and Department Store Union seeking to void the election results. Amazon employees in Bessemer, Alabama, voted 993 to 875 against forming a union ...

Bloomberg Pakistan lawmakers are set to vote in opposition leader Shehbaz Sharif as the next prime minister after former cricket star Imran Khan was ousted in a no-confidence motion that ended his four-year run. A united opposition bloc cobbled together 174 lawmakers to vote against Khan in Islamabad, two more than required to remove him from office. Parliament convenes again ...

Bloomberg Nato Secretary General Jens Stoltenberg said military commanders are working on plans for a permanent troop presence on the alliance’s eastern border in response to Russia’s invasion of Ukraine, the Telegraph reported. Stoltenberg said Nato is envisaging a “reset” that would shift the role of troops in eastern European member countries from serving as a tripwire in case of ...