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 Abu Dhabi National Oil Company (Adnoc), a reliable and responsible provider of lower-carbon intensity energy, on Thursday announced it has signed agreements with 23 UAE and international companies for local manufacturing opportunities across a wide range of critical industrial products worth AED17 billion ($4.63 billion). The agreements outline the intention of the companies to manufacture ...

  Abu Dhabi / WAM Borouge on Thursday announced its financial results for the twelve-month and three-month periods ended December 31, 2022, with strong year-on-year growth in sales volumes driving healthy revenue growth. Highlights for the twelve months to December 31, 2022; Borouge reported a net profit of $1.4 billion, in line with market expectations and holding up well, despite ...

PANAMA / WAM A delegation from the Emirates News Agency (WAM), chaired by its Director-General Mohammed Jalal Al Rayssi, has discussed the agency’s cooperation with several media entities in Panama. During its visit to Panama, WAM delegation explored the outcomes of the first edition of the Global Media Congress which was held in Abu Dhabi in November 2022 and the ...

  Abu Dhabi / WAM Etihad Airways has announced that it will increase its services to Frankfurt, Germany, as of May 1. The airline will add an extra four services a week to its current daily frequency, bringing the total number of flights to Frankfurt up to 11 weekly. The additional flights will be operated by one of Etihad’s ultra-modern ...

  Dubai / WAM The Abu Dhabi Public Health Centre (ADPHC) has signed a memorandum of understanding (MoU) with Talabat UAE, the leading online food delivery and q-commerce platform, during a ceremony at Arab Health 2023, to collaborate in promoting healthier eating habits in Abu Dhabi through the use of data and research. As part of this collaboration, Talabat UAE ...

  Dubai / Gulf Time Titan Eye+, India’s largest eyewear company, has launched its first international store in the UAE, adding to its footprint of 860+ Titan Eye+ stores across 300 different cities in India. The brand, which has an annual production capacity of close to two million lenses and one million frames, has also announced a robust regional expansion ...

  Bloomberg Tesco Plc is eliminating hundreds of manager roles across its stores and closing all remaining food counters and hot delis as the UK’s biggest supermarket operator seeks to cut costs. The grocer is introducing shift leader roles into its larger stores, allowing it to cull 1,750 other management positions. Tesco said it will also shut its food counters ...

  Bloomberg Air New Zealand Ltd. is attempting one of its biggest-ever passenger recoveries, trying to rebook some 9,000 travellers stranded around the world or stuck at home, unable to fly due to floods in Auckland. With spare capacity on airlines already limited, the task has turned into a complex logistical puzzle for the New Zealand carrier. Some passengers are ...

  Bloomberg Whirlpool Corp. said it expects easing raw material costs to provide relief to profitability in 2023, even as economic activity loses steam. The shares rose in late trading. The company expects inflation for inputs such as steel and resins to moderate, which, combined with a cost-cutting initiative, should lower expenses by $800 million to $900 million, Whirlpool said ...

  Bloomberg The US and India plan to share advanced defense and computing technology, including the potential joint production of General Electric Co. jet engines, as the Biden administration seeks to shift New Delhi away from Russia and counter China. Details of the plan, known as US–India Initiative on Critical and Emerging Technologies, bolster Washington’s broader agenda of strengthening military, ...