News

  Ras Al Khaimah / WAM Ras Al Khaimah Economic Zone (Rakez) continues to support big players in the agri-tech sector with the setting up of Al Amir Food Industries’ (Aafi) 13,500 m2 processing unit for healthy pulses and spices. With an investment of AED35 million in its new factory at Al Ghail Industrial Zone, the Indian company will create ...

  Dubai / WAM Imdaad, a Dubai-based group of companies that provides integrated, sustainable facilities management services, has secured a contract to provide comprehensive common area cleaning services, along with room attendant services, to the Dubai Foundation for Women and Children (DFWAC), the first licensed non-profit shelter in the UAE for women and children. Under its year-long agreement with DFWAC, ...

  Abu Dhabi / Gulf Time “Al- Shaqi” owned by His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, crowned as the champion of the Sheikh Zayed Festival for 60- foot sailing bearings, in the first round of this category, which was launched by the Abu Dhabi Marine Sports Club. The race was held under ...

  Bloomberg London house prices flatlined, recording their worst performance in more than three years, one of the UK’s biggest mortgage lenders said. The cost of an average home in the capital hit £530,396 ($637,720) in January, unchanged from a year earlier, according to Halifax. This was the slowest rate of growth since November 2019, when prices fell by 1% ...

  Bloomberg Apollo Global Management Inc. is among investors showing interest in taking a stake in Credit Suisse Group AG’s new investment bank unit, as the lender continues to seek investors to help fund its spin-out, the Wall Street Journal reported. Talks with Apollo are continuing and could still fall apart, the paper reported, without giving further details. Bloomberg reported ...

  Bloomberg Britain’s postal workers won’t be going on strike this month after Royal Mail challenged a walkout planned for later this month. The Communication Workers’ Union, which represents over 100,000 post-delivery staff, said Monday that it called off strikes for Feb. 16-17 because it believed a new ballot for further industrial action could be affected if it lost a ...

  Bloomberg Vanguard Group Inc. is accelerating its push into Australia’s A$3.3 trillion ($2.3 trillion) pensions market just months after launching its debut fund in the fiercely competitive sector. The US behemoth plans to offer a retirement investment product in the country by mid-year at the earliest, Australian head Daniel Shrimski said in an interview. Vanguard unveiled its debut Australian ...

  Bloomberg KKR & Co. passed $500 billion in assets under management during the fourth quarter even as earnings fell 41% on sluggish asset sales. The New York-based firm raised $16 billion of new capital in the quarter to reach $504 billion in AUM, it said in a statement. Distributable earnings fell to $822 million, or 92 cents a share, ...

  Bloomberg As Meta Platforms Inc., Alphabet Inc. and other Silicon Valley behemoths look to lighten payrolls after years of feverish hiring, a clear target has emerged: the middle manager. Meta will be cutting some layers of management, Chief Executive Officer Mark Zuckerberg said on the company’s earnings call Wednesday, naming 2023 its “Year of Efficiency.” The company let go ...

  Dubai / Gulf Time Marrybrown, one of the leading halal-quick service restaurants in UAE, opened its Dubai International Airport Terminal 1 outlet. Hadi Ebrahim Al Abbas, Chief Communications Officer – Al Abbas Group said that the opening of the outlet is a momentous occasion and a testimony to the patronage that Marrybrown has in this region. “We have been ...