Category: Business

The UAE and Israel will look to expand mutual investment and manufacturing under a deal signed on Wednesday between the Ras Al Khaimah Economic Zone (RAKEZ) and the Israeli Manufacturers Association (IMA), the WAM state news agency reported. The Memorandum of Understanding (MoU) calls for the two sides to collaborate to create investment opportunities and […]

Russia confirmed that for 60 days it would continue to be a part of the Initiative and the complementary Memorandum of Understanding on food and fertilizer exports from Moscow, in late May – but the deal in effect expires on 17 July. The UN brokered the deal guaranteeing safe passage for grain cargo ships, along […]

L’Oréal Paris executives have launched a new facial-care series, Revitalift Clinical, with the flagship ingredient vitamin C. Executives present at the launch in Tel Aviv on Tuesday included Ilan Nacasch, director of the Consumer Products Division at L’Oréal Israel; Shai Katz, director of the Brand’s Facial Care Category; and Netta Kretso Neiger, director of communications […]

ChatGPT‘s creator OpenAI plans to invest significant resources and create a new research team that will seek to ensure its artificial intelligence remains safe for humans – eventually using AI to supervise itself, it said on Wednesday. “The vast power of superintelligence could … lead to the disempowerment of humanity or even human extinction,” OpenAI […]

The Food and Agriculture Organization (FAO) and the World Food Programme (WFP) have designed a new joint programme for smallholder farmers and rural families most affected by the conflict. The goal is to clear farmland impacted by the fighting of mines and other explosive remnants of war, safely allowing it to produce crops once again.  […]

Twitter has threatened to sue Meta Platforms over its new Threads platform in a letter sent to the Facebook parent’s CEO Mark Zuckerberg by Twitter’s lawyer Alex Spiro. Meta, which launched Threads on Wednesday and has logged more than 30 million sign ups, looks to take on Elon Musk’s Twitter by leveraging Instagram’s billions of […]

Speaking at the Paris Finance Summit, Mr. Guterres said many African States were spending more on debt repayments than on desperately needed healthcare, and that over 50 countries were either in default or “dangerously” close to it. The UN chief called for a debt relief mechanism that supports payment suspensions, longer lending terms and lower […]

The website Booking.com had been imposed a fine of NIS 2.5 million after concealing a value-added tax (VAT) to its purchases from consumers. The website systematically presented its prices in shekels without including the VAT rate applicable. This was in violation of the Consumer Protection Law, which requires the presentation of a “total price” and […]

Haiti The security situation in Haiti “is appalling,” said UN Secretary-General António Guterres, recalling his recent visit to the fragile nation. He called for swift action at a time when the humanitarian needs are “soaring”. And although “there is not yet the political solution in sight”, the UN chief expressed hope and optimism. “It is […]

1.97 million tourists entered Israel in the first half of 2023, still 13% lower than the peak in 2019 before the coronavirus pandemic, according to new data from the Tourism Ministry. The total revenue from foreign tourism in the first half of 2023 is estimated at NIS 11.7 billion, compared to NIS 5.4 billion in […]