Dubai: The CEO of retail and dining operator Marka has resigned, according to a company statement on the Dubai Financial Market (DFM) website. Marka, which became Dubai’s first publicly traded retailer in 2014, has seen its share price drop by 90 per cent since the beginning of this year. Benoit Lamonerie, the outgoing chief executive, […]
Tokyo: Toyota Motor Corp. has sold enough cars to put one outside every Japanese home. Now it wants to put robots inside. Toyota sees a not-so-far-off future in which robots become commonplace in homes, helping with chores — and even offering companionship — in an ageing society where a quarter of the population is over […]
Washington: Just because President Donald Trump appointed the boss of the US central bank doesn’t mean he can easily get rid of him. Should Trump — as he’s recently discussed with aides, according to Bloomberg News — seek to fire Federal Reserve chairman Jerome Powell, he’s likely to set off a thorny legal battle, and […]
Dubai: The first step towards creating a drug manufacturing hub in Dubai has been taken, with a Dh125 million plant at Dubai Science Park in Al Barsha. The facility, Pharmax, will produce generic medicines for a range of chronic illnesses, including diabetes, cholesterol, psychiatric and neurological disorders, cardiovascular and gastric ailments. The first production batches […]
Istanbul Word by word, Turkey is starting to dismantle the playbook it used to halt a run on the lira. With a recession looming, the central bank toned down its pledge to keep borrowing costs elevated and changed its assessment of inflationary pressures. While its benchmark was kept steady at 24 per cent for a […]