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

Bloomberg Ethiopian Airlines Group is close to agreeing a deal with Airbus SE for as many as 20 narrow-body A220 planes worth more than $1.6 billion, reviving an earlier plan after a spell using larger Boeing Co 737s. Africa’s biggest and most consistently profitable carrier is in late-stage talks about the purchase of the 100-seater aircraft, which should be completed ...

Bloomberg PT Bukalapak.com raised capital from investors including Indonesian media giant Emtek and South Korea’s Shinhan Financial Group Co, a round of funding that valued the online marketplace at more than $2.5 billion. The Jakarta-based startup, which last month said it would cut about 10 percent of its workforce to focus on profitability, announced the transaction but wouldn’t provide more ...

Bloomberg United Airlines Holdings Inc is escalating efforts to recruit pilots with new financial perks and faster career advancement as the carrier faces the retirement of almost half its aviators over the next decade. The programme, dubbed Aviate, is designed to attract more staff for regional airlines that fly for United, which will then look to field a large portion ...

Bloomberg The Netherlands has created an imbalance in the governance of Air France-KLM, a French government representative said, signalling a power struggle between the carrier’s two biggest shareholders remains unresolved. The Dutch government needs to treat the airline like a normal listed company and choose between holding a stake in the group or in the KLM unit, Martin Vial, head ...

Bloomberg Chancellor Angela Merkel’s sweeping moves to cut carbon emissions from transport took a step closer as details emerged over plans to increase tax on air travel. Germany will raise levies on all flight tickets, both domestic and long-haul trips, according to an air transport bill. The move, taking effect from next year, is a key part of plans to ...

ABU DHABI / WAM The UAE is the top regional contributor and the world’s fifth largest donor to the World Food Programme (WFP), with 2019’s contributions amounting to $270 million, a top WFP official said. “However, the major contribution of the UAE is hosting the WFP over the past 15 years. The UAE is contributing efficiently to our operations in ...

Bloomberg The World Trade Organisation (WTO) gave President Donald Trump the go-ahead to impose tariffs on as much as $7.5 billion worth of European exports annually in retaliation for illegal government aid to Airbus SE. The award is the largest in WTO history — nearly twice as large as the previous record of $4.04 billion set in 2002. The ruling ...

ABU DHABI / WAM Khidmah has won 14 new contracts in Abu Dhabi, Dubai, Sharjah and Ras Al Khaimah. The new contracts have been secured by Khidmah following a highly competitive bid process. In Abu Dhabi, Khidmah won five contracts from the master-developer Aldar Properties in Al Saadiyat Island including the Provision of Hard and Soft FM Services for Mamsha ...

DUBAI / WAM DMCC, the world’s flagship Free Zone and Government of Dubai Authority on commodities trade and enterprise, partnered with Dubai FDI to host a forum on Wednesday under the theme, ‘Advancing the Dubai-China Relationship Through Trade’, as part of the fifth edition of the Dubai Investment Week 2019. The event was held under the patronage of HH Sheikh ...

Bloomberg Oil steadied after sliding for six days in a row as signs of tighter supply in the US and Opec jostled with ongoing concern that a fragile global economy is eroding fuel demand. Futures held near $54 a barrel in New York after falling 8.6% since September 23. The American Petroleum Institute reported that US crude inventories fell by ...