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Etihad reports record Q1 profit

Total revenue increased by $269 million in the same period.

Aramco Q1 profit down 14.5%

Despite lower profit, it will pay $31bn in dividends to Saudi government.

IHC Q1 net profit $2.17bn

The company launches Share Buyback Programme

Amazon triples quarterly profit

The company's cloud, ads, and retail businesses thrive.

McDonald’s profits up 7%

The quarterly profits increased despite weak Middle East sales.
  • X users report global outage: monitoring site

    With no way to post on X, social media users published updates about the outage on rivals including Facebook, Threads, and Reddit. The platform resumed service for users in multiple countries shortly after 0640 GMT. At the outage's peak, Downdetector indicated that about 67,000 US users reported problems.
  • White House deletes tweet after Twitter users intervene

    Elon Musk, the world's richest person, who took ownership of Twitter last week, hailed the correction saying the feature that produced it was awesome."Our goal is to make Twitter the most accurate source of information on Earth, without regard to political affiliation," Musk tweeted.
  • Restoring banned Twitter accounts may take some weeks: Elon Musk

    Twitter users have been watching closely to see whether Musk will reinstate Trump, banned for inciting last year's attack on the Capitol by a mob seeking to overturn the results of the 2020 election, and other de-platformed users.
  • Musk seeks to soothe critics with Twitter content panel

    The deal drew contrasting reactions, with former US president Donald Trump cheering the change of leadership on a platform that had banned him, while activists warned of a surge in harassment and misinformation. European politicians were quick to signal to Musk that the continent had regulations for social media companies.
  • Elon Musk takes control of Twitter, fires executives

    Musk wasted no time sacking chief executive Parag Agrawal, as well as the company's chief financial officer and its head of safety, the Washington Post and CNBC reported citing unnamed sources. Agrawal previously went to court to hold the Tesla chief to the terms of a deal he had tried...
  • Seeking ‘healthy’ debate, Musk nears Twitter deal finish line

    New York, United States---Closing in on his Twitter megadeal, Elon Musk said Thursday his goal is to enable "healthy" debate of ideas and counter the tendency of social media to splinter into partisan "echo chambers." In a message meant to reassure jittery Twitter advertisers on the eve of a court-imposed...
  • Wary of online theft, most MENA shoppers still prefer in-store buying

    According to a TRENDS poll, fear of being robbed online by fraudsters prowling on the web is keeping many MENA buyers from making their purchase online.
  • Big staff cuts likely at Twitter: report

    Twitter had filed a lawsuit to hold Musk to the terms of the takeover deal he inked in April, even though Musk tried to get out of it. A US judge recently suspended litigation in the saga after Musk expressed a change of heart, giving the parties until October 28...
  • Tesla profit jumps; revenues miss estimates

    Tesla watchers are expecting a strong fourth quarter.
  • Elon Musk says “excited” about taking over Twitter

    Having spent months trying to break free of the $44 billion buyout contract, Elon Musk now says he is "excited" about taking over Twitter. The social media giant had filed a lawsuit to hold Musk to the terms of the deal he inked in April after the Tesla chief said...
  • Musk jokes new perfume launch to fund Twitter purchase

    Musk is expected to complete a $44-billion takeover of Twitter by the end of the month. If he fails to do so, a trial for a breach-of-contract suit in the on-again-off-again deal will take place in November.
  • Wall Street stocks shine amid hopes of US policy pivot

    US equities posted gains for a second straight session amid hopes of a US monetary policy pivot, after a bruising September ended another losing quarter for Wall Street. Twitter surged on the revived chance of Elon Musk's takeover as the tech-rich Nasdaq Composite Index climbed 2.8 percent.
  • GCC investors park wealth in real estate: poll

    A TRENDS poll on Twitter revealed that 43.9 percent of voters preferred real estate, followed by technology at 37.4 percent.
  • Musk seeks to lift regulator ‘muzzle’ on Tesla tweets

    The SEC also charged Musk with fraud and ordered him to step down as chair of Tesla's board of directors, pay a $20 million fine and, after another controversial tweet in early 2019, demanded his tweets directly related to business of the company be vetted by a lawyer before posting.
  • Pentagon denies link to fake social media accounts

    After a Washington Post report revealed that Facebook and Twitter have shut down a number of fake accounts suspected to be created by the US military, promoting pro-West disinformation, the Pentagon has begun a review of its psychological warfare operations while denying that the military was behind fake accounts.
  • Attacks using Log4j exploit, Botnets are on the rise

    While attacks using the Log4j exploit vulnerability can be effective for state actors focused on specific politically targeted websites, the most dangerous use of the exploit is when botnets perform large scale scanning for vulnerable sites to create crypto mining and DDoS platforms, he adds.
  • Twitter ex-security chief in Congress as shareholders back Musk buyout

    Nearly 99 percent of the votes cast by stock owners endorsed the agreement with Musk to sell him the tech firm for $54.20 per share, Twitter said in a release.Twitter added that it was ready to consummate the merger agreement immediately, and no later than September 15 as per a...
  • Google allows Parler app back into Play Store

    Google pulled the Parler app from its online marketplace just days after the deadly attack on the seat of US government on January 6, 2021, saying it had allowed "egregious content" that could incite more violence. Parler had become a haven for far-right personalities who say they have been censored...
  • Twitter starts trial of edit option after months of speculation

    The trial of "Edit Tweet" will begin with internal employees, then be expanded out to the platform's "Twitter Blue" subscription population, the company said. Under the revision being studied, users could edit a tweet "a few times" in the 30 minutes after the initial posting, in ways that transparently note...
  • Musk subpoenas Twitter whistleblower in new twist to court battle

    According to court documents made public on Monday, Musk's attorneys served Zatko with a subpoena Saturday demanding he share any documents or messages regarding the impact of spam and false accounts on Twitter's activity, dating back to January 2019.
  • Twitter failed to safeguard users’ personal data, claims ex official

    Twitter misled users and federal regulators about glaring weaknesses in its ability to protect personal data, the platform's former security chief claimed in whistleblower testimony likely to impact the company's bitter legal battle over Elon Musk's takeover bid. In a complaint filed with the US Securities and Exchange Commission and...
  • Saudi business tax payers asked to submit July declaration

    The Zakat, Tax and Customs Authority has called on taxpayers from the business sector subject to value added tax (VAT) to submit their tax declaration for July, no later than August 31. The Authority has urged business sector taxpayers to promptly submit their tax declaration in order to avoid a...
  • Elon Musk sells about $7bn worth of Tesla shares

    Amid a high-stakes court battle with Twitter over a $44 billion buyout deal, Elon Musk has sold nearly $7 billion worth of Tesla shares, according to legal filings published Tuesday.
  • Elon Musk accuses Twitter of fraud as court battle heats up

    The court battle between Elon Musk and Twitter heats up as the billionaire Tesla boss accuses it of fraud, alleging the social media platform misled him about key aspects of its business before he agreed to a $44 billion buyout. The entrepreneur said he has been deceived by the company.
  • Elon Musk files counter lawsuit against Twitter

    A judge has ordered a five-day trial over Twitter's lawsuit against Musk to begin on October 17.
  • Twitter takes a dig at Elon Musk for bad results

    Twitter blamed disappointing results Friday on "headwinds," including the uncertainty imposed on the company by Elon Musk's chaotic buyout bid. The firm is locked in a legal battle with the mercurial Tesla boss over his effort to walk away from a $44 billion deal to purchase the platform, leaving the...
  • Twitter Q2 revenue at $1.18bn

    Twitter reported disappointing results on Friday, a miss that the social network attributed to "headwinds" including the uncertainty related to Elon Musk's buyout bid.
  • Rattled and uncertain of its future, Twitter stumbles on

    Just days before the first court hearing in Twitter's lawsuit seeking to force the Tesla boss to close the $44 billion deal, the firm is stuck in limbo.
  • Twitter down for short period in US, Europe, restored later

    Twitter experienced a widespread but seemingly brief outage in the United States and parts of Europe on Thursday. The Downdetector website showed that outage reports spiked in the United States around 1200 GMT, while users reported service interruptions in France and elsewhere.
  • Twitter’s stock climbs up after hedge fund bets against Musk

    Twitter shares jumped Wednesday after a hedge fund revealed it had taken a stake in the firm based on its "strong case" against Elon Musk for moving to back out of his $44 billion buyout bid.
  • Twitter lawsuit accuses Elon Musk of contract breach

    Twitter on Tuesday sued Elon Musk for breaching the $44 billion contract he signed to buy the tech firm, calling his exit strategy "a model of hypocrisy," court documents showed. The suit filed in the US state of Delaware urges the court to order the billionaire to complete his deal...
  • Twitter-Musk affair heads for bitter end

    Elon Musk's pursuit of Twitter was a melodrama from beginning to end -- a volatile courtship between a mercurial billionaire and the massively influential social media platform.
  • Elon Musk deal to buy Twitter in danger: report

    Twitter shares slid late Thursday after a Washington Post report that Elon Musk's $44 billion deal to buy the social media giant is in danger. The world's richest man has previously expressed misgivings and even implied he could walk away from the deal over concerns about what he believes are...
  • Twitter files suit in Indian court to challenge orders to block content

    Twitter is challenging the Indian government's orders to block content on its social media site in court, local media reported Wednesday citing legal documents. The suit is the latest showdown between Twitter and Indian authorities, which have been accused of muzzling criticism both on and offline. In the case filed...
  • Twitter deal still in limbo due to fake accounts: Elon Musk

    Business magnate Elon Musk said Tuesday that his $44 billion move to take over Twitter remained held up by "very significant" questions about the number of fake users on the social network. Musk was reluctant to talk about the deal when asked at the Qatar Economic Forum, saying it was...
  • Musk sued for $258 bn over dogecoin promotion

    An investor in dogecoin, originally created as a joke but whose value increased and fell as it was promoted by Elon Musk, filed a $258 billion lawsuit Thursday against the billionaire and his companies Tesla and SpaceX. Keith Johnson, who says he lost money after investing in dogecoin, described himself as...
  • Twitter agrees to share data with Musk to end standoff

    Twitter will yield to Elon Musk's demand for internal data central to a standoff over his troubled $44 billion bid to buy the platform, US media reported on Wednesday. The news comes just days after the Tesla chief threatened to back out of his deal to purchase Twitter.
  • A campaign in US to stop Musk buying Twitter

    Twitter said that the deal for Musk to acquire the company was a step closer to being sealed with the passing of a deadline.
  • Filing says Elon Musk to borrow less for Twitter bid

    Elon Musk notified US regulators on Wednesday that he will rely less on loans in his bid to buy Twitter, as he and partners put $33.5 billion into the deal. Musk has been courting major Twitter investors in the hope of getting them to partner with him in taking the...
  • Musk says no Twitter deal without clarity on spam accounts

    Billionaire Elon Musk said Tuesday his bid to buy Twitter won't proceed unless he gets proof of the number of spam accounts plaguing the platform, adding more uncertainty to his roller-coaster pursuit of the social media giant. Hours after Musk's early morning tweet over bots, Twitter insisted the deal push...
  • Tech titans curb hiring in a ‘challenging macro environment’

    From e-commerce colossus Amazon to social networking star Facebook, US tech firms that once grew with abandon have reined in hiring to endure tumultuous times. Internet giants that saw business boom during the pandemic have taken a hit from inflation, war, supply-line trouble and people returning to pre-Covid lifestyles. Corporate...
  • Elon Musk puts his bid to buy Twitter ‘on hold’

    Elon Musk said he is putting his bid to buy Twitter on hold, a few weeks after agreeing to take the company private in a $44 billion deal. “Twitter deal temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5% of users,” Musk said.
  • Twitter executives exit, hirings halt

    Kayvon Beykpour, a general manager, said he was ousted from the company.
  • Prince Alwaleed bin Talal now sees Musk as ‘excellent leader’ for Twitter

    Saudi investor Prince Alwaleed bin Talal, who initially spurned Elon Musk’s bid for Twitter, agreed to roll his $1.89 billion stake into the deal rather than cashing out, saying Tesla chief will be an "excellent leader" for the social media company. On April 14, Alwaleed opposed Musk’s buyout bid saying...
  • Activists urge ad boycott if Musk muddies Twitter water

    The groups urged advertisers to require that Twitter maintain its content moderation policies as a non-negotiable term of doing business with the platform.
  • Musk offloads $4 billion in Tesla shares after Twitter deal

    Tesla chief Elon Musk sold about $4 billion worth of shares in the electric carmaker in the days after Twitter's board agreed to his $44 billion takeover of the social media platform. Musk sold 4.4 million Tesla shares on Tuesday and Wednesday—according to filings Thursday with the Securities and Exchange...
  • Can Twitter become more profitable under Elon Musk?

    Listed on the New York Stock Exchange for just under nine years, Twitter has posted a net loss every year, except 2018 and 2019 when it made a profit of just over $1 billion.
  • Free speech or hate speech? Fears for Musk’s Twitter

    Elon Musk describes himself as a "free-speech absolutist," leaving rights groups fearful that Twitter will provide a forum for hate speech and disinformation under his ownership. The world's richest man has signaled that, following his $44 billion takeover, he intends to reform what he sees as over-zealous policing of tweets.
  • Alwaleed blinks as Musk buys Twitter

    Prince Alwaleed is one of the wealthiest businessmen in the Middle East, but Elon Musk is the richest person in the world.
  • Musk’s world and we just live in it

    Buying Twitter is just the latest conquest for Musk, who has revolutionized the car industry, sent his own rocket to space and built the world's biggest fortune.
  • Twitter shares rise on reports it will accept Musk takeover bid

    The deal, which media outlets including The Wall Street Journal reported could be announced later in the day, would put the Tesla boss in charge of the influential social media site.