Business

Tesla chief Elon Musk has finally responded after media outlets around the world on Monday reported that the company plans to lay off 10% of its workforce and two key executives have already left the automaker.

According to Teslarati, Musk, 52, explained that Tesla has to "reorganise and streamline the company for the next phase of growth" every five years.

“As we prepare the company for our next phase of growth, it is extremely important to look at every aspect of the company for cost reductions and increasing productivity,” Musk stated in an email to employees.

“As part of this effort, we have done a thorough review of the organization and made the difficult decision to reduce our headcount by more than 10% globally. There is nothing I hate more, but it must be done,” he continued.

Later, senior vice president of Powertrain Drew Baglino and vice president of Public Policy and Business Development Rohan Patel announced their departures from Tesla.

As competition heats up and it becomes increasingly evident that it must modernise its product line, Tesla has been getting ready to launch into a new stage of growth for its automotive division.

While the Cybertruck was delivered less than six months ago and the Model 3 was recently updated, Tesla is getting ready to introduce a new next-generation vehicle platform that will allow it to enter a new growth cycle.

The company is set to launch its next-generation platform featuring the Robotaxi and rumoured $25,000 vehicle in the second half of 2025.

However, the company has warned investors of lower growth rates in 2024 and early 2025 due to the focus on the new platform.

U.A.E: Red Sea Global and Warner Bros. Discovery have joined hands to bring forth a compelling narrative that sheds light on the vital importance of combating climate change's impact on coral reefs. The collaboration will be showcased in the upcoming film “Beneath the Surface: The Fight for Corals”,  which is set to air on Discovery channel and discovery+ via stc/Jawwy tv on Earth Day 22nd April 2024.

Red Sea Global is the developer behind regenerative tourism destinations The Red Sea and Amaala. It aims to demonstrate how environmental stewardship is integral to tourism development. Part of this is cultivating global awareness regarding the vital contribution of coral reefs in sustaining the planet's ecosystem. A first exclusive look of the film was shown during a side event to COP28 in Dubai, hosted by Red Sea Global.

Produced by BAFTA winning production company Park Village and Directed by Emmy & BAFTA award nominated British Director, Ian Derry, "Beneath the Surface: The Fight for Corals" follows the extraordinary journey of Salma Shaker, a skilled Saudi Arabian free diver, as she delves into the groundbreaking work conducted by scientists at Red Sea Global and King Abdullah University of Science and Technology (KAUST). The story transcends borders, including a captivating visit to the reefs in Mexico. The narrative, told through Salma's eyes, strikes a delicate balance between accessibility and emotional impact, making it a moving exploration of the challenges faced by coral reefs globally.

At the heart of the film is the focus on the undiscovered reefs along Saudi Arabia's Red Sea coastline. Red Sea Global aims to unravel the mysteries of this untapped territory, showcasing its unique biodiversity and the integral role it plays in supporting the global ecosystem. The narrative will delve into the potential benefits of coral research in the Red Sea for ecosystems worldwide.

"At Red Sea Global, we are inspired by nature and led by science. Our destinations, the first of which opened to guests last year, are home to some of the most stunning corals anywhere in the world. They are also among the most resilient, but even Red Sea coral is not invincible. Our scientists are using innovative techniques to protect, nourish, and restore our corals, while also transferring knowledge to support coral reefs worldwide,” said John Pagano, Group CEO at Red Sea Global. “In 'Beneath the Surface: The Fight for Corals,' we aim to spotlight the beauty and vulnerability of these underwater wonders and emphasize the importance of global collaboration in preserving our oceans."

Kerrie McEvoy, Director, Head of Factual Channels, Discovery Networks EMEA at Warner Bros Discovery, said: "We are immensely proud to announce our partnership with Red Sea Global in presenting ‘Beneath the Surface: The Fight for Corals’ which will air on Earth Day. Warner Bros. Discovery is committed to leveraging the power of storytelling to not only entertain but also inspire change and this film is a perfect example of how we can do that."

Edina Constantinescu, Senior Director Marketing EMEA & International, Social Good- Discovery Networks at Warner Bros. Discovery, said: “Social good is an important priority for us at Warner Bros. Discovery and we aim to be at the forefront of raising awareness upon social and environmental issues our world faces constantly. Our brands give us the possibility to reach millions of people across the world and I’m so proud that Beneath the Surface: The Fight for Corals will air on Discovery Channel across the US, Europe, Turkey, The Middle East, Africa and Asia to cast the spotlight on the importance of protecting our reefs. We want our viewers to understand that they can make a difference in the world and be part of the solution in tackling environmental and climate issues and I hope this film will inspire our audiences to do something extra for a better tomorrow.”

The project will leverage contributions from a diverse cast of experts to provide context on the current state of reefs worldwide, their significance in the global ecosystem, the challenges they face internationally, and the ongoing efforts to address these challenges head-on.

The anticipated air date is on Discovery channel and discovery+ via stc/Jawwy tv which will be on Earth Day, April 22, 2024 at 9pm KSA time.


About Warner Bros. Discovery

Warner Bros. Discovery (NASDAQ: WBD) is a leading global media and entertainment company that creates and distributes the world’s most differentiated and complete portfolio of content and brands across television, film and streaming. Available in more than 220 countries and territories and 50 languages, Warner Bros. Discovery inspires, informs and entertains audiences worldwide through its iconic brands and products including: Discovery Channel, discovery+, CNN, DC, Eurosport, HBO, HBO Max, HGTV, Food Network, OWN, Investigation Discovery, TLC, Magnolia Network, TNT, TBS, truTV, Travel Channel, MotorTrend, Animal Planet, Science Channel, Warner Bros. Film Group, Warner Bros. Television Group, Warner Bros. Games, New Line Cinema, Cartoon Network, Adult Swim, Turner Classic Movies, Discovery en Español, Hogar de HGTV and others. For more information, please visit www.wbd.com.


About Red Sea Global 

Red Sea Global (RSG - www.redseaglobal.com) is a closed joint-stock company wholly owned by the Public Investment Fund (PIF) of Saudi Arabia. 


It is a vertically integrated real estate developer with a diverse portfolio across tourism, residential, experiences, infrastructure, transport, healthcare, and services. This includes the luxury regenerative tourism destinations The Red Sea, which began welcoming guests in 2023, and AMAALA, which remains on track to welcome first guests in 2025.
A third destination, Thuwal Private Retreat, will open this year, and RSG has also been entrusted with refurbishment works at Al Wajh Airport, focused on upgrading the existing terminal and infrastructure, and building a new international terminal.
RSG is a cornerstone of Saudi Arabia’s ambition to diversify its economy. Across its growing portfolio of destinations, subsidiaries and businesses, RSG seeks to lead the world towards a more sustainable future, showing how responsible development can uplift communities, drive economies, and enhance the environment.

ISLAMABAD: Pakistan's local refineries, which are set to start $5-6 billion investment for their upgradation projects, have sought an end to the smuggled petroleum products from Iran, The News reported Monday. 

The development comes after the refineries signed Implementation Agreements (AIs) with Oil & Gas Regulatory Authority (Ogra) to start the $5-6 billion investment in six years time. 

Oil Companies Advisory Council (OCAC), in its letter written to Special Investment Facilitation Council (SIFC) on April 7, drew attention to a serious threat to the opportunity of huge investment in the country owing to the rise in smuggled products. 

The refineries have linked their investment for upgradation projects to ensure Euro-V diesel and petrol with total end to the influx of smuggled POL products from Iran on sustainable basis. 

Otherwise, the expansion and upgradation of the refineries would not be economically viable anymore as the investment is being planned on optimum capacity utilisation. Moreover, if the smuggling doesn't stop, it would raise question on the viability of these projects, forcing prospective investors to review their decisions.

Due to the use of smuggled products from Iran, oil marketing companies (OMCs) like PSO and Shell are also facing low consumption of their imported POL products. This is leading to a huge loss of $35.6 million a month, including damage in revenue to the government.

Additionally, the government is also losing revenue from petroleum levy, customs duty, corporate tax and super tax.

The issue can also jeopardise opportunity of the forthcoming huge investment in refineries expansion upgradation projects under the Oil Refining Policy for Upgradation of Brownfield Refineries, 2023 (As amended in February 2024).

Attock Refinery, National Refinery and Pakistan Refinery have consented to signing the upgradation agreements with Ogra while PARCO and Cnergyico are also expected to join. This would take the total investment to $5-6 billion.

The Refining Policy, which took four years in the making, with its final approval in February 2024, has presented a golden opportunity not only to bring in huge investment but also substantially increase production of deficit products and meet environment-friendly Euro-V specifications.

It would, therefore, be most unfortunate if the planned upgradation projects are delayed or abandoned due to continued illicit activity, which is already bleeding the economy, and has disrupted the entire supply chain of petroleum products, adversely affecting the refinery health, White Oil Pipeline operations and the profitability of Oil Marketing Companies and dealers. 

The letter also mentioned that this issue has been taken up at various forums but unfortunately, no concerted effort has been undertaken to stop this menace. The OCAC also wrote a letter to SIFC as the one-window investment facilitation institution for unwavering support to aggressively combat and dismantle the smuggling networks, reclaim control of the market and restore the momentum of struggling oil industry. It said failure to promptly address this issue will have catastrophic consequences for the energy security and economic stability of the country.

The OCAC also wrote a letter to secretary petroleum on March 25, however, no action has been taken against the rise in smuggled POL products since. 

Abu Dhabi: The Abu Dhabi Businesswomen Council, a subsidiary of the Abu Dhabi Chamber of Commerce and Industry, organized a Ramadan Suhoor event that brought together businesswomen in the Emirate of Abu Dhabi, and highlighted the diverse talents and skills of female entrepreneurs in various fields and sectors. Each touchpoint and experience as part of the Suhoor was in collaboration with ADBWC’s members, from the host venue through to flowers and guest gifting, reinforcing its continued commitment and support to its female entrepreneurs.

The Suhoor gathering underscored the pivotal role of female entrepreneurs in shaping the future of businesses, industries and innovation. Prominent figures attended the event, engaging in networking, sharing insights, and celebrating the remarkable contributions of women in the business world. 

The event, which took place in the presence of the Chairwoman of the Abu Dhabi Businesswomen Council, H.E. Asma Al Fahim, and Board Members H.E. Marwa Al Mansoori, and H.E. Noor Al Tamimi; and ADBWC’s Director Fatima Al Blooshi, was an interactive platform that promoted constructive communication and the exchange of experiences between female entrepreneurs at the level of the Emirate of Abu Dhabi. 

Her Excellency Asma Al Fahim, Chairwoman of the Abu Dhabi Businesswomen Council, said: "We are so pleased to host yet another Suhoor event as it exemplifies the spirit of solidarity and support amongst businesswomen, it also highlights the power of collaboration in driving success.

She further emphasized, “as a continuation of the previous year, we wanted to reaffirm our on-going support for our members by organizing today’s Suhoor at The Society restaurant, owned by Shaikha AlMheri, as well as collaborating with Ayesha Aldhari, who owns Fleurology, to decorate the tables with floral arrangements, and partnered with Ayesha Al Mansoori for the giveaways from her brand HBH.”

The Abu Dhabi Businesswomen Council was established under the umbrella of the Abu Dhabi Chamber of Commerce and Industry in 2001. It aims to raise women’s awareness of entrepreneurship as a professional career path for effective participation in economic development, in addition to increasing women’s participation in entrepreneurship through training, consultation and embracing emerging projects, in accordance with the latest developments and best practices. Additionally, the Council is committed to promoting the competitiveness of businesswomen in line with global trends, by anticipating the future of entrepreneurship, keeping pace with the latest developments, and benefiting from legislative, technical and innovative facilities.

Doha: – DHL, the world leading logistics company, has joined as the exclusive logistics partner to the Autonomous e-Mobility Forum (AEMOB) 2024, set to take place in Doha, Qatar from April 30th to May 2nd. This partnership underscores DHL's ongoing dedication to identifying and supporting truly innovative initiatives in the space of e-mobility.
The multilateral AEMOB Forum, hosted by the Ministry of Transport of the State of Qatar, will bring together international experts to explore the future of autonomous e-mobility from all relevant perspectives, including technology, science and research, and policy.
"We are proud to welcome DHL as a partner for the AEMOB Forum," said Ahmad Al Ansari, Executive Committee Member of the Forum. "DHL's global reputation and expertise make them a key player in mobility. Their involvement will not only enhance our discussions, but also contribute to the advancement of innovation overall."

"We really are honoured to become the logistics partner for the AEMOB Forum 2024," said Ahmed Elfangary, Country Manager at DHL Express Qatar. "As a global logistics leader, we at DHL remain strongly committed to driving innovation in transport by supporting initiatives, that have a positive vision and true potential to advance sustainable mobility solutions worldwide. We look forward to imparting our expertise to ensure that the AEMOB Forum is a success."

The alliance between DHL Qatar and the AEMOB Forum also highlights the importance of cross-sector collaboration to propel the development and adoption of autonomous e-Mobility technologies further. Through this collaboration, DHL reaffirms its steadiness in promoting the transition to a sustainability-conscious logistics and transportation practice.

Al-Muzaini Exchange Company, the premier money exchange company in Kuwait, proudly announces the grand opening of its latest branch in Jleeb Al Shuyoukh. This strategic expansion marks a significant milestone for the company, bringing the total number of Al Muzaini branches across Kuwait to over 137.

The inauguration ceremony, held on April 2nd, was attended by Mr. Hugh Fernandes, the General Manager of Al Muzaini Exchange Company, alongside department managers and senior personnel. Mr. Fernandes expressed his enthusiasm, stating, “We are delighted to strengthen our leading position in the market and reaffirm our commitment to delivering unparalleled financial services to our valued customers. Our mission is to always be within reach of our customers and enhance their convenience.”

With a relentless focus on customer satisfaction, Al Muzaini Exchange Company offers a comprehensive range of financial services, including money transfers, foreign currency exchange, and bill payments. The new branch in Jleeb Al Shuyoukh underscores the company's dedication to providing convenient, comfortable, and secure services at competitive prices, seven days a week.

In addition to its extensive network of branches, Al Muzaini offers a user-friendly mobile application that empowers customers with simple and secure financial solutions. Furthermore, customers can avail themselves of self-service kiosks strategically located for seamless transactions.

For over 80 years, Al Muzaini Exchange Company has remained committed to its mission of being "always near you," ensuring that customers receive exceptional financial services whenever and wherever they need them.

DUBAI, United Arab Emirates – From eggs-travagant Easter Egg hunts, fun-filled brunches, indulgent Easter-themed dinner spreads, and buckets of joy at Aquaventure Waterpark, Atlantis Dubai is the ultimate destination to celebrate Easter with loved ones.  

Michelin-Star Easter Dinner at Dinner by Heston Blumenthal 
The renowned one Michelin-star restaurant, Dinner by Heston Blumenthal invites guests to celebrate the joy of Easter over a special menu which draws inspiration from the tastes and tales of Britain dating back as far as the 13th century, from the farmers’ table to the grand royal courts of England. Featuring a delightful four-course tasting menu including frumenty grilled octopus (c.1390), lamb and cucumber (c.1826) to the acclaimed Meat Fruit (c.1500), diners are in for a real treat this Easter.
•    Date: Friday 29th March – Monday 1st April 
•    Time: 6:00pm – 11:00pm 
•    Four-course tasting menu
•    Price: AED 850 per person 
•    Entertainment: Piped music  
•    No age policy
•    Location: Atlantis The Royal 
Bread Street Kitchen & Bar – Easter Brunch
Bread Street Kitchen & Bar is bringing Easter to life with the perfect family brunch. While parents enjoy a relaxing dining experience, kids will be able to participate in fun-filled activities including arts and crafts, face painting, and an Easter egg hunt where the winner will be gifted a grand golden egg. Diners can look forward to indulging in a delicious buffet including a seafood and oyster bar to a vast array of main dishes straight from the kitchen and Easter-themed signature desserts. Following brunch, families will be treated to complimentary access to The Lost Chambers.
•    Date: Saturday 30th March 
•    Time: 12:30pm – 4:00pm 
•    Easter family brunch – menu highlights include salmon en croute, spinach, beurre blanc & pressed lamb with yoghurt, peas, and mint
•    Price: AED 695 per person (champagne package), AED 625 per person (alcoholic package), AED 450 per person (non-alcoholic package), AED 250 for children (ages 4 to 11; 3 and under are free)  
•    Entertainment: Live solo singer and entertainment for children 
•    No age policy
•    Location: Atlantis, The Palm 
Bread Street Kitchen – Sunday Signature Roast with an Easter sweet treat
Gordon Ramsay’s renowned Bread Street Kitchen & Bar will be offering the ultimate Easter-themed quintessential British roast. Served with a choice of roast beef, chicken or lamb, along with all the trimmings including duck fat roasted potatoes, savoy cabbage, roasted carrots, and parsnips, and a traditional Yorkshire pudding – guests will also be treated to a complimentary homemade trifle. Plus, don’t forget to take advantage of the restaurant’s two selected cocktails for just AED 70.  
•    Date: Sunday 31st March 
•    Time: 12:00pm – 5:00pm 
•    Ramsay’s Signature Roast menu with all the trimmings and dessert
•    Price: AED 195 per adult and AED 97.50 for children |Two selected cocktails for AED 70
•    Entertainment: Live solo singer 
•    No age policy
•    Location: Atlantis, The Palm 
Wavehouse – All Day Easter fun with endless entertainment 
For an egg-cellent occasion, gather family and friends and join Wavehouse for an Easter to remember with a specially curated menu including Easter roast lamb and stuffed hog. From an Easter egg hunt, art and craft activities for children and Easte- themed character roaming the venue – the whole family is set to be in for a treat.  
•    Date: Thursday 28th March – Sunday 7th April  
•    Time: 12:00pm – 1:00am 
•    Themed Easter menu with activities for the whole family
•    À la carte menu available and Easter themed dishes starting from AED 80 
•    Entertainment: Live band and Easter kids’ activities
•    No age policy
•    Location: Atlantis, The Palm 
Plato’s – Easter Afternoon Tea
Indulge in a mouth-watering array of Easter-themed culinary treats with Plato’s special-edition Afternoon Tea. Guests will be able to tuck into delicious sweet and savoury delights, complemented by an eclectic assortment of teas and a selection of curated cocktails and mocktails to add an eggs-tra touch.

Upon arrival, guests will be seated in the stylish lounge with beautiful views of the Palm Island before enjoying a selection of homemade sandwiches, followed by handcrafted sweets created by the resort’s team of talented chefs. Diners will also receive a chocolate Easter egg for takeaway courtesy of Plato’s. For those who wish to take a taste of Easter home, Plato’s offers a tantalising selection of eggs and bunnies made out of chocolate. 
•    Date: Monday 25th March – Sunday 7th April 
•    Time: 2:00pm – 5:30pm 
•    Price: 
-    Plato’s Easter afternoon tea: AED 220 per person including unlimited team or coffee
-    Pearl afternoon tea: AED 250 per person including one signature cocktail 
-    Ocean afternoon tea: AED 355 per person including bottomless Prosecco for 1.5 hours 
-    Treasure afternoon tea: AED 590 per person including bottomless champagne for 1.5 hours 
•    No age policy
•    Location: Atlantis, The Palm 
Gastronomy – Easter Family Dinner  
Guests can add a dash of cheer to their Easter revelry with a myriad of flavours at Dubai’s newest gourmet dining hall, Gastronomy. With 17 live cooking stations, four bars and an enticing array of over 100 delectable dishes.  Available over Easter weekend, diners will be able to enjoy an indulgent dinner spread.  
•    Date: Saturday 30th March – Sunday 31st March 
•    Time: 8:00pm – 10:00pm 
•    Easter themed dinner 
•    Price: AED 325 per adult and AED 162.5 for children aged 4-11, and children 3 and under are free 
•    Location: Atlantis The Royal 
Kaleidoscope – Easter Family Brunch 
Atlantis, The Palm’s international buffet restaurant is inviting families to feast on a special Easter brunch. Diners can look forward to indulging in dishes such as Mediterranean fish pie, Shepherd’s pie, honey mustard-glazed whole veal leg, apricot and herb stuffed leg of lamb, and pickled quail eggs with toasted fennel seeds. There will be an array of fun activities to keep the little ones amused, including face painting, egg painting, a magician and a bunny mascot. 
•    Date: Sunday 31st March  
•    Time: 1:00pm – 4:00pm 
•    Easter themed brunch 
•    Price: AED 280 per adult and AED 140 for children ages 4-11, and 3 and under are free 
•    Location: Atlantis, The Palm 
Saffron – Easter Family Dinner 
Saffron brings Easter to life with a lavish dinner spread including special dishes such as lemon honey roasted chicken, mix herbs-rub roasted lamb shoulder, roasted heirloom vegetables, vegetarian pot pie, and duck and foie grass rice. There is something for everyone in the family to enjoy. 
•    Date: Friday 29th March – Sunday 31st March 
•    Time: Friday and Sunday: 6:00pm – 10:00pm | Saturday: 7:00pm – 10:00pm
•    Easter themed dinner buffet  
•    Price: AED 275 per adult and AED 137.5 for children ages 4-11, and 3 and under are free 
•    Location: Atlantis, The Palm 
Litle Venice Cake Company – Easter Goodies
Dubai’s favourite cake atelier, Little Venice Cake Company at Atlantis The Royal, offers an array of Easter-themed desserts in celebration of the holiday. The collection features beautifully decorated cupcakes, an indulgent Easter-themed chocolate sponge cake with chocolate buttercream and chocolate ganache as well as Easter themed shortbread cookies. 
•    Friday 29th March – Sunday 31st March 
•    Time: Tuesday - Saturday: 10:00am – 6:00pm 
•    Price: 
-    Easter cupcakes: AED 45 each
-    Easter chocolate cake (6-inch): AED 360
-    Easter shortbread cookies: AED 95 (6 pieces) 
•    Location: Atlantis The Royal
Aquaventure – Easter Fun Galore 
As Easter is hopping closer, Aquaventure Waterpark invites guests to grab their baskets and head on out for day of splashing fun. Get into the Easter spirit with a series of egg-citing activities that promise incredible fun and delightful surprises at every turn. 

Easter Egg Drop at Aquaventure Waterpark
The big bucket at Splashers Mountain will be filled with Easter eggs, some of which come with exclusive prizes. Once the bucket flips and the eggs drop, guests can search for the special eggs to win big.
•    Date: Sunday 31st March 
•    Time: 8:30am – 9:00am 
•    Price: Activity is complimentary for Aquaventure Waterpark guests
•    Location: Splashers Mountain, Aquaventure Waterpark 
•    Age Policy: For children ages 4-12 years 
Easter Egg Hunt at Aquaventure Waterpark 
Torrent River will be filled with plastic eggs, some of which come up hidden prizes. Guests can float around and search for those special eggs for a chance to win.
•    Date: Sunday 31st March
•    Time: 9:30am – 10:00am 
•    Price: Activity is complimentary for Aquaventure Waterpark guests
•    Location: Torrent Beach, Aquaventure Waterpark 
•    Age Policy: For ages 6 and above
Easter-Themed Games at Aquaventure Waterpark
There will also be a plethora of fun-filled Easter games throughout the day at Aquaventure Waterpark, including Egg Quest, Egg & Spoon, Egg Shoot, Feed The Bunny, and Find The Golden Egg. 
•    Dates: Friday 29th  March – Monday 1st April  
•    Time: 9:30am – 10:00am 
•    Price: Activity is complimentary for Aquaventure Waterpark guests
•    Location: Aquaventure Waterpark 
•    No age policy 
For restaurant bookings and more information call + 971 4 426 2626 or visit www.atlantis.com/dubai/restaurants. To book waterpark tickets, visit https://www.atlantis.com/dubai/atlantis-aquaventure/aquaventure-waterpark.

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