Bloomberg Uber Technologies Inc. is in early talks to buy food-delivery company Deliveroo for several billion dollars, according to people familiar with the plans. A bid for London-based Deliveroo, last valued at more than $2 billion, would mark a major attempt by Uber to dominate the food-delivery business in Europe. An acquisition price is unknown. Any offer would need to ...
Read More »
Bloomberg Arnold Kamler has experienced the trade dispute between President Donald Trump and China first hand, and is trying to respond as quickly as possible. His company, Kent International Inc., assembles about 400,0 00 bikes annually at its factory in Manning, South Carolina. But this is no shield from the latest round of tariffs, since — in an effort to ...
Read More »
ABU DHABI / WAM Abu Dhabi has been named the safest city in the world for the second year running by Numbeo, a website that curates and collates data to develop the world’s largest user-contributed database about cities and countries worldwide. Surpassing more than 300 cities across the world, including Tokyo, Basel, Munich, and Vienna, the UAE’s capital has once ...
Read More »
ABU DHABI / WAM Al Hilal Bank, rated A2 by Moody’s and A+ by Fitch successfully closed a $500 million five-year Senior Sukuk. The transaction, under Al Hilal Bank’s new management team, marks the first Senior Public Sukuk from the UAE since April 2018, and re-opens the Capital markets for GCC issuers. Al Hilal Bank was last in the market ...
Read More »
SHARJAH / WAM Gulftainer, a privately-owned independent port operator and logistics company based in Sharjah, has finalised a 50-year concession with the State of Delaware in the USA to operate and develop the Port of Wilmington, significantly expanding the company’s global footprint and reach. The agreement, signed by Gulftainer’s subsidiary GT USA, will see an expected investment of up to ...
Read More »
ABU DHABI / WAM Adnoc Refining, a subsidiary of the Abu Dhabi National Oil Company (Adnoc), on Wednesday announced it has reached full production of polymer-grade propylene from its newly commissioned Propane Dehydrogenation (PDH) unit, located in the Ruwais integrated refining and petrochemical hub. The PDH unit processes propane from two major sources, Adnoc Gas Processing and Ruwais Refinery West, ...
Read More »ABU DHABI / WAM Sultan bin Saeed Al Mansouri, Minister of Economy, said that the bilateral and economic relations between the UAE and Algeria are based on strong foundations of brotherhood and mutual respect, supported by their historical and cultural ties. He added that the cooperation between the two countries has witnessed ongoing overall developments, especially in the areas of ...
Read More »
Abu Dhabi / WAM Abu Dhabi Global Market (ADGM) signed a Memorandum of Understanding (MoU), with Emirates Telecommunications Group Company (Etisalat), and Emirates Integrated Telecommunications Company (EITC), Du to deploy and showcase innovative solutions and integrated services to transform the digital offerings of ICT and related services across Al Maryah Island. Both the MoUs were signed during the 2018 FinTech ...
Read More »
Bloomberg The trade dispute between the US and China will continue for the foreseeable future and escalate, and is going to be painful for Americans, according to a former US trade negotiator. “For the foreseeable future, we’re going to be in a tariff world and we’ll see escalation,” said Asia Society Vice President Wendy Cutler, formerly a negotiator at the ...
Read More »
Abu Dhabi / WAM Etihad Airways has marked the opening of the new runway at Velana International Airport in the Maldives by operating one of its Airbus A380 aircraft to the island nation. The new 3,400 metre-long and 60-metre-wide runway is the first in the Maldives capable of supporting an A380. The special Etihad operation was piloted by First Officer, ...
Read More »
The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.