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1041 - 1050 from 16601 . In "BUSINESS"
Gautam Adani
India’s Adani scraps $2.5 billion share sale as value of his empire collapses
LONDON — Indian billionaire Gautam Adani on Wednesday abandoned a deal to raise $2.5 billion from investors after a week-long meltdown in the value of his logistics and energy business empire that started when an American short seller accused the conglomerate of fraud.The share sale — the largest offering by a company already listed on India’s stock market — had closed successfully just 24 hours earlier. His flagship company, Adani Enterprises, had found enough willing backers despite days of market turmoil following the publication of a scathing analysis by Hindenburg Research.But a brutal day of trading Wednesday wiped billions more off the value of his companies, including Adani Enterprises. The conglomerate has seen its value plunge by about $90 billion since the Hindenburg...
February 02, 2023

India’s Adani scraps $2.5 billion share sale as value of his empire collapses

Mozn to showcase its Artificial Intelligence innovations at LEAP 2023
Mozn, a market leader in enterprise AI technologies, today announced that it will participate as a “Bronze Sponsor” in the forthcoming LEAP 2023 Conference – set to take place from 6-9 February at the Riyadh Front Expo Centre in Saudi Arabia.Currently in its second year, LEAP 2023 is a global, award-winning technology event expected to attract 100,000+ disruptive tech professionals from around the world including entrepreneurs, investors, innovators, and stakeholders. With this year’s theme of “Into New Worlds”, the four-day conference will explore forward-thinking tactics and showcase cutting-edge technologies for a range of industries, including banking, fintech, capital markets, insurance and more.During LEAP, Mozn will showcase its myriad of AI-powered offerings including...
February 01, 2023

Mozn to showcase its Artificial Intelligence innovations at LEAP 2023

Mobily showcases its innovations and technical solutions as leading digital partner in LEAP 2023
Etihad Etisalat "Mobily" is participating as a leading digital partner in the second edition of LEAP 2023 International Technology Conference, which will take place in Riyadh from February 6 to 9 2023 under the theme “Towards New Horizons”.The conference brings together more than 100,000 technological innovators and experts from all over the world to discover pioneering ideas, build new partnerships, communicate with investors, and thought leaders, and fly towards new horizons to build a more innovative future.Through its participation in the international conference of community’s decision-makers and technology enthusiasts, Mobily seeks to discuss the most critical challenges that our world is witnessing at the present time and how to overcome them considering the...
February 01, 2023

Mobily showcases its innovations and technical solutions as leading digital partner in LEAP 2023

(L-R) Dr Solaiman Abdulaziz S. Altwaijri, CEO of Nadec; Sky Kurtz, CEO of Pure Harvest Smart Farms.
Nadec & Pure Harvest Smart Farms announce strategic partnership to deliver high-quality, locally grown fresh produce
RIYADH — The National Agricultural Development Company (Nadec) is pleased to announce today its strategic partnership with Pure Harvest Smart Farms (Pure Harvest), the MEASA region’s leading technology-enabled agribusiness, to deliver a large-scale national food security project in the Kingdom, which aims to deliver over 27 hectares of production near-term – with prospects for significant future expansions on Nadec’s lands – serving KSA consumers a wide variety of locally and sustainably grown, high-quality, fresh produce year-round.Pure Harvest will design, construct and operate high-tech, climate-controlled hybrid food production systems that allow year-round production of high-quality, safe and sustainably-grown fresh fruits & vegetables, free of pesticides, offering Saudi...
February 01, 2023

Nadec & Pure Harvest Smart Farms announce strategic partnership to deliver high-quality, locally grown fresh produce

Finance Minister Nirmala Sitharaman presented the budget in parliament on Wednesday
India budget focuses on spending boost
NEW DELHI — A sharp jump in capital spending, income tax relief to the middle class and efforts at financial discipline marked India's last full budget before the general election next year.In line with the government's ramped up focus on building roads, highways and power plants since 2014, India's overall capital expenditure saw a sharp jump of 33%, which was marginally lower than the 35.4% increase budgeted last year.But at $122bn, it marks a three-time increase over capital expenditure in 2019.Money for railway projects saw the highest ever outlay of $24bn.Finance minister Nirmala Sitharaman also announced money for the construction of 50 new airports, aerodromes and heliports to improve regional connectivity, and increased spending on affordable housing projects by 66%...
February 01, 2023

India budget focuses on spending boost

Lulu celebrates 'glorious food' with World Food Festival
RIYADH — LuLu Hypermarket's popular "World Food Festival" is back again bringing amazing deals on Ingredients, kitchen equipment and hands-on lessons on the latest food trends from some of the most famous names in the culinary world today. Started on January 25, the festival will run till February 8 and will cover all meals from fun fast food to breakfast, lunch and dinner ideas.Celeb kitchen momentsHeadlining the roster of celebrity chefs who will Interact with LuLu shoppers is Chef Isam Alghamdi, a Saudi culinary rock star with a massive fan following among women and youth whose Cinnamon Rolls draw crowds from other regions to taste it, Chef JP Anglo from the Philippines who is widely known for his delicious cuisine and restaurant and a TV star with programs such as...
February 01, 2023

Lulu celebrates 'glorious food' with World Food Festival

A person scans QR code with PayPal app.
PayPal cuts 2,000 jobs in latest tech layoffs
WASHINGTON — PayPal is shedding around 2,000 jobs, or 7% of its workers, as it becomes the latest big tech firm to cut costs.The online payments company says it was forced to make the decision as it faces "the challenging macro-economic environment."PayPal's announcement follows tens of thousands of layoffs by technology giants in the last month alone.This year, Google's parent company Alphabet, Amazon and Microsoft have announced major job cuts."We must continue to change as our world, our customers, and our competitive landscape evolve," PayPal's chief executive Dan Schulman said in a statement.Also on Tuesday, Snap - the parent company of social media platform Snapchat - warned that revenue for the three months to the end of March could fall by as much...
February 01, 2023

PayPal cuts 2,000 jobs in latest tech layoffs

Finance Minister Nirmala Sitharaman holds a red folder containing Union Budget documents outside the Ministry of Finance in New Delhi on 1 February 2022.
The inequality problem of India’s growth story
MUMBAI — Despite being its last full budget before the general elections in 2024, Narendra Modi's government is expected to shun populism in favor of fiscal discipline. But the uneven nature of India's post-pandemic recovery calls for heightened support to the most vulnerable sections of society, experts say.With a third of the world hovering on the brink of a recession after two pandemic years, India's economy remains a comparatively bright spot in 2023.GDP targets for the year have been moderated slightly, but India is expected to remain the fastest-growing major economy in the world for a second year running. Growth is likely to be in the range of 6-6.5%, which is impressive by any measure.Additionally, inflation is coming off, energy prices have cooled off, the country...
January 31, 2023

The inequality problem of India’s growth story

The IMF says the UK economy will shrink in 2023 and perform worse than other advanced economies as the cost of living continues to hit households.
UK economy only G7 nation to shrink in 2023: IMF
LONDON — The UK economy will shrink and perform worse than other advanced economies as the cost of living continues to hit households, the International Monetary Fund (IMF) has said.The IMF said the economy will contract by 0.6% in 2023, rather than grow slightly as previously predicted.However, the IMF also said that after the Autumn Statement it thinks the UK economy is now "on the right track".Chancellor Jeremy Hunt said the UK outperformed many forecasts last year.In its World Economic Outlook update, the IMF, which works to stabilize economic growth, said the UK's Gross Domestic Product (GDP) would shrink rather than grow by 0.3% this year.It predicted the UK would be the only country - across the world's advanced and emerging economies - to suffer a year of...
January 31, 2023

UK economy only G7 nation to shrink in 2023: IMF

Alshaya Group and the Saudi Authority for Industrial Cities and Technology Zones ‘MODON’ officially inaugurated Alshaya’s Central Food Production Facility (CPF).
Alshaya Group inaugurates 'Starbucks' Product factory in partnership with MODON
Alshaya Group and the Saudi Authority for Industrial Cities and Technology Zones ‘MODON’ officially inaugurated Alshaya’s Central Food Production Facility (CPF) in the presence of the Chief Executive Officer Eng. Majid Al-Arqoubi and General Manager of Alshaya Group in KSA Faisal Alshaya along with other officials.Spread over 18,000 m2 in Sudair Industrial and Business City, the new facility falls within the masterplan efforts to stimulate and attract private sector investments to achieve the goals of the national strategy for industrial growth.Speaking about the opening, Faisal Alshaya said: “We are very proud to officially open our first Central Food Production Facility in KSA at Sudair Industrial and Business City. In partnership with MODON, this facility will continue to...
January 30, 2023

Alshaya Group inaugurates 'Starbucks' Product factory in partnership with MODON

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