Dr. Ajith Kumar V.V
Disney executives have cut the word "Fox" from their 20th Century Fox film studio in an apparent bid to distance it from operations of the previous owner, Rupert Murdoch.US media suggests Disney does not want to be associated with the media mogul's highly partisan, right-wing Fox News network. However, Disney has not clarified its reasons. It bought the studio, with other media operations, in a $71bn deal last March.20th Century Fox is known for producing some of the biggest films of all-time, including Avatar and Titanic.
Source: https://www.bbc.com/news/business-51160219
Dr. Ajith Kumar V.V
Emirates NBD PJSC is seeking to seize or sell the undeveloped land in the Dubai International Financial Centre after becoming frustrated by the pace of assets sales under Al Jaber’s debt restructuring, according to people familiar with the matter and an enforcement letter sent by the bank. The land which is worth about $70 million was used as collateral to secure a loan for Chairman Obaid Khaleefa Al Jaber Al Marri, the people said, asking not to be identified because the matter is private. Al Rihab Real Estate Co. LLC, a unit of Al Jaber, defaulted on a mortgage related to the land, they said.
Source: https://www.bloomberg.com/news/articles/2020-01-19/dubai-bank-goes-after-debt-laden-al-jaber-s-land-in-finance-hub?srnd=premium-middle-east
Dr. Ajith Kumar V.V
Sunset Hospitality Group has revealed an 18 percent increase in revenue growth for 2019.The group finished the year with 19 outlets, which included the launch of Mood Rooftop Lounge and Sweet Chick as well as openings in the United Kingdom and Saudi Arabia. Plans for 2020 involve the opening of more than 10 new outlets in the UAE and wider GCC region including Black Tap, Stage, Azure Beach and Ammos. This year the group will also be focusing on the launch of Sushisamba and Aura Skypool at Nakheel’s The Palm Tower.
Source: https://www.arabianbusiness.com/travel-hospitality/437980-sunset-hospitality-group-reveals-17-revenue-growth-for-2019
Dr. Ajith Kumar V.V
Dubai-based Fajr Capital has announced the sale of its significant minority stake in Bank Islam Brunei Darussalam (BIBD), Brunei’s largest bank, to Brunei Investment Agency. Fajr Capital invested in BIBD in September 2010 with a commitment to transform the bank into a world-class financial services institution. Fajr Capital said it has worked alongside BIBD’s shareholders to devise and begin implementation of a new strategy which resulted in enhanced customer experience, introduction of internet banking and new digital platforms, international expansion in South East Asia and the Middle East, and improved financial performance.
Source:https://www.arabianbusiness.com/banking-finance/437768-dubais-fajr-capital-sells-stake-in-bruneis-largest-bank
Dr. Ajith Kumar V.V
Contrary to common fears around how artificial intelligence (AI) will impact jobs, employees, managers and HR leaders in the UAE are welcoming AI in the workplace with love and optimism. A study of 8,370 employees, managers and HR leaders across 10 countries found that AI has changed the relationship between people and technology at work and is reshaping the role HR teams and managers need to play in attracting, retaining and developing talent. The increasing adoption of AI at work is having a significant impact on the way employees collaborate at the workplace, and they are ready to welcome AI-colleagues with open arms.
Source:https://gulfnews.com/business/analysis/workplaces-turn-more-welcoming-for-ai-1.69093173
Dr. Ajith Kumar V.V
Emirates on Wednesday announced that it has signed a memorandum of understanding (MoU) with Trip.com Group, a one-stop travel service provider based in China. The agreement was signed in Shanghai by executives of both companies, allowing the airline to expand its reach in the Chinese market. The mutual cooperation includes joint marketing promotions and other marketing initiatives to boost Emirates' sales via Trip.com Group's online platforms.
Source:https://www.arabianbusiness.com/travel-hospitality/437733-emirates-signs-deal-to-expand-reach-in-key-chinese-tourism-market
Dr. Ajith Kumar V.V
Google, Microsoft, and Amazon have been very vocal about their efforts to reduce the world's dependence on fossil fuels. But as The Wall Street Journal and Gizmodo have reported, these same companies are currently teaming up with fossil fuel industry to help them squeeze as much oil and gas out of the ground as possible. Oil has always been hard to find and hard to extract, and so the industry has teetered precariously on the edge of profitability several times over the course of its history. Just when things look bleakest for black gold, new technology swoops in to keep the industry afloat.
Source: https://www.arabianbusiness.com/video/437019-video-google-amazon-are-now-in-the-oil-business
Dr. Ajith Kumar V.V
Online food ordering company Takeaway.com has won the battle for the UK-listed Just Eat with a £5.9bn all-share offer. The deal will create one of the world's largest meal delivery companies. Dutch giant Takeaway.com was bidding against tech investment firm Prosus. The merged company, which will be led by Takeaway chief executive Jitse Groen, will have its headquarters in Amsterdam and a listing in London. The joint group will bring together businesses that process 360 million annual orders worth €7.3bn (£6.6bn).
Source: https://www.bbc.com/news/business-51065886
Dr. Ajith Kumar V.V
General Motors is bringing back the Hummer, nearly a decade after the brand became defunct. This time, the Hummer will live a new life as an all-electric pickup truck. General Motors is also investing in a splashy ad campaign. It'll show the Hummer in a Super Bowl ad in February, a source familiar with the plan confirmed to CNN Business. The Wall Street Journal, which first reported the story on Friday, says the company has signed on basketball star LeBron James to help. The Super Bowl is a common battleground for car brands like Kia, Mercedes-Benz and GM to show off their vehicles. The new Hummer pickup truck is slated to hit the market in early 2022 and will be sold under the GMC truck and SUV brand in small quantities, the same source confirmed.
Source:https://edition.cnn.com/2020/01/11/cars/gm-electric-pickup-hummer/index.html
Dr. Ajith Kumar V.V
Saudi Arabia’s utility developer ACWA Power plans to invest about $10 billion this year as it seeks out new projects in 10 countries, Reuters reported, citing Chief Executive Officer Paddy Padmanthan. The company operates in a dozen countries and is now bidding for projects in new markets including Ethiopia, Tunisia, Cambodia, Azerbaijan and Uzbekistan, Reuters reported, citing Padmanthan at an energy event in Abu Dhabi. Saudi Arabia’s Public Investment Fund plans to boost its stake to 40% from 25%, it added.
Source:https://www.bloomberg.com/news/articles/2020-01-11/saudi-arabia-s-acwa-power-plans-10b-of-investments-reuters