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RemotePass, which helps companies onboard, manage, pay and retain remote workers, raises $5.5M

As remote work becomes increasingly prevalent, organizations globally are adapting, especially regarding onboarding procedures for new employees and navigating cross-border payment complexities. This new age of work has led to a surge in demand for startups that provide human resources (HR), payroll and compliance tools to help businesses hire remotely. RemotePass, one such business out of the UAE, has raised $5.5 million in Series A funding led by Istanbul-based 212 VC. Other participating investors include…

Tesla to Halt Production in Germany as Red Sea Conflict Hits Supply Chains

Updated Jan. 12, 2024 7:11 am ETBERLIN—Tesla plans to halt production at its biggest factory in Europe for two weeks as the conflict in the Red Sea continues to disrupt transport ships, raising the specter of a new supply-chain crisis for European manufacturers dependent on parts from China and other Asian countries.Tesla said in a statement Friday that it would stop nearly all production at its factory near Berlin from Jan. 29 to Feb. 12 because of a lack of components.Copyright ©2024Dow Jones & Company, Inc. All

Siemens Mobility inks $8.7 billion deal for high-speed rail in Egypt

A train passes through a station in Egypt. The project involving Siemens Mobility will use trains that can reach a top speed of 230 kilometers per hour, and the line will be fully electrified.Paulvinten | Istock | Getty ImagesA new high-speed rail line is coming to Egypt, with developer Siemens Mobility saying it will link 60 cities across the country.The fully-electrified lines will see trains with a top speed of 230 kilometers per hour and travel from the Red Sea to the Mediterranean, among other destinations.According…