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

Bloomberg The Federal Reserve can “sit back” and allow the economy to keep growing because there are no signs of overheating, said Federal Reserve Bank of Atlanta President Raphael Bostic. “The economy is doing fine,” he told the Rotary Club of Atlanta. “There is not a lot that we have to do to stimulate or slow down. We’re not seeing …

Bloomberg London’s Heathrow airport has deployed a system designed to block drones entering its airspace following a string of recent attempts that threatened Europe’s busiest travel hub. The airport, classified as a flight restriction zone by authorities, is now using a product manufactured by France’s Thales SA to detect and identify drones. The French company declined on Tuesday to detail …

Bloomberg Vietnamese conglomerate Vingroup JSC is abandoning plans to launch Vinpearl Air so it can focus on other businesses, including electric vehicle manufacturing. “The aviation market of Vietnam has a lot of potential and is developing strongly, but it also has large companies already in operation,” Vingroup Vice Chairman Nguyen Viet Quang said in an email statement. “Vingroup’s strong investment …

Bloomberg Chow Tai Fook Jewellery Group Ltd said it plans to shut about 15 of its Hong Kong stores after their leases expire this year, in a sign that major retailers are starting to withdraw from the city’s economy as anti-China protests continue. In the first significant pullback by a luxury retailer after months of fiery demonstrations that have driven …

Bloomberg With UK airline Flybe Group Plc teetering on the brink of collapse, prime minister Boris Johnson faces a dilemma. Should the government stick to its long-held policy and let market forces take their course, or step in and help Flybe owners including Virgin Atlantic Airways and private-equity firm Cyrus Capital with a rescue? The decision would normally be a …

Bloomberg Shares of Ryohin Keikaku Co tumbled 19%, the most on record, after the Muji operator cut its profit forecast, citing uncertainty in its East Asian operations. The retailer of everything from furniture to clothing and food lowered its full-year operating profit target 17% to 37.8 billion yen ($343 million). It reported third-quarter operating profit of 9.2 billion yen versus …

Bloomberg The United Arab Emirates will invest $22.8 billion in Indonesia through a sovereign wealth fund being set up by President Joko Widodo as the Southeast Asian nation seeks to finance billions of dollars of infrastructure and energy projects. The UAE plans to invest in building Indonesia’s new capital and also develop properties in Aceh province, the cabinet secretariat said …

Bloomberg India’s consumer price inflation hit a more than five-year high, boosting the case for the central bank to keep interest rates on hold for longer and possibly putting at risk its accommodative stance. Data on Monday showed inflation breached the upper end of the Reserve Bank of India’s (RBI) 2%-6% target band as it accelerated to 7.35% in December …

Bloomberg Saudi Arabia’s energy minister said that Opec and its allies remain focused on using production cuts to reduce oil inventories to normal levels, undeterred by the flare up of political tensions in the Middle East. Oil prices have erased all of this year’s rally, which saw Brent crude surge to a three-month high of almost $72 a barrel. Opec …

Bloomberg Canadian natural gas is trading at the highest price relative to US benchmarks in about 10 months after producers cut back on drilling and a rule change on a key Alberta pipeline system last year helped better manage flows of the fuel. The discount on gas traded at Alberta’s AECO hub versus the Henry Hub in the US shrank …