Sources say companies may announce a cash-and-shares transaction that values Careem at about $3bn

NICOSIA: ExxonMobil has made the world’s third-biggest gas find in the last two years off the cost of Cyprus, the country’s government said on Thursday. Energy Minister Georgios Lakkotrypis said the discovery of an estimated 5-8 trillion cubic feet of gas offers hope for more discoveries in waters off the east Mediterranean island nation, which […]

Amazon.com Inc board of directors elected Indra K. Nooyi as director of company, and also appointed her to audit committee of board. Nooyi is the second high-profile addition to Amazon’s board this month. Amazon recently added Starbucks COO Rosalind Brewer to its board. Brewer, who has been COO of Starbucks since October 2017, was also […]

HONG KONG: Chinese start-up Luckin Coffee, which has ambitions to overtake Starbucks at home this year, has tapped three banks including Credit Suisse to work on a US IPO in 2019, said people with direct knowledge of the matter. Goldman Sachs and Morgan Stanley are also advising Luckin, one of the quickest firms to reach […]

The Emirates Maritime Arbitration Centre (EMAC) has been established in answer to a call from the maritime cluster in the region for specialised alternative dispute resolution (ADR) services closer to home. To answer the call, an Emiri Decree issued in 2016 formally established EMAC, which is run by a highly skilled secretariat and overseen by […]

The first ruling issued by a Dubai civil court regarding compensation to a family of the victims of the crash.

Hong Kong: SoftBank Vision Fund is investing $1.5 billion in Chinese car trading platform Chehaoduo Group, placing another major bet on the world’s largest automobile market. The investment values Chehaoduo, the parent of online sites Guazi and Maoduo, at more than $9 billion (Dh33 billion), a representative for the start-up said. It intends to use […]

Dubai: Smartwatches are becoming an increasingly part of life in the modern world, with the end of last year recording an “impressive” increase in global shipments. The total number of wearable devices snapped up by shoppers around the world reached a total of 18.2 million units by December 2018, registering a 56 per cent increase […]

He called on the two prime ministers to prioritise communication.

Expo 2020 pavilion of Monaco will be spread over different levels just like the mazy streets of the French Riviera principality