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

Bloomberg Virgin Atlantic Airways Ltd. is set to raise 160 million pounds ($223 million), as part of a financing package to sustain the carrier ahead of the expected reopening of international travel in the coming months. Richard Branson’s Virgin Group is set to provide the bulk of the funds, putting up about 100 million pounds. Another 60 million pounds will ...

Bloomberg British Airways called on Prime Minister Boris Johnson’s government to set a firm plan for resuming international flights, including timelines and conditions the airline can use to plan ahead for summer season. IAG SA’s flagship airline is seeing a “great demand to travel and a real desire to allow British people to travel,” said Sean Doyle, BA’s chief executive ...

Bloomberg Shoprite Holdings Ltd. switched its focus firmly towards taking market share in its home market of South Africa, after opting to withdraw from Nigeria and Kenya and move more cautiously in Angola. The more guarded approach comes after the continent’s biggest supermarket chain struggled with supply disruptions and getting money out of some countries. The company is seeking to ...

Bloomberg The UK plans to bolster its stockpile of nuclear weapons to counter growing threats around the world, Prime Minister Boris Johnson announced as he unveiled a radical overhaul of defense and foreign policy. Under a blueprint for the next decade, the UK will cut troop numbers, tanks and some fighter jets, according to a person familiar with the matter, ...

Bloomberg China warned the European Union (EU) not to interfere in its national security affairs, saying any sanctions over human rights abuses — based on “lies” — could fuel the confrontation. “I am deeply concerned about possible sanctions,” China’s ambassador to the EU, Zhang Ming, said during a European Policy Centre event on Tuesday. “If some insist on confrontation, we ...

Bloomberg Russia condemned the US for applying diplomatic pressure on Brazil to reject its Sputnik V Covid-19 vaccine, adding that attempts at political meddling in inoculation campaigns were costing lives. The US Department of Health and Human Services said in its annual report published in January that its Office of Global Affairs sought to persuade Brazil not to allow the ...

Bloomberg US relations with China won’t improve until Beijing stops its economic coercion against America’s close regional ally, Australia, a senior aide to President Joe Biden told the Age newspaper. The administration has told the Chinese government that the US wasn’t going to leave Australia alone on the field, Kurt Campbell, the National Security Council’s Asia coordinator, said in an ...

Bloomberg Malaysia’s opposition leader Anwar Ibrahim said no more lawmakers will leave the party for the ruling government, adding that members remain steadfast in the wake of defections. “We are not going to compromise on the values and principles that the party has adopted so far,” he said at a media briefing on Tuesday. “Our party members will remain steadfast ...

Bloomberg UK trade with the European Union (EU) deteriorated in the first month since the Brexit split, suggesting commercial relations between the two economies will suffer more than the British government advertised. UK goods exports to the EU fall almost 41% in January from a month earlier, while imports from the bloc dropped 29%, data from the Office for National ...

Bloomberg US job listings that tout working remotely as a perk have more than doubled in the past year, signaling that top companies will keep using the benefit to woo employees even as the pandemic winds down, according to job-search site Indeed. As of February, 6.9% of Indeed job postings cited remote work as an option, compared with 2.9% in ...