BUSINESS

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.

Cryptocurrency lender BlockFi has filed for Chapter 11 bankruptcy protection, it said on Monday, the latest industry casualty after the firm was hurt by exposure to the spectacular collapse of the FTX exchange earlier this month.

Fiat parent Stellantis has concluded it can't currently make affordable electric vehicles (EVs) in Europe and is looking at lower-cost manufacturing in markets such as India, its chief executive told reporters.

International Holding Company plans to sell 20% of its technology unit in an initial public offering next year, its CEO told Reuters, adding that the UAE's IHC is aiming for a first quarter IPO of Pure Health to raise more than $1 billion.

The move is in line with the UAE's efforts to integrate locals into the private and banking sectors' workforce.

Chevron Corp could soon win U.S. approval to expand operations in Venezuela and resume trading its oil once the Venezuelan government and its opposition resume political talks, four people familiar with the matter said on Wednesday.

After years of decline, demand for the polluting fossil fuel has surged this year as Europe scrambles to replace Russian gas, and coal miners are making money hand over fist.

Citigroup Inc's investment banking team has increased by 50% over the past two years and more people are being added in the United Arab Emirates (UAE) and Saudi Arabia, joining rivals seeking to take advantage of a red-hot Gulf IPO market.

Chinese technology majors have struggled in recent months amid an economic slowdown, Covid-19 curbs that have hammered consumer sentiment, and tighter regulatory scrutiny.

The Ural and the Yakutia are part of a fleet of nuclear-powered icebreakers that are meant to ensure Moscow's dominance over the melting Arctic.

The allegations are the latest point of tension over energy deliveries between Kyiv, European capitals and Moscow, which has reduced consignments to Europe in response to Western sanctions over the conflict in Ukraine.

Until now, there were no clear regulations, and disputes on tax residency were decided by the text of income tax treaties.

U.S. company Space Perspective offered a first glimpse of the giant balloon back in April.

Dubai's main airport on Tuesday raised its passenger forecast for this year by nearly two million to 64.3 million people after a strong pick up in business.

The woman claims her late husband borrowed the money from her but failed to settle his debt before he died.