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

BLOOMBERG Berlin’s main airport cancelled all departing flights on Monday amid another round of strikes by ground crew, underscoring ongoing labour tensions in Germany’s travel sector as the crucial summer travel season looms into view. Berlin Brandenburg airport said no departures were possible due to a one-day strike by security control staff. The disruption is the latest to hit a ...

BLOOMBERG Czech investor Daniel Kretinsky proposed a €1.1 billion ($1.2 billion) equity investment in debt-laden French grocery operator Casino Guichard-Perrachon SA that could end Jean-Charles Naouri’s control over the struggling company. Kretinsky would invest as much as €750 million in a reserved capital increase, Casino said. Under his proposal, Fimalac, another Casino shareholder, would be able to put in as ...

BLOOMBERG Indian and Chinese military commanders met along their Himalayan border over the weekend ahead of a planned meeting of their defense ministers at a Shanghai Cooperation Organization session later this week, officials with knowledge of the matter said. The neighbours, who share a 3,488 kilometre (2,167 miles)-long disputed border, have been locked in their worst dispute in four decades ...

BLOOMBERG The biggest two-day slide in Chinese stocks this year suggests traders may be losing faith in the market’s rebound as they reassess inherent risks including geopolitical tensions and a fragile economy. The CSI 300 benchmark has closed 1.2% lower to breach a key technical level, led by declines in technology and materials shares. That added to a 2% drop ...

BLOOMBERG European stocks and US equity futures struggled for direction as traders weighed the latest corporate earnings reports at the start of a week packed with economic data that may help illuminate the path for interest rates. The Stoxx Europe 600 was little changed, with energy companies leading declines as crude prices extended last week’s slump. Banks gained, with UBS ...

 DUBAI / GULF TIME Ethmar International Holding (EIH) signed a strategic partnership agreement with EFG Hermes, as part of the preparations for listing EIH as a joint stock company in the UAE stock market. The partnership agreement, whereby EFG Hermes will act as a strategic partner during the private offering process, represents a new milestone in the track record and ...

ABU DHABI / WAM UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan exchanged, over the phone, Eid Al Fitr greetings with Mohamed Ould Ghazouani, President of Mauritania; Mohammed Shiaa’ Al Sudani, Prime Minister of the Republic of Iraq; and His Eminence Dr Ahmed el-Tayeb, the Grand Imam of Al-Azhar. During the calls, they prayed to God to bestow His ...

MIYAZAKI / WAM With hunger levels rising and domestic food prices inflation soaring in much of the world, collective actions are necessary to meet immediate and longer-term global food security objectives, QU Dongyu, Director-General of the Food and Agriculture Organisation of the United Nations (FAO), said on Sunday at the G7 Ministers of Agriculture Meeting, which concluded in Japan. “We ...

GENEVA / WAM Hydrogen and electric aircraft could require 600-1,700 terawatt-hours (TWh) of clean energy by 2050, according to a new white paper from the World Economic Forum (WEF). For context, the total amount of renewable energy produced in 2021 was just over 8,000 TWh globally. To meet the estimated energy demand from hydrogen and electric aircraft in 2050 would ...

ISTANBUL / WAM The UAE men’s national ice hockey team registered a historic victory and was crowned winner of the 2023 IIHF Ice Hockey World Championship Division II — Group B, held in Türkiye. The UAE team defeated Mexico 9-4 in the fifth and final round. The national team players erupted in cheers and sang the national anthem in the ...