Arabtec Holding yesterday scotched reports that it had abandoned plans to build what could be Europe's tallest tower in Russia because of political instability.
It is the latest twist in the history of the controversial St Petersburg project that was originally announced six years ago.
Gazprom Neft, the oil arm of Russia’s national gas company, struck its initial deal with the contractor in April 2008. But it was delayed by a series of planning issues. A first phase contract was subsequently awarded in 2012.
Yesterday the builder said it was on track with the 400 metre-tall tower. The stock rose 9.4 per cent.
"The project is well on its way as per the schedule agreed upon with Gazprom," it said in a filing to the Dubai Financial Market.
The tower, which will house Gazprom’s headquarters, is expected to be Europe’s tallest tower on completion.
Foreign investment in Russia has come under scrutiny since the toppling of Ukraine president Viktor Yanukovich in February. That was followed by Russia’s annexation of the Crimean peninsula, part of Ukraine, but with a Russian-speaking majority.
An Arabtec spokesman said that the builder would strengthen its presence in Russia while seeking to develop more partnerships.
The contractor, which is part-owned by Abu Dhabi’s Aabar, has snapped up a series of high profile contracts in recent months with projects announced from North Africa to Eastern Europe.
Last month it reported its order backlog had increased by more than a fifth over the last year to Dh24 billion.
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Company Profile
Name: Direct Debit System
Started: Sept 2017
Based: UAE with a subsidiary in the UK
Industry: FinTech
Funding: Undisclosed
Investors: Elaine Jones
Number of employees: 8
SPEC SHEET: NOTHING PHONE (2)
Display: 6.7” LPTO Amoled, 2412 x 1080, 394ppi, HDR10+, Corning Gorilla Glass
Processor: Qualcomm Snapdragon 8+ Gen 2, octa-core; Adreno 730 GPU
Memory: 8/12GB
Capacity: 128/256/512GB
Platform: Android 13, Nothing OS 2
Main camera: Dual 50MP wide, f/1.9 + 50MP ultrawide, f/2.2; OIS, auto-focus
Main camera video: 4K @ 30/60fps, 1080p @ 30/60fps; live HDR, OIS
Front camera: 32MP wide, f/2.5, HDR
Front camera video: Full-HD @ 30fps
Battery: 4700mAh; full charge in 55m w/ 45w charger; Qi wireless, dual charging
Connectivity: Wi-Fi, Bluetooth 5.3, NFC (Google Pay)
Biometrics: Fingerprint, face unlock
I/O: USB-C
Durability: IP54, limited protection
Cards: Dual-nano SIM
Colours: Dark grey, white
In the box: Nothing Phone (2), USB-C-to-USB-C cable
Price (UAE): Dh2,499 (12GB/256GB) / Dh2,799 (12GB/512GB)
Three ways to limit your social media use
Clinical psychologist, Dr Saliha Afridi at The Lighthouse Arabia suggests three easy things you can do every day to cut back on the time you spend online.
1. Put the social media app in a folder on the second or third screen of your phone so it has to remain a conscious decision to open, rather than something your fingers gravitate towards without consideration.
2. Schedule a time to use social media instead of consistently throughout the day. I recommend setting aside certain times of the day or week when you upload pictures or share information.
3. Take a mental snapshot rather than a photo on your phone. Instead of sharing it with your social world, try to absorb the moment, connect with your feeling, experience the moment with all five of your senses. You will have a memory of that moment more vividly and for far longer than if you take a picture of it.
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RESULTS
5pm: Handicap (PA) Dh70,000 1,400m
Winner: AF Tathoor, Tadhg O’Shea (jockey), Ernst Oertel (trainer)
5.30pm: Handicap (TB) Dh70,000 1,000m
Winner: Dahawi, Antonio Fresu, Musabah Al Muhairi
6pm: Maiden (PA) Dh70,000 2,000m
Winner: Aiz Alawda, Fernando Jara, Ahmed Al Mehairbi
6.30pm: Handicap (PA) Dh70,000 2,000m
Winner: ES Nahawand, Fernando Jara, Mohammed Daggash
7pm: Maiden (PA) Dh70,000 1,600m
Winner: Winked, Connor Beasley, Abdallah Al Hammadi
7.30pm: Al Ain Mile Group 3 (PA) Dh350,000 1,600m
Winner: Somoud, Connor Beasley, Ahmed Al Mehairbi
8pm: Handicap (PA) Dh70,000 1,600m
Winner: Al Jazi, Fabrice Veron, Eric Lemartinel
Biog
Mr Kandhari is legally authorised to conduct marriages in the gurdwara
He has officiated weddings of Sikhs and people of different faiths from Malaysia, Sri Lanka, Russia, the US and Canada
Father of two sons, grandfather of six
Plays golf once a week
Enjoys trying new holiday destinations with his wife and family
Walks for an hour every morning
Completed a Bachelor of Commerce degree in Loyola College, Chennai, India
2019 is a milestone because he completes 50 years in business
Pox that threatens the Middle East's native species
Camelpox
Caused by a virus related to the one that causes human smallpox, camelpox typically causes fever, swelling of lymph nodes and skin lesions in camels aged over three, but the animal usually recovers after a month or so. Younger animals may develop a more acute form that causes internal lesions and diarrhoea, and is often fatal, especially when secondary infections result. It is found across the Middle East as well as in parts of Asia, Africa, Russia and India.
Falconpox
Falconpox can cause a variety of types of lesions, which can affect, for example, the eyelids, feet and the areas above and below the beak. It is a problem among captive falcons and is one of many types of avian pox or avipox diseases that together affect dozens of bird species across the world. Among the other forms are pigeonpox, turkeypox, starlingpox and canarypox. Avipox viruses are spread by mosquitoes and direct bird-to-bird contact.
Houbarapox
Houbarapox is, like falconpox, one of the many forms of avipox diseases. It exists in various forms, with a type that causes skin lesions being least likely to result in death. Other forms cause more severe lesions, including internal lesions, and are more likely to kill the bird, often because secondary infections develop. This summer the CVRL reported an outbreak of pox in houbaras after rains in spring led to an increase in mosquito numbers.
Our Time Has Come
Alyssa Ayres, Oxford University Press
Sweet Tooth
Creator: Jim Mickle
Starring: Christian Convery, Nonso Anozie, Adeel Akhtar, Stefania LaVie Owen
Rating: 2.5/5
COMPANY PROFILE
Company: Eco Way
Started: December 2023
Founder: Ivan Kroshnyi
Based: Dubai, UAE
Industry: Electric vehicles
Investors: Bootstrapped with undisclosed funding. Looking to raise funds from outside
Killing of Qassem Suleimani
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