Tuesday 26 May 2015
 
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Facebook raises minimum pay for contractors to $15 per hour

Facebook raised wages for its contract workers, such as cafeteria staff and janitors, to a minimum of $15 per hour amid rising tension over the wage gap between the technology sector's elite and the lower-paid workers. Contrac

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Aston Martin secures $300m to fund new models

British luxury carmaker Aston Martin has raised 200 million pounds ($307 million) in an equity issue, backed by its major shareholders, to fund its expansion into crossovers. The 102-year old company, James Bond's carmaker of

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Saudi hardware retailer to raise $134m from float

Saudi Company for Tools and Hardware (Saco), a popular do-it-yourself (DIY) chain in the kingdom, has set the price for its 30 per cent initial share sale at SR70 ($18.70) each, a statement from the company's financial adviser said on Thursd

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Ahli United plans to raise $4bn in financial instruments

Bahrain-based Ahli United Bank (AUB) Group may raise $4 billion in bonds, loans or any other similar subordinated financial instruments, following shareholder approval for the proposal, it has emerged. The election of Hamad Al Hum

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Jupiter’s moon ‘has an ocean,’ raising prospects for life

Scientists using the Hubble Space Telescope have confirmed that the Jupiter-orbiting moon Ganymede has an ocean beneath its icy surface, raising the prospects for life, Nasa said on Thursday. The finding resolves a mystery about t

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Saudi to hike April crude selling price for Asia

Top oil exporter Saudi Arabia is expected to raise the official selling price (OSP) for most of its crude grades to Asia in April, including a hike in the OSP for Arab Light to a four-month top, in line with a stronger Dubai market.

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Walmart to spend $1bn to raise wages this year

Walmart Stores, long criticised for its low wages and employee benefits, said it would spend more than $1 billion to increase pay for half a million US employees this year. The increase announced by the largest private sector empl

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Mena IPOs raise $11.5bn, highest since 2008

Companies in the Middle East and North Africa (Mena) region have raised $11.5 billion last year, through 27 initial public offerings (IPOs), nearly four times more than the $3 billion in 2013, according to a report. The Ernst &

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Key Tenmou-backed app raises $300,000 funding

Tenmou, Bahrain's first 'Business Angels' company, has announced that 'eat' - an app that allows users to create restaurant reservations online, has raised $300,000 in the second round of funding. With this add

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Dubal holds talks with banks on raising loan

Dubai Aluminium (Dubal) has held talks with banks about raising a loan to help fund its general operations, the first time the firm has commissioned such a facility in years, three banking sources told Reuters. While it is a rarit

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