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

Bloomberg Grupo Aeromexico SAB is readying itself for a shopping spree to update its fleet of short-haul jets. Mexico’s sole legacy carrier is poised to choose this year between Embraer SA E195-E2 aircraft and Airbus SE A220 models, Chief Executive Officer Andres Conesa said. The order would potentially be for 60 planes to overhaul the existing regional fleet of Embraer ...

Bloomberg Walmart Inc appears be pondering whether to test waters in the world of cryptocurrencies, following the steps of Facebook Inc. The retailing giant applied to patent a way to use a digital coin tied to a traditional fiat currency, which could allow for cheaper and faster transactions as well as loyalty features, according to a filing by the US ...

Bloomberg Ryanair Holdings Plc’s planned cull of pilots has reached the Irish group’s Austrian subsidiary, with workers there told that the positions of 30 flight-deck crews are at risk. Laudamotion Chief Executive Officer Andreas Gruber said in a letter to employees that the jobs will need to go if an agreement on savings and new flight rosters can’t be reached ...

Bloomberg Air Canada has removed the Boeing 737 Max from its schedule until January pending regulatory approvals, joining Southwest Airlines Co in scrapping plans for flights of the jetliner into 2020. Canada’s largest carrier said the grounded jets will reduce capacity and curb earnings growth in the third quarter, even as the company posted profit that beat analysts’ estimates for ...

Bloomberg The University of California is looking to halt imports of vintage-style LED light bulbs that are sold at five of the nation’s biggest retailers, including Walmart Inc, Target Corp and Amazon.com Inc. The University of California Santa Barbara says the retailers should be paying it royalties from sales of the bulbs. Bed Bath & Beyond Inc and Ikea of ...

Bloomberg US President Donald Trump said “things are going along very well with China,” and repeated his contention that Beijing is paying the US “Tens of Billions of Dollars” after successive rounds of import tariffs. This was “made possible by Chinese government’s monetary devaluations and their pumping in massive amounts of cash to keep their system going,” Trump said in ...

ABU DHABI / WAM In collaboration with the local customs administrations, the Federal Customs Authority initiated the executive procedures to unify customs system across the UAE. The move is meant to authorise common customs electro-nic system within all local customs administrations as well as border zones in order to contribute to cementing the security scheme, facilitate trade, simplify clearing procedures, ...

Abu Dhabi / Emirates Business A delegation from the Abu Dhabi Securities Exchange (ADX), headed by HE Khalifa Salem Al Mansouri, Acting Chief Executive of ADX, visited the Shanghai Stock Exchange. The visit comes as part of the framework of strengthening the comprehensive strategic partnership between the financial markets and exploring and enhancing the partnership and cooperation opportunities for investors ...

RAS AL KHAIMAH / WAM So far 33 countries have confirmed their participation in the first and largest international exhibition for small and medium-sized enterprises, SMEs, which Ras Al Khaimah will host next November, the organisers said. Mohamed Musabbeh Al Nuaimi, Chairman of the RAK Chamber of Commerce and Industry, which is organising the event, said that the event, which ...

Bloomberg The pound will tumble to the lowest level since 1985 if the UK leaves the European Union without a deal, a prospect that looks more likely now than six months ago, according to a Bloomberg survey of analysts. There is now a 30 percent chance that Britain will exit the bloc in October without a divorce agreement, the poll ...