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

  Bloomberg China plans to plug a regulatory gap and begin overseeing low-speed electric vehicles used mainly in the country’s rural areas, legitimizing a market segment that dwarfs sales of regular battery-electric cars made by the likes of BYD Co. and Tesla Motors Inc. Under the current regulatory framework, there are no rules governing the production and sale of electric ...

  Bloomberg United Continental Holdings Inc., longtime laggard of US airlines, is up 41 percent since late June as investors buy into the troubled carrier’s promise of an imminent turnaround. The next five weeks may tell if that faith is well-placed. United’s new president, Scott Kirby, an airline industry star — plucked soon after he parted ways with American Airlines ...

  Bloomberg J Sainsbury Plc will open Argos branches or collection points inside almost all of its stores, as the U.K. grocer detailed how it plans to integrate the catalog retailer it acquired last month. “Over time, we envisage that there won’t be a single Sainsbury’s shop, with the exception of some very small convenience shops, where you won’t either ...

  Milan / AP Italy’s flagship airline Alitalia has banned the Samsung Galaxy Note 7 smartphone on all flights effective immediately, following an emergency order prohibiting the phone on flights in the United States. The airline said in a statement Saturday that it imposed the ban based on the U.S. Department of Transportation’s emergency order “to guarantee maximum security standards.” ...

AP Supervalu Inc. agreed to sell the Save-A-Lot grocery chain to Canada’s Onex Corp. for $1.37 billion in cash and will use the proceeds to repay debt. As part of the deal, Supervalu will provide services such as payroll and merchandising technology to Save-A-Lot for five years, the Minneapolis-based company said. The company expects to complete the deal by Jan. ...

  Bloomberg PepsiCo Inc. ramped up its pledge to reduce the number of sugary beverages it sells over the next decade as governments increasingly tax soft drinks and fruit juices in an attempt to reduce obesity and diabetes. At least two-thirds of the company’s beverage volume will have no more than 100 calories from added sugars per 12-ounce serving by ...

  Bloomberg Southeast Asia’s best-performing currency is giving Indonesia’s central bank the opportunity to continue increasing foreign reserves from a four-year high, a senior official said. “If we see the chance to build our reserves, then surely we will take advantage of it,” Doddy Zulverdi, Bank Indonesia’s executive director for monetary management, said in an interview at his Jakarta office ...

  DUBAI / DOHA / Reuters Qatar’s central bank is offering 3 billion riyals ($825 million) of government bonds in its third domestic bond sale this year, according to a circular seen by Reuters. Bids for the latest offer were due on Monday, with allocations to be made the following day, according to the offer document. The offer is made ...

  Kuwait City / AFP National Bank of Kuwait, the emirate’s largest lender, said on Monday its third quarter net profit rose 6.5 percent mainly thanks to growing public spending despite low oil revenues. The bank posted a net profit of 68.7 million dinars ($227.5 million) for July to September this year compared to 64.5 million dinars ($213.6 million) for ...

  Bloomberg ICICI Bank Ltd., India’s largest private-sector bank, rose the most in six months in Mumbai stock trading on optimism the lender will recover some of its loans to the Essar Group. Shares of the bank rose 6.5 percent to 257.55 rupees, while the locally listed stock of Standard Chartered Plc, also owed money by Essar, gained 2 percent. ...