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

Bloomberg Indonesia’s flag carrier PT Garuda Indonesia said it unilaterally ended a Bombardier leasing contract with Nordic Aviation Capital A/S and will return a dozen CRJ jets amid an ongoing bribery probe. The airline terminated the contract after a series of negotiations on price with Nordic Aviation yielded no satisfactory results, according to President Director Irfan Setiaputra. The 12 planes ...

Bloomberg The UK’s latest clampdown on air travel was met with alarm by industry executives, who called the restrictions complex and said they fear a worsening struggle for survival. Health Secretary Matt Hancock outlined details of new restrictions, including a hotel quarantine and multiple Covid-19 tests, coming into force from February 15 in an attempt to prevent dangerous new virus ...

Bloomberg Singapore Airlines Ltd is swapping some of its Boeing Co wide-body jetliner orders for the larger 777X, giving a boost to the model as part of an agreement to slow near-term deliveries from the US planemaker. The airline will pare commitments for the Boeing 787-10 Dreamliner by 14 planes, while adding 11 777-9s to its existing order, according to ...

Bloomberg The investigation into last month’s Sriwijaya Air crash in Indonesia is focusing on the carrier’s maintenance and training procedures as well as the engine-control system of the Boeing Co 737-500 jet. While Indonesia’s National Transportation Safety Committee (NTSC) is still trying to determine the exact cause of the disaster, lead investigator Nurcahyo Utomo said at a media briefing on ...

Bloomberg England’s third lockdown hit non-essential retailers harder than the previous one in November, with the new variant of the coronavirus hampering spending and confidence last month, according to the British Retail Consortium. Clothing and footwear stores fared particularly badly as retailers on the whole saw the value of sales decline from a year earlier, the business lobby said. A ...

Bloomberg Thai pro-democracy groups have vowed to intensify their protests calling for monarchy reform and a new constitution, a day after a Bangkok court sent four of their leaders into pretrial detention on royal defamation charges. Thousands of demonstrators gathered on Wednesday in central Bangkok for a second day to demand the immediate release of leaders, and to protest the ...

Bloomberg Pro-democracy protesters in Myanmar appealed directly to Chinese President Xi Jinping to withdraw his government’s support for the country’s powerful military as mass demonstrations swept cities and towns for a fifth straight day. Outside China’s embassy in Yangon on Wednesday, demonstrators pleaded with Xi to help reverse last week’s military coup, while others held signs reading “we are watching ...

Bloomberg Ethiopia is going ahead with plans to close two camps run by the United Nations’ refugee agency in Tigray region, saying one is too close to the Eritrean border and the other is in an inhabitable location. Hitsats and Shimelba camps were heavily damaged in Ethiopia’s conflict in the northern region and the 20,000 refugees that sheltered there fled ...

Bloomberg The Reserve Bank of India (RBI) will seek to buy more than 3 trillion rupees ($41 billion) of sovereign bonds in the next fiscal year to support the government’s borrowing plans, according to a person with knowledge of the matter. That will exceed the 3 trillion rupees the RBI is expected to spend for the current year ending March. ...

Bloomberg Societe Generale SA vowed to return capital to investors even as it ended its first losing year in more than three decades with a slump in trading. In contrast to double-digit trading gains at Wall Street peers, SocGen saw equities trading — its traditional strength — falls 7% from a year earlier and fixed-income revenue drop 16%. Net income ...