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

  Bloomberg Kraft Heinz Co., rebuffed recently in its bid to buy Unilever, is investing $200 million in an expanded corporate social responsibility program that includes a pledge to fight malnutrition and decrease its environmental footprint. The Kraft Heinz announcement comes about a month after the company pulled a $143 billion bid to buy Unilever, saying it didn’t want to ...

  Bloomberg Alibaba’s bringing its teeming Taobao internet marketplace to Singapore. Alibaba Group Holding Ltd. and Lazada Group SA are teaming up to sell select Taobao products direct to shoppers in the affluent island-state, striking their first partnership since the Chinese company took control of Southeast Asia’s largest e-commerce operator a year ago. Lazada is launching a dedicated website that ...

  Emirates Business Rehlat, the hottest new online travel company in the region offers the best experience possible for its customers. A team of experts compiled quick and easy guidelines to help travellers have an easier journey, alongside the online travel agency’s most sought after deals. WARNING: FRAGILE! Did you know that if you put fragile tape on your luggage ...

  Bloomberg Bebe Stores Inc., a women’s apparel chain with locations across the US, is planning to shut its stores and seek a turnaround as an online brand, according to people familiar with the situation. The company is trying to close the locations without filing for bankruptcy, said the people, who asked not to be identified because the efforts aren’t ...

  BEIJING / AP Led by cutbacks in China and India, construction of new coal-fired power plants is falling worldwide, improving chances climate goals can be met despite earlier pessimism, three environmental groups said on Wednesday. A joint report by the groups CoalSwarm, the Sierra Club and Greenpeace follows a warning this week by two international agencies that the world ...

  Bloomberg Expanding state aid to money-losing nuclear reactors across the eastern US may leave consumers on the hook for as much as $3.9 billion a year in higher power bills. Nuclear plant owners are seeking subsidies in Ohio, Connecticut, Pennsylvania and New Jersey after Exelon Corp. won state aid for reactors in Illinois and New York last year. Should ...

  Bloomberg A trio of Houston-based private-equity funds is sifting through the oil industry with a view to potentially reaching $4 billion of investments after the market crash created some bargains. Argus Energy Managers, made up of three firms that invest in smaller explorers and service providers, expects to end the year with combined funds north of $2 billion and ...

  Bloomberg Toshiba Corp. bondholders, who have seen their investments tumble in recent months, have a new reason to worry: they may be paid only after banks in the event of a default. The concerns surfaced after people familiar with the matter said the Tokyo-based company is offering stock holdings and real estate as collateral to lenders as it seeks ...

  Bloomberg Iron ore is getting battered. After rounds of warnings that this year’s rally may be overdone, the raw material is in retreat as doubts gather about the strength of demand in China as steel sells off and record port stockpiles put a spotlight on rising supplies. In China, futures on the Dalian Commodity Exchange sank into a bear ...

  Bloomberg The UK drew more venture-capital investment last year than the next four European countries combined, mitigating concerns that Brexit is hurting British startups’ fundraising. Venture-capital firms plowed 6.8 billion pounds ($8.5 billion) into Britain last year, according to an annual study released on Wednesday from Tech City UK, a London-based organization that promotes the country’s digital economy. That’s ...