Emirates makes management changes to “navigate” pandemic challenges

Emirates airline on Sunday announced key management changes in its Dubai hub and across markets in the Far East, West Asia and Africa. As part of the changes, five Emirati commercial managers will be placed in key positions across the airlines’ network to support its commercial strategies as it responds to “shifting market dynamics and navig...

Tesla is about to become the top S&P 500 stock

When Tesla officially joins the S&P 500 on Monday, Elon Musk's electric car company will instantly become the top performing stock in the index for 2020. Shares of Tesla (TSLA) are up nearly 700% so far this year, more than double 2020's current top performer on the index. The stock has surged almost 65% since the mid-November announcement o...

Robinhood Is Accused of ‘Gamification’ by Massachusetts

Robinhood Markets drew millions of users to investing with a colorful app that makes trading seem empowering instead of intimidating. Robinhood exposed Massachusetts investors to “unnecessary trading risks” by “falling far short of the fiduciary standard” that requires broker-dealers to act in their clients’ best interests, according t...

Coronavirus: Coca-Cola restructuring cuts 2,200 jobs worldwide

Coca-Cola is to cut about 2,200 jobs in its global workforce as part of a restructuring plan. The soft drinks giant's restructure has been accelerated by the coronavirus pandemic which has seen the widespread closure of venues where Coke is sold. The bulk of the layoffs will be in the US, where it will shed 1,200 jobs. At the end of 2019, Coca-C...

Abu Dhabi signs off on another mega merger in energy services sector

Abu Dhabi shareholders have signed off on another mega merger - this one involves the National Petroleum Construction Company and National Marine Dredging Company. The latter's shareholders have now voted in favour of the move. Now, the General Holding Corporation PJSC (...

Citigroup Execs Tried to ‘Lessen the Pain’ of $900 Million Error

Two days after one of his employees mistakenly approved a $900 million payment to a group of Revlon Inc. lenders, Citigroup Inc. executive Vincent Farrell was looking to report some good news about the bank’s recovery effort. “Quick up...

French green bank expands into Saudi Arabia

French corporate and investment banking company Natixis has expanded its operations into Saudi Arabia in order to mediate between international investors and regional borrowers who want to focus on more sustainable and environmentally friendly ways of doing business....

Israel’s Bank Hapoalim sees huge opportunities for UAE - Israel banking cooperation

The normalization of relations between the UAE and Israel has opened huge opportunities for businesses and financial institutions from both countries to cooperate, Dov Kotler, CEO of Bank Hapoalim told Gulf News in a recent interview in Dubai. Founded almost 100 years ago, Bank Hapoalim is a household brand for consumer and corporate lending and...

Apple to Suspend New Orders to Wistron After India Workers Riot

Apple Inc. said it’s placing a supplier in India on probation after lapses in labor practices led to riot...

AstraZeneca to buy Alexion for $39 billion

Britain’s AstraZeneca has agreed to buy US drug maker Alexion Pharmaceuticals for $39 billion in cash and shares to bolster its positions in immunology and rare diseases. AstraZeneca, one of the frontrunners in the drug industry’s search for a COVID-19 vaccine, said on Saturday that Alexion shareholders would receive $60 in cash and about $1...

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