Bloomberg The expected post-Labour Day high-grade borrowing rush is underway, with Target Corp, Walmart Inc, McDonald’s Corp, Lowe’s Cos, and Nestle SA among the companies tapping the US investment-grade market. Eighteen issuers are selling new debt, with more deals possible. Companies are rushing into the market despite increasing volatility and higher borrowing costs over the last several weeks. Syndicate desks …

  Dubai / Gulf Time Alpha Flight Services (Alpha), a leading UAE-based catering, retail, and hospitality services provider, has signed a 10-year concession agreement with Ras Al Khaimah International airport (RKT). The partnership will see Alpha Flight Services invest in infrastructure and provide in flight catering services to more than 10 airlines at the airport. In addition, it will operate …

  Bloomberg Instacart Inc is acquiring Rosie Applications Inc, an online grocery startup focused on local retailers and wholesalers, as it moves to consolidate and expand its share of the online grocery delivery market ahead of an anticipated initial public offering (IPO) this year. Rosie is Instacart’s second acquisition this month, following its purchase of pricing and promotions platform Eversight …

  Bloomberg European stocks pared early gains, with investors cautious before a potential jumbo interest rate hike by the region’s central bank. The Stoxx 600 Index surrendered an initial 0.6% advance as retailers slumped after a profit warning from Primark-owner Associated British Foods Plc. US equity futures were little changed following a near-2% advance in the S&P 500 and Nasdaq …

Bloomberg Asian airline stocks are by far the best performers among global peers this year, racking up gains as most of the region reopens for travel even as China sticks with its Covid-Zero strategy, imposing lockdowns and limiting travel. Airline shares in Asia are the only gainers on a Bloomberg gauge of global carriers, led by Cathay Pacific Airways Ltd, …

  Abu Dhabi / WAM Borouge, a leading petrochemical company providing innovative and differentiated solutions, continues to strengthen its existing value-chain partnerships through several new opportunities in Egypt – a strategic market where the company has long-standing ties. Borouge has contributed to shaping country’s most prominent projects, which are driving demand for energy, infrastructure, and agriculture solutions. In 2020, Borouge …

Manama / WAM Investcorp, a Bahrain-based asset manager which counts Mubadala Investment Company as its biggest shareholder, on Wednesday announced that Investcorp Saudi Pre-IPO Growth Fund LP led the Pre-IPO round in privately-held TruKKer Holding Limited, Mena’s largest digital freight network with a leading position across Saudi Arabia, the UAE, Egypt and neighbouring countries. Investcorp led the initial close of …

Bloomberg Deutsche Lufthansa AG averted a disruptive pilot strike after raising its pay offer, a move that will avoid cancellations while complicating the airline’s efforts to boost profit and pay down debt. The VC pilots union spokesman said the union decided to call off a planned two-day walkout after Lufthansa improved its offer. The union didn’t immediately comment on terms …

Bloomberg Taiwan will resume visa-free entry for travellers from countries it currently shares diplomatic ties with but will maintain a three-day quarantine requirement as the island takes halting steps towards easing its Covid-restrictions. Arrivals from more than 60 countries — including the US, UK and Australia — are eligible for visa-free entry starting September 12, though the duration of their …

Bloomberg British budget grocery chain Iceland Foods saw its debt bounce off recent lows after UK Prime Minister Liz Truss finalised plans for a £40 billion ($46 billion) support package to lower energy bills for British businesses. Iceland’s £550 million of bonds maturing in March 2025 rose by as much as 1.8 pence on the pound to a cash price …