News

  Dubai / WAM The Ministry of Economy honoured 35 UAE companies, graduates of the ScaleUp Export training programme, which was launched by the Ministry in cooperation with global shipping and logistics company UPS under The Entrepreneurial Nation initiative in June. The programme is designed to help enhance the export capacity of UAE’s startups and SMEs by enhancing the flow ...

  Dubai / Gulf Time As the region busies itself with winter visitors, iconic sporting events, UAE National Day and the upcoming festive season, Emirates is highlighting a busy travel period for both inbound and outbound travel through Dubai for the next month, and recommending passengers arrive to the airport three hours in advance of their flight, as well as ...

Bloomberg Masayoshi Son is now personally on the hook for about $4.7 billion on side deals he set up at SoftBank Group Corp. to boost his compensation, after mounting losses in the company’s tech portfolio wiped out the value of his interest in the second Vision Fund. Over the years, the Japanese billionaire’s controversial personal stakes in SoftBank’s investments drew ...

  Bloomberg Indonesia’s largest internet company GoTo Group will cut 1,300 jobs as it seeks to curtail expenses and assuage investor concerns over mounting losses. The cuts amount to about 12% of the workforce, the company said in a statement Friday. The ride-hailing, e-commerce and fintech company will begin notifying affected employees right away. GoTo joins tech giants from Apple ...

  Bloomberg India plans to allow transfer and storing personal data in some countries overseas, in a reprieve for global companies including Alphabet Inc.’s Google, Amazon.com Inc. and Meta Platforms Inc.’s Facebook. The government will “notify such countries or territories outside India to which a data fiduciary may transfer personal data,” according to the draft Digital Personal Data Protection Bill ...

  Bloomberg Hong Kong’s economy will grow next year at a slower pace than previously expected, according to economists, as the city struggles to dig itself out of what’s likely to be a deep contraction in 2022. Gross domestic product is projected to grow 2.7% in 2023 from this year, according to the median forecast in a the latest Bloomberg ...

  Bloomberg The long-awaited policy rescue for Chinese developers finally landed this month to ease a severe liquidity crunch. The hurdle of collapsing home demand may prove just as steep a challenge. Assets linked to the nation’s fragile real-estate sector have rallied over the past two weeks after regulators introduced directives that addressed everything from companies’ liquidity problems to the ...

  Abu Dhabi / WAM Mubadala Investment Company and AirCarbon Exchange (ACX) have successfully completed a transaction under which Mubadala has acquired a strategic stake in ACX, supporting ACX’s establishment of the first fully regulated carbon trading exchange and carbon clearing house in Abu Dhabi. ACX, based in Hub71, is a global environmental commodities exchange that uses distributed ledger technology ...

  DUBAI / WAM The ambitious Emirates Lunar Mission (ELM) of the Mohammed Bin Rashid Space Centre (MBRSC) is set to launch on November 28 at the earliest, at 3.46 am US Eastern Standard Time/12.46 pm UAE Time. The dates and times are subject to change depending on weather and other conditions. The announcement follows the confirmation of Rashid Rover’s ...

  Abu Dhabi / WAM Adipec 2022 has generated an estimated $8.2 billion in business for exhibiting companies, a survey conducted across the 2,200 exhibitors has revealed. Adipec took place in Abu Dhabi from October 31 to November 3, gathering some of the best minds from energy markets around the world to address critical issues facing the energy sector, including ...