November, 2022

• 5 November

  Airline passengers happier now than before Covid despite delays

  

  Airline passengers are still happier with service standards now than before the coronavirus crisis, despite many carriers suffering a summer of delays and cancellations linked to staffing shortages. Passenger contentedness has shown only a slight dip, the International Air Transport Association (IATA) said, with 80% of people in a recent survey declaring themselves very satisfied or somewhat satisfied, compared with ...

  Read More »
• 5 November

  Hong Kong Airport opens ‘skybridge’ in preparation for revival

  

  Hong Kong International Airport (HKIA) opened a bridge connecting a terminal and satellite concourse, part of a wider HK$9 billion ($1.15 billion) upgrade even as a full recovery in air traffic remains far off. “What the airport engineers and practitioners want to make sure is we complete the facilities in advance of the demand coming up,” said Ricky Leung, HKIA’s executive ...

  Read More »
• 5 November

  Uniper posts $39.3 billion loss as Russia throttles gas supply

  

  Uniper SE reported one of the biggest losses in German corporate history, with Russia’s stranglehold on gas supplies leaving the giant utility struggling to survive. Uniper reported a net loss of about €40 billion ($39.3 billion) in the first nine months of the year after being forced to buy gas at prices far beyond what it paid Russia under long-term ...

  Read More »
• 4 November

  Europe’s wind farm developer gets profit boost from burning coal

  

  One of Europe’s greenest utilities, Orsted A/S, is set to make more money this year thanks in part to burning more coal as Europe turns to the polluting fuel to provide energy security. While Orsted mostly generates electricity from an increasing fleet of wind farms at sea, it also has plants that produce power and heat from burning coal and ...

  Read More »
• 4 November

  Galp wants partnerships for its renewable business, says CFO

  

  Galp Energia SGPS SA, Portugal’s biggest oil company, said it wants partners for its renewable energy business in different countries where it operates. “We’re growing all our traditional businesses, including upstream, but the renewables business is going to grow so much faster than you would want eventually to have partnerships in different countries, or different projects, without necessarily having to ...

  Read More »
• 4 November

  China solar giant sees yet more uncertainty for US imports

  

  The world’s largest solar company warned that stricter US import requirements for panel shipments will continue to create disruptions to the American market through next year. Longi Green Energy Technology Co. projects between 20 to 50 gigawatts of US solar market demand in 2023, the Chinese company said in an earnings briefing, according to a note by Daiwa Capital Markets. ...

  Read More »
• 4 November

  UAE-China trade up 28% to $64b in 8 months of ’22

  

  Abu Dhabi / WAM  UAE-China bilateral trade has exceeded $64 billion during the first eight months of 2022, which marked a 27.93 percent increase compared to the same period last year, a top Chinese diplomat told the Emirates News Agency (WAM) “China has become the UAE’s largest non-oil trading partner in the world, and the UAE remained China’s second-largest trading ...

  Read More »
• 4 November

  Adnoc Refining signs deal to sell waste management operations

  

  Abu Dhabi / WAM     Adnoc Refining, a joint venture company between the Abu Dhabi National Oil Company (Adnoc), Eni, and OMV, announced on Thursday that it has entered into a strategic agreement with ADQ, an Abu Dhabi-based investment and holding company, Veolia Middle East (Veolia), and Vision International Investment Company (Vision Invest) to acquire its waste management operations in Al ...

  Read More »
• 4 November

  Fertiglobe announces 84% boost in Q3 profit

  

  Abu Dhabi / GULF TIME Fertiglobe, the strategic partnership between Adnoc and OCI, the world’s largest seaborne exporter of urea and ammonia combined, the largest nitrogen fertiliser producer in the Middle East and North Africa (Mena) region, and an early mover in clean ammonia, on Thursday reported that its Q3 2022 revenues increased 52% year-on-year to $1.32 billion, while adjusted ...

  Read More »
• 4 November

  AD Ports acquires 80% stake in Dubai’s GFS for AED2.9 billion

  

  Abu Dhabi / WAM AD Ports Group on Thursday announced that it had signed an agreement to acquire an 80% equity stake in Dubai-based Global Feeder Shipping (GFS), a global container shipping company. The total purchase consideration for the 80% stake amounts to AED2.9 billion ($800 million), implying a 100% Enterprise Value of AED3.7 billion ($1.0 billion), with the acquisition ...

  Read More »