BUSINESS

Employers that fail to reach the target by the deadline will have to pay a fine of Dh72,000 to the government for each Emirati worker they fail to hire.

The European Union, G7, and Australia have agreed to impose a $60 per barrel Russian gas price cap starting February 2023.

A rally across equities at the start of the month has been hobbled this week by growing concerns that the Federal Reserve's drive to rein inflation back from 40-year highs will spark a downturn and skittle company profits.

India is one of the world's biggest grape producers and Nashik is one of its key regions, but back then the vines were all table grapes for eating and raisins, rather than wine grapes.

A growing number of companies are making bulk purchases of sustainable aviation fuel (SAF) to reduce their carbon footprints, encouraging mass production of the cleaner energy that airlines need to meet their emissions targets.

Wheat exports from Russia, the world's largest supplier, will be close to record highs in December, if disruptions caused by storms in its main sea route the Black Sea are limited, analysts and an association of exporters said.

Volkswagen's Bentley expects a slight drop in production in 2023 as shutdowns in China have slowed orders, the British luxury carmaker's chief executive said on Wednesday.

With US tech stocks sliding as interest rates and recession fears rise, Musk's fortune briefly fell below that of the Arnault family.

The award ceremony aims to boost knowledge-based economic growth and sustainable development in the region.

Foreign net monthly inflows into Asian equities hit a two-year high in November on hopes that the U.S. Federal Reserve could cut the pace of its interest rate hikes.

Donald Trump's real estate company was convicted on Tuesday of carrying out a 15-year-long criminal scheme to defraud tax authorities, adding to the legal woes facing the former U.S.

The United Auto Workers (UAW) union called on automakers to shift their entire supply chain out of China's Xinjiang region after a new report on Tuesday suggests that nearly every major automaker has significant exposure to products made with forced labor.

Saudi Arabia is trying to revive its space program by tapping into new opportunities in space.

The deal comes after the Abu Dhabi National Oil Company (ADNOC) conducted preliminary operations in the concession area.

Rabat is using the leverage especially in the decades-old fight over the disputed desert territory of Western Sahara, a former Spanish colony also claimed by Algeria-backed rebels, analysts say.

Starting Jan. 1, 2023, companies that fail to achieve the target will be fined with a Dh 72,000 penalty for every UAE national they fail to hire.

Billionaire money manager Bill Ackman went public last month with his wager that the days of the Hong Kong dollar's 39-year-old peg to the U.S. dollar are numbered.

The moves helped offset a forecast-busting US jobs report that dented hopes that the Federal Reserve will take a softer approach to hiking interest rates in its battle against inflation.

In comparison, Nissan Motor Co's electric Leaf standard model has a cruising range of 322 kilometres and costs about 3.7 million yen.

Total will cut its North Sea investment by ?100 million ($123 million) in 2023, impacting work on new wells, after finance minister Jeremy Hunt ramped up a windfall tax on oil and gas giants, whose profits have surged on fallout from the Ukraine war.

Gulf issuers have raised about $16 billion through such listings this year, accounting for about half of total IPO proceeds from Europe, the Middle East and Africa, Refinitiv data shows.

HSBC is cutting as many as 15% of its 2,000 senior operations managers worldwide, as it attempts to streamline its management ranks and reduce costs, two sources with knowledge of the matter said.

U.S. liquefied natural gas exports were flat last month, Refinitiv shipping data showed on Thursday, as production remained limited and the arrival of winter weather in the Northern Hemisphere led utilities to build inventories for domestic use.

U.S. oil refiners that once were regular buyers of Venezuelan crude are jockeying to win access to coming cargoes chartered by Chevron Corp under a newly issued U.S.

This is the fourth time the launch of UAE's Moon Mission has been delayed.

A key U.S. lawmaker is proposing an extension of a certification deadline for two new versions of Boeing's 737 MAX and requiring retrofitting existing planes, according to a document reviewed by Reuters.

Abu Dhabi National Oil company (ADNOC) has engaged Goldman Sachs to work on consolidation of its gas operations for a planned stock market flotation next year, two sources close to the transaction told Reuters.

Qatar's Energy Minister Saad Sherida al-Kaabi, who is also QatarEnergy's chief executive, said so many European and Asian countries now want natural gas that he did not have enough negotiators to cope.

"The airport project is in line with Saudi Arabia's vision to transform Riyadh to be among the top ten city economies in the world and to support the growth of Riyadh's population to 15-20 million people by 2030," SPA said.