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

  Brussels / AFP Vladimir Putin was the first global leader to welcome Donald Trump’s stunning election victory, which left much of the rest of the world anxious at the prospect of the businessman and reality-TV star at the helm of the world’s biggest economy and most powerful military. Putin sent a congratulatory telegram to Trump, and said later at ...

  Abu Dhabi / Emirates Business Oil companies that invest during the current downturn in oil prices stand to profit the most when supply and demand comes back into balance, according to the UAE’s Energy Minister, His Excellency Suhail Mohamed Faraj Al Mazrouei. Speaking on the sidelines of His Excellency’s Q&A discussion at ADIPEC’S VIP Programme on the UAE’s future ...

  Abu Dhabi / WAM Germany’s oil and gas producer Wintershall has spudded the first offshore well at Abu Dhabi’s sour gas and condensate field Shuwaihat, it said. Wintershall successfully completed the first onshore drilling at Shuwaihat together with its partner ADNOC and the Austrian OMV in July, 2015. After compiling and analyzing the data from the onshore field SH-5, Wintershall ...

  Abu Dhabi / WAM Turbine Services & Solutions Industrial, TS&S Industrial, today announced it has expanded new capabilities for the repair and overhaul of the Siemens Industrial Trent 60 WLE variant. The new services have established TS&S Industrial as the first independently owned, specialised and independent maintenance, repair and overhaul (MRO) provider with the capability to support the Industrial Trent ...

  Abu Dhabi / WAM ADNOC, Abu Dhabi’s integrated oil and gas company, said on Wednesday it will make significant investments in new projects to further increase its refining capability and expand its petrochemicals business over the next five years – as part of its recently announced ‘2030 Strategy’. The new projects will focus on gasoline and aromatics production and additional ...

  Gregg Petersen special to emirates business We’ve all heard about fantastic new data centre technologies, but all too often it looks like these technologies only seem to apply to the largest organizations with a wealth of centralized resources. Because data doesn’t just live in the data centre, we often face daily challenges when data is put to use in ...

  It certainly took everyone in India by surprise. But then, Prime Minister Narendra Modi has a flair for the dramatic. In an unexpected primetime address on Tuesday, he announced that in a few hours, millions of high-denomination currency notes would no longer be legal tender. It was the only way, he insisted, to deal with “the disease” of unaccounted-for ...

  A funny thing happened on the path to disruption. This decade, most of Silicon Valley’s big societal claims have turned out to be wrong. These claims arguably began around the time this cycle’s real expansion began, in late 2011. Two scholars’ 2011 text, “Race Against the Machine,” looked at some of the problems plaguing the U.S. economy — stagnant ...

  Noah Smith A little while ago, I wrote that libertarianism — the small-government philosophy codified by Robert Nozick and others in the mid-20th century — is looking a little shopworn. As efforts to slash government yield diminishing returns, and empirical evidence piles up that many government interventions are very beneficial, the minimalist state envisioned by Nozick et al. doesn’t ...

  Bloomberg Buyers of Airbus Group SE’s troubled re-engined A320 narrow-body jet are preparing for delays to the aircraft extending into next year as they scale back fleet plans and seek compensation. IndiGo, India’s biggest airline, will operate fewer of the A320neo jets in the current financial year than previously estimated, while AerCap Holdings NV, which has more than 220 ...