Business News

Sportswear maker Adidas on Wednesday reversed course 48 hours after asking the US Trademark Office to reject a Black Lives Matter application for a trademark featuring three parallel stripes.

The UAE and Costa Rica have started negotiations to establish a Comprehensive Economic Partnership Agreement (CEPA).

Apple has launched its "buy now, pay later" (BNPL) service in the United States, a move that threatens to disrupt the fintech sector dominated by firms like Affirm Holdings and Swedish payments company Klarna.

Adnoc and BP have made a joint offer to buy a 50 per cent stake in Israel-based NewMed Energy.

In yet another blow to the beleaguered cryptocurrency industry, the US Commodity Futures and Trading Commission (CFTC) has filed a complaint against Binance, its co-founder Changpeng Zhao and its former chief compliance officer Samuel Lim.

Elon Musk said on Monday only verified Twitter accounts would be eligible to vote in polls starting April 15, a move that the social media company's CEO believes will address advanced AI bot swarms.

The UAE Central Bank (CBUAE) expects the country's GDP to expand by 4.3 per cent in 2024 while maintaining a 3.9 per cent growth forecast for this year.

The Dubai Taxi Corporation (DTC) has started the trial of the Skywell electric vehicle as part of its limo service. 

The city of St. Louis, Missouri, said it was joining a number of major US cities that are suing Korean automakers Hyundai and Kia for failing to install anti-theft technology in millions of their vehicles.

Al Ansari Financial Services has completed the book building and subscription process for the IPO on March 24, setting the final offer price set at AED1.03 per share, which is at the top end of the price range.

Google has issued a warning to its users regarding a pop-up scam that could potentially lead to the loss of important personal details and even money. 

Billionaire entrepreneur Elon Musk, who purchased Twitter for $44 billion in October 2022, has valued the company at less than half that price in a recent stock option offer to employees. 

Airports and bus and train stations across Germany were at a standstill on Monday morning, disrupting millions of commuters and travellers at the start of the work week during one of the largest walkouts in decades in Europe's largest economy.

Chinese search engine giant Baidu has cancelled a planned livestreamed product launch related to its ChatGPT-like "Ernie bot" that it had advertised as being open to media and the public.

Some parts of Twitter Inc's source code have been leaked and the social media platform owned by billionaire Elon Musk is seeking information on the person responsible, a legal filing showed.

Turkish President Tayyip Erdogan spoke by phone with Russia's Vladimir Putin and thanked him for his "positive attitude" in extending the Black Sea grain deal, the Turkish presidency said on Saturday.

France will ban the use of Chinese-owned video-sharing app TikTok on the work phones of civil servants, Civil Service Minister Stanislas Guerini said on his Twitter account.

OpenAI has announced the release of new plugins for its popular language model, ChatGPT. 

Shares of Jack Dorsey's Block, the payment company formerly known as Square, plunged nearly 15 per cent on Thursday after short-seller Hindenburg Research announced that it had taken a short position on the stock. 

UAE money exchange house, Al Ansari Financial Services, has increased the size of the retail tranche in its initial public offering (IPO) due to “strong demand”.

US lawmakers at a congressional hearing on Thursday accused TikTok of serving harmful content and inflicting "emotional distress" on young users, grilling the Chinese-owned app's CEO on the company's outsized influence on teens.

The Central Bank of the UAE (CBUAE) has announced the launch of its digital currency strategy.

Several celebrities, including actress Lindsay Lohan and YouTube influencer Jake Paul, have been charged by the US Securities and Exchange Commission (SEC) with promoting the cryptocurrencies of a Chinese entrepreneur accused of fraud.

The Central Bank of the UAE (CBUAE) has decided to raise the base rate applicable to the Overnight Deposit Facility (ODF) by 25 basis points – from 4.65 per cent to 4.90 per cent, effective on Thursday.

Financial literacy courses will be provided to over 9,000 blue-collar workers as part of Dubai Holding's latest community initiative set to launch this Ramadan.

Dubai Multi Commodities Centre (DMCC) has unveiled prototypes of a new series of gold and silver bullion coins that celebrate the achievements of the UAE over the last 50 years.

Google has announced the launch of Bard, an experimental AI tool that allows users to collaborate with generative AI to boost productivity and creativity. 

India dampened foreign airline hopes for more access to its airports on Tuesday, with its aviation minister urging domestic carriers to fly long-haul and help establish new hubs as it seeks to recapture control of Indian travel from foreign rivals.

Swedish retailer IKEA is recalling its BLÅVINGAD fishing game multicolour over choking concerns and has advised customers to stop using it.

Dubai International Financial Centre (DIFC) has announced the official launch of its venture building programme, which aims to promotes the growth of innovative start-ups and scale-ups in the region.

Expo 2020 Dubai’s closing report has been submitted to the Bureau International des Expositions (BIE), the governing body for all World Expos.

Switzerland awoke to a new era on Monday after UBS swept up Credit Suisse in a government-brokered rescue that dented the country's long-held pride in its banking expertise.

Bitcoin, the largest and most popular cryptocurrency, increased by 5.19 per cent to $28,380 at on Sunday, adding $1,400 to its previous close. 

Top ministers from the UAE and China have discussed enhancing joint investment opportunities in new economic sectors, trade, logistical transportation, real estate, financial services, technology, and insurance activities.

Talks over rescuing Credit Suisse rolled into Sunday as UBS AG sought $6 billion from the Swiss government to cover costs if it were to buy its struggling rival, a person with knowledge of the talks said.

AD Ports Group has signed a concession agreement to develop and operate a multi-purpose port in Safaga in Egypt.

The UAE and Georgia have signed a joint statement confirming the successful conclusion of negotiations towards a Comprehensive Economic Partnership Agreement (CEPA).

Microsoft has announced its latest productivity tool called Microsoft 365 Copilot, combining the power of large language models (LLMs) with Microsoft Graph and Microsoft 365 apps. 

Sharjah and Indian officials have reviewed the prospects of business collaboration, on a tour of the sub-continent by senior officials from the emirate.

The livery of the world’s largest international airline has undergone a refresh.

As Facebook announced a fresh round of layoffs, under its "Year of efficiency" plan, former Meta employees are speaking out on social media, accusing the tech giant of being uncaring and claiming the process isn't performance-based.

A bipartisan majority of Americans oppose US taxpayers footing the bill when bad management causes a bank to fail, though Republican opposition to bank bailouts has softened over the last decade, a Reuters/Ipsos poll completed on Wednesday found.

A trade delegation from South Korea visited the UAE as both sides look at expanding diplomatic and business ties.

Top Japanese companies agreed to their largest pay increases in a quarter century at annual labour talks that wrapped up on Wednesday, heeding, at least for now, Prime Minister Fumio Kishida's call for higher wages to offset rising living costs.

Indian Minister for New, Renewable Energy and Power, R K Singh, has praised the country's ongoing cooperation with the UAE in the field of renewable energy.

Google Workspace is taking its AI capabilities to the next level with a new set of generative features that will make the writing process easier than ever before. 

Amazon will showcase the products of 100,000 small and medium enterprises on its UAE store Amazon.ae by 2026. The move supports the D33 agenda, to transform Dubai into one of the world's top ten digital economies.

Facebook-parent Meta Platforms said on Tuesday it would cut 10,000 jobs this year, making it the first Big Tech company to announce a second round of mass layoffs.

Expo City Dubai has launched the first phase of residential developments as part of its journey to become a smart, sustainable, people-centric city of the future.

Microsoft is set to announce a major upgrade to their popular AI ChatGPT, which is expected to be launched on March 16.

Shockwaves from the collapse of Silicon Valley Bank pounded global bank stocks further on Tuesday as assurances from President Joe Biden and other policymakers did little to calm markets and prompted a rethink on the US interest rate outlook.

Dubai World Trade Centre (DWTC) welcomed nearly 2 million visitors last year as it recorded strong performances across its businesses.

ADNOC Gas debuted trading of its shares on the Abu Dhabi Securities Exchange (ADX) on Monday.

Meta Platforms, the parent company of Facebook, is reportedly considering the launch of a decentralised social network similar to Twitter, according to media reports quoting sources familiar with the matter. 

Silicon Valley Bank (SVB) customers will have access to their deposits starting on Monday, U.S. officials said on Sunday, as the federal government announced actions to shore up deposits and stem any broader financial fallout from the sudden collapse of the tech startup-focused lender.

Saudi Arabia's new national airline, unveiled by the Kingdom's Crown Prince Mohammad bin Salman bin Abdulaziz, is expected to add $20 billion to the non-oil GDP growth.

British finance minister Jeremy Hunt said he would use this week's budget plan to remove barriers, including high childcare costs, that are stopping people from working and causing a major problem for employers after the COVID-19 pandemic and Brexit.

Etisalat by e& today announced the implementation of the EUTELSAT QUANTUM satellite solution, becoming the first telco in the country to expand 5G network capabilities over a software-defined satellite.

China maintained its position as the world's largest logistics market for the seventh consecutive year in 2022, the Chinese news agency, Xinhua, reported today.

Dubai-based private school operator GEMS Education has announced a pay hike for teachers.

Americans most want to delete Instagram from their phones, according to a recent analysis of internet search trends by cybersecurity website VPNOverview. 

A Forum promoting investment opportunities between the UAE and Indonesia has convened in Dubai.

Al Ansari Financial Services has announced its intention to float on the Dubai Financial Market (DFM).

The Supreme Council for Financial and Economic Affairs has issued resolutions reconstituting the Board of Directors of Abu Dhabi Investment Authority (ADIA) and Mubadala Investment Company.

Blacklane, the chauffeur hailing service, has picked Dubai to launch the region’s first all-electric fleet of vehicles.

The city of Khorfakkan has won the award for the 'Best Arab Tourist City'. The announcement was made at a ceremony for the Arab Union for Tourist Media as part of the world's largest travel trade show, ITB Berlin in Germany.

Tesla is once again facing scrutiny after reports of steering wheels falling off its 2023 model vehicles while in motion. 

Meta Platform's Instagram was back up for most users after a global outage, the photo-sharing platform said on Thursday, adding that an hours-long technical issue has been resolved.

Expo 2020 Dubai has reaffirmed its commitment to gender equality and women’s empowerment.

Expo 2020 Dubai and the United Nations Global Compact are joining forces to hold a Sustainable Development Goals Business Forum.

More than 2,500 online travel agents, tour operators, hotel groups and airlines have signed on as Authorised Ticket Resellers (ATRs) for Expo 2020 Dubai.

A spectacular line-up of sights, sounds and tastes await visitors at Expo 2020 Dubai, through a series of specially curated itineraries.

Apple on Tuesday launched the iPhone 12 with faster 5G connectivity, which the company hopes will spur a wave of upgrades and keep its sales booming through the end of the year.