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

Bloomberg Jumia Technologies AG’s plan to expand its online retail and trading platform in less developed parts of Africa has long had one significant challenge: A lack of formal addresses for deliveries. That may be about to change due to an agreement with Vivo Energy Plc, the London-listed owner of more than 2,100 Shell and Engen-branded service stations across the …

Bloomberg HNA Group Co is considering refinancing Swissport International’s debt after talks to sell the airport-cargo handler stalled on valuation, people familiar with the matter said. The Chinese conglomerate is working with advisers to extend Swissport’s debt maturities and ease pressure from creditors, the people said, asking not to be identified because the matter is private. While the refinancing is …

Bloomberg Air France is set to approve the purchase of 50 to 70 new Airbus jets, French newspaper Journal du Dimanche (JDD) reports, in a boon for the European aviation giant. Chief Executive Officer Ben Smith, who took the reins of Paris-based Air France-KLM last year, will outline his plans for updating the airline’s fleet when the company announces its …

Bloomberg Nestle SA shares gained to a record after a new line of Starbucks coffee products helped spur the food company’s fastest quarterly revenue growth in more than three years. Since February, the Swiss company has been selling Starbucks-branded capsules for Nespresso and Dolce Gusto machines, along with roast and ground. That’s boosting growth as the company forecast it may …

ABU DHABI / WAM The United Arab Emirates continues to send aid convoys carrying all essential items, including medical supplies, to the Yemeni governorate of Dhale through the Emirates Red Crescent (ERC). An ERC volunteer team oversaw the distribution of the relief convoys in the presence of Major General Ali Muqbel, Governor of Dhale, who appreciated the UAE’s continuous support …

Bloomberg Almost three months after their trade talks broke down in acrimony, Chinese and American negotiators meet again in Shanghai this week amid tempered expectations for breakthroughs in their yearlong trade war. Two days of talks are scheduled to restart on Tuesday after an uneasy truce reached by Presidents Donald Trump and Xi Jinping on the sidelines of the Group …

Bloomberg Saudi Basic Industries Corp. has no interest in taking over Clariant AG after the chemicals makers last week halted talks on their high-performance plastics venture, the company’s chief executive officer said. “Our investment in Clariant is a strategic investment, we’re going to continue to look at this investment as a growth opportunity,” Yousef Abdullah Al Benyan told reporters in …

Bloomberg Chevron Corp. and four oil services companies won a last-minute US government reprieve to continue producing oil in Venezuela, albeit only for a 90-day period. The US Treasury Department supported Chevron’s request to extend its sanctions waiver by six months, but the majority of other government agencies involved opposed any extension at all, a senior administration official told reporters …

Bloomberg Petroleos Mexicanos imported less gasoline and diesel in the second quarter as its refineries produced more fuel and the government cracked down on fuel theft. Gasoline and diesel imports totalled 734,000 barrels a day, down 8.5 percent from the same period in 2018, according to a company presentation. Crude output dropped 10 percent compared with the same period a …

Bloomberg Philadelphia Energy Solutions filed for bankruptcy protection and reached a financing agreement with debt holders as the fuel-making company grapples with the aftermath of a June explosion and fire at its oil refinery that forced it to shut operations. The company submitted Chapter 11 petitions at the US Bankruptcy Court for the District of Delaware. It also entered into …