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

  Bloomberg Global Infrastructure Partners (GIP) has agreed to buy clean energy company Atlas Renewable Energy to bolster its presence in Latin America, according to people familiar with the matter. New York-based GIP will acquire Atlas from private equity firm Actis in a deal valued at close to $2 billion, the people said, asking not to be identified discussing confidential ...

UK food prices are rising at the fastest pace in more than a decade. Britain’s big four supermarkets are trying to pass on their own inflation by charging more. However, they must be careful not to sleepwalk into a crisis — as they did in the wake of the great recession, when they drove customers into the arms of the ...

London is the underdog to New York in the battle to host Arm Ltd’s return to the stock market. It shouldn’t be. The greatest homegrown UK technology business was listed in London before its purchase by SoftBank Group Corp in 2016. There is no convincing reason to believe Arm would be more successful as a US-listed company. SoftBank is planning ...

It has been a rough few months for US stocks but even rougher for shares of technology companies. The widely followed and tech-heavy Nasdaq Composite Index is down about 30% since it peaked in November. Investors may be wondering whether tech stocks are a bargain. The answer is no: They’re a lot cheaper but not cheap yet. One way to ...

  You wouldn’t think a hearing of the Senate Banking Committee would turn into a debate over abortion rights. But overturning Roe vs Wade would have real costs for the US economy, and Treasury Secretary Janet Yellen was entirely correct to note them in a tense and revealing exchange with Senator Tim Scott. Limiting or eliminating access abortion “would have ...

Bloomberg The decades-long era of cheap food in Britain may be coming to an abrupt end. With the UK wilting under the fastest inflation in three decades, supermarkets are raising prices at an even quicker rate, according to a new analysis prepared for Bloomberg. That’s turning the screws on shoppers who are already grappling with higher gas and heating bills ...

  Bloomberg The chief executive officer of Tesco Plc received 4.7 million pounds ($ 5.7 million) last year after he helped steer Britain’s biggest grocer and private sector employer through the Covid-19 pandemic. Most of Ken Murphy’s bumper package was driven by performance-related bonuses for helping Tesco manage severe staff shortages, panic-buying and major supply chain blockages as Covid infections ...

Bloomberg South Africa’s government has retained special voting rights in the country’s national carrier even after selling a majority stake, and will be given 3 billion rand ($186 million) in preference shares that can be redeemed through future cashflow. That means the state stands to benefit should new owner, the Takatso Consortium, revive a carrier that’s struggled under years of ...

Bloomberg Wanted: Hundreds of people to sit in a plane for 20 hours. Must be willing to pay lots of money. Claustrophobes needn’t apply. Conceived prior to the Covid crisis, Qantas Airways Ltd’s plan to operate the world’s longest nonstop commercial flights from southeast Australia to New York and London is being resurrected in a much-changed aviation landscape, with global ...

  Bloomberg A lawyer for American Airlines Group Inc urged a jury to award the carrier almost $300 million in overcharges and lost profits, arguing that Sabre Holdings Corp illegally dominated the market for booking airline tickets. “There’s one company in this travel business that doesn’t compete,” Paul Yetter told the jurors at the end of a three-week federal trial ...