Business News

An Australian law giving the government power to make internet giants Facebook owner Meta Platforms META.O and Alphabet Inc's GOOGL.O Google negotiate content supply deals with media outlets has largely worked, a government report said.

Silicon Valley leaders welcomed Elon Musk's management of Twitter, with Netflix co-founder Reed Hastings going so far as to call the billionaire "the bravest, most creative person on the planet."

The Investment Corporation of Dubai (ICD) generated record revenues of AED 121.1 billion and net profits of AED 14.8 billion during H1 2022, dwarfing last year’s first-half earnings.

Starting from the end of February, employees have been asked by the parent of social media app Snapchat to be in office four days a week

Singapore Airlines (SIA) said on Tuesday it would emerge as a 25.1 per cent owner of Air India as part of a deal that would merge its Vistara full-service airline joint venture with Tata Sons into India's national carrier.

Ireland's data privacy regulator slapped a $277 million fine on Meta, bringing to nearly $1 billion the amount it has fined the parent company of Facebook for failing to protect users' data.

Elon Musk accused Apple Inc of threatening to block Twitter Inc from its app store without saying why in a series of tweets on Monday that also said the iPhone maker had stopped advertising on the social media platform.

UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan, today presided over the annual meeting of the Abu Dhabi National Oil Company (ADNOC) Board of Directors, in his capacity as its Chairman.

Abu Dhabi Airports' passenger traffic for the third quarter of 2022 hit 4.7 million passengers, a rise of 250 per cent compared to 1.3 million to the same time the previous year.

Apple Inc. partner Hon Hai Precision Industry Co. (Foxconn) is offering bonuses of up to $1,800 to existing workers at its Zhengzhou plant, hoping to keep the staff levels it needs for running the world’s biggest iPhone factory.

Carmaker Jaguar Land Rover (JLR) is reducing output at the Solihull and Halewood factories, due to ongoing problems obtaining enough computer chips for new vehicles.

Twitter Inc Chief Executive Elon Musk says new user signups to the social media platform are at an "all-time high", as he struggles with a mass exodus of advertisers and users fleeing to other platforms over concerns about verification and hate speech.

The Biden administration has banned approvals of new telecommunications equipment from China's Huawei Technologies and ZTE citing "an unacceptable risk" to US national security.

Amazon will shut down a food-delivery business it was testing in India, the e-commerce giant said on Friday.

Workers at Amazon sites across the globe, including in the United States, Germany and France, were expected to go on strike on Black Friday, targeting the online retailer on one of the busiest shopping days of the year with calls for better pay.

The Federal District-based consumer protection regulator in Brazil has seized hundreds of iPhones from retail stores across the country.

Tesla Inc is recalling more than 80,000 China-made and imported cars produced from as early as 2013, for software and seat belt issues, a statement by the Chinese market regulator revealed on Friday.

The UK government is considering rolling out the more advanced scanners by mid-2024, although a final decision has yet to be made.

Nintendo says Pokemon Scarlet and Violet have sold a record-setting 10 million units in just three days since its release on November 18.

The company tasked with recovering assets of the failed cryptocurrency exchange FTX says it has managed to recover more than $740 million so far.

Apple's major supplier Foxconn said on Thursday a "technical error" occurred when hiring new recruits at a COVID-hit iPhone factory in China and apologised to workers after the company was rocked by fresh labour unrest.

Hundreds of workers joined protests at Foxconn's flagship iPhone plant in China, with some men smashing surveillance cameras and windows, footage uploaded on social media showed.

Manchester United said on Tuesday it was commencing a process to explore strategic alternatives, including a new investment or a potential sale, 17 years after the American Glazer family bought the English Premier League soccer club.

Twitter's new owner Elon Musk said the social media company is holding off the relaunch of its blue check subscription service, a delay from his initial tentative timeline to bring back the service on the platform.

Dubai International raised its passenger forecast for this year by nearly two million to 64.3 million people after a strong pick up in business in the third quarter from the same period last year.

ADNOC Drilling Company has announced the move to acquire an additional three high-specification offshore jack-up drilling "rigs".

Bob Iger is returning to Walt Disney Co as chief executive less than a year after he retired, a surprise comeback that coincides with the entertainment company's attempt to boost investor confidence and profits at its streaming media unit.

The UAE's Federal Tax Authority (FTA) urged eligible taxpayers to apply for the re-determination of administrative penalties on taxes ahead of the December 31 deadline.

COP27 climate talks dragged into the weekend after negotiators failed to agree on a final deal at the close on Friday, and African activists tried to hold on to dimming hopes that the event could bring meaningful changes to their continent.

US Special Climate Envoy John Kerry tested positive for COVID-19 in the final hours of the COP27 climate talks in Egypt, the State Department said on Friday, as tough negotiations for a final deal headed into overtime.

A homeowner in New Zealand is offering a free Tesla to whoever buys his five-bedroom house in Auckland.

WhatsApp and Messenger would drive the company's next wave of sales growth, Meta Platforms Inc Chief Executive Mark Zuckerberg told employees, as he sought to assuage concerns about Meta's finances after its first mass layoffs.

Hundreds of Twitter employees are estimated to be leaving the beleaguered social media company following an ultimatum from new owner Elon Musk that staffers sign up for "long hours at high intensity" or leave.

Abu Dhabi Crypto Hub has been launched at Abu Dhabi Finance Week.

The airline has taken a major step towards decarbonising flights through reducing its carbon emissions.

Elon Musk said on Wednesday he expected to reduce his time at Twitter and eventually find a new leader to run the social media company, adding that he hoped to complete an organizational restructuring this week.

The most sought-after man in the cryptocurrency world says the industry is resilient. 

Dubai Financial Market (DFM) today welcomed the successful listing of Emirates Central Cooling Systems Corporation (Empower), the world’s largest district cooling services provider.

TECOM Group has announced shareholder approval of the proposed interim dividend payment of AED 200 million (4.0 fils per share) following its first General Assembly Meeting since listing on the Dubai Financial Market on July 5.

Measures are being put in place at Dubai International Airport to help ease transit travel for football fans ahead of the FIFA World Cup in Qatar.

Starting 2023, all international passengers flying on Emirates Airline will be able to speed up their airport experience in Dubai if "they consent to the use of biometric data", the carrier announced.

The US Transportation Department said Monday that six airlines were slapped with $7.25 million in penalties and agreed to issue $622 million in passenger refunds as the agency vows to aggressively enforce consumer protections.

People will no longer be able to order food via the Zomato UAE app from the end of the month.

The UAE will launch the EmaraTax online platform on December 5, with the migration to the new system commencing on November 30.

British finance minister Jeremy Hunt said he will have to raise taxes in next week's budget plan in order to fix the public finances and soften a potentially long recession, a newspaper quoted him as saying.

A few countries have resisted mentioning a global goal of limiting warming to 1.5 degrees Celsius in the official text of the COP27 summit in Egypt, said US Special Climate Envoy John Kerry at the conference on Saturday.

Alibaba Group opted not to disclose the final sales tally of its annual Singles Day shopping festival for the first time since it started the event in 2009, saying only that results were in line with last year.

Collapsed crypto exchange FTX said it was moving funds into offline storage following a series of "unauthorised transactions", with analysts saying millions of dollars worth of assets had been withdrawn from the platform.

Further details on the bankruptcy of crypto exchange platform FTX emerged on Saturday, with peers and partners distancing themselves from the firm, as at least a billion dollars of customer funds on the exchange had vanished.

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.