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

  FedEx Corp has cracked the code on how to hire in today’s tight labour market: higher wages, better benefits and more flexibility. Who knew? After offering those three things, the company received more than 111,000 job applications, the most in history and up from 52,000 in the week of May 8, Chief Operating Officer Raj Subramaniam said after the ...

  Less than three months into a coal output surge ordered by Beijing to paper over the cracks in China’s electricity grid, the signs of strain are starting to show. Emergency rescue services were rushed to an illegal coal pit in Shanxi province after 22 miners were trapped underground by flooding, one of the country’s worst mine accidents in months. ...

  Bloomberg Goldman Sachs Group Inc has more than tripled environmental, social and governance investments in Asia, stepping up efforts to meet a growing need from clients to limit their greenhouse gas footprints. The New York-based bank has completed nearly 15 investments based on ESG criteria in the past two years, up from just four during the previous period, people ...

  Bloomberg Bangladesh’s economic growth is expected to increase to 6.6% in the fiscal year ending June in 2022, according to the International Monetary Fund (IMF), as the coronavirus pandemic abates and policies remain accommodative. Growth may rise to 7.1% the fiscal year after that, the IMF said in a statement on its website, citing an improvement in the external ...

  Bloomberg GoTo Group has hired banks to help it raise around $1 billion from an initial public offering in Indonesia, according to people familiar with the matter. The company, formed as the result of a merger by the country’s two most valuable internet startups, has picked PT Mandiri Sekuritas and PT Indo Premier Sekuritas as underwriters for a local ...

  Bloomberg After a bumper year of stock listings, Asian companies may find it hard to repeat the success in 2022 given the prospect of rising interest rates and China’s tightening grip on Big Tech. Thanks to a blistering first half amid a global boom, initial public offerings in the region have reached $190 billion so far this year, a ...

  Bloomberg Shares of Indian digital payments giant Paytm closed at the lowest since their market debut last month following the nation’s biggest-ever initial public offering, as investors remain concerned about the startup’s path to profitability. One 97 Communications Ltd, Paytm’s parent company, raised $2.5 billion in its IPO but a 27% plunge in its debut made it one of ...

  Bloomberg Two new cases of the omicron variant were detected in the central Chinese city of Changsha from arrivals into the country, state-backed media Xinhua reported citing the municipal government. The provincial capital of Hunan is the latest place to discover the highly contagious variant in incoming travelers, after the southern province of Guangdong and the northern metropolis of ...

  Bloomberg The indefinite delay of President Joe Biden’s signature domestic policy bill has derailed the Democrats’ strategy to stave off a Republican onslaught in the 2022 congressional elections and the party may be left without a fallback option. After renewed objections from Senator Joe Manchin to the structure of the Build Back Better measure, Democratic leaders in the Senate ...

  Bloomberg The Taliban government urged major Islamic nations to push the US to call off sanctions imposed on Afghanistan, saying the actions are exacerbating the refugee crisis and hurting its people. The freezing of Afghan assets by the US is in violation of human rights, while the suspension of development assistance by the International Monetary Fund and the World ...