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

Bloomberg JetBlue Airways Corp. is placing a big bet on Airbus SE’s newest jetliner. The carrier is ordering 60 of Airbus’s A220 jets, the freshly rechristened plane formerly known as Bombardier Inc.’s C Series. July 10’s sale, valued at $5.4 billion based on list prices before customary discounts, is the first since Airbus took control of the aircraft programme from ...

Bloomberg China Eastern Airlines Corp., one of the nation’s top three carriers, is raising as much as $2.2 billion from a sale of shares to help fund purchases of aircraft and engines as the company expands its fleet to meet surging demand for air travel. The state-owned airline proposes to sell as many as 1.62 billion shares on the mainland ...

Bloomberg UK grocer J Sainsbury Plc named Martin Scicluna as its chairman, tapping a former senior executive at accounting firm Deloitte as it prepares to add Walmart Inc.’s Asda unit in a $9.7 billion deal. Scicluna, who is also chairman of RSA Insurance Plc, will replace David Tyler in March or soon after, following a five-month handover period, Sainsbury said. ...

Bloomberg Airbus SE and Boeing Co. split firm orders for 19 jets from the Indian affiliate of Singapore Airlines Ltd. that is seeking to start international flights and bolster local operations. Vistara, as the airline is known, will buy 13 of the A320neo and A321neo jets that have a list price starting at about $111 million each and six Boeing ...

Bloomberg South African Airways (SAA) pledged to urgently begin a search for a private-sector partner to help turn around the troubled state-owned carrier and ease the burden on an already stretched National Treasury. The assurance followed an attempt by the Solidarity union to end SAA’s reliance on state funding and push the airline into business rescue. The carrier hasn’t made ...

Bloomberg A charter plane crashed at an airport near the South African capital of Pretoria, injuring about 20 people, according to emergency services. One person died, News24 reported. “Initial reports show that approximately 20 people had sustained injuries ranging from minor to critical,” ER24 said. “The details surrounding this incident are not yet known to our paramedics.” While the aircraft ...

DUBAI / WAM Rapid adoption of artificial intelligence (AI) solutions will increase the UAE’s GDP by $96 billion by 2030, enabling organisations to better meet and predict customer and citizen trends and drive digital business innovation. As the UAE Strategy for AI guides nationwide transformation, AI and machine learning are entering the mainstream. PwC predicts that AI will contribute $96 ...

ABU DHABI / Emirates Business Meraas has announced a series of major projects aimed at boosting the tourism sector in Hatta and advancing the social and economic development of the area. The move aligns with the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, which include ...

DUBAI / WAM The Federal Electricity and Water Authority (FEWA) signed an agreement with the Commercial Bank International (CBI) under which the bank will provide bill payment services to its customers through its branches within and outside the UAE. The agreement was signed by Sheikha Murad Al Blooshi, Director of the Revenue and Credit Department, and Shaker Zainal, Head of ...

Bloomberg OPEC and its allies are doing what they can to offset crude output shortfalls that have kept global supplies tight and prices high, but they don’t want to overdo it. That was the message from United Arab Emirates Energy Minister Suhail Al Mazrouei after being asked about US President Donald Trump’s call for the group to do more. He ...