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) and Borealis AG (Borealis) are considering a potential initial public offering (IPO) of a minority stake in their joint venture business Borouge. Headquartered in Abu Dhabi, Borouge is a leading provider of innovative, value creating plastics solutions. Adnoc and Borealis will provide further material updates as and when appropriate.

  Abu Dhabi / Gulf Time National Central Cooling Company PJSC (Tabreed), on Tuesday released its consolidated financial results for 2021, reporting a net profit of AED 585.2 million – an increase of 6% compared to its 2020 performance. In addition, Tabreed’s board of directors recommend a dividend of 12.0 fils per share, to be paid 50% in cash and ...

  Dubai / WAM The number of weekly visits to Expo 2020 Dubai has passed the one million mark for the first time since the site opened over 19 weeks ago, climbing to a total of 13,457,400 as of February 14. Expo 2020 Dubai’s virtual visitation numbers reached more than 121 million, but this is set to soar even further ...

  Dubai / WAM flydubai, the Dubai-based airline, has announced that it will resume flights to Istanbul’s Sabiha Gökçen Airport (SAW) from March 2 with five flights a week. With flydubai’s daily flights to Istanbul Airport (IST), the airline will increase its flight frequency to Istanbul to 12 flights a week. flydubai’s network in Turkey also includes the capital, Ankara, ...

  AL AIN / WAM Maryam Al Kaabi from the College of Engineering at the United Arab Emirates University (UAEU) has invented a drill for aircraft body, while working on a “Mubadala”-launched initiative to support the university students’ research. Al Kaabi, who holds a Bachelor’s degree in Mechanical Engineering and a Master’s degree from the UAEU, said, “I was part ...

  Abu Dhabi / Gulf Time The Abu Dhabi Agriculture and Food Safety Authority (Adafsa), launched an “Agricultural Supplies Exhibition”, that will feature for a week at the Sheikh Zayed Festival in Al Wathba, in collaboration with its partners and agricultural equipment suppliers, along with agents of international companies specialised in agricultural products, for visitors to the “Agricultural Oasis” being ...

Diplomatic efforts to forestall Russia’s threatened attack on Ukraine still aren’t over — and it appears that discussing Ukraine’s future relationship with Nato isn’t quite as unthinkable as the US and its allies have maintained. That’s good. Making a success of any such approach won’t be easy but, if the alternative is war, it’s worth a try. Shuttling between Moscow ...

One frequent criticism of conglomerates is that their complex structures can make it more difficult to get proper credit from investors for all of their good assets and growth opportunities. But the axiom can also work in the reverse, apparently. 3M Co has so many problems at the moment — a potentially mammoth liability tied to legacy manufacturing of per- ...

  Container-shipping companies have found lots of ways to spend their enormous pandemic profits. They’re lifting staff pay, making acquisitions and returning heaps of cash to shareholders. One person who won’t benefit much is you, the taxpayer. Based on their recent financial filings, I calculate big European container lines AP Moller-Maersk A/S, CMA CGM SA and Hapag-Lloyd AG owe just ...

  Out of all the actions the Biden Administration could have taken on Afghanistan, commandeering the nation’s foreign currency reserves is, to put it mildly, unhelpful. In an executive order, President Joe Biden began the process of releasing the $7 billion in Afghan Central Bank funds held in the Federal Reserve. It froze those assets last August when the Taliban ...