• 85 animals set free at Prince Mohammed bin Salman Royal Reserve

    RIYADH, SAUDI ARABIA - The National Center for Wildlife, in cooperation with the Prince Mohammed bin Salman Royal Reserve released 85 endangered animals, the first batch in the 2023-2024 season. The release is part of the center's program with increasing and relocating endangered wild animals, restructuring ecosystems, and enriching the...

  • Rolls-Royce to cut 2,500 jobs

    It will cut six percent of its staff to build a leaner company.

  • Sheikha Bodour to chair revamped board at American University of Sharjah

    SHARJAH -- Dr. Sheikh Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, has outlines the restructuring of the Board of Trustees of the American University of Sharjah (AUS). The decree stipulates that the AUS Board of Trustees will be chaired by Sheikha Bodour bint Sultan bin...

  • Oman Air approves restructuring program to lower rising debt

    Muscat, Oman--Looking to address its mounting debt, Oman Air has backed a restructuring program to reduce its losses by 15 percent in the ongoing fiscal year while aiming to reach a break-even point by 2026.   The airline in May made a forecast of reducing its net loss by a further...

  • Google announces 12,000 job cuts globally, cites changing economic reality

    Google's parent company Alphabet announced about 12,000 job cuts globally citing a changing "economic reality", becoming the latest US tech giant to enact large-scale restructuring. The layoffs come a day after Microsoft said it would reduce staff numbers by 10,000 in the coming months, following similar cuts by Facebook owner...

  • H&M plans revamp, to cut 1,500 jobs worldwide as it leaves Russia

    Swedish fashion retailer H&M said Wednesday it would cut some 1,500 jobs worldwide as a result of a cost-cutting programme launched following its decision to leave the Russian market. "The programme relates to administrative and overhead costs, and also entails reducing the workforce by around 1,500 positions," the company said...

  • Al Sagr to cut capital

    It has sought shareholders' nod for 65% capital reduction.

  • UAE free zones set to gain from corporate tax relief

    Around 40 free zones in the UAE are likely to attract more investors and FDI after they were declared exempt from the upcoming corporate tax regime, experts tell TRENDS.

  • Evergrande undergoes rejig

    A state firm official was appointed to the Chinese firm’s board.

  • Goldman Sachs says Lebanon’s banking system to suffer $65bn losses

    Goldman Sachs, the US investment bank, has estimated that the restructuring of Lebanon’s financial system would leave the crisis-prone banks of the country with total losses of up to $65 billion, and might lead to insolvency.