The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.
ABU DHABI / WAM Borouge, a joint venture between Adnoc and Borealis that provides innovative, value-creating polyolefin solutions, has announced the successful start-up of its new fifth polypropylene unit (PP5) in Ruwais. The new unit will boost the UAE’s polypropylene production to meet the growing global demand for manufactured products in the recyclable advanced packaging, infrastructure, and other industrial ...
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February, 2022
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25 February
UAE, US sign judicial cooperation pact on criminal affairs
ABU DHABI / WAM The UAE and the US signed a judicial cooperation agreement covering mutual legal assistance in criminal affairs, which is the first agreement of its kind in the Gulf Cooperation Council (GCC) region. The agreement was signed by Abdullah bin Sultan bin Awad Al Nuaimi, Minister of Justice, and Sean Murphy, Foreign Affairs Attaché at the ...
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25 February
Thailand’s PTT opens new trading office at ADGM
ABU DHABI / WAM PTT’s new trading office was opened by the PTT Chairman, CEO and Board of Directors, who travelled to Abu Dhabi to mark the milestone, alongside representatives from Adnoc, IFAD and ADGM. PTT is Thailand’s largest corporation and the only Thai company listed in Fortune Global 500. PTT becomes part of the growing energy trading community ...
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25 February
Australia’s NSW, UAE sign pact for agrifood innovation at Expo 2020
DUBAI / WAM The Australian state of New South Wales (NSW) has showcased its agrifood innovation and manufacturing capabilities to strengthen further its ties with the UAE at a dinner event held at the Australia Pavilion at Expo 2020 Dubai. The event was led by the newly appointed Vish Padmanabhan, NSW Senior Trade Commissioner to India and the Middle ...
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25 February
Russia’s Vladimir Putin is playing with fire in Ukraine
The worst, it seems, has now happened in Ukraine. In a pre-dawn televised address, Russian President Vladimir Putin announced he had ordered an operation aimed at demilitarising Ukraine. It’s a dark moment for Russia, for Ukraine, for Europe — the darkest in Putin’s two decades at the helm. It is also a point of no return for Russia’s leader, ...
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25 February
New Barclays head needs trust to invest
A leadership handover is normally time for refreshment and renewal at companies: new directions, exciting targets. Not so right now at Barclays Plc, where Jes Staley was recently pushed out prematurely as chief executive officer by UK regulators concerned about how he’d presented his personal ties with Jeffrey Epstein. The British bank’s new CEO, CS Venkatakrishnan, and Chief Financial Officer ...
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25 February
Finally, Volkswagen sees the logic of an IPO
If you wanted to design a car company to fetch a princely valuation on the capital markets, it would probably look much like Porsche AG. Like Ferrari NV, Porsche has excellent profit margins and a reputation of sporting and luxury heritage. Plus, it has an impressive electric-vehicle strategy to challenge Tesla Inc — the Porsche Taycan already outsells the ...
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25 February
Biden’s Ukraine speech was aimed at US allies
A high-profile speech on Ukraine is probably the last thing Democratic pollsters would have wanted from President Joe Biden. Good news on the pandemic would be welcome. If there had to be tough talk about a nasty foe, they would surely have hoped it would be about inflation, not Russian President Vladimir Putin. Or they may have wanted the ...
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25 February
Alibaba halts talks to raise $1 billion before Lazada IPO
Bloomberg Alibaba Group Holding Ltd discussed raising at least $1 billion for Lazada before calling off negotiations with potential investors when talks bogged down over the Southeast Asian online mall’s valuation. The Chinese e-commerce giant had aimed to secure financing for Lazada as a precursor to a spinoff of the Singapore-based company and a potential initial public offering, people familiar ...
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25 February
Air New Zealand to seek capital over Covid losses
Bloomberg Air New Zealand plans to raise capital by the end of next month through the issue new shares as its losses continue to mount during the pandemic. The Auckland-based national carrier predicted a record full-year pretax loss of more than NZ$800 million ($540 million), after reporting loss of NZ$367 million in the six months ended on December 31. It ...
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