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Employees working at the distribution center of US online retail giant Amazon in Dortmund, Germany, in this Nov. 8, 2018 file photo. — AFP
Amazon hit by Black Friday walkouts and protests in Europe
PARIS — Climate activists staged protests across Europe on Friday to denounce the environmental toll of mass consumption, while shoppers hit the streets and the internet as retailers of all stripes touted pre-holiday bargains.The American "Black Friday" tradition of a post-Thanksgiving day of deals has taken hold in Europe as a long weekend of sales, alarming critics who say it encourages unbridled and wasteful spending.This year, activists have targeted the climate costs of frenzied shopping, in particular from delivering the millions of items ordered from Amazon and other online retailers.French NGOs had pledged a "Black Day for Amazon," with protesters blocking a distribution center outside Paris on Thursday, and others near Lyon and Lille on Friday.The Extinction...
November 29, 2019

Amazon hit by Black Friday walkouts and protests in Europe

Azizi Developments pre orders 10 Tesla Cybertrucks.
Azizi Developments pre-orders 10 Tesla Cybertrucks
DUBAI — Azizi Developments, one of the leading developers in the UAE, has placed an order for 10 of Tesla's new Cybertrucks. The developer plans to use these to enhance its customers' pre-sales experience by taking them on site visits in the innovate vehicles to its developments across Dubai's prime locations.In line with its commitment to sustainability and environmental preservation, and in an effort to rely on clean and renewable energy, Azizi plans to exclusively use electric vehicles (EVs) for its customer site visits.Being a digitally adept and tech-savvy enterprise, Azizi Developments puts technological innovations at the forefront of its growth.Farhad Azizi, CEO of Azizi Developments, commented: "We are excited about this pre-order, with it underlining our...
November 29, 2019

Azizi Developments pre-orders 10 Tesla Cybertrucks

A speaker at the HR Tech Saudi Summit 2019 in Riyadh. — Courtesy photo
HR Tech Saudi Summit 2019 highlights disruptive new HR technologies
RIYADH — Leading government and private sector organizations, global technology leaders and cutting edge global HR solution providers gathered here for the 3rd Annual HR Tech Saudi Summit, supported by Ministry of Civil Service — KSA and Human Resource Development Fund (HRDF) to explore the latest trends and emerging technologies transforming the future of work in the Kingdom.Global speaker and renowned futurist and thought leader, Bill Jensen delivered the keynote speech on the Future of the Enterprises: Embracing the future of work in the digital world. HR leaders also further discussed how HR processes and technology could be blended in order to make the Kingdom’s workforce future ready and further pave the way to achieve the Kingdom’s Vision 2030.According to the National...
November 29, 2019

HR Tech Saudi Summit 2019 highlights disruptive new HR technologies

Prince Khaled Bin Alwaleed Bin Talal, founder and chief executive officer of KBW Ventures, being interviewed the 2019 Sharjah Entrepreneurship Festival (SEF).
Prince Khaled takes part in Sharjah Entrepreneurship Festival
SHARJAH — Prince Khaled Bin Alwaleed Bin Talal, founder and chief executive officer of KBW Ventures, recently spoke in one of the Middle East’s most prominent events for startups, the 2019 Sharjah Entrepreneurship Festival (SEF).Staged at the Expo Center Sharjah, the annual event involves two full days of talks, workshops, pitches and exhibits, and welcomes guests from across the region and further afield.Prince Khaled was interviewed live on stage by Aby Sam Thomas, editor-in-chief of Entrepreneur Middle East magazine. The wide-ranging conversation touched on a number of topics, including Prince Khaled’s investments in a number of tech and deep tech companies, and his special focus on plant-based business models.Prince Khaled also shared his views on the region’s entrepreneurial...
November 28, 2019

Prince Khaled takes part in Sharjah Entrepreneurship Festival

Japan's Panasonic has been gradually selling off some of its loss-making units. — AFP
End of an era as Japan's Panasonic exits chip business
TOKYO — Japanese electronics giant Panasonic said on Thursday it was exiting the semiconductor business, selling its loss-making subsidiary to a Taiwanese firm as it struggles with intense competition from China and South Korea.It marks the end for a once iconic Japanese business, with Panasonic seen as a global chip-making powerhouse in the 1980s and 1990s.The Japanese conglomerate said it was offloading its subsidiary Panasonic Semiconductors Solutions to Taiwan's Nuvoton, with the sale scheduled to take place in June. A spokeswoman for the firm said Panasonic would receive $250 million.The firm said it was the "best way" in the face of "extremely intense competition with rival firms' business expansion and massive investment".The unit logged an operating...
November 28, 2019

End of an era as Japan's Panasonic exits chip business

Christine Lagarde, president of the European Central Bank (ECB), prepares to give her signature to be printed on Euro banknotes in Frankfurt am Main, western Germany, on Wednesday. — AFP
ECB lending pace picks up in October
FRANKFURT AM MAIN — Growth in lending to eurozone businesses and households accelerated in October, ECB data showed on Thursday, in welcome news for the central bank after it unleashed fresh stimulus to boost the economy.Credit to non-financial firms grew 3.8 percent year-on-year compared to 3.6 percent in September, the European Central Bank said in figures adjusted for some purely financial transactions.Lending to households increased at a steady clip of 3.5 percent, 0.1 percentage point more than in September.Overall, private sector credit growth ticked up from 3.6 to 3.7 percent.The monthly data is closely watched to gauge the effectiveness of the ECB's efforts to encourage lending and investment in the single currency bloc in a bid to drive up economic growth and stubbornly low...
November 28, 2019

ECB lending pace picks up in October

Air India owes more than $8.6 billion and has struggled to pay salaries and buy fuel, with losses mounting following earlier privatization attempts. — AFP
Air India focused on day-to-day survival as shutdown fears bite
MUMBAI — India's debt-crippled national airline is focused solely on daily survival and keeping its flights in the air, a spokesman said on Thursday, after the government warned it would have to shut down unless a buyer was found.Air India owes more than $8.6 billion and has struggled to pay salaries and buy fuel, with losses mounting following earlier privatization attempts.The company is unable to pay its debts and its outlook is "gloomy", spokesman Dhananjay Kumar said."We are concentrating on day-to-day operations and not focusing on the future," he said."Whatever resources we have, we are trying to use them in an optimum manner and trying to run our flights."Aviation minister Hardeep Singh Puri said Wednesday that the airline would "have to...
November 28, 2019

Air India focused on day-to-day survival as shutdown fears bite

The company is South Korea's second-largest electronics firm after Samsung, producing a range of products, from mobile phones to televisions and home appliances including air conditioners, washers and refrigerators. — AFP
LG replaces CEO, top executives after losses
SEOUL — South Korean appliance giant LG Electronics replaced its CEO and a raft of other top leaders on Thursday after net profits slumped more than 30 percent in the third quarter and its smartphone division struggles.The company is South Korea's second-largest electronics firm after Samsung, producing a range of products, from mobile phones to televisions and home appliances including air conditioners, washers and refrigerators.CEO Jo Seong-jin, dubbed a "washing machine genius", was appointed in December 2016, and is respected in South Korea for his unlikely journey to the top without a college degree in the education-driven country.But he has struggled to turn around the failing smartphone division, which last month announced its 18th consecutive quarter of losses.As a...
November 28, 2019

LG replaces CEO, top executives after losses

TikTok has partnered with Riyadh Season to promote the growing tourism sector in the Kingdom’s capital.
TikTok partners with Riyadh Season
RIYADH — TikTok, the global leading destination for short-form mobile video, has partnered with Riyadh Season to promote the growing tourism sector in the Kingdom’s capital. Riyadh Season which is a three-month mega event, is hosting continuous entertainment of more than 100 events in 12 different zones, under the theme “Imagine”.The partnership between TikTok and Riyadh Season resulted in a launch of a global challenge that started on Nov. 25, 2019 and ending in Dec. 1, 2019. The main aim is to showcase the diversity and richness of the activities happening throughout the season while highlighting how Riyadh is becoming a tourism destination in the MENA region and even globally.Commenting on this collaboration, Mohamed Harb, TikTok’s operation manager MENA, said: “We are very...
November 28, 2019

TikTok partners with Riyadh Season

ICD and AAB sign the Line of Financial agreement in Jeddah
ICD, AAB sign $10m deal to support SMEs in Uzbekistan
JEDDAH — The Islamic Corporation for the Development of the Private Sector (ICD), the private sector arm of the Islamic Development Bank Group (IsDBG), signed with Asia Alliance Bank (AAB) a $10 million Line of Financing Agreement to support small and medium enterprises (SMEs) in Uzbekistan and an Advisory Agreement on launching an Islamic Window on behalf of the Bank.Umidjon Khakimov, First Deputy Chairman of the Board of AAB and Ayman A. Sejiny, CEO of ICD, signed the Line of Financing Agreement for a $10 million facility and the Advisory Agreement on launching an Islamic Window for the Bank on Wednesday at ICD’s Headquarters in Jeddah.The $10 million Shariah-compliant Line of Financing facility based on Wakala structure will be utilized by AAB to provide financial support to the...
November 27, 2019

ICD, AAB sign $10m deal to support SMEs in Uzbekistan

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