Saudi Arabia to hire HSBC banker as privatization unit head

Riyadh: Saudi Arabia hired HSBC Holdings Plc banker Rayyan Nagadi to set up a privatisation unit at the ministry of finance as the kingdom forges ahead with plans to sell state assets, people familiar with the matter said. Nagadi, previously head of project and export finance at HSBC Saudi Arabia, will advise the ministry on […]

Hyperloop in Abu Dhabi to cost up to Dh1.4 billion, to be ready by 2020

Dubai: Setting up the world’s first commercial hyperloop, a super high-speed transport system, in the UAE is going to cost approximately Dh1.4 billion to Dh22 billion, according to a top executive. The chairman of Hyperloop Transportation Technologies (Hyperloop TT), Bibop Gresta, revealed to state news agency WAM that the hyperloop capsule that will be set up […]

Indra Nooyi being considered to lead World Bank: report

New York: India-born Indra Nooyi, the former CEO of global beverage giant PepsiCo, is being considered by the White House for the new World Bank president, according to a leading American daily. Nooyi, 63, stepped down as PepsiCo’s chief last August after leading the company for 12 years. She “has been courted as an administration […]