US considering Google breakup following monopoly ruling
The US Department of Justice (DOJ) made recommendations for Google’s search engine business practices on Tuesday, according to US media....Business
GM reports US sales dip, that of EVs grew
The big Detroit automaker reported 659,601 US sales during the period.Company News Business
ADIB 2023 net profit $1.4bn
The bank achieved a Return on Equity of 27.1 percent.ADIB achieved record-breaking performance in 2023, with significant growth across all its businesses.
Enhancing its digital presence, the bank saw a rise in actively digital customers through improvements to its mobile app.
Elon Musk files lawsuit against OpenAI over mission ‘betrayal’
Paris, France - Elon Musk has launched a legal case against OpenAI, the AI firm he helped to set up in...The tycoon, who left OpenAI in 2018, argued in documents filed in a San Francisco court late on Thursday that the firm was always intended as a non-profit entity
But he said recent boardroom changes meant OpenAI was now effectively a subsidiary of software giant Microsoft, arguing that this was breach of contract
Energy-related global CO2 emissions hit record levels in 2023, says IEA
PARIS, FRANCE – Energy-related carbon dioxide emissions rose to a record level in 2023, but the growth slowed from previous years...CO2 emissions from energy rose by 1.1 percent in 2023, increasing by 410 million tonnes to a record 37.4 billion tonnes.
Without the drought and water shortfalls, global carbon emissions from power generation alone would have fallen last year.
Gold hovers near a month high on slowing US inflation
ABU DHABI, UAE- Gold prices hovered near a month high on Friday after data suggested easing US price pressures, while...Gold rose after data suggested easing US price pressures.
Traders awaited remarks from US Federal Reserve officials.
UAE real estate sector transforms with cross-border payments revolution
Dubai, UAE - Leading financial institutions are spearheading a transformative wave in the UAE real estate sector through the introduction...The initiative is poised to enhance accessibility and efficiency for global investors seeking to engage in property investment within the UAE
Traditionally, the investing in UAE real estate from overseas has been encumbered by complexities associated with cross-border transactions
Emaar unveils new projects
The new projects are estimated to value US$26.14 billion.The first development valued at $15 billion is poised to set a new standard in premium high-end living
The second valued at $11.16bn is designed to house wellness facilities, a new standard in luxury hospitality
ADNOC buys 25% stake in OMV
The OMV is headquartered and listed in Vienna, Austria.The transaction accelerates delivery of ADNOC’s global chemicals growth strategy, and reinforces its status as a responsible, long-term partner and growth-oriented investor
Österreichische Beteiligungs AG (ÖBAG), an Austrian independent holding company, now owns 31.5 percent, with the remaining share capital in free float
Digital transfers reshape MENA’s financial landscape
The region sees a robust future for digital cross-border transfers in the Middle East, marked by innovation and a strong...The region sees a robust future for digital cross-border transfers in the Middle East, marked by innovation and a strong commitment to financial inclusion, says a report.
COVID-19 expanded the diaspora's role in digital payments, boosting prepaid services and accelerating the shift from cash to digital via cryptocurrencies and blockchain.
WTO ministers struggle to forge deals as talks go into overtime
ABU DHABI, UAE – World trade ministers were locked in disagreement Thursday on fisheries subsidies, agriculture and digital customs duties as...The meeting opened with disagreements between the body's 164 member states on key issues that dominated the agenda of the talks.
They include fisheries subsidies, agriculture and a moratorium on customs duties for digital transactions.
Major stock markets trade mixed as US inflation data awaited
London, United Kingdom - Major stock markets traded mixed Thursday before the release of US inflation data that could present a...Shares in Air France-KLM slumped nine percent after annual profit fell short of expectations as it fell into a final-quarter loss
Yen jumped on rising expectations of a hike to Japanese interest rates, as other central banks look to reduce borrowing costs