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 Al Yah Satellite Communications Company (Yahsat) on Tuesday announced its consolidated  financial results for the six months ended 30th June 2023. Revenue for the first half  of the year was stable at AED753 million ($205 million) whilst Ebitda and net income increased, on a normalised basis, by 3% versus the prior year to AED460 million ...

BLOOMBERG Amazon.com Inc Chief Executive Officer Andy Jassy pulled off a financial double play this earnings season: generating strong revenue growth from the core e-commerce business while cutting the pace of spending. The results sent shares up 8.3% to $139.57 at the close, the best single-day performance since November and the highest price for the stock in almost a year. ...

BLOOMBERG Party City Holdco Inc is considering splitting up its balloon manufacturing and retailing businesses as the latter charts a course out of bankruptcy, according to people familiar with the situation. Party City has held confidential talks with debt holders about spinning off its Anagram unit, said the people, who asked not to be identified because the matter is private. ...

BLOOMBERG The chairman of Hong Kong Airlines Ltd resigned, one of several senior management changes at the recently overhauled carrier. Hou Wei was replaced by Zhang Youqiang, chairman of Hong Kong Air Cargo, according to a company memo seen by Bloomberg News. Hou left after a four-year stint that covered the Covid pandemic and a HK$49 billion ($6.3 billion) restructuring ...

BLOOMBERG Around 24,000 British Airways employees will get a pay rise of 13.1% over an 18-month period as demand for air travel soars, easing the threat of further disruptions as workers push for higher wages across the industry. Along with the salary increase, BA’s workers will also receive a one-time payment of £1,000 ($1,270), the Unite union said in a ...

BLOOMBERG Europe’s long-awaited recovery in corporate travel keeps getting pushed back. Since the end of the coronavirus pandemic, the region’s biggest airline groups have been counting on corporate warriors to head back to the skies. But so far, many business clients have sat out the travel rebound. Just two years ago, Deutsche Lufthansa AG Chief Executive Officer Carsten Spohr boldly ...

  BLOOMBERG Prime Minister Narendra Modi might address the deadly ethnic violence in northeast India before a no confidence vote brought by the opposition in an attempt to force a debate in a legislature dominated by his allies. Modi won’t lose the parliamentary vote scheduled on Thursday as the coalition led by his Bharatiya Janata Party has a supermajority in ...

DUBAI / WAM DXB LIVE, the experiential agency of Dubai World Trade Centre (DWTC), announced a 20% business growth in the first half of 2023, compared to the corresponding period in 2022. The agency successfully served 100 distinguished events, including 35 exhibitions, three conferences, 21 diverse public and entertainment events, and a range of concerts and graduation ceremonies. The number ...

ABU DHABI / WAM Borouge, a leading petrochemical company that provides innovative and differentiated polyolefin solutions, and Borealis, one of the world’s biggest polyolefin manufacturers, on Tuesday announced the launch of two new sustainable polymer products for the automotive industry, in line with both companies’ sustainability drive. Made from up to 70% recycled materials, they are the first sustainable products ...

DUBAI / WAM The UAE Astronaut Programme is a sustainable programme that aims to develop a national team of astronauts to achieve the country’s aspirations in scientific exploration, participate in manned exploration missions, and contribute to the global space exploration missions by developing and preparing a team of Emirati astronauts, a top official told the Emirates News Agency (WAM). Salem ...