News

  Dubai / Gulf Time The world is witnessing a game changer unravel in Saudi Arabia’s National Transformation Program (NTP) of Vision 2030, the action plan to incubate economic growth drivers from non-oil sectors. The global attention stems from two key differentiators anchoring Crown Prince and Prime Minister, His Royal Highness Prince Mohammed bin Salman Vision 2030- inclusivity and diverse ...

  Bloomberg Foxconn Technology Group has begun offering 10,000 yuan ($1,400) to any workers who choose to leave, an unusual decision intended to appease disgruntled new hires who played a central role in violent protests that rocked the world’s largest iPhone factory. Apple Inc.’s main global production partner said in an online notice the sum, to be paid out in ...

Bloomberg Singapore’s Treasury bills saw strong demand at Thursday’s auction, with bids more than twice what was offered amid fierce bidding from retail investors and money-market funds. The city state sold S$4.8 billion ($3.5 billion) of six-month T-bills after drawing cumulative bids worth S$11.9 billion. The securities were sold at an average yield of 3.9% on Thursday, edging down from ...

Bloomberg Truck drivers are on strike in South Korea for the second time in less than a year, targeting major ports in a bid to disrupt key exports from autos to petrochemicals. The strike began Thursday morning, with demonstrations at 16 sites across the country. The union, which represents 25,000 workers, didn’t disclose details of the work actions in a ...

  Bloomberg Paytm, India’s leading digital payments brand, posted a wider second-quarter loss after it spent more to grow its business. The net loss in the July-September period swelled to 5.71 billion rupees ($69.7 million) from 4.73 billion rupees a year earlier, the company said on Monday. Revenue rose 76% to 19.14 billion rupees, while total costs increased 60% to ...

  Bloomberg Five new fine-dining restaurants in Thailand have won the prestigious Michelin star ratings, adding to the Southeast Asian nation’s gastronomic appeal that may help cement a post-pandemic tourism recovery. Potong, which serves Thai-Chinese cuisine from a shop house that was once a pharmacy in Bangkok’s China town, and contemporary Thai restaurant Baan Tepa were among the five winners ...

Abu Dhabi / WAM The Department of Health – Abu Dhabi (DoH), the regulator of the healthcare sector in the emirate, and US-based Eversight, one of the leading non-profit eye banks in the world, partnered to establish the UAE’s first Eye and Tissue Bank. The agreement will witness the creation, development and operation of a comprehensive and seamless eye transplantation ...

Abu Dhabi / WAM Hyperscale cloud computing is expected to provide SMEs and start-ups in the UAE with $17.1 billion (AED62.6 billion) worth of economic benefits from 2022 and 2030 — the equivalent of four percent of the country’s 2021 gross domestic product (GDP) — says a new report commissioned by Amazon Web Services (AWS) in partnership with Dubai Chamber ...

  Dubai / WAM During a high-level meeting at COP27 in Sharm El-Sheikh, a collaboration agreement was signed between Mariam bint Mohammed Almheiri, UAE Minister of Climate Change and Environment, Dr Shaikha Salem Al Dhaheri, Secretary-General of the Environment Agency Abu Dhabi (EAD), and Laila Mostafa Abdullatif, Director-General of Emirates Nature-WWF (ENWWF). The collaboration showcases the UAE’s commitment to scaling ...

Dubai / WAM Etihad Credit Insurance (ECI) and African Trade Insurance Agency (ATI) signed a reciprocal reinsurance agreement to strengthen trade ties and boost exports between the two markets by providing trade credit insurance and trade finance solutions to businesses. The deal follows the memorandum of understanding (MoU) each entity signed in March last year to enhance the global competitiveness ...