Economy
Foreign firms race to open Saudi offices before deadline
A wave of ribbon-cutting ceremonies is sweeping the Saudi capital as multinationals face a January deadline to open regional headquarters in the Gulf kingdom or lose out on government contracts. "Only multinational companies with regional headquarters in the Kingdom will be eligible for tenders and contracts floated by government entities."
US transition to electric vehicles faces delays
The US transition to electric cars has hit a speed bump, with concerns about vehicle range and limited charging capacity adding to core affordability issues. But there are also significant doubts among drivers surrounding the autos over inadequate charging infrastructure (36 percent), battery range (39 percent) and vehicle affordability (38 percent).
Under fire, undermanned: Israel's wartime economy soldiers on
When rocket sirens echo on the factory floor of Rav-Bariach Industries, Israel's biggest maker of security doors, workers rush to take refuge in bomb shelters fitted with their own kit.
'Big Three' auto employees ratify overhauled contracts: union source
Members of the United Auto Workers (UAW) have ratified the in-principle labor agreements promising sweeping pay increases that were reached with US car companies Ford, Stellantis and General Motors, a union source told AFP Saturday. "All three are ratified," the source said of the agreements, which were reached after an unprecedented strike that lasted more than six weeks.
Record for world's priciest bottle of whisky smashed at London auction
A bottle of The Macallan 1926, described by Sotheby's auction house as the "most valuable whisky in the world", on Saturday went under the hammer for a record £2.1 million.
First French ski reports open, but only at high altitude
A few French high-altitude ski resorts opened ahead of schedule Saturday, just days after storms in the northern Alps wiped out some early snows. Mild temperatures and heavy rains hit the Northern Alps earlier this week, washing out much of the snow that had fallen in previous weeks.
Moody's affirms Italy's credit rating and upgrades outlook
The US ratings agency Moody's announced Friday it had affirmed Italy's credit rating at Baa3, and upgraded the country's outlook to "stable" from "negative," citing its significant economic strengths.
Pandas and partnership: Was Xi's US trip a success?
In a whirlwind US trip this week, Chinese President Xi Jinping held long talks with President Joe Biden, got a standing ovation from top business leaders, and even hinted there could be more pandas on the way to the United States. Yet, Xi could have gone "much further" to reassure the United States and the global community of China's benign intentions, Sher said.
US, China commerce ministers pledge to further talks in 2024
The United States and China plan further talks on commercial issues next year, the US Commerce Department said Friday in a commitment to continue high level engagement despite tensions. "During the meeting, the two discussed progress made under the commercial issues working group and planned to hold an in-person meeting in early 2024," the Commerce Department said in a statement.
Economy
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