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 Plc, a petrochemical company that provides innovative and differentiated polyolefin solutions, announced strong financial results for the first six months of 2022, with a 16.4% increase in revenue to $3,460 million for H1 2022, versus the same period last year, driven by sales volume growth of 8.6% and average price per tonne growth of ...

  Abu Dhabi / WAM Etihad Airways on Thursday announced its financial and operating results for the first half of 2022, posting a record-breaking core operating profit of $296 million (H1 2021: $392 million loss). This result was achieved despite fuel costs increasing by almost 60% in comparison to the same period last year. Etihad carried 4.02 million passengers in ...

  DUBAI / WAM The Ministry of Human Resources and Emiratisation (MoHRE) has called on private sector establishments in areas affected by rains and floods in the UAE, especially in the Emirates of Sharjah, Ras Al Khaimah and Fujairah, to allow their non-essential employees to work remotely on Thursday and Friday. The transportation for essential employees between their workplace and ...

  Dubai / WAM Deyaar Development, one of Dubai’s leading property developers and real estate service providers, announced its unaudited financial results for the first half of 2022. The company achieved a remarkable increase of 196% in net profit to reach AED66.9 million for the six months ended June 30, compared to AED22.6 million for the same period in 2021. ...

  ABU DHABI / WAM The central bank of the UAE (CBUAE) has decided to raise the Base Rate applicable to the Overnight Deposit Facility (ODF) by 75 basis points, effective from July 28. This decision was taken following the US Federal Reserve Board’s announcement on July 27, to increase the Interest on reserve balances (IORB) by 75 basis points. ...

  Abu Dhabi / WAM Response Plus Holding (RPM), a subsidiary of ADX-listed Alpha Dhabi, has reported a strong performance in the half-year results ending June 30, announcing a net profit of AED20.6 million in the first half of 2022, compared to AED12.5 million during the same period in 2021. Response Plus Holding has achieved AED162.6 million in revenue in ...

  Abu Dhabi / WAM The Healthcare Programme, an initiative by the Emirati Talent Competitiveness Council (Nafis), has begun registering UAE nationals with, at least, high school degrees. The initiative aims to attract 2,000 nationals to the healthcare sector in 2022, while continuing the process until reaching the target of attracting 10,000 nationals to the sector by 2026. The programme ...

The war in Ukraine is, let’s admit it, weird. Russian citizens can, at least theoretically, travel to Ukraine for business or pleasure, though now — only since June — they need visas. The belligerents are parties to a recent deal ensuring safe grain exports. Russian gas keeps flowing to Europe through Ukraine’s pipeline system, albeit in reduced volumes. Countries that ...

Spirit Airlines Inc is now dancing with only one suitor. A high-stakes shareholder vote over the low-cost carrier’s proposed merger with Frontier Group Holdings Inc appeared to come down to the wire, with Spirit pausing the proceedings at midday to allow for a few extra hours of negotiations. In the end, despite the additional time and four earlier delays in ...

  For a market that has typically been seen as concentrating on the future, investors can sometimes take a surprisingly backward view. Consider their upbeat reaction to Alphabet Inc’s earnings, reflected in the stock’s 5% jump on July 27. As encouraging as it might be that second-quarter revenue came close to what analysts expected — although the 13% growth rate ...