Business News

Owners of holiday homes in Dubai will now be required to display a QR code on the main entrances of their properties.

Singapore's state investor, Temasek Holdings, announced on Monday that it has reduced compensation for the team responsible for recommending its investment in the now-bankrupt FTX cryptocurrency exchange, as well as its senior management team.

Suhail bin Mohammed Al Mazrouei, Minister of Energy and Infrastructure, has headed a UAE delegation to the Development Road Conference, which launched in Iraq under the patronage of Iraqi Prime Minister, Mohamed Shiaa Al-Sudani.

Dubai Customs has equipped the Jebel Ali and TECOM Customs Centre with a first-of-its-kind advanced system in the world for inspecting heavy and light vehicles, equipment, and yachts through X-ray scanning.

US President Joe Biden and top congressional Republican Kevin McCarthy reached a tentative deal to suspend the federal government's $31.4 trillion debt ceiling on Saturday evening, ending a months-long stalemate.

Iraq launched a $17 billion (AED 62.43 billion) project to link a major commodities port on its southern coast by rail and roads to the border with Turkey to transform the country's economy after decades of war and crisis.

China and South Korea have agreed to strengthen dialogue and cooperation on semiconductor industry supply chains amid broader global concerns over chip supplies, sanctions and national security.

Arabsat, one of the leading satellite service providers in the Arab world, launched Badr-8 from Cape Canaveral Space Force Station, Florida, after four days of delay due to the thick cloud cover.

Global investment in clean energy is on course to rise to USD 1.7 trillion (AED 6.2 trillion) in 2023, with solar set to eclipse oil production for the first time.

Dubai-based billionaire businessman Micky Jagtiani, who founded the Landmark Group, died on Friday. He was 70.

Investment in clean energy will extend its lead over spending on fossil fuels in 2023, the International Energy Agency (IEA) said, with solar projects expected to outpace outlays on oil production for the first time.

The UAE's Ministry of Finance has published new guidelines to help businesses transition into post-implementation of corporate tax.

Neuralink, the brain-chip firm founded by Elon Musk, has announced that it has received approval from the US Food and Drugs Administration (FDA) to conduct its first tests on humans.

Group of Seven (G7) nation officials will meet next week to consider problems posed by generative artificial intelligence (AI) tools like ChatGPT, Japan has said.

Burjeel Holdings has launched a new global initiative in partnership with the University of Oxford’s Saïd Business School to help address the climate crisis.

OpenAI CEO Sam Altman has expressed the possibility his company may cease operations in the European Union if it fails to comply with the provisions of forthcoming artificial intelligence (AI) legislation.

Apple's upcoming iOS 17 update is set to introduce a new lock screen feature that could transform iPhones into smart displays when placed horizontally, according to a report in Bloomberg.

ADNOC Drilling Company PJSC (ADNOC Drilling) has announced it has signed a $75 million agreement for the purchase of six newbuild hybrid power land rigs.

The UAE has joined the US, Japan and South Korea to commit up to $275 million towards nuclear energy in Romania.

Microsoft has revealed its latest development in artificial intelligence (AI) technology with the introduction of Windows Copilot, a chatbot that will be integrated into the home screen of computers running Windows 11.

Bernard Arnault, the world's richest person, experienced a significant decrease in his fortune as concerns over a softening US economy dampened demand for luxury goods.

Australian Prime Minister Anthony Albanese met Narendra Modi, his Indian counterpart, in Sydney on Wednesday to discuss regional security and economic ties and signed a migration deal to boost Indian student and business travel to Australia.

Microsoft on Tuesday started making available to users a host of AI upgrades, including to ChatGPT, its search engine Bing as well as to cloud services.

Three new clauses related to corporate tax have been announced by the UAE Ministry of Finance, clarifying exemptions on private pensions, social security and participation, and accountancy methods.

The UAE and Malaysia are set to start discussions on establishing a Comprehensive Economic Partnership Agreement (CEPA) between the two countries.

In a bid to enhance user experience, WhatsApp, the messaging platform owned by Meta, is rolling out a new update that will allow users to edit sent messages.

President Joe Biden and US House Speaker Kevin McCarthy could not reach an agreement on Monday on how to raise the US government's $31.4 trillion debt ceiling with just 10 days before a possible default that could sink the US economy, but have vowed to keep talking.

Meta was hit with a record 1.2 billion euro ($1.3 billion) fine by its lead European Union privacy regulator over its handling of user information and given five months to stop transferring users' data to the United States.

Linda Yaccarino, the newly appointed CEO of Twitter, reacted to reports that Instagram is diligently working on a text-based app.

Meta Platform Inc's Instagram was back up for most users, the company said on Sunday, after a technical issue that disrupted services to thousands of people had been resolved.

Leaders of the Group of Seven (G7) nations on Saturday called for the development and adoption of international technical standards for trustworthy artificial intelligence (AI) as lawmakers of the rich countries focus on the new technology.

The Group of Seven (G7) nations on Saturday reaffirmed their commitment to a highly decarbonised road sector by 2030 and committed to the goal of achieving net-zero emissions on roads by 2050.

A team led by Jeff Bezos' Blue Origin won a coveted $3.4 billion (AED 12.5 billion) NASA contract to build a spacecraft to fly astronauts to and from the moon's surface, cryptically adding that it was "to stay".

Group of Seven leaders agreed to a new initiative to counter economic coercion and pledged action to ensure that actors attempting to weaponise economic dependence would fail and face consequences,

ChatGPT, the widely popular conversational AI model, is now available as a free app for iOS users. 

Etihad Airways has achieved a 26 per cent reduction in CO2 emission per Revenue Tonne Kilometer for 2022 against the 2019 baseline.

Five TikTok users in Montana, who create content posted on the short-video app, filed a lawsuit in federal court seeking to block the state's new ban on the Chinese-owned platform.

Dubai has been ranked the best city brand in the Middle East and 9th globally, according to the inaugural Brand Finance City Index.

A majority of Americans who have used Twitter in the past year have reported taking breaks from the platform during that time, a recent survey by Pew Research Centre showed.

Abu Dhabi Future Energy Company (Masdar) nearly doubled its clean energy capacity in just two years and is on track to be one of the world’s largest renewable energy companies by 2030, the company's latest Sustainability Report has said.

Amazon Web Services (AWS), the cloud computing division of Amazon.com, said on Thursday it plans to invest INR 1.06 trillion (AED 47 billion) in India by 2030, doubling down on its past investments to cater to an ever-growing demand.

The UAE's Ministry of Finance has clarified that individuals conducting business activities will be subject to corporate tax only if their combined turnover exceeds AED 1 million in a calendar year.

Flydubai and Air Canada have a new partnership that will give more options to travellers flying between Canada, the Middle East, East Africa, Indian Subcontinent and Southern Asia.

Srichand Hinduja, the Indian-born billionaire leader of a global business empire and the patriarch of Britain's wealthiest family, has died aged 87.

The tenants of The Pointe on Dubai's Palm Jumeirah have been served eviction notices as the venue will soon be redeveloped.

Excessive battery drainage issues have plagued a number of Pixel users in the wake of a recent Google app update, prompting numerous complaints and concerns.

Tesla CEO Elon Musk asserted in a media interview that he played a pivotal role in the creation of OpenAI, claiming he is "the reason that OpenAI exists".

Sanctions have been imposed on eight banks operating in the UAE for violating the Central Bank's rules and regulations.

Former Audi boss Rupert Stadler accepted his role in committing fraud by negligence in the diesel emissions scandal, according to a statement made in German court on Tuesday.

ADNOC Logistics & Services, a global energy maritime logistics leader, has set a share price of between AED 1.99 to AED 2.01 on the opening of the subscription period for its IPO.

New Vodafone boss Margherita Della Valle said on Tuesday she would cut 11,000 jobs over three years to simplify the telecoms group and regain its competitive edge as it forecast a €1.5 billion drop in free cash flow this year.

A senior IT worker, who has been on sick leave since 2008, has lost his legal battle against employer IBM for not giving him a pay rise for the last 15 years.

WhatsApp has launched a new feature named 'Chat Lock'. The new function adds an extra layer of security, allowing users to secure their personal and sensitive conversations further.

Representatives of leading organisations and government leaders are set to convene in Abu Dhabi to discuss multi-billion dollar investment opportunities and partnerships.

France is poised to win record foreign investment pledges when President Emmanuel Macron receives global business leaders, including Tesla's Elon Musk, on Monday at the annual Choose France summit in Versailles.

The supply dormancy of Bitcoin, the leading cryptocurrency, has reached a historic peak, according to data released by on-chain analytics firm Glassnode.

In a significant development in the ongoing race to regulate artificial intelligence (AI), a key committee of lawmakers in the European Parliament has approved a groundbreaking AI regulation, bringing it one step closer to becoming law.

Dubai has retained its No. 1 spot globally for attracting Greenfield FDI projects for the second year in a row in 2022 with 89.5 per cent year-on-year growth and FDI capital inflows of AED47 billion.

Public Joint Stock companies and private firms in the UAE can start registering for UAE's Corporate Tax on Monday.

Newly appointed Twitter CEO Linda Yaccarino said in a tweet that she has been inspired by owner Elon Musk's vision to create a brighter future and is excited to help to transform the social media platform.

DFM-listed company Dubai Investments has announced a 55% percent increase in its Q1 2023 net profit.

Former NBCUniversal advertising chief Linda Yaccarino will become Twitter's new CEO, current chief executive Elon Musk said on Friday in a tweet.

In a bid to reduce paper waste and offer travellers speedy check-in, Emirates will swap paper boarding passes for digital ones.

Dubai's toll operator Salik posted its highest quarterly toll-usage revenue since the gates were first introduced in 2007, bringing in AED 454 million for the first three months of 2023.

Dubai's Emirates Airline has announced a generous profit-sharing plan for employees, which works out to 24 weeks worth of salary.

Elon Musk said on Thursday he has found a new chief executive for Twitter, but did not name who that person was.

The trade exchange between the UAE and France grew by 16.8 per cent in 2022, reaching AED 29.4 billion, compared to AED 25.2 billion in 2021.

Emirates has announced its commitment to set a $200 million to fund research and development projects focused on reducing the impact of fossil fuels in commercial aviation.

The UAE has dominated the global competitiveness rankings for 2023 in five indicators.

The Emirates Group has reported its most profitable year ever, recording record revenue on the back of strong demand across its businesses.

Starting June 30, Air Arabia will launch direct flights between Sharjah and Thailand's capital city of Bangkok.

Microsoft to hold off on salary increases for full-time employees, CEO Satya Nadella announced in an email to staffers on Wednesday.

Disney's flagship streaming service, Disney+, lost 4 million subscribers in the first quarter of 2023 driven largely by its Hotstar service in Asia, which lost streaming rights to Indian cricket matches last year.

Alphabet Inc's Google is rolling out more artificial intelligence for its core search product, hoping to create some of the same consumer excitement generated by Microsoft Corp's update to rival search engine Bing in recent months.

The average number of registered employees on the UAE Wages Protection System (UAEWPS) increased to AED 5.2 million in 2022, a rise from AED 4.2 million in 2021.

The Central Bank of the UAE (CBUAE) has said the country's gross domestic product (GDP) is expected to have grown by nearly 7.6 per cent in 2022.

Abu Dhabi National Oil Company (ADNOC) has revealed its intention to list 15 per cent of its logistics and shipping subsidiary through 1.1 billion shares on the Abu Dhabi Securities Exchange.

Twitter Chief Executive Elon Musk on Tuesday revealed details about new features including adding calls and encrypted messaging coming to the platform.

Ishan Wahi, a former Coinbase Global product manager, was sentenced on Tuesday to two years in prison in what US prosecutors have called the first insider trading case involving cryptocurrency.

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.