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

Bloomberg As most Britons were clearing the shops of pasta, toilet paper and painkillers to weather the coronavirus outbreak, Jenny Yeo’s thoughts were elsewhere: her daughter’s room, which she’d been planning to decorate. The barrister from Penarth, south Wales, headed to her local branch of home improvement store B&Q and spent 200 pounds ($240) on paint, wallpaper and wood paneling. ...

Bloomberg Ethiopian Airlines Group has lost over $190 million as the impact of the coronavirus on global travel hurts Africa’s only consistently profitable airline. “Under the current situation, it is facing huge challenges,” Ethiopian Prime Minister Abiy Ahmed said in a televised address to the public. The carrier has suspended flights to 30 destinations as demand collapses and some countries ...

ABU DHABI / WAM The people of the UAE are very grateful to the leadership’s wise vision in dealing with the global pandemic coronavirus (Covid-19) said Saqr Ghobash, Speaker of Federal National Council (FNC). In a statement on Saturday, Ghobash said, “The UAE has become a global model in successful crisis management, thanks to the directives and continuous support of ...

Bloomberg Oil demand is plummeting — some traders say by 10 to 20 million barrels a day, or a fifth of global consumption — as millions find themselves in lock-down or self-isolating, causing travel to grind to a halt. “Demand has been decimated in short term,” said Andy Hall, one of the most successful oil traders of his generation until ...

Bloomberg Australia plans an additional A$66 billion ($38.2 billion) in stimulus for the coronavirus-stricken economy, including cash payments of as much as A$100,000 to small businesses, in a second package aimed at averting recession and savings jobs. The plan, to be announced by Prime Minister Scott Morrison on Sunday, will provide A$25.2 billion in support to businesses and not-for-profit charities. ...

Bloomberg Boeing Co. is edging closer to winning a government bailout as the once-mighty company races to secure a lifeline amid the aviation industry’s worst crisis in decades. Backstop financing would start to slide into place next week if the US Congress approves a Senate Republican proposal to provide as much as $208 billion in collateralised loans and loan guarantees ...

Abu Dhabi / WAM The Abu Dhabi Department of Education and Knowledge (Adek) has been working closely with private schools and technology partners in the past two weeks in an effort to prepare Abu Dhabi schools for the kick-off of distance learning, starting March 22. This follows the UAE Ministry of Education’s decision to temporarily suspend schools as a preventative ...

ABU DHABI / Emirates Business “Water security is a priority for Abu Dhabi and the emirate is committed to determining the best ways to make optimal use of natural and desalinated water resources, as part of an ambitious plan to develop projects that ensure sustainable water supply for future generations,” said His Excellency Eng. Mohammed bin Jarsh Al Falasi, Undersecretary ...

ABU DHABI / WAM The General Headquarters of Abu Dhabi Police announced a three-month extension of the 50 per cent discount on traffic violations committed in the Emirate of Abu Dhabi, except those categorized as ‘dangerous’, to Junes 22. All black points and vehicle impoundments due before June 22 will also be cancelled. The Abu Dhabi Police called on all ...

ABU DHABI / WAM Autoterminal Khalifa Port, a joint venture between Abu Dhabi Ports and Autoterminal Barcelona, the operator of the advanced RoRo terminal at Khalifa Port, has unveiled an all-new technical centre aimed at diversifying the portfolio of services on offer to customers. As the first facility of its kind in the region, the centre provides a wide range ...