Tabreed reports net profit of Dh472.2 million in 2019

Abu Dhabi: The National Centre Cooling Company — Tabreed — on Tuesday disclosed their financial results for 2019 reporting a net profit increase of 11 per cent to Dh472.5 million. The company’s audited report also showed group revenue at Dh1.5 billion, representing a five per cent increase from the previous year, with the company adding […]

Tesla should rebrand ‘flawed’ Autopilot system, senator urges

New York: Tesla Inc. should rebrand the driver-assistance technologies it markets as Autopilot and take additional steps to ensure drivers pay attention to the road while using the system, Senator Edward Markey said. “Autopilot is a flawed system, but I believe its dangers can be overcome,” Markey, a Massachusetts Democrat, said in emailed statement on […]

New gas field discovered in Sharjah

The Sharjah National Oil Corporation, SNOC, has announced on Monday the discovery of an inland gas field. The new natural gas and condensate field, called “Mahani”, in the Emirate of Sharjah has flow rates of up to 50 million standard cubic feet per day, along with the liquids associated with it, according to the Sharjah […]

Lebanon’s parliament passes 2020 budget amid financial crisis

BEIRUT: Lebanon’s parliament passed the 2020 budget on Monday although its finance committee chief said the forecast revenues might be unrealistic as the country wrestles with a major economic and financial crisis. The 2020 budget envisages a deficit of around 7% of GDP, the head of parliament’s budget and finance committee, Ibrahim Kanaan, told Reuters, […]

Dubai port operator DP World suspends staff travel to China

DUBAI: DP World, one of the world’s largest port operators, has suspended all staff travel to China until further notice due to the coronavirus outbreak there. Companies including Facebook, LG Electronics and Standard Chartered are among those restricting travel for employees to China, where the death toll from a flu-like virus rose above 100 on […]