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

  Bloomberg Temasek Holdings Pte increased its internal carbon price to $50 a ton as the Singapore state-owned investor takes steps to meet a net zero target by 2050. The $287 billion fund lifted the internal price from $42 a ton, and plans to increase it further to $100 a ton by 2030, according to the investor’s annual report released ...

When Foxconn Technology Group’s Young Liu toured Asia last month, he avoided speaking about the one client for which the Taiwanese company is most famous. In meetings with the leaders of India, Indonesia and Thailand, the chairman focussed on developing semiconductors and building electric vehicles instead of churning out Apple Inc iPhones. That’s a stark contrast to eight years ago, ...

The meal deal served by the Benettons to minority investors in Autogrill SpA arrived cold. The billionaire family has just agreed to sell its controlling stake in the motorway-restaurant operator to Swiss duty-free retailer Dufry AG in an ungenerous deal, gaining a position of influence in the combined business. That leaves fellow shareholders deprived of the takeover at a premium ...

  Supporters of outgoing British Prime Minister Boris Johnson have turned on him after his downfall, accusing him of a breezy disregard for truth and integrity in public life. But no one can pretend that this fatal trait was previously unknown. If Johnson’s journalistic career was distinguished by fake news and fabricated quotes, as well as racist jibes, his personal ...

  If there’s something the leaked Uber Technologies Inc documents show — aside from the questionable ways in which the company sought to break into new markets in Europe — it’s just how much the European political establishment has soured on doing business with US tech firms. Although previous years were marked by friendly encounters between American executives and European ...

  Bloomberg Air Canada’s hope for a strong recovery in 2022 has been foiled by chaos at Canada’s biggest airports. Travellers are back in big numbers as the summer vacation season kicks off. But Toronto’s Pearson International Airport has descended into scenes of long lines and a sea of luggage, and the nation’s largest airline is paying the price. About ...

  Bloomberg Frontier Group Holdings Inc asked buyout target Spirit Airlines Inc to further delay a shareholder vote on their proposed merger, saying it’s still “very far” from winning sufficient support because of a higher offer from rival JetBlue Airways Corp. Frontier also asked Spirit’s board to publicly reaffirm its commitment to their original agreement reached in February in light ...

  Bloomberg Gap Inc fired Chief Executive Officer Sonia Syngal after 2 1/2 years, with rising costs and deepening discounts threatening to wipe out this quarter’s operating profit. Chairman Bob Martin is taking over immediately as CEO on an interim basis, according to a statement. The stock has been battered amid missteps such as a clumsy implementation of expanded women’s ...

  Bloomberg The US Centers for Disease Control and Prevention uses outdated tools to track and analyse how Covid-19 spreads on planes, hindering the agency’s ability to stop outbreaks, a government watchdog agency said. Air travel is a constant concern in public health, since a sick person can board a plane in one country and hours later land in another, ...

  Bloomberg The billionaire Benetton family agreed to sell their controlling stake in highway restaurant operator Autogrill SpA to duty-free company Dufry AG, creating a $6 billion player in the travel retail market and accelerating the overhaul of the Italian industrial clan’s holdings. As part of the deal, the Benettons will sell their majority stake in Autogrill to become the ...