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6191 - 6200 from 16550 . In "BUSINESS"
Retrials ordered for ex-South Korea leader Park and Samsung heir
SEOUL — South Korea's top court ordered new trials on Thursday for former President Park Geun-hye and Samsung heir Lee Jae-yong over the corruption scandal that brought her down, in a blow to the world's biggest smartphone and memory chip maker.Park is serving a 25-year jail term after being convicted last year on bribery and abuse of power charges.But Lee, whose sprawling conglomerate is vital to the health of the world's 11th-largest economy, had many of his convictions quashed on appeal in February 2018 and was released after being given a suspended sentence.Their trials highlighted shady links between big business and politics in South Korea, with Park and her close friend Choi Soon-sil accused of taking bribes from corporate bigwigs in exchange for preferential...
August 29, 2019

Retrials ordered for ex-South Korea leader Park and Samsung heir

A man works on a wooden construction in front of a tent ahead of the Oktoberfest in Munich, Germany, on Thursday. — Reuters
German unemployment stable despite recession warning
BERLIN — Germany's labor market remains robust, but is starting to feel the impact of a slowing economy, official data showed on Thursday.Federal labor agency (BA) chief Detlef Scheele said in a statement that "the weak economic phase" Germany is experiencing has also left "a slight mark" on the job market amid fears of a looming recession, but "all in all, however, it is proving to be robust".Seasonally-adjusted figures showed five percent of people out of work in August, the same level for the previous three months consecutively.However in absolute terms — widely referenced in public debate but less representative of underlying trends — unemployment increased 44,000 month-on-month to 2.32 million people out of work.Meanwhile, vacancies fell by...
August 29, 2019

German unemployment stable despite recession warning


File photo: Chinese FM Wang Yi, South Korean FM Kang Kyung-wha and Japanese FM Taro Kono pose for photo
Japan trade curbs on South Korea take effect
SEOUL — South Korea summoned Japan's ambassador to protest against a decision to remove Seoul's fast-track export status, which took effect on Wednesday amid a deepening political and economic feud.Japan dropped South Korea from a so-called white list of favored trade partners this month, which could mean more paperwork and on-site inspections for some Japanese exporters and potentially slow supplies of a range of goods.The decision prompted South Korea to drop Japan from its favored trading list and scrap an intelligence-sharing agreement.South Korean deputy national security adviser Kim Hyun-chong said it was deeply regrettable that Japan's decision to scrap fast-track export status for South Korea had taken effect.South Korea would be willing to reconsider its decision to...
August 28, 2019

Japan trade curbs on South Korea take effect

USTR affirms Trump's tariff hike on Chinese goods
WASHINGTON — The US Trade Representative's office on Wednesday reaffirmed President Donald Trump's plans to impose an additional 5% tariff on a $300 billion list of Chinese imports starting on Sept. 1 and Dec. 15.The USTR will impose a 15% tariff on some of the targeted goods from Sept. 1, with the rest, including cell phones and laptop computers, to get a 15% tariff on Dec. 15, the agency said in a Federal Register notice. The Trump administration had previously planned to impose a 10% tariff on these imports.Trump announced the tariff increase last Friday on Twitter, in response to Chinese retaliatory tariffs on $75 billion worth of US goods, including crude oil.The Federal Register notice, however, did not mention Trump's announcement of his intention to increase the duty...
August 28, 2019

USTR affirms Trump's tariff hike on Chinese goods

MCIT, Huawei host 5G Onboard Training Program
RIYADH — In collaboration with Saudi Arabia’s Ministry of Communications and Information Technology (MCIT), Huawei, a leading global provider of information and communications technology (ICT) infrastructure and smart devices, hosted a dedicated 5G onboard training program at MCIT’s headquarters. This program is part of Huawei’s ongoing 5G Roadshow in Saudi Arabia, which is touring the Kingdom to raise awareness of the next generation of 5G connectivity and seeking to develop ICT talent locally.The latest three-day training program was conducted by Huawei experts in partnership with MCIT under the umbrella of the Ministry’s ThinkTech initiative, with the attendance of Dr. Ahmed Altheneyyan, Deputy Minister for Technology and Digital Capacities Development. The training provided...
August 28, 2019

MCIT, Huawei host 5G Onboard Training Program

Saudi Arabia’s $1.6trn construction projects largest in GCC region
JEDDAH — According to leading cost and project management consultancy, Linesight, which has a GCC pipeline worth over $10 billion, activity in the construction sector throughout the GCC countries will begin to recover steadily from the beginning of 2020, after a challenging period of subdued performance.Long-term positive factors such as economic diversification, social reform, especially in Saudi Arabia, and general demographic demand, combined with renewed government ambition, will be the key drivers.Saudi Arabia currently holds the greatest potential for the construction sector within the GCC, with more than 5,000 capital projects worth well over $1.6 trillion in the pre-execution stage.That includes over 150 development projects worth $3.27 billion, for Tabuk region that were...
August 28, 2019

Saudi Arabia’s $1.6trn construction projects largest in GCC region

Hyundai Creta 2020 arrives in the Saudi market
JEDDAH — Hyundai is keen to meet the needs and wishes of its customers, and has recently launched the updated version of Hyundai Creta 2020, a model well-established as one of the most successful compact crossovers available. Popular with the young generation and small families wishing to own an economic SUV, the new-look Creta also boasts great features and unique additions.The new Hyundai Creta’s styling mirrors the brand’s European-look design language, which gives an impression of quality and durability. The interior gives the passengers a sense of spaciousness and quality at the same time. The most striking features of the new Creta are the styling cues that give it a bold, powerful and sporty look, in addition to the daytime running lights that reflect Hyundai’s technological...
August 28, 2019

Hyundai Creta 2020 arrives in the Saudi market

From left: Faisal Al Dhahri (PR and Communications Director - Department of Culture and Tourism Abu Dhabi), Khalifa Al Qubaisi (Acting Chief Commercial Officer of Abu Dhabi National Exhibitions Company (ADNEC) and the Chairperson of the International Congress and Convention Association), Dr Matar Hamed Al Neyadi (Chairman of the 24th World Energy Congress), and Eng. Fatima Alfoora Alshamsi (CEO of the 24th World Energy Congress).
4th World Energy Congress to attract largest attendance
ABU DHABI — With less than two weeks to go until the 24th World Energy Congress, the UAE Organizing Committee on Wednesday gave an update on the number of delegates, ministers and exhibitors that will be attending the global event in Abu Dhabi.Taking place on September 9-12 at Abu Dhabi National Exhibition Centre (ADNEC), the prestigious event will see the presence of more than 15,000 attendees from the UAE and abroad including 4,000 delegates and 66 ministers. The exhibition, taking place across a space of 35,000 square meters, will feature over 200 exhibitors, representing more than 150 countries altogether.This year’s World Energy Congress, which will take place for the first time in the Middle East, will see more than 300 speakers among the thousands of global attendees during the...
August 28, 2019

4th World Energy Congress to attract largest attendance

Faried Hussien
HR Tech Saudi Summit focuses on reshaping HR future in Kingdom
RIYADH — In lines with the Kingdom’s Vision 2030, QNA International is all set to host the 3rd Annual HR Tech Saudi Summit, a premiere HR Tech platform on Nov. 11-12 in Riyadh. The summit will be hosted under the theme “Reshaping the Future of HR: From HR Transformation, HR Disruption to HR Invented”. Under Saudi Vision 2030, the country aims to increase investment in the technology sector and incorporate further digital transformation in the region. With King Salman’s program for Human Capital Development, the Kingdom of Saudi plans to train 500,000 government employees by the year 2020 in the HR and technology industry.Zone, a leading IT service provider in Saudi Arabia is onboard as the Gold Sponsors of the 3rd Annual HR Tech Saudi Summit. Zone has one of the largest shares of...
August 28, 2019

HR Tech Saudi Summit focuses on reshaping HR future in Kingdom

Audi Q8
SAMACO-Audi sales log 12% growth in H1
JEDDAH — SAMACO-Audi sales have seen solid growth for key models during the first half of 2019 in comparison to 2018 in Saudi Arabia and especially for the new Audi Q8, the halo model of the Q Range. The Q8 has been the biggest seller for 2019 with 28% of the total volume. Other winning models include the A8, with a 26% growth and the A3 & Q5, which have each achieved a 12% increase over the same period last year in Saudi Arabia.The Audi Q8 combines the elegance of a four-door luxury coupé with the practical versatility of a large SUV and has been eagerly in demand since its launch in the region during Q3 2018. Richly equipped, comprehensively connected and tough enough for off-road duty, it is a confident companion for business and leisure. This combination of luxury and performance...
August 28, 2019

SAMACO-Audi sales log 12% growth in H1

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