Daily brief: Top 7 business stories for today
Here are the top seven business stories you need to know today
US to elect new president today
Citizens of the United States begin voting to elect a new president on Tuesday. Polls start at 6am EST (3pm Dubai), and close on November 9 at 4am GMT, (8am Dubai). A Reuters Ipsos State of the Nation poll predicts that Democrat Hillary Clinton has a 90 per cent chance of defeating Republican candidate Donald Trump.
Saudi to settle delayed private sector payment by end of year
Saudi Arabia’s government is discussing settling due payments to the private sector before the end of the year, according to the Saudi state news agency, SPA.
The payments have been delayed due to sharp drops in oil revenue. The announcement did not give a size or value for the delayed payments.
Facebook threatens LinkedIn with new job opening feature
Facebook is testing a new feature that allows page administrators to create job postings and receive candidates’ applications, a move that could threaten LinkedIn’s business.
“Based on behaviours we’ve seen on Facebook, where many small businesses post their job openings on their Page, we’re running a test for Page admins to create job postings and receive applications from candidates,” a Facebook spokesperson told Reuters.
The new feature also allows companies to pay Facebook so their job openings reach more candidates, according to technology website TechCrunch.
Dubai’s Hatta set to transform
Hatta district in Dubai is undergoing a AED1.3 billion development plan that aims to transform the district into a world-class tourist attractions.
The Comprehensive Development Plan of Hatta will focus cultural, economic and social developments.
His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, visited a number of sites set to be covered under the development plan and viewed the development designs.
Oil prices steady ahead of US elections
Oil prices stand stable on Tuesday ahead of the US elections, as investors feel optimistic about a potential lead for Democrat Hillary Clinton in the race.
New multi-purpose arena for Dubai
Dubai-based holding company Meraas announced plans to develop a massive indoor events stadium, scheduled for completion by the end of 2018.
The new project, Dubai Arena, will cover 500,000 square feet, with a capacity to hold 20,000 people.
Saudi oil shipments to Egypt halted indefinitely
Saudi Arabia informed Egyptian authorities that oil products expected under an aid deal worth $23 billion have been halted indefinitely, Egypt confirmed on Monday.