RIYADH- Saudi tycoon Prince Alwaleed bin Talal on Wednesday promised his entire US$32 billion (S$43 billion) fortune to charitable projects in coming years, in one of the biggest ever such pledges. The pledge is “maybe… the first such big announcement” of its kind in the region, and is modelled on a charity established by Microsoft founder Bill Gates in the United States, the Prince told reporters.
Dubai International Airport is expected to maintain its position as the world’s busiest airport in terms of international passengers at the end of 2014 and afterwards for at least a decade as its year-on-year growth is far above its closest competitors. During the first five months of the year, Dubai International maintained the top position […]
Dubai: IMD, a top-ranked global business school based in Switzerland, announced its annual world competitiveness ranking for 2014 in which the UAE retained its overall eighth position in the competitiveness ranking and topped in government efficiency. As part of its ranking of 60 economies for 2014, the IMD World Competitiveness Centre also looks at perceptions […]
The UAE increased its aid rate to 1.5 per cent of GDP, the highest in the 34-member Organisation for Economic Co-operation and Development (OECD). The Emirates’ contributions rose more than threefold as it offered financial support to Egypt’s army-backed government during political unrest. His Highness Shaikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister […]
TOYOTA’S decision to shut its Camry factory in 2017 will bring the Australian car manufacturing industry to a halt after more than 100 years, and leave up to 50,000 workers in supporting industries out of a job, in addition to the 2500 at Toyota. The world’s biggest car maker — and the number one brand […]
A visit visa can be converted into a permanent residency permit for a close family member of an expatriate worker under special conditions, a senior Passport Department official said during a phone-in service with Arab News readers on Wednesday. “Yes, this is possible,” said Col. Mohammed Al-Hussain, spokesperson of the department. “However, such a request […]
Pakistan’s first large-scale solar power project, the Quaid-e-Azam Solar Park project, was recently inaugurated by Pakistan’s Prime Minister, Nawaz Sharif, representing one of the country’s first clear steps towards renewable energy. The project is expected to start generating 100 MW of power by the end of the year, and 1,000 MW by the end of […]
The Haj pilgrim transportation sector is in a dilemma. In a bid to provide employment to Saudi youth, the Ministry of Labor has made it mandatory for transport companies to hire only Saudis as bus drivers during the Haj season. However, there is an acute shortage of Saudi applications for the vacant positions despite the […]