Amazon’s founder and CEO has become the third-richest person in the world. The company’s earnings beat analysts’ expectations, and, according to Forbes magazine, Jeff Bezos has become the third richest person in the world. He owns 18% of Amazon’s shares and is estimated to be worth AED239 billion (USD65.3 billion). The 52-year-old came in behind number one Microsoft founder - Bill Gates, and Zara founder Amancio Ortega.
Disney plans to cut 1,000 jobs, WSJ reports
Walt Disney is planning to cut as many as 1,000 positions in the coming weeks, many of which will be made in the company's marketing department, the Wall Street Journal reported on Wednesday, citing sources.
UAE reinforces trade flow stability, supply chain resilience
The UAE’s Minister of Foreign Trade, Dr. Thani bin Ahmed Al Zeyoudi, has chaired a high-level coordination meeting in Dubai, bringing together global shipping leaders and maritime industry representatives to tackle ongoing challenges affecting regional supply chains.
Meta unveils first AI model from costly superintelligence team
Meta Platforms on Wednesday unveiled Muse Spark, the first artificial intelligence model from a costly team it assembled last year to catch up with rivals in the AI race.
UAE, Bahrain central banks announce currency swap agreement
The Central Bank of the United Arab Emirates (CBUAE) and the Central Bank of Bahrain (CBB) have announced the establishment of a currency swap agreement with a nominal value of AED 20 billion (BHD 2 billion) and a tenor of five years.
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