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Business
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Elon Musk says Tesla’s total headcount will rise despite cuts
Chief Executive Officer Elon Musk said Tesla Inc.’s total headcount will increase, a day after telling employees he plans to reduce salaried staff by ... World News -
Over 1,000 foreign companies left Russia since Feb. 24: Report
Over 1,000 foreign companies have reduced, suspended, or ceased operations in Russia since it invaded Ukraine on February 24, a new report by the Kyiv ... Business -
Saudi Arabia crude exports fall to 7.235 mln bpd in March
Saudi Arabia’s crude oil exports in March fell to 7.235 million barrels per day from 7.307 million bpd in February, official data showed on Monday.For ... Energy -
High oil prices not sustainable for airlines: Emirates COO
Current high oil prices are not sustainable for airlines, the Chief Operating Officer of Emirates airline said.For the latest headlines, follow our ... Gulf -
Amazon ends COVID-19 paid leave for US workers
Giant online retailer Amazon.com Inc will end its paid time-off policy for employees with COVID-19 from May 2, the company told US-based staff on ... World News -
Pakistan women fight gender norms to build online health business
After surviving a car crash that left her hospital-bound and unable to walk for months, Saira Siddique embarked on a mission: Making health care ... World News -
UK judge dismisses Qatar claim over A321neo jet contract
A British judge on Tuesday denied a request by Qatar Airways to force Airbus to keep building A321neo jetliners in a setback to the airline as part of ... Gulf -
Twitter ‘on track’ to reach deal with Musk by Monday: Report
Twitter is “on track” to reach a deal with Elon Musk as early as Monday, according to CNBC citing a report.For the latest headlines, follow our Google ... World News -
Saudi Arabia’s new investment law to increase international business by over 50 pct
Saudi Arabia is emerging as a global hub for business, and the Ministry of Investment’s recent initiative to revamp the country’s legal system for ... Economy -
Indian billionaire Ambani scraps $3.2 billion deal that caused clash with Jeff Bezos
Billionaire Mukesh Ambani abandoned a plan to buy a teetering Indian retailer amid protracted legal challenges from Amazon.com Inc., potentially ... Retail -
UAE-India free trade agreement begins on May 1: Official
A free trade agreement between India and the United Arab Emirates comes into effect on May 1, 2022, according to a Tweet from the UAE’s foreign trade ... World News -
Saudi fintech firm FOODICS raises $170 mln from investors
FOODICS, a cloud-based technology firm serving restaurants in the Middle East, has raised $170 million from investors led by tech investor Prosus and ... Business -
National Bank of Kuwait’s first-quarter profit surges 38 percent
National Bank of Kuwait, the country’s biggest lender, reported on Tuesday a first quarter profit of $381.79 million (116.6 million dinars), a 38 ... Banking & Finance -
China’s Jan-March overall trade with Russia rises 28 percent to $38.2 bln
China’s overall trade with Russia rose to 243.03 billion yuan ($38.18 billion) in January-March, a Chinese customs spokesman said on Wednesday, up ... World News -
Saudi lender Tamweel Aloula announces highest-ever annual profit
Saudi Arabian lender Tamweel Aloula has achieved the highest annual profit in its history, with a $13.3 million (50 million riyals) before zakat ... Banking & Finance -
Emirates airline chief sees return to profit next year
Dubai’s Emirates expects to significantly reduce losses in the current financial year and return to profit next year, the airline’s president ... Gulf -
Dubai developer Union Properties says $42 mln ‘misappropriated’
A troubled Dubai real estate developer said Monday it suspected that $42 million had been “misappropriated” by the company’s former officials while ... Property -
S&P raises Saudi Arabia’s debt rating from stable to positive
Saudi Arabia had the outlook on its debt rating revised to positive from stable by S&P Global Ratings as oil trades above $100 per barrel.S&P revised ... Economy -
UAE President issues law to maintain balance in 2022 general budget: Finance ministry
The United Arab Emirates President Sheikh Khalifa bin Zayed Al Nahyan issued a federal law allowing the use of foreign reserves and international debt ... Gulf -
Israel’s OurCrowd to open AI R&D center in UAE’s Abu Dhabi
OurCrowd, one of Israel’s largest venture firms, plans to open an artificial intelligence-based research and development center in Abu Dhabi by early ... Technology -
Gulf bourses mixed, Aramco gains on 2021 profit boost
Major Gulf bourses were mixed in trading on Monday, with Saudi Arabia’s benchmark index rising a day after oil giant Saudi Aramco posted a surge in ... Gulf -
Shanghai Disneyland closes as virus rises, Shenzhen reopens
Shanghai Disneyland closed Monday as China’s most populous city tried to contain its biggest coronavirus flareup in two years, while the southern ... Coronavirus -
UK PM Boris Johnson visits Saudi Arabia’s SABIC plant in sign of strong business ties
UK Prime Minister Boris Johnson toured the SABIC Plastics Application Development Center during an official visit to Saudi Arabia on Wednesday, ... Gulf -
Saudi Arabia and Dubai’s AHOY secures $20 million in funding
Software development company AHOY, based in both Dubai and Saudi Arabia, has secured $20 million worth of funding, according to statement released on ... Technology -
UAE and Austria sign MoU on hydrogen production technology: WAM
The United Arab Emirates and Austria signed a memorandum of understanding to cooperate on advancing hydrogen production capacity in the UAE, Emirati ... Gulf -
AI recycling startup COO ‘energized’ to be selected for UAE accelerator
The COO of a company that builds artificial intelligence-powered recycling bins said it was “energizing” to be selected for a United Arab Emirates ... Technology -
Talabat’s new HQ scores Dubai’s largest office deal since 2019
A Brookfield Asset Management Inc. joint venture in Dubai scored the city’s largest office deal since 2019 after a Middle Eastern food-delivery firm ... Economy -
Virgin Mobile UAE becomes first operator to introduce biodegradable SIM cards in UAE
Virgin Mobile UAE has become the first telecom operator in the United Arab Emirates to introduce and offer new eco-friendly, biodegradable SIM cards, ... Telecoms -
UAE’s Fujairah marine fuel sales in January drop for third straight month
Sales of marine fuel in the United Arab Emirates’ Fujairah marine refueling and oil storage hub dropped seven percent in January, official data showed ... Energy -
Airbus hopes for ‘amicable solution’ in Qatar plane dispute
Airbus hopes to reach an amicable solution in a row with Qatar Airways over damage to the surface of A350 passenger jets, Chief Executive Guillaume ... Aviation & Transport