Saudi female entrepreneur wins global innovation prize

Sunday, 19 November 2017

A Saudi entrepreneur from the petrochemical industry, Ghazael Aldossary, won the Merit Prize at Shell LiveWIRE’s ‘Top Ten Innovators’ global competition which highlights and rewards LiveWIRE businesses that demonstrate excellence in innovation.Through Ghazael’s company, Oriental Promises Trading, she connects large manufacturers to waste materials which can be repurposed for their needs, reducing the volume of industrial waste going to landfills.Specializing in the ...

Azad Kashmir: Pakistan’s treasure chest of rubies

Monday, 16 October 2017

The people of Azad Jammu and Kashmir (AJK) are sitting on a treasure chest: millions of rubies, estimated to be worth up to half a billion dollars, are lying beneath them.But archaic tools and a lack of investment in infrastructure and techniques are hampering efforts to transform the area into a significant player in the gem industry."Mining is done by small blasts – and we lose 40 to 50 percent of the value of the stones, and secondly due to lack of investment in our corporation we ...

Uber trains women to drive in Saudi Arabia

Wednesday, 4 October 2017

Uber has announced its intention to set up a specialized training center for women who want to work in the company in Saudi Arabia, pointing out that 80% of the users of the Uber app are women. “We welcome the decision for women to drive in Saudi Arabia,” said Pierre Coty, Uber vice president and head of operations for Europe, Middle East and Africa, pointing out that 80% of the app’s users are women and revealing the company’s intention to establish a specialized ...

Lego looks wobbly after building itself high

Tuesday, 5 September 2017

For Lego, it’s time to break down the blocks and start again.After building up sales aggressively since a near bankruptcy in 2004 through new ventures like films and new toy lines, the company seems to have hit a peak. Its sales are now falling for the first time in 13 years and it says it needs to simplify its operations.That means cutting 1,400 jobs, or eight percent of its global workforce.The privately held Danish firm said Tuesday that it “now prepares to reset the ...

Bitcoin plunges, recovers after China bans virtual fundraising

Tuesday, 5 September 2017

China’s decision to clamp down on bitcoin and other crypto-currencies has sent a shock through the world’s virtual currency markets, an indication of the power of the country’s investors in the exchanges.The bitcoin steadied Tuesday internationally after dropping sharply following Beijing’s decision to ban initial coin offerings.The central bank has decreed that Chinese firms will no longer be able to issue electronic currency units to raise funds.The offerings, which had ...

Barcelona attack dents travel stocks as global sell-off spreads to Europe

Friday, 18 August 2017

European travel stocks fell sharply in early trading on Friday after a deadly attack in tourist hotspot Barcelona, with investors also increasingly concerned the Trump administration was fraying at the seams. As a global sell-off spread, the pan-European STOXX 600 was down 0.9 percent by 0725 GMT, with blue-chips down 1 percent, following falls in Asian and US stocks overnight. Travel and leisure stocks led sector losers, down 1.4 percent, with airlines the worst-performing as investors dropped ...

Fugitive’s trail exposes Red Bull co-owners’ offshore deals

Thursday, 17 August 2017

The Bangkok billionaire family that co-founded Red Bull, the world’s leading energy drink, uses offshore companies to cloak purchases of jets and luxury properties, including the posh London home where the clan’s fugitive son was last seen. The Yoovidhya family’s efforts to hide assets show how easily major global financial players can routinely - and, usually, legally - move billions of dollars with little or no oversight. The family’s confidential deals were ...

Dubai’s Emaar Properties posts 14 percent rise in second-quarter profit

Monday, 14 August 2017

Dubai’s Emaar Properties, which is planning a partial listing of its UAE development operation, reported a 14.4 percent increase in second-quarter profit on Monday. Emaar, in which Dubai’s government owns a minority stake, made $394.8 million (1.45 billion dirham) of profit attributable to the owners of the company for the three months to June 30, it said in a bourse filing, on revenue that rose 1.9 percent to $103 million. The profit, up from $345.7 million a year earlier, beat a ...

France, UK among countries urged to check eggs with insecticide

Monday, 7 August 2017

The European Union has notified food safety authorities in Britain, France, Sweden and Switzerland as a precautionary measure that some eggs contaminated with an insecticide might have entered their territory. The European Commission said Monday that Germany and the Netherlands notified the EU’s food safety alert system over the weekend. Commission spokeswoman Anna-Kaisa Itkonen said the aim was “to share the information so that everybody knows that it's now also up to the Swedish, ...

Bahrain denies reports of hike in toll tax on King Fahd Causeway

Monday, 31 July 2017

A Bahraini official has denied that Bahrain increased toll fees from 2.5 BHD to 3.5 BHD for small vehicles crossing through King Fahd Causeway.The source added that there’s no intention to increase the toll fees, adding that the tax is still the same, 2.5 BHD for small vehicles and 3.5 BHD for light trucks and small buses, Bahraini daily Al-Ayam reported.The source also voiced surprise that some are trying to spread misleading information, adding that rumors on the matter have spread in ...

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