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

Bloomberg Investors are punishing markets where policy makers haven’t done enough to stem deteriorating current-account balances, ballooning inflation and a run on their currencies. They became unforgiving as rising Treasury yields and a stronger dollar put the case for riskier investments in the balance. Money is no longer cheap or plentiful, and low-quality investments burdened by policy baggage are being ...

Bloomberg Grupo Aeromexico SAB, Mexico’s largest airline, is trimming its expansion plans as a seating glut drags down fares. Capacity will expand 7 percent the rest of this year, said Chief Executive Officer Andres Conesa. That’s down from a previous forecast of about 9 percent, he said, citing the need for increased discipline as rising fuel prices add to earnings ...

Bloomberg Jet Airways India Ltd. will offer the first ever direct flights from Mumbai to northern England with services to Manchester starting in November. The carrier will initially connect the cities four times a week using 254-seat Airbus SE A330-200s, with a daily service planned with the start of next year’s summer schedule in March, it said. Jet currently serves ...

Bloomberg South African Airways said executives will meet National Treasury officials every two weeks to address urgent funding needs after the embattled national airline reported a seventh consecutive year of losses — and the worst since 2015. The carrier’s precarious balance sheet is among the most urgent tasks on the to-do list of Finance Minister Nhlanhla Nene, who is already ...

Bloomberg JetBlue Airways Corp. is promoting Joanna Geraghty to president, tasking her with running day-to-day operations while freeing up Chief Executive Officer Robin Hayes to focus on long-term planning. Geraghty, 45, will also oversee the airline’s commercial team, JetBlue said in a statement. Hayes, 51, will manage efforts to improve profit margins and the company’s expansion into related travel and ...

Bloomberg At Zara’s new flagship store in London, shoppers can swipe garments along a floor-to-ceiling mirror to see a hologram-style image of what they’d look like as part of a full outfit. Robot arms get garments into shoppers’ hands at online-order collection points. iPad-wielding assistants also help customers in the store order their sizes online, so they can pick them ...

ABU DHABI / WAM The UAE gives proper attention to systems of measurements as part of its efforts to support science and technology and quality infrastructure, stated Abdullah Al Maeeni, Director-General of the Emirates Authority for Standardisation and Metrology (ESMA). Speaking ahead of World Metrology Day, Al Maeeni said the UAE joined the International Bureau of Weights and Measures (BIPM) ...

GENEVA / WAM The UAE participated in the 2nd edition of the AI for Good Global Summit, which was organised by ITU in Geneva, in partnership with other UN organisations. Addressing the three-day event, Omar bin Sultan Al Olama, Minister of State for Artificial Intelligence, spoke about the UAE’s role in leading the international drive for AI governance to serve ...

ABU DHABI / Emirates Business The tourism industry in the Middle East and North Africa (Mena) region is expected to reach $350bn by 2027, according to Mena Research Partners, a leading research company in the region. The UAE and Saudi Arabia are expected to grow at a CAGR of 5% over the next 10 years. Currently, the UAE and Saudi ...

Sharjah / Emirates Business Sharjah Investment and Development Authority (Shurooq) has signed a Memorandum of Understanding (MoU) with REI Holding Group and Haewon Medical Foundation Sejong General Hospital to establish the first Korean hospital in Sharjah. The signing ceremony took place in the South Korean capital Seoul, where HE Marwan bin Jassim Al Sarkal, as well as several representatives from ...