Browsing: Business

Shopify has announced plans to reduce its workforce by 20%, impacting over 2,000 employees, and has agreed to sell its logistics business to Flexport in exchange for approximately 13% equity. This news comes about 10 months after the company laid

Carl Icahn, the activist investor known for instigating corporate confrontations, has recently become a target himself. Hindenburg Research, a notorious short-selling research firm, disclosed a short call against Icahn’s investment outfit, stirring up considerable criticism for the veteran investor. The

Apple Inc., the Cupertino-based tech behemoth, has garnered unprecedented attention with the recent launch of its Apple Card Savings Account. The introduction of this financial innovation has seen an impressive inflow of nearly $1 billion in deposits within the initial

In a recent address to the diplomatic corps and students in the Dominican Republic, External Affairs Minister S Jaishankar underscored the burgeoning relationship between India and Latin America. He stated that the once-distant region is now firmly on India’s radar,

In a significant financial development, the Nikkei, Japan’s premier stock index, surged to an eight-month high, driven by the Bank of Japan’s (BOJ) decision to sustain its ultra-easy monetary policy. The central bank’s move, along with a series of robust

ADNOC Logistics & Services (ADNOC L&S) is advancing its global footprint with the successful docking of its LNG carrier, Ish, at the AG&P Philippines LNG (PHLNG) Import Terminal in Batangas Bay. This marks a significant expansion of the company’s operations,

South Korea has reinstated Japan on its “white list” of trusted trading partners, a significant step towards mending their bilateral economic and diplomatic ties. Three years ago, Japan was removed from the list, which grants expedited trade processes for approved

Dubai Aerospace Enterprise (DAE) revealed today that its Board of Directors and Shareholders have approved an additional $300 million for bond repurchases through open market transactions. This move follows DAE’s previous repurchases of around US$1.13 billion of principal amount of

Abu Dhabi Ports (AD Ports) Group has launched a new weekly container shipping service from Khalifa Port in the UAE to Shuwaikh Port in Kuwait to improve connectivity and facilitate trade between the two countries. The inaugural visit of the

Gold prices remained close to one-year highs on Friday, fueled by recent US economic data that suggested the Federal Reserve may be nearing the end of its rate-hiking cycle. This drove non-yielding bullion towards a second consecutive weekly increase. Spot