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

Bloomberg Oracle Corp, a Silicon Valley stalwart, has moved its headquarters to Texas, becoming the latest technology company to leave its home state in the face of California’s higher taxes, steeper cost of living and a broader shift to remote work. The move to Austin from Redwood City “means that many of our employees can choose their office location as ...

Bloomberg Live streaming by Chinese influencers like Wei Ya and “lipstick king” Li Jiaqi, peddling everything from skincare products to toilet paper, lured millions to Alibaba Group Holding Ltd’s biggest binge-shopping day last month, posting a record $75 billion in sales. In Europe, the event barely made a ripple. While Alibaba’s Tmall platform in China logged 583,000 orders in one ...

Bloomberg General Electric Co poured $4 billion into repairing its balance sheet, furthering steps to whittle down a pension liability that has been a thorn in Chief Executive Officer Larry Culp’s turnaround efforts. The manufacturer prefunded about $2.5 billion in pension requirements for the next three years and repaid $1.5 billion of an intracompany loan to GE Capital, according to ...

Bloomberg Boeing Co lost almost half of a 737 Max aircraft order from Bain Capital’s Virgin Australia under a new agreement that also postpones the initial jet delivery by two years to mid-2023. Virgin Australia will take 25 of Boeing’s Max 10 jets to serve as the “backbone” of future domestic and short-haul international flights, Jayne Hrdlicka, the budget carrier’s ...

Bloomberg South Africa faces a fresh battle with labour groups in its effort to revive the bankrupt state airline, offering three months of wages to employees who haven’t been paid since March. The government’s Department of Public Enterprises (DPE) and the National Union of Metalworkers of South Africa were scheduled to discuss the matter, according to a spokeswoman for the ...

Bloomberg Americans are expected to continue with their travel plans for the Christmas holiday with more than a million air passengers per day anticipated for several days during the holiday period, David Pekoske, administrator of the Transportation Security Administration (TSA), said during an aviation event. Americans plan to travel despite Center for Disease Control advice to stay at home and ...

Bloomberg American Airlines Group is expanding pre-flight coronavirus testing in an effort to boost demand for domestic travel. At-home tests would enable passengers with negative results to avoid or shorten Covid-19 quarantines and other restrictions at US destinations with travel requirements, American said in a statement. Starting from December 9, customers started having access to tests provided by LetsGetChecked for ...

Bloomberg Global stocks climbed towards another record high as hopes for a US stimulus deal countered concern about a surge in coronavirus cases. Treasuries slipped with the dollar. Cyclical banking and energy firms led European shares higher at the opening, after equities rose in much the Asia Pacific. Britain’s pound rallied as UK Prime Minister Boris Johnson was expected to ...

Bloomberg More than $722 billion worth of Chinese stocks will be unlocked for sale next year, testing a market where valuations are at a five-year high. That would be the largest amount since at least 2011, according to China Merchants Securities Co. It’s also equivalent to about 7% of the value of the entire Chinese equity market, data compiled by ...

MONTREAL / WAM Salvatore Sciacchitano, President of the International Civil Aviation Organisation (ICAO) Council, said that innovation will play a key role in the aviation sector’s recovery strategies. “Looking forward to a post-pandemic world, innovation will be at the very heart of the new era in aviation which is now dawning,” said Sciacchitano in a statement on the International Civil ...