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

BLOOMBERG Australia should consider extending a ban on TikTok from government devises to include WeChat, a panel of lawmakers said, in the latest move from Canberra to crack down on potential influence linked to Beijing. A Senate committee urged sweeping changes to Australia’s treatment of major tech firms in its final report. Among proposals are stricter transparency requirements on ownership ...

BLOOMBERG Results from Apple Inc and Amazon.com Inc after the recent close represent the next big hurdle for the market’s tech-fueled rally, and it may be the hardest to clear. Both stocks have been critical to the S&P 500’s advance this year, attracting investors with their relatively durable revenue streams and market dominance. But whether they can fuel further gains ...

BLOOMBERG India’s state-controlled nuclear power industry is considering allowing greater participation of private firms, with an aim to developing small modular reactors to help decarbonise industry. The country is reviewing its six-decade-old atomic energy law to allow more involvement from non-state companies,federal atomic energy minister Jitendra Singh said in a written reply to questions in parliament. India currently allows private ...

BLOOMBERG The UK may need to overhaul its renewable energy subsidy auctions to deliver on its net zero target, according to the head of utility SSE PLC. While Britain has long been the world leader in offshore wind power, projects have been put at risk by rapidly falling subsidies that can’t match rising prices. Swedish developer Vattenfall AB shelved a ...

BLOOMBERG IndiGo, India’s biggest airline, posted record quarterly profit in the three months through June, as the demand for travel surged and a smaller competitor’s insolvency funneled a windfall of business. The carrier reported net income of 30.87 billion rupees ($374 million) in the quarter, almost double analysts’ forecast of 17.6 billion rupees, it said in a stock exchange filing. ...

BLOOMBERG An airline established by Ethiopian Airlines Group in partnership with institutional investors and the Nigerian government plans to start operations in the West African nation as early as October. The airline, named Nigeria Air, will start with a combination of two wide-bodied planes and six narrow-bodied aircraft, Mesfin Tasew, chief executive officer of Ethiopian Airlines said in an interview ...

BLOOMBERG India’s top court stayed Rahul Gandhi’s conviction in a high-stakes defamation case, enabling the opposition leader to seek his reinstatement as a lawmaker and to contest general elections due next year. In their judgment, a three-person Supreme Court bench said that Gandhi’s conviction impacts not only him, but also “the rights of the electorate who have elected him to ...

BLOOMBERG Former Thai Prime Minister Thaksin Shinawatra appeared in Cambodia to celebrate the birthday of the nation’s leader, after delaying a return to his home country amid political turmoil. The 74-year-old, who has lived in self-imposed exile for 15 years, visited the neighbouring nation, ruled by strongman leader Hun Sen, to celebrate the premier’s 71st birthday, according to local news ...

DUBAI / WAM Dubai Customs places utmost importance on training and developing its personnel in various areas of customs work, which has a direct bearing on Dubai’s comprehensive advancement, said Mohammed Al Ghafari, Executive Director of Human Resources Division at Dubai Customs. “The organisation carried out 1,285 training courses during the first half of this year, including 1,136 online courses ...

DUBAI / WAM HH Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance, on Sunday announced the launch of the Ministry of Finance’s Strategic Plan 2023-2026. It is a roadmap to accelerate government performance through financial empowerment, sustainability, innovation, and future foresight, financial leadership and sustainable development. The Ministry of ...