Facebook's record fine has been approved by US regulators.
The social media platform was told to pay USD$ 5 billion (AED 18.2 billion) to settle an investigation into data privacy violations.
The US Federal Trade Commission (FTC) approved the historic fine in a 3-2 vote.
The FTC has been looking into allegations that consultanc0y firm Cambridge Analytica illegally obtained the data of close to 90 million Facebook users.
UAE, Uzbekistan sign digital infrastructure deal
The Ministry of Investment of the UAE and the Ministry of Digital Technologies of the Republic of Uzbekistan have signed an investment memorandum, establishing a framework for investment cooperation in digital infrastructure with a focus on data centre and artificial intelligence projects in Uzbekistan.
TECOM Group profit increases 15% on record high occupancy levels
Dubai's TECOM Group has announced a 15 per cent year-on year (YoY) growth in net profit to AED 293 million for the three month period ended March 31, 2024.
Sony and Apollo submit $26 billion Paramount offer, WSJ reports
Sony Pictures Entertainment (SPE) and Apollo Global Management APO.N have made a $26 billion cash offer for Paramount Global, the Wall Street Journal reported.
UAE, Iran expand cooperation in additional sectors
The UAE and Iran have explored ways to expand economic cooperation in sectors such as tourism, transport, entrepreneurship and renewable energy.
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