News

Dubai / Emirates Business Careem, the region’s leading technology platform, has launched an online delivery platform for goods and services. Careem NOW is Careem’s expansion into the food delivery market as the company expands its platform beyond ride hailing to payments, delivery and mass transportation. Adeeb Warsi, MD of Careem NOW, said: “Careem NOW can do for food delivery what ...

ABU DHABI / WAM The Board of Management of the UAE’s Federal Authority for Nuclear Regulation (FANR), has reviewed progress of its operational activities and the 2019 Operational Plan where it includes projects aimed at strengthening the Authority mandate as the nuclear regulator in the UAE. During their sixth meeting, the Board learned about latest updates of the FANR ongoing ...

Dubai / WAM dnata has been expanding its operations and production in the Czech Republic to meet the growing demand for its quality inflight catering and inflight retail services. Operating a state-of-the-art facility at Vaclav Havel Airport, the company currently serves 18 airlines in Prague. dnata’s growth in 2018 has been driven by a new partnership with American Airlines and ...

Dubai / WAM The UAE government launched an interactive initiative, titled, ‘Government Experience Dialogue’, to showcase innovative technologies and the latest developments of leading companies and institutions, as well as to explain the effects of these technologies on future government services. The dialogue sessions are part of a series of initiatives that aim to gather decision-makers and international experts, to ...

Bloomberg In the uproar over Carlos Ghosn’s alleged financial improprieties, the former chairman of Nissan Motor Co. has received most of the heat. Now, the scrutiny has expanded to the role of the Japanese automaker and its chief executive officer: Hiroto Saikawa. Tokyo prosecutors on December 10 indicted Nissan, as well as Ghosn, for allegedly misleading investors and the government ...

Bloomberg Byju’s, an Indian education startup, more than doubled its valuation to $3.6 billion after a funding round led by Naspers Ventures and the Canada Pension Plan Investment Board. The company raised $540 million, which will be used to fuel an expansion into English-speaking countries, Bangalore-based Byju’s said in a statement. The new valuation puts it among the top five ...

Bloomberg Shares of billionaire Anil Agarwal’s Vedanta Ltd. surged in Mumbai after the country’s National Green Tribunal said the company could restart its copper smelter that accounts for nearly half of India’s output. Vedanta’s shares rose as much as 6.3 percent in Mumbai on Monday, paring losses to 37 percent this year, after the tribunal quashed the Tamil Nadu state ...

Bloomberg Hyundai Motor Co. and Kia Motors Corp. were sued by US drivers over an alleged defect that could cause certain engines to catch fire, adding pressure on the South Korean automakers being probed by US authorities. More than 350 consumer complaints were reported to the US National Highway Traffic Safety Administration (NHTSA) over non-collision fires in Hyundai and Kia ...

Bloomberg Jaguar Land Rover (JLR) will announce plans early next year to cut thousands of jobs as part of a turnaround strategy, the Financial Times reported, citing several unidentified people close to the company. The UK luxury carmaker, owned by India’s Tata Motors Ltd, will outline the measures in January as part of a three-year cost-cutting programme, the report said. ...

Bloomberg Takeda Pharmaceutical Co.’s credit rating was cut by Moody’s Investors Service, which cited the drugmakers’ ballooning debt level following its $62 billion acquisition of Shire Plc. Moody’s cut Takeda’s credit rating three notches to Baa2 from A2, according to a statement. That’s still investment grade, and Moody’s said the outlook is stable based on expectations that Takeda will reduce ...