Tesla’s first Saudi showroom opens
The opening in Riyadh comes with Tesla sales dropping.Company News Business
After Instagram restrictions, Meta to introduce teen accounts for Facebook
Paris, France -- Meta on Tuesday announced that it was extending its teen accounts to its social network Facebook, after...Technology Business Culture & Society Geostrategy Global Social Tech & Media
From climate action to global aid: Inside UAE’s remarkable year
Abu Dhabi, UAE -- The UAE is bidding farewell to 2023, dubbed the ‘Year of Sustainability'. From hosting the relatively...UAE launched ALTÉRRA, the world’s largest private investment climate action vehicle, aimed at raising and mobilizing an additional $250bn for climate action.
Despite global headwinds, CBUAE projects 3.3 percent year-on-year growth projected for the UAE economy in 2024.
45 percent of Saudi employees work over 40 hours per week
Riyadh, Saudi Arabia -- Nearly 45.8 percent of employees in Saudi Arabia work more than 40 hours per week and...Figures also show that 46.6 percent of employees have received training on health and safety procedures, and 48.7 percent have health and safety departments in their workplace.
Data also shows that 7.8 percent of employees deal directly or indirectly with chemicals, medical waste, radioactive materials or toxic gases.
Bank takes over Amiantit subsidiary
The bank will absolve Amiantit of all its financial obligations.The debt being cleared constitutes approximately 50 percent of the total liabilities that Amiantit owes to various banks.
Preliminary estimates suggest the company will recognize profits worth US$128 million as a result of this settlement.
Maersk halts ships’ transit via Red Sea strait for 48 hours
COPENHAGEN, DENMARK - Shipping giant Maersk said on Sunday it was suspending the passage of vessels through a key Red Sea...The Maersk Hangzhou, a Singapore-flagged, Denmark-owned container vessel reported being struck by a missile while transiting the Bab al-Mandab Strait.
It appeared to be undamaged in that attack and "was able to continue its transit north", said Maersk, one of the world's largest shipping companies.
Saudi AZM gets independent director
Omar bin Fahd Al-Sunaidi's term will extend until Jun 2026.The decision was made at the firm’s Fourth Ordinary General Assembly meeting.
The assembly concluded with the appointment of PricewaterhouseCoopers (PwC) as the auditor for the Company's 2024 fiscal year.
13 million merchandise tons shipped via special corridor, says Ukraine
The corridor was created in August to link Ukraine's ports to the Bosphorus Straits, several weeks after Moscow refused to...Ukraine, on the Black Sea, has pushed Russia's much larger navy away from its coasts, allowing the resumption of grain exports
Russia had threatened to target ships arriving and leaving Ukrainian ports, and has attacked port and grain storage facilities
GCC Commercial Arbitration Centre to use AI in its operations
Manama, Bahrain-- The GCC Commercial Arbitration Centre has started to harness AI techniques, according to its secretary general, Dr. Kamal...The initiative aligns with the prevailing trends of leveraging technologies in digital transformation and fostering development across diverse sectors
Al Hamad said that around 92 percent of legal institutions and judicial bodies in the world plan to increase their use of AI in legislative and legal case analysis
Bahrain kicks off roadshow in China to boost tourism sector
Manama, Bahrain--The Bahrain Tourism and Exhibitions Authority (BETA) began a roadshow in Shanghai and Guangzhou, China, involving prominent travel, tourism,...The roadshow n China looks to promote Bahrain as a prominent tourist destination in regional and global markets
BETA tied up with the private sector to create distinctive tourism products that contribute to boosting the economy
ACC holds workshop in Jordan on dangers of human trafficking
AMMAN, JORDAN - Amman Chamber of Commerce (ACC), in cooperation with Ministry of Justice and Jordan Judicial Council (JJC), organized...The workshop aims to introduce human trafficking crime in Jordanian law and global pacts and the measures taken at the national level to help victims.
The workshop reflects the "important" role played by national institutions in combating human trafficking and raise awareness of its dangers.
Excel Astra to build facility in KEZAD
The fabrication unit will cost the firm US$5.44m.The new installation will benefit from the collective expertise of KEZAD and ASTRA to accelerate growth in the industry sector while creating jobs and providing products
The business facility is expected to source $21.78 million worth of goods and services from the local market annually, thereby strengthening the local economy
