EU examines Microsoft large investment in OpenAI
Brussels, Belgium - The EU, racing to regulate the fast-moving world of artificial intelligence, said on Tuesday it has started a...Business Tech & Media
Instagram boss faces US lawmakers over impact on kids
Instagram's boss faces a grilling Wednesday from US lawmakers after damning press reports based on leaked internal research showed the...The documents leaked by Facebook whistleblower Frances Haugen include research from 2019 that found Instagram makes body image issues worse for one in three teenage girls
Another report, from 2020, revealed that 32 percent of teenage girls said that when they felt bad about their bodies, Instagram made it worse
Dubai Financial Market announces new trading hours from 3 Jan 2022
Dubai Financial Market (DFM) has announced new trading hours from 3 January 2022. The new trading session of five hours...The new trading session of five hours will be between 10 AM and 3 PM from Monday to Friday.
The new trading hours have been set in coordination with local and international market participants, DFM said.
Ras Al Khaimah moves to regulate transporting passengers by luxury vehicles, limousines
Ras Al Khaimah has regulated the activity of transporting passengers by luxury vehicles and limousines in the emirate. Sheikh Saud...Ruler of Ras Al Khaimah Sheikh Saud bin Saqr Al Qasimi approved Resolution no.3 of 2021 which paved the way for this regulation.
The move mandates Ras Al Khaimah Transport Authority to organise the activity of transporting passengers by luxury vehicles and limousines in the emirate
Iraqi fishermen caught in net of water frontiers
Iraqi fishermen at Al-Faw, such as Tareq Ziad, complain of "being harassed" by both Iran and Kuwait.Iraqi fishermen at Al-Faw, such as Tareq Ziad, complain of "being harassed" by both Iran and Kuwait
The head of the fishermen's union in Al-Faw, Badran al-Tamimi, said they have "no support from the (Iraqi) government"
Three laws introduced in UAE after the biggest-ever amendments
The UAE has introduced three new economic laws, with the government saying these laws underwent the largest legislative amendments of...The laws are the Commercial Companies Law, Commercial Registry Law and the Trademarks Law.
Commercial Companies Law abolishes the maximum and minimum percentage of the founders’ contribution to the company’s capital at the time of the public offering
China offers Kuwait help in developing its ports to boost maritime trade
China is willing to assist Kuwait to develop its ports given the significance of such facilities in the ##international maritime...Chinese port official stresses the significance of port facilities in international maritime trade.
Kuwait's imports from China were worth $4.94 billion during 2020, according to the UN database on international trade.
Aramco taps L&T for Saudi facility
Spread over 120,000 square meters of area, the facility which is to construed by L&T aims to create crucial equipment...L&T is to build the region’s first Heavy Wall Pressure Vessels facility at Jubail Industrial City
More than 20 MoUs were signed under the Namaat program of Aramco in September 2021
Tecom to be listed on DFM
It is part of a strategy to help DFM reach the AED3-trillion markTecom is said to have 10 business communities that offer infrastructure, regulations, and a support network to help businesses set up operations
These business communities include Dubai Internet City, Dubai Media City, Dubai Design District, and Dubai Industrial Park
Nestle sells €8.9bn L’Oreal shares
Around 22.26 million shares were sold for €400 each.L'Oreal said in a statement it would cancel the shares, which represent 4 percent of its capital
The French group's shareholders will see their shareholdings increase due to the buyback, L'Oreal said
‘UAE-GCC business as usual after new workweek’
The UAE’s newly-announced working week will not have any negative impact on the UAE and Gulf countries’ business relations, say...The UAE has become the first country in the world to introduce a working week that is shorter than the global five-day week.
The transition to the four-and-a-half-day working week is expected to help enhance work-life balance and social well-being.
