Business
SEOUL: South Korea’s central bank kept its benchmark interest rate unchanged at 2.50% on Thursday, maintaining the Base Rate as policymakers balanced a steady inflation backdrop with improving economic momentum and ongoing financial stability concerns. The Bank of Korea’s Monetary Policy Board said it would hold the current level while…
NEW DELHI: India joined the Pax Silica initiative on Feb. 20 by signing the Pax Silica Declaration and a bilateral addendum titled the Joint Statement on the India-U.S. AI Opportunity Partnership at an event held on the margins of the AI Impact Summit. The documents were signed by S.…
SHARJAH: Air Arabia (PJSC) reported a record AED 1.8 billion net profit before tax for 2025 and said its board has proposed a cash dividend of 30 fils per share, subject to shareholder approval. The Sharjah-headquartered low-cost airline said the results cover the year ended Dec. 31, 2025,…
EuroWire, PETROPAVLOVSK-KAMCHATSKY: The 6th Sustainable Development Forum is scheduled to be held in Petropavlovsk-Kamchatsky from Feb. 17 to Feb. 21, bringing together government officials, business representatives and industry specialists for a multi day program focused on regional development in Kamchatka Krai and the wider Russian Far East. Organizers describe the…
Automotive
MENA Newswire, ATLANTA: Mercedes-Benz USA has unveiled the 2027 S-Class Sedan as a major update to its flagship luxury sedan, adding new lighting signatures, a revised cabin technology stack and expanded personalization choices. The automaker said the model introduces an illuminated front grille with three-dimensional chrome star accents, and for the first…
MENA Newswire, DETROIT: Ford Motor Co. is recalling about 119,000 vehicles in the United States after federal safety regulators said a defect in certain engine block heaters can raise the risk of an under-hood fire when the heater is plugged in. The recall covers some Ford and Lincoln vehicles equipped with 2.0-liter engines,…
BRUSSELS, December 17, 2025: The European Union is set to ease its planned 2035 ban on the sale of new combustion engine vehicles after sustained pressure from automakers and several member states, marking a significant policy adjustment in the bloc’s long-term climate agenda. The European Commission is preparing to revise the existing regulation that requires…
SHANGHAI, December 3, 2025: Tesla reported a 9.9 percent year-on-year increase in sales of its China-made electric vehicles (EVs) in November, marking the company’s strongest growth in more than a year, according to data released by the China Passenger Car Association (CPCA). The U.S. automaker sold 86,700 vehicles produced at its Shanghai Gigafactory…