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

The night is darkest just before dawn, they say. Dark it certainly is right now. The more contagious variants of Sars-CoV-2 coming out of the UK and South Africa will make the pandemic worse before mass vaccination can make it better. But take another look at some of these new vaccines. And then contemplate the dawn to come — not ...

The arrests of more than 50 pro-democracy politicians in Hong Kong mark Beijing’s most sweeping attempt yet to redefine the “One Country, Two Systems” arrangement that governed the former British colony’s return to China 23 years ago. They are a challenge to both the incoming US administration of President-elect Joe Biden and the European Union, which concluded an ill-timed investment ...

Bloomberg Boeing Co reached a $2.5 billion agreement to settle a criminal charge that it defrauded the US government by concealing information about the 737 Max, the ill-fated jet model involved in two fatal crashes that killed 346 people. The planemaker entered into a deferred prosecution agreement in the Northern District of Texas. In turn, the Justice Department will dismiss ...

Bloomberg Amazon.com Inc has shuttered Prime Pantry, a grocery and household essentials delivery service that was one of the retailer’s early forays into selling food online. The program closed last week, an Amazon spokeswoman said, and thousands of products previously available under the Prime Pantry banner were folded into the company’s main retail site. Launched in 2014, Prime Pantry featured ...

Bloomberg WestJet Airlines Ltd said it would reduce capacity by a further 30% in February and March, affecting the jobs or pay of roughly 1,000 employees and bringing the number of domestic and international flights it operates down to levels not seen in almost 20 years. The cuts come after Prime Minister Justin Trudeau’s government ordered travellers to present a ...

Bloomberg Ryanair Holdings Plc slashed its winter schedule, while denouncing new coronavirus-related travel restrictions as “draconian” and calling for faster vaccine rollouts in the UK and its home country of Ireland. Europe’s biggest discount airline said it will offer few flights from January 21 until the travel curbs are lifted. The cutbacks go beyond ones made earlier in the week ...

Bloomberg Shopify Inc said it shut down e-commerce stores affiliated with President Donald Trump in response to the storming of the US Capitol by Trump supporters. “We have terminated stores affiliated with President Trump,” a company spokeswoman said by email. “Shopify does not tolerate actions that incite violence.” The shutdown affects the Trump Organization’s official store, TrumpStore.com, and a campaign ...

Bloomberg A top executive at Louis Vuitton and one of Bernard Arnault’s sons are set to take over management of Tiffany & Co after the biggest acquisition in the luxury industry by LVMH. Anthony Ledru will be chief executive officer, with Alexandre Arnault being responsible for products and communications inside the brand, the company said, confirming a Bloomberg report they ...

Bloomberg Kim Jong Un will put North Korea on a path to develop more advanced nuclear technologies and missiles, sending a chilling warning to President-elect Joe Biden that the Asian leader is ready to ratchet up security tensions. Kim called the US a “war monster” and his “biggest main enemy,” at the first Congress of the Workers’ Party of Korea ...

Bloomberg The US charged 55 people with crimes stemming from the siege of the US Capitol and President Donald Trump’s actions ahead of the riot may be investigated by federal prosecutors. Asked whether the US Attorney’s office would scrutinise the president’s role in inciting the storming of the Capitol, Michael Sherwin, the acting US Attorney in Washington, said at a ...