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

Covid-19 is going to kill more people in 2021 than it did last year. If you want to see why, look at what’s happening in India. Cases have been surging in the country of 1.37 billion people. 261,500 new infections were recorded. That’s as bad as the US during all but the worst five days of the pandemic in December ...

From e-commerce firms and payment processors to governments, everyone with half a server and an algorithm wants our data. So it’s a pleasant surprise to see at least one central bank expressly rejecting the idea of sweeping up personal information in designing its electronic cash. The European Central Bank (ECB) “has no interest in monetising or even collecting users’ payment ...

Up to now, President Joe Biden has resisted calls from the left of his party to cancel up to $50,000 of student loans for most borrowers. But the pressure from leading progressives such as Senators Elizabeth Warren and Bernie Sanders, and more recently from Senate Majority Leader Chuck Schumer, isn’t letting up. The president might be tempted to waver. He ...

Uncertainty about federal economic policy is greater than any time in the last 40 years. On one hand we have senior policy makers calling for increasing already massive budget deficits, locking in the loosest imaginable monetary policy for the foreseeable future, and boosting taxes on businesses, Wall Street and the rich if inflation rates spike higher. On the other hand ...

Bloomberg United Airlines Holdings Inc spelled out the travel milestones needed for a return to profitability after posting a bigger-than-expected loss in the first quarter and offering limited insight into its expectations for the summer flying season. The company sees an end to net losses when business and international traffic recover to 65% of 2019 levels, but it didn’t predict ...

Bloomberg Hong Kong banned flights from India, Pakistan and the Philippines for 14 days starting from Tuesday as the city reported the first two cases with highly transmissible virus variant in the community over the weekend. Visitors who have stayed in the three countries for more than two hours in the past 21 days will also be restricted from boarding ...

Bloomberg Indian supermarket-operator Future Retail Ltd approved a debt resolution plan that eases some immediate concerns as a legal battle with partner Amazon.com Inc threatens to delay an asset sale to Reliance Industries Ltd. Future Retail’s board agreed to a proposition to restructure its secured bank debt and three rupee-denominated bonds, according to an exchange filing. The plan, which was ...

Bloomberg Walmart Inc’s new subscription program wants to entice customers with benefits like cheap gas and no checkout lines. But it turns out many members aren’t using them much. About three out of four users don’t take advantage of perks such as less-expensive fuel and Scan & Go technology that allows store shoppers to pay for items on their phone, ...

Bloomberg Air France-KLM Chief Executive Officer Ben Smith indicated the struggling airline could seek a further recapitalisation later this year even after the latest 4 billion-euro ($4.8 billion) rescue from the French government that includes the sale of new shares. “We do have heavy, heavy debt that is holding back our balance sheet,” the CEO said at the virtually held ...

Bloomberg Amazon.com boosted its role as the world’s biggest corporate buyer of green power with a series of deals to help slash the company’s carbon footprint. Agreements to buy renewable energy are an increasingly popular way for big companies to cut emissions. Amazon will use the power from wind farms, solar parks and batteries to run its global operations. “Many ...