Nikon to cut workforce on slump in camera business

Tokyo: Nikon Corp. plans to reduce about 2,000 employees, or 10% of its total workforce, due to a slump in its core camera business, Nikkei reported. Its business was also impacted by the performance of Intel Corp., one of Nikon’s key clients of semiconductor equipment, the daily reported, without saying where it got the information. In […]

Trump to take part in virtual G20 summit: US official

Riyadh: US President Donald Trump will participate in the virtual Group of 20 summit being hosted by Saudi Arabia on Saturday, a senior US official said. Trump’s participation in the two-day meeting of the world’s wealthiest nations comes on the heels of his attendance at Friday’s Asia-Pacific Economic Cooperation (APEC) summit via video link. Neither […]

Saudi Foreign Direct Investment up in first half of 2020 as economy shows resilience

Riyadh/Dubai: Saudi Arabia’s Minister of Investment Khalid al-Falih said on Saturday foreign direct investment (FDI) increased by 12% in the first half of 2020 compared with the same period last year. The Saudi government, which is hosting this year’s G20 summit, has made attracting greater foreign investment a cornerstone of its Vision 2030 plan to […]

It’s advantage UAE free zones as Israeli businesses come exploring

Dubai: Free zones, particularly ADGM and Dubai’s DMCC, will have the edge as Israeli companies start the process of establishing a presence in the UAE. Played right, the UAE could well emerge as a leading destination for these firms wanting an international presence. “A lot of successful Israeli companies have been structured in Cyprus, Malta […]