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

Bloomberg More than 2,500 Boeing Co 737 jets in the US will have to be inspected after the company and regulators discovered a potential flaw in a pressure switch that could lead to pilots becoming incapacitated. The Federal Aviation Administration (FAA) said airlines and operators should inspect cabin pressure switches, which help ensure there’s sufficient air to breathe as planes ...

Bloomberg Lulus, the online retailer that focuses on female apparel, is planning an initial public offering this year, according to people with knowledge of the matter. The Chico, California-based company is working with Goldman Sachs Group Inc and Bank of America Corp on the planned listing, said the people who asked not to be identified discussing private information. The company ...

Trade in coal and steel powered the European Union’s formative years. Now the bloc wants to lead the world on climate responsibility, with a bumper package of proposals from expanding an emissions-trading system to banning fossil fuel cars to reach its 2050 target of carbon neutrality. But for all the aspirational visions, there are justified jitters that the European project’s ...

Facebook Inc is betting big to get its piece of the creator economy. But even for a dominant technology platform, money alone doesn’t guarantee success. The company announced plans to pay more than $1 billion to creators by the end of 2022 for making content on its platforms — from providing initial seed money to giving bonuses based on certain ...

As of July 19, people in England will be able to host house parties and weddings with unlimited guests, crowd into music and sporting venues. It’s the summer of fun that young adults and teens have been yearning for. But will they really be able to enjoy it, and at what cost? As Covid cases soar again, many millennials and ...

The unrest on Cuba’s streets is the biggest challenge to the country’s communist government in decades. And it poses a dilemma for the Biden administration, which previously said it wants to ease US sanctions against the Cuban regime. President Biden needs a way to maintain pressure on the government while moderating penalties that have unavoidably worsened the economic plight of ...

Bloomberg A heat wave across some of China’s biggest industrial provinces has pushed local electricity consumption to unprecedented levels, sending thermal coal futures toward record highs. The power load in the eastern province of Zhejiang near Shanghai surpassed 100 million kilowatts per hour for the first time, the State Grid said in its newspaper. Usage has also hit records in ...

Bloomberg Pembina Pipeline Corp said it wasn’t going to sweeten its bid for Inter Pipeline Ltd one day after a new hostile offer for Canada’s fourth-largest midstream company was made by Brookfield Infrastructure Partners LP as the takeover battle intensifies. The Canadian pipeline company doesn’t intend to increase or change the 0.5 common Pembina shares offered under its proposed acquisition ...

Bloomberg Royal Dutch Shell Plc and Iberdrola SA’s ScottishPower unit are teaming up to bid to build what could be the world’s largest wind farms that float in the sea. The companies submitted proposals for multiple floating projects off the coast of Britain as part of Scotland’s process to lease its seabed to renewable energy developers, according to a statement. ...

Bloomberg President Joe Biden says his foreign policy focus is on dealing with the challenges posed by China and rebuilding frayed alliances in Asia and Europe. Latin America is putting those priorities to a test. From political protests in Cuba to a presidential assassination in Haiti and the migration crisis on the southern border, the Biden administration is finding it ...