Johnson & Johnson verdict sends opioid makers billion-dollar warning

Washington: The US pharmaceutical industry faces tens of billions of dollars in potential damage payments for fueling the opioid addiction crisis after Oklahoma won a $572 million (Dh2.1 billion) judgment against drugmaker Johnson & Johnson. Fellow opioid producer Purdue Pharma reported to have offered $10-12b to settle lawsuitsOne day after the healthcare giant was found […]

Watch: Saudi Arabia to have the ‘longest, highest and fastest roller coaster’ in the world

Dubai: Get ready for the world’s longest, tallest and fastest roller coaster ride. American theme park operator Six Flags announced on Monday that 12 record-breaking attractions are coming to Saudi Arabia — including the “world’s longest, tallest and fastest roller coaster ride”. In a ceremony in Riyadh on August 26, the company unveiled designs for […]

UAE Central Bank assets rises to Dh2,975.8 billion

Abu Dhabi: The UAE Central Bank has announced that gross bank assets, including bankers’ acceptances, rose by 0.6 per cent, climbing from Dh2,958.6 billion at the end of June 2019 to Dh2,975.8 billion at the end of July 2019. Gross credit increased by 0.7 per cent from Dh1,692.7 billion at the end of June 2019 […]

DP World, Chinese firm to develop region’s first free zone market in Dubai

Dubai: DP World, the Dubai-based ports operator, announced on Monday a partnership with Zhejiang China Commodity City Group Company (CCC) to develop the ‘Traders Market’ in Jebel Ali Freezone. Under the partnership, DP World will hold a majority share in the 70/30 joint venture. The project developed by the two companies will span around 800,000 […]