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

BLOOMBERG  Nestle SA said a third of its sales missed an independent definition of healthy as it applied a nutritional rating test across its portfolio. The finding shows that Nestle has room to improve as it aims to be the top health and wellness food company. Nestle said that according to the Health Star Rating (HSR) system, 30% of the ...

BLOOMBERG  Air India Ltd is in talks with banks to help fund its recently announced record aircraft order, benefitting from the support of new owner Tata Sons Ltd, the carrier’s chief executive officer said. “We have the backing of Tata Sons, so there is financing available for these aircraft,” CEO Campbell Wilson said in an interview with Bloomberg News on ...

ABU DHABI / GULF TIME The National Library and Archives (NLA) announced the completion of the necessary preparations for hosting the International Council Congress (ICA) 2023 in Abu Dhabi on October 9-13 at the first meeting of the organising committee for the major archival event, which announced the activities of the conference and exhibition at Abu Dhabi National Exhibition Centre ...

LATAKIA / WAM The Emirates Red Crescent (ERC) distributed around 1,500 school bags and stationery to Syrian students in the Latakia Governorate, one of the areas affected by the recent earthquake that hit the country. The aid is the first phase of an initiative to distribute more than 10,000 school bags and stationery to several Syrian governorates. It is part ...

DUBAI / WAM Emirates NBD has successfully priced a five-year $600 million sukuk for Air Lease Corporation (ALC), marking the first sukuk issued by a US corporation. The strong demand for the sukuk saw orders of over $2.2 billion, allowing ALC to increase the offering to $600 million. The profit rate was tightened by 30 basis points to 5.85%, at ...

ABU DHABI / WAM Etihad Airways has announced the launch of reciprocal interline partnerships with three new airline partners — Philippine Airlines (PAL), Austrian Airlines (OS) and Airlink South Africa (4Z), while re-launching interline links with Biman Bangladesh and codeshares with Air Seychelles (HM) and ITA Airways (AZ). The deal means customers of all airlines involved will enjoy enhanced connectivity ...

BLOOMBERG Mercedes-Benz Group AG suffered a setback in a dispute at the European Union’s top court over its duty to compensate owners of cars equipped with illegal computer technology that overrides anti-pollution systems in order to protect components at low temperatures. In a suit referred from a court in Germany, the owner of a Mercedes car equipped with a so-called ...

BLOOMBERG Starbucks Corp said Laxman Narasimhan has assumed the role of chief executive officer, two weeks earlier than planned. Narasimhan, 55, has also joined the company’s board of directors, Starbucks said in a statement. He began working at the coffee giant in October and has spent the last few months getting to know the operations at more than 30 stores, ...

BLOOMBERG Auto sales in Europe increased for a seventh straight month, aided by strong growth in the UK and Spain and improving supply chains. Registrations jumped 12% in February to 902,775 vehicles, the European Automobile Manufacturers’ Association said. Sales of battery-electric vehicles surged 34%, expanding more than any other type of powertrain. Shortages of semiconductors and other components are becoming ...

BLOOMBERG The national-security and mental-health risks posed by TikTok are shared by other social media platforms, according to an advocacy group that’s urging Congress to also hold US companies accountable ahead of high-profile testimony from TikTok’s chief executive officer. The Tech Oversight Project, a nonprofit, says Meta Platforms, Alphabet’s Google, Apple and Amazon.com employ the same harmful business practices as ...