The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.

  DUBAI / WAM Dar Al Ber Society (DABS) dispatched its second relief convoy to drought and famine-hit Somalia. Unlike the first campaign that was mostly focusing on securing necessary foodstuff assistance, a medical team has been sent to run a field hospital as part of the second convoy, which also included a number of experts to work on a ...

  ABU DHABI / WAM Strata Manufacturing PJSC (Strata), the advanced composite aero-structures manufacturing facility wholly owned by Mubadala Investment Company, on Saturday announced that Ismail Abdulla has been appointed as Chief Executive Officer, effective immediately. Ismail Abdulla served as Deputy CEO, and replaces Badr Al Olama, as CEO of Strata who has been in the role since 2012. Al-Olama ...

  DUBAI / WAM Dubai Electricity and Water Authority (DEWA) has organised a campaign to grant the wishes of its staff in non-supervisory positions, as part of its efforts to support the Year of Giving initiative. DEWA granted the wishes of 30 employees in grades 8 and below. Their wishes included laptops, iPhones, appliances, home furniture, shopping vouchers, and gifts for ...

  On Valentine’s Day, economist Kevin Grier quipped: “Roses are red. Pin one on your suit. America has eaten all the low-hanging fruit.” That pithy assertion is one of the most frightening propositions in the world today. There might be a way for a modern society to function without economic growth. But we don’t want to have to be the ...

  Given its rich history, Italy is rightly attached to its relics. Unfortunately, this affection for the past does not stop at the Colosseum: It applies to failing companies too. Take Alitalia, Italy’s loss-making flag carrier, which has survived for years thanks to a string of public and private rescues. On Tuesday, the airline went into administration, prompting the government ...

  When Tesla Inc. chief executive officer Elon Musk was asked if his burgeoning collection of startup companies might lead him to step away from the electric automaker, he said he’d stick around as long as he could “positively contribute” to its success. “The most valuable thing I could contribute is product design and technology,” he told analysts on the ...

  Bloomberg By the time Midwesterners fire up their furnaces this fall, the $2 billion Nexus pipeline is supposed to be pumping natural gas to heat homes from frosty Ohio to frostier Ontario. But six months out, the 255-mile (410-kilometer) pipeline exists only on paper. Until President Donald Trump fills key vacancies at an energy regulator, Nexus and other sprawling ...

  Bloomberg The number of spills tied to a natural gas pipeline that Energy Transfer Partners LP is building through Ohio is mounting. And so is the tension between the Dallas-based pipeline giant and state regulators. Last month, the company reported two spills that sent almost 50,000 barrels of drilling fluids flowing into Ohio wetlands while working to install its ...

  Bloomberg Iran will go along with whatever decision OPEC makes at its meeting later this month on whether to extend oil production cuts beyond June, Oil Minister Bijan Namdar Zanganeh said. “All indications are that the members want a renewal of the deal and we will go along with what they agree upon,” Zanganeh said on Saturday on the ...

  Bloomberg Two thirds of Indonesia’s major companies missed earnings estimates in the first quarter, but that’s done little to stop investors from pouring into this enduring emerging-market darling. Overseas funds pumped the most money into the market in April for any month since mid-2014, even as Indonesia’s capital region saw its business-friendly governor lose a re-election campaign. The Jakarta ...