The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.
BLOOMBERG FedEx Corp’s shares climbed after the courier boosted its profit outlook, signalling efforts to cut costs are helping counter a decline in package volume. Adjusted earnings this fiscal year will be $14.60 to $15.20 a share, up from a prior forecast of no more than $14, the Memphis, Tennessee-based company said in a statement. Analysts were expecting $13.57 on ...
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March, 2023
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17 March
Boeing, Airbus hunting for highly-skilled talent in India
BLOOMBERG Boeing Co and Airbus SE are increasingly looking to India for highly-skilled, low-cost engineers to meet a boom in demand for aircraft and expand their manufacturing presence in the world’s fifth-largest economy. Airbus plans to hire 1,000 people in India this year out of 13,000 globally. Boeing and its suppliers, which already employ about 18,000 workers in the nation, ...
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17 March
Dewa adds 26 local, int’l awards, sets world record in 2022
DUBAI / WAM Dubai Electricity and Water Authority (Dewa) won 26 prestigious local, regional, and international awards in 2022, raising its record of awards to 410 (68 local, 69 regional, 273 global) between 2015 and 2022. Dewa also marked another breakthrough by achieving the Guinness World Records for the “largest single-site water desalination facility in the world†with a production ...
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17 March
Abu Dhabi’s Mubadala rebrands its unit MDC BMS to ‘Solutions+’
ABU DHABI / WAM Mubadala Business Management Services (MDC BMS), wholly owned by Mubadala Investment Company, announced its rebrand to Solutions+, a Mubadala Company. The core offerings of solutions + will continue to power the back-office engine of major companies in the UAE and internationally — driving change, progress, and value through vital infrastructure functions, ranging from operations to digital ...
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17 March
Emirati astronaut Sultan AlNeyadi to interact with UAE residents from ISS
DUBAI / WAM The Mohammed bin Rashid Space Centre (MBRSC) has announced the launch of “A Call With Space,†an exclusive event featuring Emirati astronaut Sultan AlNeyadi, which will be held across the UAE. As part of the roadshow, the public will have the opportunity to interact live with Sultan, who is currently on the International Space Station (ISS) undertaking ...
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17 March
UK offers nurses 5% pay rise in bid to end most NHS strikes
BLOOMBERG The UK government offered a 5% pay rise to nurses, midwives and ambulance workers in England for the next financial year, in a bid to end months of strikes. The proposal for National Health Service (NHS) workers includes a one-time bonus worth 2% of salary for 2022-23, along with an “NHS backlog bonus†worth at least £1,250 per person, ...
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17 March
GE chief’s pay falls 60% in 2022 after stock award reduced
BLOOMBERG General Electric (GE) Co Chief Executive Officer Larry Culp saw his total compensation decline more than 60% in 2022 after agreeing last year to a reduced annual stock award. The CEO’s total compensation in 2022 was $8.2 million, down from $22.7 million in 2021, according to the company’s annual proxy filing. The 64% reduction was expected, and mostly due ...
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17 March
Deliveroo CEO sees profitability in 2023 following ‘tough’ year
BLOOMBERG UK food-delivery service Deliveroo Plc reported that annual sales rose 14% last year when inflation and economic headwinds hit customers. Revenue rose to £1.97 billion ($2.4 billion) and its operating loss was £245.6 million last year, the company said in a statement. Shares fell 3% to 86.88 pence in London. The company said it reached a key milestone of ...
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17 March
Volkswagen unveils affordable electric vehicle at $26,400
BLOOMBERG Volkswagen AG unveiled an affordable electric vehicle (EV) that’s a couple years away from production, putting Europe’s largest carmaker on a collision course with Tesla Inc. The compact ID. 2all concept previews a car costing less than €25,000 ($26,400) that VW is readying for the European market in 2025. The maker of the Golf hatchback — which was knocked ...
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17 March
Xi, Putin to discuss blueprint for ending war in Ukraine
BLOOMBERG China announced that Xi Jinping will travel to Russia on a three-day state visit starting on Monday, his first trip there since Kremlin forces invaded Ukraine and a strong show of support for President Vladimir Putin. Xi will be in Russia from Monday to Wednesday next week, according to a statement from China’s Foreign Ministry. Xi, who secured a ...
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