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Nestle to cut 16,000 jobs

The company's shares shoot up 8%.

Multiply Group buys stake in ISEM

Multiply Group will hold 60.8% of ISEM.

Bosch to cut 13,000 jobs

This is a blow to Germany's ailing car sector.

Aldar ups stake in Aldar Estates

Acquires Modon Holding’s 17.45% stake

Oracle shares up 35%

Huge AI contracts lead to the surge.

  • Pfizer already working on Covid vaccine targeting Omicron: CEO

    Bourla likened the situation to the scenario earlier this year when Pfizer and its German partner BioNTech developed a vaccine...

    Bourla likened the situation to the scenario earlier this year when Pfizer and its German partner BioNTech developed a vaccine in 95 days against Delta which was not used

    On Monday, the World Health Organization warned the new Covid-19 Omicron variant poses a "very high" risk globally

  • Twitter gets new CEO

    Parag Agrawal named to the post as Jack Dorsey resigns.

    Twitter's chief technology officer Parag Agrawal has replaced Jack Dorsey as CEO

    Dorsey has said he would remain a member of the board until around May next year to help with the transition

  • Marka Group’s bankruptcy a lesson for GCC firms?

    Barry Greenberg, Of Counsel at BSA Ahmad Bin Hezeem & Associated, breaks down what a landmark bankruptcy ruling means for...

    The Marka Group ruling has brought into sharp focus the bankruptcy laws prevalent in the GCC countries in general and the UAE in particular

    They have also spurred calls for reform in the local bankruptcy laws, so that investors or the company don’t lose value

  • Multiply Group to list on ADX

    Multiply Group has assets of AED 8.16 billion and 3,240 employee

    The group’s listing on ADX will offer investors the opportunity to invest in the field of disruptive digital technology and other key industries

    The company’s combined portfolio strikes a balance between companies that generate recurring income and high-growth businesses

  • Saudi motorsports chief says F1 debut is ‘signal’ to the world’

    The newly built venue in Jeddah is all but completed ahead of Sunday's night race just over a year after...

    The newly built venue in Jeddah is all but completed ahead of Sunday's night race just over a year after Saudi Arabia was announced as the wealthy Gulf region's latest F1 host

    Formula One is part of a campaign to show a friendlier face as the world's top oil exporter tries to attract foreign businesses and diversify its economy

  • UAE seeks to diversify economy beyond oil

    With little oil but the most diversified economy in the Gulf, Dubai has gone from a fishing village to a...

    With an economy second only to Saudi Arabia in the Gulf, the Emirates is one of the easiest countries in the world to do business, according to the World Bank

    But having diversified its economy over the decades, it relies less and less on petrol, with revenues now making up only 30 percent of its GDP

  • Emirates Stallions acquires stake in WFC

    Acquisition aimed at diversifying Emirates Stallions' business.

    WFC’s main revenue drivers are Real Estate, Retail, Aerospace, Defense, Government, Education, Technology, Manufacturing, Hospitality, and F&B.

    Emirates Stallions Group is present in 20 markets and has assets of AED555 million as of the end of Q2 2021 and over 3,000 employees.

  • Khalifa University sets up a business unit with AED100m

    Khalifa University of Science and Technology has launched a business and investment arm of the university named Khalifa University Enterprises...

    Khalifa University Enterprises Company will include ‘Innovation Acceleration and Startups’ and ‘KU Ventures’

    Its mission is to boost and speed up business engagements with the University

  • UAE and Greek credit insurance organizations to promote businesses

    The UAE's federal export credit company Etihad Credit Insurance (ECI) signed an MoU with Greece’s Export Credit Insurance Organization (ECIO)...

    An MoU between Etihad Credit Insurance and Greece’s Export Credit Insurance Organization will also promote SMEs.

    This agreement follows the recent UAE-Greece high-level diplomatic meetings between the ministers of both countries.

  • Kuwait begins a drive to educate people on virtual assets

    The Central Bank of Kuwait (CBK) and Capital Market Authority (CMA) have launched a campaign to educate people about virtual...

    The CBK and the CMA said in a joint statement on Sunday the campaign was launched as part of efforts to raise people's awareness as how to deal with these assets

    Traders in the digital assets are prone to fall prey to scam, thus these online dealings are quite risky, particularly for individuals