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

It hasn’t been an edifying few days for Hong Kong. After a domestic worker from the Philippines was found late last week to have contracted a more infectious strain of Covid-19 locally, all 370,000 foreign women working in the territory’s homes were ordered to take coronavirus tests, many queueing for hours over the weekend to do so. They faced the ...

In the debate over President Joe Biden’s infrastructure and climate bill, it was perhaps inevitable that some policy makers would object to including anything other than traditional infrastructure such as roads and bridges. More surprising is the “new pundit view,” which casts doubt about spending in precisely that narrow category. This is a perspective based on very imperfect data. Especially ...

Bloomberg Nestle SA is introducing a plant-based milk brand to compete with Danone’s Alpro and Oatly AB in the growing market for dairy substitutes. The pea-based milk alternative, called Wunda, will be available in France, the Netherlands and Portugal in the coming weeks, the Swiss maker of Nespresso coffee and Purina pet food said in a statement on Wednesday. A ...

Bloomberg Bombardier Inc is selling its stake in Alstom SA in a deal that would generate proceeds of more than $630 million at current market prices. The offering has gathered enough investor demand to cover the sale, according to terms seen by Bloomberg. Price guidance will follow and such accelerated offerings typically come at a discount. After completion of the ...

Bloomberg Tesco Plc has pledged to boost sales of healthier food and drink across its entire retail business in a bid to stave off further pressure from investors over concerns its products cause obesity. The company aims to include its central European operations and wholesaler Booker Group Ltd in a pledge to increase the share of healthy product sales, Tesco ...

Bloomberg A Singaporean company will feed airport food waste to crickets and mealworms before turning them into fish feed, aiming to cut the country’s use of imported feed and offer a sustainable alternative. Blue Aqua International will partner dnata, an air and travel services provider, to convert organic waste from its catering and ground handling operations at Singapore’s Changi Airport ...

Bloomberg The Honest Co, the personal care brand co-founded by actress Jessica Alba, raised $413 million in an initial public offering priced within a marketed range. The company and its shareholders sold about 25.8 million shares for $16 each, according to a statement confirming an earlier Bloomberg News report. The shares had been marketed for $14 to $17, with the ...

Bloomberg Steinhoff International Holdings is looking to raise as much as 4.6 billion zloty ($1.2 billion) by listing its European discount retail arm Pepco Group in Poland, capitalising on increased demand for discount goods amid the coronavirus crisis. The South African retailer and other holders plan to sell 101.3 million existing shares, the company said in a statement on Wednesday. ...

Bloomberg Somalia will expedite elections in a bid to quell instability and coax donors into releasing funds needed to pay the nation’s security forces and other state employees, Foreign Minister Mohamed Abdirizak said. The prime minister is scheduled to meet representatives from political parties and other interested groups in July to agree on the voting process, Abdirizak said. The authorities ...

Bloomberg The Philippines said China’s unilateral fishing ban in the South China Sea doesn’t apply to areas within the Southeast Asian nation, in yet another sign of tension between the two countries. The National Task Force for the West Philippine Sea “opposes China’s imposition of the same over the areas within the territory and jurisdiction of the Philippines,” it said ...