News

Dubai-Based Noon Has Eliminated 10% Of Its Workforce

Employees in the marketing and advertising departments were laid off.

Published

1 year ago

April 24, 2023

Nour Nasir

Noon

After an initial surge during the height of the pandemic, many tech companies are now announcing cutbacks as the global economy continues to slump. Despite a generally buoyant digital economy, many Middle Eastern companies are also beginning to feel the strain as profits decline. One of those companies, Noon, recently issued a statement announcing layoffs of around 10%.

According to founder Mohamed Alabbar, Noon recently reduced its workforce to minimize costs, noting that the marketing and advertising departments of the Middle Eastern rival to Amazon were targeted for cuts.

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“We’ve been cutting costs and reducing staff for the past year and a half,” said Alabbar.

In 2021, Noon hoped to raise $2 billion from investors to aid further expansion across the Gulf e-commerce market. In February, the company acquired fashion e-retailer Namshi in a bid to expand its digital products and services with new fashion and lifestyle brands.

News

NASA Forms New Partnership With Saudi Space Agency

The pair will collaborate on the Center for Space Futures, advancing space tech by bringing together public and private stakeholders.

Published

2 days ago

May 16, 2024

Nour Nasir

Saudi Space Agency

Saudi Arabia’s space industry is on the brink of substantial expansion after generating $400 million in revenue in 2022, according to a report by the Saudi Communications, Space and Technology Commission.

Now, in a new venture with NASA, plans for a “Center for Space Futures” are set to further drive the Kingdom’s aspirations of becoming a leading player in space exploration and technology.

Capturing moments from the joint delegation visit with leaders from the Saudi and American Space Agencies @NASA to @PSU_RUH, along with scenes showcasing the audience's engagement. pic.twitter.com/oB1cFTiRNl

— وكالة الفضاء السعودية (@saudispace) May 14, 2024

The partnership between NASA and Saudi Arabia goes beyond economic advantages. The pair have already cooperated on preliminary work for the Artemis II lunar mission, which is slated for a September 2025 launch and aims to land astronauts near the moon’s South Pole.

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During a visit to the capital, Riyadh, NASA Administrator Bill Nelson emphasized in a TV interview the broader objectives of the collaboration, which encompass “returning to the moon and then [to] Mars” while utilizing space exploration to glean important insights into climate change. The NASA spokesman also reiterated the space agency’s dedication to collaborating with Saudi Arabia on other future ventures.