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Dubai grocer Spinneys tops Dh1 billion in sales amid war tensions
Dubai: Supermarket giant Spinneys crossed the Dh 1 billion revenue mark in the first quarter of 2026, even as regional conflict disrupted freight routes and slowed consumer activity in March.Sign up for our daily business newsletter, Cheques & Balances.The DFM-listed company reported revenue of over Dh 1 billion for the three months ended March 31, up 11.9 per cent from Dh 906 million a year earlier. Profit for the period rose 1.9 per cent to Dh87 million, while profit before tax remained largel...
UK borrowing costs hit highest since 1998 amid Starmer uncertainty
Bond yields soar and pound falls against dollar as investors brace for potential Labour leadership changeBusiness live – latest updatesUK politics live – latest updatesLong-term UK borrowing costs have soared to the highest level in nearly three decades while the pound and stocks fell, as investors braced for a potential change of leadership, with cabinet ministers urging Keir Starmer to quit.Starmer is consulting colleagues before a crunch cabinet meeting on Tuesday morning that comes after min...
Mitsubishi Heavy Sees Global Gas Turbine Demand Staying Strong
Global orders for gas turbines will “decline slightly” this year from 2025, but remain strong due to the build-out of data centers, according to Mitsubishi Heavy Industries Ltd., a major manufacturer of the equipment used in power plants.
Nationwide £3,500 update for new and existing customers
Nationwide Building Society has announced a series of changes
Petrol-Diesel Price Hike Signal: देश में कितने दिन का तेल है... क्या बढ़ने वाले हैं पेट्रोल-डीजल के दाम? मंत्री ने दिए संकेत
PetrolDiesel Price Hike Signal
Tata Sierra की बंपर डिमांड, 30 हजार ने खरीदी दमदार SUV
Tata Sierra SUV
Greggs ups prices of meal deals again and cautions over Iran war cost hit
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Trade turnover in EAEU exceeds $95 bln in 2025 — Russian Deputy Foreign Minister Galuzin
Mikhail Galuzin said that foreign countries are paying attention to positive results of Eurasian economic integration and are striving to become partners of the EAEU
Mubadala invests $325 million in UK offshore wind project Hornsea 3
Dubai: Abu Dhabi sovereign investor Mubadala said on Tuesday it would invest $325 million in Ørsted’s Hornsea 3 offshore wind farm in the United Kingdom, joining a consortium led by funds managed by Apollo Global Management.Get updated faster and for FREE: Download the Gulf News app now - simply click here.Hornsea 3, located off the Norfolk coast in eastern England, is expected to become the world’s largest single offshore wind farm once completed, with planned generation capacity of 2.9 gigawat...
From Hormuz to renewables: Inside China’s race for energy security
What happens when the country that imports the most energy thinks that future energy crises are inevitable rather than exceptional? China’s answer has been clear: prepare for every possible scenario.From record investments in solar and wind energy to expanding nuclear power, importing massive volumes of liquefied natural gas (LNG), building strategic petroleum reserves, and signing long-term oil agreements with Gulf producers, Beijing is constructing one of the most comprehensive energy security...
Fortescue ordered to pay Yindjibarndi traditional owners $150m in record native title payout
Federal court found miner’s Solomon Hub iron ore mine caused cultural and social harm, including the destruction of 140 heritage sitesFollow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastMining company Fortescue has been ordered to pay $150m in compensation to traditional owners over cultural losses caused by the multibillion-dollar Solomon Hub iron ore mine – the largest compensation payout in native title history.The mine, which has e...
UK government borrowing costs hit 28-year high on leadership uncertainty
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Five former Carillion executives banned by accountancy regulator
Richard Adam, Zafar Khan and three others are also fined by Financial Reporting CouncilBusiness live – latest updatesFive former executives at the collapsed government contractor Carillion have been bannedby the UK’s accountancy regulator, effectively ending the career of its former finance chief, after they “acted recklessly”.Before Carillion collapsed into compulsory liquidation in January 2018 – one of the biggest corporate failures in UK history – it was a large multinational construction an...
German Regulator to Push Insurers to Fix Private Credit Failings
Germany’s top financial regulator will step up pressure on insurers to address shortcomings in private credit investments and issued a warning on an asset class increasingly marketed to retail clients.
UAE’s exit from OPEC increases importance of OPEC+ for Russia — economist
Igbal Guliyev believes that "under conditions of weakening internal discipline within OPEC, Russia will rely less on rigid collective restrictions and more on flexible coordination of production parameters and market signals with partners within OPEC+"
ADNOC Gas warns Hormuz disruption to hit Q2 earnings after resilient Q1
Dubai: ADNOC Gas said on Tuesday it expects the ongoing disruption to maritime traffic through the Strait of Hormuz to weigh on second-quarter earnings, even as the company reported resilient first-quarter profit and maintained its long-term growth targets despite security incidents at its Habshan gas processing complex.Get updated faster and for FREE: Download the Gulf News app now - simply click here.The Abu Dhabi-listed company reported net income of $1.1 billion for the first quarter of 2026...
69 days of crude, 45 days of LPG stock: Petrol minister Puri assures ‘no supply issue’
Union Minister Hardeep Singh Puri assured stable fuel and cooking gas supplies, stating the country holds 69 days of crude oil and LNG reserves and 45 days of LPG. Daily LPG production has been significantly increased to 54,000 tonnes amid Middle East geopolitical tensions. Puri also echoed Prime Minister Modi's call for austerity to mitigate economic pressures.
Britain battered by markets as Labour chaos takes hold with Burnham-backing Left demanding post-Starmer spending spree and vowing to torpedo Streeting
Britain battered by markets as Labour chaos takes hold with Burnham-backing Left demanding post-Starmer spending spree and vowing to torpedo StreetingBy JAMES TAPSFIELD, UK POLITICAL EDITOR Published: 08:50, 12 May 2026 | Updated: 08:50, 12 May 2026 e-mail View comments
Snack giant switches to black and white packaging as Iran war hits ink supplies
Snack giant switches to black and white packaging as Iran war hits ink suppliesJust nowShareSaveAdd as preferred on GoogleOsmond ChiaBusiness reporterCalbeeCalbee is Japan's biggest snack makerJapanese snack giant Calbee says it will temporarily switch to black and white packaging for some its best-known products as supplies of an ingredient used in ink have been disrupted by the Iran war.The firm says new-style packets for 14 of its products, including crisps and prawn crackers, will start to a...
GM lays off hundreds from tech team as firm looks to hire engineers with 'special skills'
General Motors has laid off over 600 IT employees, signaling a significant shift towards AI-focused hiring. The automaker is replacing traditional IT roles with specialists in AI development, data engineering, and cloud infrastructure. This strategic 'skills swap' aims to build AI systems internally, rather than just integrating AI tools, reflecting a broader industry trend.