Aggregate gross loans in GCC highest in 13 quarters
finance3 hours ago
The world's largest toymaker, Denmark's Lego, said Tuesday it would stop all its Russian operations, ending the employment of its Moscow staff and a partnership with a company operating 81 stores in Russia.
A Lego spokeswoman said the company had decided to "indefinitely cease commercial operations in Russia given the continued extensive disruption in the operating environment".
This included terminating the employment of most of the Moscow-based team and a partnership with Inventive Retail Group which "operated 81 stores on the brand's behalf," the spokeswoman added.
The company had already halted deliveries to Russia in March following the invasion of Ukraine.
"We confirm the termination of the contract with Lego," a spokeswoman for Inventive Retail Group told AFP on Tuesday.
"Our company will continue to work as an expert in the category of construction and educational toys," she added.
ALSO READ:
In early May, Russia placed Lego products on a list of goods that could be imported without the agreement of the intellectual property owner in order to bypass restrictions imposed over the conflict in Ukraine.
Among the list published by the industry and commerce ministry were Apple and Samsung smartphones, major car brands, game consoles and spare parts used in various industries.
Aggregate gross loans in GCC highest in 13 quarters
finance3 hours ago
This initiative contributes to enhancing the values of unity and solidarity among members of society, creating a more cohesive and stable community
uae3 hours ago
Zimbabwe won by 80 runs on the Duckworth–Lewis–Stern system
cricket3 hours ago
Street battles break out when a team of surveyors enters the Shahi Jama Masjid in Sambhal on orders from a local court
asia3 hours ago
Rabies virus causes acute encephalitis in all warm-blooded hosts, and the outcome of infection is nearly always fatal
uae3 hours ago
Opener Jaiswal earned the title of heir-apparent to Kohli as his side's batting figurehead by helping set the mammoth target score of 534
sports3 hours ago
Rutherford struck 10 sixes and seven fours as he scored an unbeaten 103 runs in 40 balls
cricket4 hours ago
Abu Dhabi authorities urged the public not to publish any recordings captured by surveillance systems on social media platforms
uae4 hours ago