Vegan sneakers set to be next plant-based craze in 2020

Eco-friendly meatless food products shook up the fast food industry in 2019. Experts say next year's game-changing trend in sustainable consumer goods may be plant-based or "vegan" athletic shoes. Last week, Reebok, owned by Adidas (ADDDF) since 2005, unveiled the design for its first plant-based running shoe, the Float ride GROW, which is expec...

Porsche's first electric car is pricey but insanely fun

Just in case you were worried electric cars were going to be boring, Porsche made the Taycan. It isn't perfect and, yes, it is expensive, but it is absolutely not boring. Sure, Tesla offers the aptly named Ludicrous Mode that can launch a Model S from a dead stop to 60 miles an hour in something gut-twistingly close to two seconds. That is also ...

Mercedes Delays Electric Debut After Jaguar and Audi SUVs Flop

Mercedes-Benz is putting off the U.S. debut of its first electric vehicle by a year in the latest sign of just how difficult a time automakers are having replicating Tesla Inc.’s success. Daimler AG’s luxury brand will start sales of the EQC crossover in 2021 rather than early next year. The German carmaker said in an emailed statement that ...

Axiory Global opens Middle East base in Dubai

Forex brokerage firm Axiory Global has opened a base in Dubai to cover the Middle East market. The online brokerage service will operate out of premises in Business Bay where they will employ ten members of staff, in what is the company's first move into the region. CEO of Axiory Global Ltd, Roberto d’Ambrosio, said: “...

Qantas picks Airbus over Boeing for longest flights

Qantas has picked Airbus jets to fly its ultra-long haul routes, dealing a blow to rival plane maker Boeing. The airline selected the A350-1000 for its planned non-stop Sydney to London service, which would be the world's longest commercial flight. Qantas also delayed a final decision on whether to begin those, and other long haul services, unti...

Ericsson pays over $1bn to settle US corruption probe

A unit of Ericsson AB pleaded guilty to foreign bribery and the parent company agreed to pay more than $1 billion to resolve a long-running US corruption investigation involving payoffs in Asia and the Middle East. The Stockholm-based company admitted to a years-long campaign of corruption aimed at solidifying its grip on the telecommunications ...

UAE at the forefront of blockchain adoption

The UAE is one of the leading destinations for innovators and entrepreneurs in the blockchain space. The nation nurtures a robust blockchain tech innovation ecosystem by welcoming the newest and most forward-thinking blockchain startups from around the world. The Dubai...

Saudi Aramco raises $25.6bn in world's biggest share sale

State-owned oil giant Saudi Aramco has raised a record $25.6bn (£19.4bn) in its initial public offering in Riyadh. The share sale was the biggest to date, surpassing that of China's Alibaba which raised $25bn in 2014 in New York. Aramco relied on domestic and regional investors to sell a 1.5% stake after lukewarm interest from abroad. The IPO w...

UAE's Rotana launches first hotel in Tanzania

UAE-based hotel operator Rotana has announced the soft opening of Johari Rotana in Tanzania’s commercial city of Dar es Salaam, further cementing its presence in Africa’s fast-growing hospitality sector. The new five-star property marks the company’s entrance to ...

Majid Al Futtaim to invest $1.5bn in Saudi, Egypt expansion plans

Dubai-based Majid Al Futtaim (MAF) CEO Alain Bejjani has revealed ambitious expansion plans, which include a $996.26 million investment in Egypt and a further $533.6m in Saudi Arabia. Bejjani told Reuters that the company’s investment, which will be spread over the next two to three years, is set to include $866m on a single mall in Cairo. Fur...

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