UK’s richest family get jail terms for exploiting staff at Swiss villa
Geneva, Switzerland -A Swiss court handed jail sentences to four members of Britain's richest family on Friday, branding them "selfish" for...
Business
JPMorgan to launch ‘Pay With Your Face’ Shopping
JPMorgan Chase is reportedly preparing to launch a biometric payments system for the masses, the Daily Hodl reported quoting the American...
Business
Business
Disney sacks CEO Bob Chapek
It has brought back former CEO Bob Iger to take back the reins.
- The change, a dramatic turn of events for one of the largest media conglomerates in the world, was effective immediately, Disney said in a statement
- Chapek spent two years as CEO, a period that saw Wall Street concerned about rising expenses at the company
Business
AD Ports Group and Transmar launch new Pakistan Service
The new container shipping service links Karachi with the region’s major ports within UAE, KSA, Egypt, Jordan, Sudan and Djibouti.
- The new container shipping service links Karachi with the region’s major ports within UAE, KSA, Egypt, Jordan, Sudan and Djibouti
- The new route will contribute to AD Ports Group’s strategic objectives of increasing regional and global connectivity
Business
Riyadh, Dubai, Kuwait lead MENA in supporting startups as region sees drop in investment levels
Riyadh has surpassed all other MENA cities in terms of startup activities with higher literacy rate, faster average broadband speed,...
- Riyadh has surpassed all other MENA cities in terms of startup activities with higher literacy rate, faster average broadband speed, a latest report points out
- Startups in MENA had raised $173 million across 51 deals until September end, marking a 54 per cent month-on month-drop in investment value
Business
FIFA says 2.95 million World Cup tickets sold
Queues have built up outside the FIFA ticket centre in Doha and fans report long waits to get onto the...
- Qatar has already overtaken Russia 2018, when just over 2.4 million tickets were sold
- The start of the World Cup has led to a surge of interest in the 64 matches over 29 days
Economy
Abu Dhabi launches smart manufacturing index
ABU DHABI, UAE - The Abu Dhabi Department of Economic Development (ADDED) has launched the 'Abu Dhabi Smart Manufacturing Index',...
- The Index empowers manufacturers with the necessary knowledge and training to initiate an Industry 4.0 transformation journey.
- It breaks down sophisticated concepts into six building blocks to provide a clear and easy-to-follow roadmap.
Business
Saudi firm partners with Trump Organization in $4 bn Oman project
Riyadh, Saudi Arabia - A Saudi real estate firm has partnered with the Trump Organization on a $4 billion golf...
- The deal involves the Dar Al Arkan Global Company, a subsidiary of Dar Al Arkan Real Estate Development Company.
- Washington and Riyadh are currently at odds over the OPEC+ oil cartel's decision last month to cut its production.
Business
Mawani announces new freight service at King Abdulaziz Port
Riyadh, Saudi Arabia---Saudi Arabia’s General Authority for Ports (Mawani) Sunday announced a new freight service, at the King Abdulaziz Port...
- The service connects King Abdulaziz Port with six major regional and international ports.
- This coincides with the launch of the added EJBS service from the Emirates Shipping line.
Business
Sales of Al Rahmaniyah Commercial Lands begins
SHARJAH, UAE - ASAS Real Estate Company, the real estate arm of Sharjah Islamic Bank (SIB), announced the launch of...
- The project follows increasing demand for the company's latest real estate projects.
- The project benefits from close proximity to Emirates Road, Sharjah Airport and Sharjah University City.
Business
UAE sets 31 Dec. deadline for availing redetermination of tax penalties
Abu Dhabi, UAE---The Federal Tax Authority (FTA) has called on registered taxpayers to benefit from the decision to re-determine administrative...
- Taxpayers asked to ensure they meet the conditions set out in the Cabinet Decision on re-determining administrative penalties imposed on tax law violations in the UAE.
- Eligible taxpayers must complete all related procedures through the e-services portal on its official website before 31 December 2022 to be able to benefit from these facilities.
Geostrategy
Musk reinstates Trump’s Twitter account after poll
Trump, who had more than 88 million users when his accounted was suspended, reveled in using Twitter as a mouthpiece...
- Trump's account was banned from the platform early last year for his role in the January 6 attack on US Capitol by a mob of his supporters
- Musk's poll asked for a simple "yes" or "no" response to the statement "Reinstate former President Trump," which the billionaire Twitter boss posted Friday
Most Read
Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
UK’s richest family get jail terms for exploiting staff at Swiss villa
Geneva, Switzerland -A Swiss court handed jail sentences to four members of Britain's richest family on Friday, branding them "selfish" for...
Business
Company News
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MoHRE asks over 12,000 private firms to meet Emiratization targets
DUBAI, UAE – The Ministry of Human Resources and Emiratization (MoHRE) has notified over 12,000 private companies with 20-49 workers...
Geostrategy
Abu Dhabi positioned in world’s fastest-growing economic corridor: Official
Abu Dhabi, UAE -- Dr. Karim El Solh, Co-Founder and Chief Executive Officer at Gulf Capital, said Thursday Abu Dhabi...
Business
Saudi consumer spending up 4 percent in October: SAMA
Riyadh, Saudi Arabia -- Consumer spending in Saudi Arabia increased 4 percent to SAR 110 billion ($29.32 billion) in October,...
Business
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Business
Honda to make electric mopeds
It will pour US$3.4bn into the new venture this decade.
- The company said it plans to launch 30 new electric models by 2030 and to reduce the current cost of electric motorcycles by 50 percent
- In 2022, the electric motorcycle market was worth $30 billion and is expected to grow by almost 19 percent per year between 2023 and 2030
Business
Fintech fuels growth in Islamic finance sector
Islamic banking, making up 70% of the Islamic finance market's assets, is undergoing a transformative phase, fueled by fintech innovations...
- Islamic banking, making up 70% of the Islamic finance market's assets, is undergoing a transformative phase, fueled by fintech innovations and poised to hit $4 trillion by 2026
- The UAE and Saudi Arabia are at the forefront of the Islamic fintech revolution, setting new digital standards and driving the sector's global expansion, says a latest report
Economy
UAE and Cuba look to boost economic, energy ties
The discussions between the UAE president and the Cuban president at Expo City Dubai focused on cooperation in various fields...
- The meeting also covered the UN Climate Change Conference (COP28), starting today at Expo City Dubai
- The two leaders exchanged views on regional and international developments and a number of other issues