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

Administrations come and go, but CEOs like Apple Inc’s Tim Cook know there’s no better way to wave the flag than to flash the wallet, whoever is in charge. Apple Inc said it was raising its US investment commitments by 20% over the next five years to $430 billion. The new figure, which includes spending with American suppliers, building data ...

It’s the American Dream for Europe’s troubled tourism sector. European Commission president Ursula von der Leyen told the New York Times that fully vaccinated American tourists could visit the bloc this summer. But the US accounts for a tiny proportion of travelers to tourist-dependent countries such as Greece, Spain, Portugal and Italy. To prevent another lost holiday season for these ...

Heh. Come on. Really? Year over year, positive impacts from volume growth, regulatory credit revenue growth, gross margin improvement driven by further product cost reductions and sale of Bitcoin ($101M positive impact, net of related impairments, in “Restructuring & Other” line) … [Emphasis mine.] You might be surprised to learn that’s a snippet from the earnings report of a car ...

Even if President Joe Biden had no ground to make up — if his predecessor hadn’t pulled the US out of the Paris climate agreement and done his best to stop all progress toward climate protection — he still would have needed an aggressive new target for lowering emissions. The country’s previous Paris commitment was too modest for the US ...

Bloomberg Even as the coronavirus pandemic continues to rage in many corners of the world, places that have successfully vaccinated a substantial share of the population are plotting the next step: how to let people start traveling again, whether for beach vacations or board meetings. By early summer, countries of the European Union and beyond aim to issue vaccine passports ...

Bloomberg London’s Heathrow airport will be allowed to increase airline fees on a limited basis to help it ride out the coronavirus crisis, the UK’s aviation regulator said. Heathrow can claw back 300 million pounds ($416 million) after submitting an application to recover 2.6 billion pounds, the Civil Aviation Authority (CAA) said. While its full request will be considered in ...

Bloomberg Australia is banning all flights from pandemic-ravaged India until at least May 15 as the South Asian nation battles what PM Scott Morrison described as a “terrible crisis.” In a bid to ease pressure on Australia’s system of mainly quarantining returned residents from overseas in inner-city hotels, Morrison had already announced a 30% cut in flights entering from India. ...

Bloomberg Pick n Pay Stores Ltd’s next chief executive officer, Pieter Boone, plans to accelerate his predecessor’s eight-year turnaround of the South African grocer by focusing on stores that cater for lower-to-middle income consumers and by boosting online sales. “Pieter speaks of evolution and acceleration, rather than revolution,” David North, Pick n Pay’s executive for strategy, said in an interview. ...

Bloomberg L Brands Inc’s Victoria’s Secret has restarted talks with buyers about a potential sale, and is seeking more than double the $1.1 billion value it had last year in a failed deal, according to people familiar with the matter. After strong recent sales, the company could now target a valuation of at least $2 billion to $3 billion in ...

Bloomberg Interjet shareholders unanimously voted to approve a filing for bankruptcy protection, a move that would enable the Mexican airline to resume payments to employees that have been frozen for several months. Alejandro del Valle, who took a 90% stake in the carrier late last year, led discussions over the filing with former majority owners and founders Miguel Aleman Magnani ...