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5781 - 5790 from 16549 . In "BUSINESS"
 The signing of agreements.
BIAC signs 4 accords to support entrepreneurship and innovation programs
DUBAI – Business Incubators and Accelerators Company (BIAC), a subsidiary of the Saudi Technology Development and Investment Company (TAQNIA), owned by the Public Investment Fund (PIF), has strengthened its strategic partnerships by signing four agreements for providing support to technology startups in the fields of finance, telecommunication, health insurance, and travel and tourism programs.BIAC signed the four agreements with Social Development Bank (SDB), Saudi Telecom Company (STC), Al-mosafer, and Bupa Arabia for Cooperative Insurance Company, during its participation at the GITEX Technology Week in Dubai.BIAC has a diverse portfolio of programs, projects, and initiatives in the field of development of entrepreneurship, innovation and investment, such as Dulani Business Center,...
October 12, 2019

BIAC signs 4 accords to support entrepreneurship and innovation programs

The revenues of software giant TCS are seen as an indicator of the health of India's IT export sector. — AFP
India's TCS misses quarterly profit estimates as demand slows
MUMBAI — India's largest software exporter Tata Consultancy Services (TCS) on Thursday reported weak quarterly earnings, missing profit estimates as demand for its key banking and financial sector services shrank.The Mumbai-headquartered firm posted a 1.8 percent rise in consolidated net profit to 80.41 billion rupees ($1.13 billion) for the quarter ended September, up from 79.01 billion a year earlier, the company said.The downbeat figures come as India's economy endures a prolonged slowdown — with the software giant's revenues seen as an indicator of the health of the country's IT export sector."We ended the quarter with steady growth despite increased volatility in the financial services and retail verticals," TCS chief executive Rajesh Gopinathan said in a...
October 11, 2019

India's TCS misses quarterly profit estimates as demand slows

Renault CEO Thierry Bollore attends the 89th Geneva International Motor Show in Geneva, Switzerland March 5, 2019. — Reuters
Renault ousts CEO Bollore, hoping to close out Ghosn era
PARIS — French automaker Renault sacked its chief executive Thierry Bollore on Friday, the latest turbulence to rock the company since the arrest of his previous boss Carlos Ghosn on financial misconduct charges just under a year ago.In a terse statement, Renault gave no reason for Bollore's ouster, nine months after he was named to follow Ghosn, who had been preparing to hand him the reins of the company.But the move comes just days after its Japanese alliance partner Nissan named a new CEO after the resignation of his predecessor, who stepped down last month.In an exceptional board meeting Friday, "the board of directors decided to end the mandate of Mr Thierry Bollore as chief executive officer of Renault... with immediate effect," the company said.Both Renault and...
October 11, 2019

Renault ousts CEO Bollore, hoping to close out Ghosn era

In this file photo taken on Oct. 11, 2018, British industrial design engineer and founder of the Dyson company, James Dyson, poses with products during a photo session at a hotel in Paris. British electric appliance pioneer James Dyson, famed for his vacuum cleaners, announced Thursday that he has abandoned his bid to mass produce electric cars because it was not
End of the road: Dyson quits race to make electric cars
SINGAPORE — British inventor James Dyson has dropped out of the race to produce electric cars in the face of stiff competition and after criticism of the Brexit-backing billionaire's decision to build the vehicle in Singapore.Dyson, famed for his bagless vacuum cleaners, announced two years ago that he was developing an electric car as part of a £2.5 billion ($3.1 billion) investment drive in future technology, with the first vehicles expected in 2021.The ambitious project catapulted the 72-year-old entrepreneur into competition against more established players such as US firm Tesla, founded by business magnate Elon Musk, and carmakers from the US to China.Adding to his difficulties, the plan ran into controversy when the company revealed that its first car plant would be in...
October 11, 2019

End of the road: Dyson quits race to make electric cars

FILE PHOTO: A screen displays the company logo for Uber Technologies Inc. on the day of it's IPO at the New York Stock Exchange (NYSE) in New York, U.S., May 10, 2019. REUTERS/Brendan McDermid/File Photo
Uber launches boat service in Nigeria's megacity Lagos
LAGOS — Global ride-hailing firm Uber Technologies Inc on Friday launched a pilot test of a boat service in Nigeria's commercial capital Lagos to attract commuters seeking to avoid the megacity's notoriously congested roads.The United Nations predicts that Nigeria's population will more than double to 400 million by 2050, which would make it the third most populous country in the world after China and India.The combination of population growth and congestion has made Nigeria, and more broadly West Africa, attractive to foreign transport companies.Uber's chief business officer told Reuters in June the company planned to launch the service to carry travelers in the Lagos megacity of around 20 million people that is built on a lagoon.The waterway service, UberBOAT, is...
October 11, 2019

Uber launches boat service in Nigeria's megacity Lagos

A worker scoops some of the thousands of dead fish that washed ashore on Freedom Island, a protected area for migratory birds, along Manila Bay on Friday.  An agriculture department official said the government suspects the fish kill was caused by water pollution on Manila Bay, one of the most polluted waterways in the country.  — AFP
World Bank trims 2019-2021 growth outlook for Philippines
MANILA — The World Bank on Thursday cut its forecasts for economic growth in the Philippines for 2019 and the next two years, citing external problems, including the US-China trade war, and a slowdown in public investments.The global lender projected the Philippine economy would grow 5.8% this year and 6.1% next year, slower than the forecasts of 6.4% and 6.5% announced in April, which were also a reduction. The bank also lowered its 2021 growth forecast to 6.2% from 6.5% previously."Given the global environment, resuming the fast pace of expansion in infrastructure and human capital spending will be key for the Philippines to regain higher growth momentum while continuing to lay the foundation for greater inclusion," said Mara Warwick, the World Bank country director for...
October 11, 2019

World Bank trims 2019-2021 growth outlook for Philippines

In this file photo taken on Sept. 16, 2019, David Garcia (C) (holding a United Auto Workers (UAW) flag) who is employed at the General Motors Co. Flint Assembly plant in Flint, Michigan, pickets outside of the plant during a strike. As the General Motors strike grinds on, more auto suppliers and contractors are sending workers home, adding to the economic drag on Michigan and other US midwestern car manufacturing hubs. — AFP
Auto suppliers hit as GM strike in US grinds on
NEW YORK — As the General Motors strike grinds on, more auto suppliers and contractors are sending workers home, adding to the economic drag on Michigan and other US midwestern car manufacturing hubs.The idling affects companies that supply parts, computer systems and raw materials to GM at the 31 striking plants in the United States, as well as trucking and logistics companies that move items in and out of factories.The furloughs have come gradually since the strike began on Sept. 16 for members of the United Auto Workers Local 659 in Flint, Michigan, said local president Steve Gruener.In addition to the 1,800 GM employees on strike, another 1,200 workers from supply and trucking firms have been laid off, he told AFP in a phone interview."The hit to the economy is already...
October 10, 2019

Auto suppliers hit as GM strike in US grinds on

Shadow of a 3D-printed Facebook Libra cryptocurrency logo is seen near cryptocurrency representation in this illustration taken, Sept. 13, 2019. — Reuters
Ahead of Libra, XRP cryptocurrency gains toehold in commerce
LONDON — Facebook's Libra may be grabbing all the headlines at the moment, yet a major cryptocurrency already exists that's gained a toehold in mainstream commerce.XRP, the third-biggest cryptocurrency by market value, seeks to succeed where bitcoin and other digital currencies have largely failed: in powering fast and low-cost transactions.In a rare example of a cryptocurrency finding a practical use beyond speculative trading, it has gained a certain amount of traction, with some large financial firms using XRP for international payments.Yet the price of XRP, often referred to as Ripple, has dropped by a quarter so far this year, even as bitcoin has more than doubled and other smaller coins such as ethereum have made slim gains.XRP's price performance goes against...
October 10, 2019

Ahead of Libra, XRP cryptocurrency gains toehold in commerce

Alrajhi Bank tops YouGov NextGen Word of Mouth rankings in KSA
RIYADH — Alrajhi bank tops the 2019 YouGov NextGen rankings in Saudi Arabia. The country’s largest Islamic bank has climbed up three spots since last year to become the most positively talked about brand amongst young adults in Saudi Arabia.On the other hand, both Saudia and iPhone have dropped down one place from last year to become second and third in the list of top 10 brands of 2019.Almarai has witnessed the greatest movement in the top 10 rankings and has jumped up five places from tenth in 2018 to fifth in the 2019 rankings.Al Baik has fallen down one place to seventh this year. Western Union has made a re-entry at sixth, after moving out of the list last year while mada has been consistently improving its score and has made a fresh entry into the 2019 top 10 rankings in...
October 10, 2019

Alrajhi Bank tops YouGov NextGen Word of Mouth rankings in KSA

Representatives from STC and Honeywell are seen after the signing ceremony, which took place at GITEX Technology Week 2019 in Dubai, United Arab Emirates.
STC, Honeywell collaborate to enable digital transformation for Kingdom’s mobile workforce
DUBAI — Saudi Telecom Company (STC) inked a strategic collaboration agreement Thursday with global technology leader Honeywell, as part of the company’s ongoing efforts to build a digital economy and provide modern specialized business services, a key enabler for the achievement of Saudi Vision 2030.The agreement was signed at GITEX Technology Week 2019 in Dubai, United Arab Emirates, by Eng. Riyad Muawwad, chairman of the board of directors of STC Solutions and senior vice president of STC Enterprise, and John Waldron, president and CEO of Honeywell Safety and Productivity Solutions (SPS).Under the terms of the agreement, STC will work with Honeywell to deploy advanced productivity solutions to help digitalize day-to-day operations for small and medium-sized enterprises (SMEs) that...
October 10, 2019

STC, Honeywell collaborate to enable digital transformation for Kingdom’s mobile workforce

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