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

  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 The Biden administration published its strategy for subsidising US output of semiconductors, with the first phase of funding potentially being rolled out next spring, Commerce Secretary Gina Raimondo said. Smaller, simpler projects involving expansion of existing facilities will be the first to receive funds, followed by more complex projects for so-called leading-edge chips, which the US currently doesn’t ...

  Bloomberg UK house prices rebounded in August, led by the strongest growth in London in six years, one of the nation’s biggest mortgage lenders said. Halifax said its measure of property prices rise 0.4% last month after a 0.1% dip the month before, bringing the average cost of a home to a new record of £294,260. The increase defied ...

  Bloomberg European sugar producers are processing crops earlier than normal this year in a bid to avoid the worst of a winter energy crunch, but at the risk of smaller output. Starting a few weeks earlier than usual should bring forward end of campaign, which typically wraps up during the coldest months — when energy supply is expected to ...

  Bloomberg General Motors Co.’s Cruise self-driving car unit has recalled an older version of software used by its robotaxis at the time of a crash in San Francisco in June, according to federal transportation regulators. Cruise has updated the automated driving system, or ADS, software and all affected vehicles were repaired in July, the National High Traffic Safety Administration ...

  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 Al Seer Marine, a subsidiary of International Holding Company (IHC), has announced entering into a collaboration agreement with Netbulk Pte Ltd, a one-stop maritime solution company based in Singapore, as part of its growth strategy to expand its worldwide freight services. Founded in 2015, Netbulk provides a wide range of commercial activities, including trading, chartering, ...

  ABU DHABI / WAM President HH Sheikh Mohamed bin Zayed Al Nahyan issued a federal decree appointing Omran Sharaf as a member of the UAE Diplomatic and Consular Corps with the rank of ambassador, and as Assistant Minister of Foreign Affairs and International Cooperation to handle the Advanced Science and Technology portfolio. Omran Sharaf is the Project Director of ...