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

Britain’s guidance on where Brits can go on holiday is about as clear as a pair of sunglasses smudged with sunscreen. This is creating headaches for everyone: people trying to plan vacations; countries like Spain and Greece that depend on summer tourists; and travel companies such as EasyJet Plc, Ryanair Holdings Plc and TUI Plc. Johan Lundgren, chief executive officer ...

Cars are about to get a lot more expensive. Manufacturers and drivers should brace themselves. The price of everything that goes into a vehicle is going up. Raw materials — from the steel used for bodies, gear parts and frames to the plastic that winds up in bumpers and doors trims — account for a big portion of manufacturing costs. ...

With the volatility of cryptocurrencies likely to persist — Bitcoin alone traded in a $30,000-to-$44,000 range last week — more people are wondering whether this will spell trouble for other financial assets such as stocks and bonds. The answer to this “crypto contagion” question, if considered narrowly, is no. It gets more complicated, however, in the broader market context, particularly ...

Good luck finding a major bank in Europe that hasn’t breached money laundering regulations. In Denmark, the two largest banks, Danske Bank and Nordea, are both currently subject to criminal investigations. BNP Paribas received the highest-ever fine in 2014, when it settled with US authorities and had to pay $9 billion for sanctions violations. Many others — from HSBC and ...

Bloomberg A good decade ago, Airbus SE added more fuel-efficient engines to its A320 aircraft family, giving its already bestselling model a dramatic demand boost. Now the European company is seeking to repeat that success, this time with a new set of wings. Airbus aims to produce a composite wing that’s both affordable and capable of a high production rate, ...

Bloomberg Auchan Retail is considering selling its stake in a group of RT-Mart-branded stores in Taiwan and is seeking $300 million to $400 million, people familiar with the matter said. The French supermarket chain is working with an adviser to find a buyer for its 65% stake in the retail locations, the people said, asking not to be identified as ...

Bloomberg McDonald’s Corp is planning for fully reopened dining rooms in the US this summer, though it’s running into opposition from some franchisees who say they don’t have enough staff or interested diners to make it worthwhile. The company said that while it isn’t setting a hard deadline for franchises, it’s aiming for a rolling re-opening between now and the ...

Bloomberg Under Armour Inc is boosting hourly wages to better attract and keep the employees it needs to expand its online business. The sportswear retailer said it’s raising the minimum wage for all US employees to $15 an hour starting from June 6 — an increase of as much as 50% for some staff. Canadian workers will also get a ...

Bloomberg Singapore closed two shopping malls on the western part of the island for two weeks after 10 recent Covid-19 infections were linked to the properties. “Our epidemiological investigations have found that there is likely ongoing transmission among individuals who visited these malls,” the Health Ministry said in a statement. “To break any potential chain of transmission and enable deep ...

Bloomberg Genesco Inc appointed three new directors as the shoe company tries to fend off an activist investor seeking to take control of the board. The owner of footwear retailers such as Journeys and Johnston & Murphy said it appointed former Deckers Brands Chief Executive Officer Angel Martinez, Valvoline Inc executive Mary Meixelsperger and Greg Sandfort, the former CEO of ...