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- SABIC completes sale of Alba shares to Maaden for $963m
- China's Alibaba to invest $50b in AI, cloud computing
- Trump administration eliminates 2000 USAID jobs
- Japan's inflation rate hits 19-month high in January
- Dubai's Parkin launches its own app for easy payments, booking in advance
- Boursa Kuwait increases its net profit by 15.08% to reach KD 18.18 million for 2024
- Modon seeks bids for Dammam logistics zone development
- L&T snaps up mega $1.5bn Saudi Aramco EPC contract
- Egypt Kuwait Holding achieves $163 million in net profit in 2024
- Saudi Real Estate Refinance Co. raises $2bn in debut international sukuk
24/02/2025 07:25 AST
The Trump administration has initiated a sweeping restructuring of the US Agency for International Development (USAID), placing most of its employees on leave and eliminating 2,000 US-based positions.
"As of 11:59 p.m. EST on Sunday, February 23, 2025, all USAID direct hire personnel, except designated personnel responsible for mission-critical functions, core leadership and/or specially designated programs, will be placed on administrative leave globally," the Agency said in the notices sent to USAID workers.
"Concurrently", the notice added, the agency is "beginning to implement a Reduction-in-Force" affecting about 2,000 US Aid personnel in the US.
The White House did not immediately respond to request for comment.
This move marks a significant step in the US administrations efforts to reduce government spending and reshape USAID, which has long been a key instrument in global humanitarian and development work.
QNA
| Index | Closing | Change |
|---|---|---|
| NIKKEI 225 | 36,581.76 | -251.51 (-0.68 |
| DAX | 18,699.40 | 181.01 (0.97 |
| S&P 500 | 5,626.02 | 30.26 (0.54 |
24/02/2025
Chinese tech giant Alibaba said Monday it will spend more than $50 billion on artificial intelligence and cloud computing over the next three years, a week after co-founder Jack Ma was seen meeting w
Gulf Times
23/02/2025
Shard Capital Partners, an independent financial services company headquartered in London, in collaboration with UAE-based Royal Strategic Partners and Saudi Arabia's Al-Qahtani Group, has announced
Trade Arabia
23/02/2025
Indian engineering and construction conglomerate Larsen & Toubro (L&T) has announced that one of its key units has secured a mega contract worth $1.5 billion from Saudi oil giant Aramco for a key pro
Trade Arabia
22/02/2025
The chief executive of Dubai-based cryptocurrency exchange Bybit has guaranteed that client funds are safe and available for withdrawal, despite the company suffering a sophisticated hack that is bel
The National
22/02/2025
Japanese inflation accelerated in January, further pressuring households as prices excluding fresh food rose 3.2 percent on-year, government data showed Friday. The rate was the highest since June 20
Kuwait Times
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