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

BLOOMBERG Germany’s defense chief said the country is prepared to station a permanent brigade of some 4,000 troops in Lithuania to help shore up Nato’s eastern flank against potential Russian aggression. The announcement by Defense Minister Boris Pistorius during a visit to Vilnius represented a more robust pledge after Chancellor Olaf Scholz’s government previously said the German military contingent would ...

BLOOMBERG Airbus SE reigned supreme at the Paris Air show, kicking off with a mammoth 500-plane order from low-cost carrier Indigo. Now all it has to do is find enough workers to build them. Lurking just beneath the spectacle of multi-billion dollar aircraft sales and aerial acrobatics on display outside the French capital is a shortage of parts and labour ...

BLOOMBERG India’s Akasa Air is in talks with Boeing Co to place a small follow-on order for 737 Max single-aisle jets if it can lock down financing, according to people familiar with the matter. The US planemaker is working to finalise negotiations as soon as this week at the Paris Air Show, the people said, asking not to be identified ...

BLOOMBERG Ocado Group Plc shares jumped as much as 47% in London, the most in more than five years, following a Times report on “speculation of bid interest” from technology firms such as Amazon.com Inc in the British online grocer. The report, which did not specify the source of the information, said Amazon and several other tech “heavyweights” were considering ...

BLOOMBERG Fast-fashion giant Shein will strengthen its presence in Europe and Mexico, including selling more locally made products, in a bid to diversify its China-centric supply chain. The company will launch an online marketplace in Mexico this month, where products from third-party sellers can be bought alongside Shein’s own brand of $10 dresses and $12 jeans. That’ll be followed by ...

BLOOMBERG Air-traffic controllers across the US will receive new monthly safety training sessions to address the spike in serious near-collisions on airport runways earlier this year. The Federal Aviation Administration (FAA) is conducting the mandatory training starting in July, the agency said in a press release. The National Air Traffic Controllers Association union is collaborating with the effort, the FAA ...

BLOOMBERG The fortunes of Singapore Airlines Ltd and Cathay Pacific Airways Ltd, the flagship airlines of two of Asia’s most important financial hubs, differed during the pandemic and continue to diverge in its aftermath. Their valuations are revealing — Singapore Air’s market value of $17 billion is almost three times that of Cathay’s. Four years ago the difference was only ...

ABU DHABI / WAM Adnoc Distribution on Monday announced the signing of an agreement with Hindustan Petroleum Corporation Limited (HPCL), one of India’s largest lubricant marketers and fuel retailing companies. The agreement highlights the mutual intent of both companies to explore avenues for expanding their respective international lubricants and allied products businesses in the UAE, India and other potential markets. ...

ABU DHABI / WAM Statistics Centre – Abu Dhabi (SCAD) has released estimates showing that Abu Dhabi’s gross domestic product (GDP) grew by 3.9 percent in the first quarter of 2023 compared to the same period in 2022. This growth was driven by the robust performance of non-oil economic activities in the emirate. The statistics indicate a remarkable 6.1 percent ...

RAS AL KHAIMAH / WAM Leading global innovator in autonomous vehicle technology, BaseTracK, chose the UAE as its research and development base by setting up its office and workshop in Ras Al Khaimah Economic Zone (Rakez). Along with the facility inauguration, BaseTracK unveiled its first local autonomous truck at an immersive test-drive event in Al Hamra, marking a significant milestone ...