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

Bloomberg Global Power Synergy Pcl, the listed power unit of Thailand’s state-owned PTT Group, has acquired a stake in Indian renewable energy provider Avaada Energy Pvt for about $453 million. Global Power completed the purchase of about 41.6% stake in Avaada through subscription of new shares, the company said in a statement, confirming an earlier Bloomberg News report. The transaction ...

Bloomberg At a time when funding for fossil fuel projects is drying up, Botswana is racing to develop six new coal mines and a rail link for exports, with the government prepared to put its own money into the projects. The southern African nation, the world’s second-biggest diamond producer, has more than 200 billion tons of untapped coal reserves. To ...

Bloomberg A consortium that includes CNIC Corp and GIC Pte are nearing a deal with China Three Gorges Corp for a 25% stake in its overseas asset portfolio that could be valued at as much as $2 billion, according to people familiar with the matter. The group could reach a deal to buy the stake in China Three Gorges’ international ...

One of the most celebrated passages in the Bible occurs in St Matthew’s gospel. A rich young man asked Jesus, “What good thing shall I do, that I may have eternal life?” Jesus responds, “If thou wilt be perfect, go and sell that thou hast, and give to the poor.” Alas, charity has always been easier said than done. “But ...

Investors are cheering the news that Apple Inc is increasing the output for its next lineup of iPhones. While it may seem like a positive signal for future demand, reality is a bit more complicated. Bloomberg News reported that Apple has told its suppliers to make as many as 90 million next-generation iPhones for its initial run, a figure that ...

Sustainable agriculture is having its political moment. The Biden administration deserves credit for being the first to recognise that food system reforms can go a long way toward solving the climate crisis. Yet for all its big-picture vision, some critical details are getting overlooked. A big one is a loophole within the USDA’s National Organic Program that undermines its mission ...

After the assassination of its president, Haiti is once again in danger of spiraling into political chaos. The country’s chronic dysfunction is both a result and a cause of its chronic poverty. What it needs is to focus on economic growth — and to do that, Haiti should copy its more successful neighbors like Jamaica and the Dominican Republic. Right ...

Bloomberg The successor to bankrupt Italian flag-carrier Alitalia SpA faces an uphill battle to establish itself after low-cost rivals took advantage of the pandemic and a long restructuring process to grab chunks of its home market. Italia Trasporto Aereo SpA, known as ITA, plans to start services on October 15, after months of talks with European Commission officials over terms ...

Bloomberg The UK government abruptly reimposed quarantine rules on travellers returning to England from France days before it was due to ease the restrictions for most of Europe, drawing immediate anger from tourism bodies and airlines. Citing concern about the spread of the beta variant of the virus, UK ordered that anyone arriving after Monday from across the Channel will ...

Bloomberg Shoppers rushing back to stores after the lifting of lockdowns boosted European brands selling everything from watches to sneakers to handbags. Richemont, the owner of Cartier and Van Cleef & Arpels, reported a more than doubling in first-quarter revenue, while sales at Burberry Group Plc topped estimates. The results show consumers are hungry for luxury goods as they emerge ...