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

For all the anxiety about America’s retreat from the world, a vital US institution is becoming more global than ever. While the Federal Reserve’s impulse to juice the economy is laudable, it’s worth asking whether this mission creep is sustainable. Or even desirable, over a long horizon. The Fed, whose policymakers meet this week to set interest rates, lacks a ...

President Donald Trump likes to brag that he’s bringing manufacturing back to the US. And indeed, with global trade slowing, the planet-spanning supply chains that have symbolised modern economic globalisation do appear to be contracting. But don’t be too quick to dismiss the idea of “borderless” production as a 1990s fluke. Even if their reach is more limited than before, ...

If you’re looking for a metaphor for how politics has swamped decision-making at Nissan Motor Co., look no further than reported plans to restructure its cratering global business. Nissan doubled its planned job losses to 12,500 and unveiled new production cuts after reporting a 99 percent plunge in fiscal first-quarter operating profit. The Japanese carmaker is considering reducing production in ...

Tesla Inc.’s earnings calls have lately taken on the trappings of office going-away parties. Just before the Q&A portion of the second-quarter call, CEO Elon Musk announced that JB Straubel, the company’s veteran chief technology officer, would step down to become a senior advisor. This was at least said up front, as opposed to the by-the-way announcement of the CFO’s ...

Bloomberg Southwest Airlines Co is frustrated with the financial beating it’s taking from the grounding of Boeing Co’s 737 Max. But the carrier is ready to grab more of the single-aisle planes that eventually will make up the majority of its fleet. Parking its 34 Max jets since mid-March and missing out on new deliveries has shaved $225 million from ...

Bloomberg Philippine Airlines Inc is expected to name a new president on Monday, replacing Jaime Bautista, who abruptly quit the post last month. Gilbert Santa Maria, who was chief operating officer of IBEX Global Solutions Plc, tops the list of nominees, according to two people familiar with the matter, who declined to be identified because the decision has yet to ...

Bloomberg Just Eat Plc said it’s in talks to be acquired by Dutch delivery company Takeaway.com NV. The UK firm confirmed a Sky News report on the discussions and added that there’s no certainty whether an offer will be made and on what terms, according to an emailed statement. Takeaway.com could make an offer for Just Eat and will have ...

Bloomberg A fight between two billionaire co-founders is threatening to hurt one of the world’s most successful airlines. Rakesh Gangwal, 65, is accusing partner Rahul Bhatia, 59, of corporate-governance transgressions at Indian budget airline IndiGo and wants his powers curbed. Bhatia denies the allegations, and there’s no sign yet that the disagreement is affecting financial performance of the airline, operated ...

Bloomberg Mexico City’s airport authority settled a dispute with builders on an 85 billion peso ($4.45 billion) contract for the terminal at a new Mexico City airport that President Andres Manuel Lopez Obrador canceled a month before taking office. Grupo Aeroportuario Ciudad de la Mexico will pay 14.2 billion pesos, equivalent to 16.7 percent of the contract’s total cost, to ...

ABU DHABI / WAM The UAE on Saturday announced a $50 million donation to the United Nations Relief and Works Agency for Palestine Refugees in the Near East (UNRWA), as part of its commitment to supporting the Palestinian people. With this donation, UNRWA will provide health services to Palestinian refugees —mothers and children — implement educational programmes to ensure the ...