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

DUBAI / WAM The United Arab Emirates is supporting the Dominican Republic’s efforts to become a regional logistics hub in Central America and the Caribbean, the country’s Vice President told the Emirates News Agency (WAM). Raquel Peña made this comment while talking about Dubai-based DP World, the multinational company that facilitates global trade through its ports and terminals, parks, logistics ...

  Bloomberg After taking a barrage of criticism for buying a cargo of Russian crude, Europe’s largest oil company Shell Plc says it’s navigating the market with government guidance. “We will continue to choose alternatives to Russian oil wherever possible, but this cannot happen overnight because of how significant Russia is to global supply,” Shell said in a statement. “We ...

  As the world grapples with crafting an effective response to Russian President Vladimir Putin’s illegal and immoral invasion of democratic neighbour Ukraine, three key approaches have emerged. The first is the imposition of crippling sanctions, which over time will strangle the Russian economy. The second is military support to the Ukrainians and a promise to help train, organize and ...

Hong Kong feels like it’s on the edge of a nervous breakdown, and it’s tempting to ask how much more people can take. With reports circulating that authorities will impose some form of lockdown later this month, supermarket shelves are once again being stripped bare and long lines have formed outside pharmacies. More than two years after the start of ...

  A debate is intensifying about the role of corporate America in the recent wave of higher inflation. Companies are undoubtedly raising prices. The question is whether they are exploiting a surge in consumer demand or merely passing on their own higher costs. The available data strongly suggests that companies are raising prices to enhance profits. The view of price ...

  Vladimir Putin’s war on Ukraine will have momentous consequences for many — above all for Ukrainians, those who are fleeing the country and those who have stayed to fight off the invading army or to helplessly endure the devastation. But the effect on Russians, too, will be enormous, whether or not we realise it now. It’s time for we ...

  Bloomberg International sanctions triggered by the invasion of Ukraine are poised to derail a Russian effort to challenge Airbus SE and Boeing Co in single-aisle jets. Irkut Corp’s MC-21 jetliner, set to enter service this year, had already been hit by delays and cost overruns due to pre-existing sanctions. The plane, which features composite wings and is designed to ...

  Bloomberg Ethiopian Airlines signed a memorandum of understanding to purchase five of Boeing Co’s newest air-cargo haulers, the 777-8 freighter, the airline said in an emailed statement. Africa’s largest aviation group is the second customer to announce a commitment for the freighter version of the 777X. Chicago-based Boeing seeks to bring the 777-8 freighter to market by 2027, about ...

Bloomberg Hong Kong’s retail sales grew at the slowest pace since July, with the government warning of further pressure ahead amid a surge in Covid cases. The value of retail sales grew 4.1% in January from a year earlier, compared with the median estimate of 0.4% in a Bloomberg survey of economists. The volume of sales rose 1.7%. The Lunar ...

  Bloomberg Russia will halt some international flights to keep billions of dollars’ worth of aircraft from being taken back by their foreign owners, deepening a rupture in the global aviation industry triggered by the invasion of Ukraine. The government’s move will give Aeroflot and other Russian carriers cover to hold on to hundreds of Airbus SE and Boeing Co ...