Business

Google, a subsidiary of Alphabet, has announced the launch of its new chatbot tool, "Bard", which is set to compete with the popular AI language model, ChatGPT.

Boeing expects to cut about 2,000 white-collar jobs this year in finance and human resources through a combination of attrition and layoffs, the US planemaker confirmed Monday.

The UAE's foreign trade exceeded AED 2.2 trillion in 2022, up 17 per cent year-on-year.

The sell-off in India's Adani Group's seven listed companies, where more than $110 billion in market value has already evaporated, continued on Monday as a US short-seller's report critical of the group's finances now led to credit warnings.

Dubai's recent decision to enable tenants to pay rent via a direct debt system will make it easier for landlords to get paid.

Apple Inc. CEO Tim Cook has hinted that consumers may be willing to pay more for high-end iPhones in the future, hinting at the possibility that the company may be releasing even more upscale models.

His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, has unveiled that the city has registered one of the world's highest hotel occupancy rates at 14.36 million international visitors in 2022.

A U.S. jury has found Tesla Inc TSLA.O CEO Elon Musk and his company were not liable for misleading investors when Musk tweeted in 2018 that he had "funding secured" to take the electric car company private.

The Group of Seven rich nations, the European Union and Australia have set price caps for Russian diesel and other refined petroleum products to keep markets supplied while limiting Moscow's revenues when an EU embargo kicks in.

Apple Inc has forecast that revenue would fall for a second quarter in a row but that iPhone sales were likely to improve as production had returned to normal in China after COVID-related shutdowns.

Amazon.com Inc has said its operating profit could fall to zero in the current quarter as savings from layoffs do not make up for the financial impact of consumers and cloud customers clamping down on spending.

A new entity has been established in Dubai with the aim of driving the growth of family businesses in the emirate.

Aldar Properties and Dubai Holding have signed a joint venture agreement to develop new living experiences across prime locations in Dubai.

The Central Bank of the UAE (CBUAE) has raised the Base Rate applicable to Overnight Deposit Facility (ODF) by 25 basis points – from 4.4 per cent to 4.65 per cent, effective from today.

Meta, the company that owns Facebook, Instagram, and WhatsApp, has reported its fourth quarter revenues of $32.2 billion, beating the analysts' expectations.

At its annual Unpacked event in San Francisco, Samsung unveiled its latest S23 smartphone series, featuring better cameras, bigger batteries, advanced processors and an exclusive chip.

India's Adani Enterprises has called off its $2.5 billion share sale due to prevailing market conditions, the company said on Wednesday, days after a rout in its stocks following criticism by a U.S. short-seller.

Energy demand in Dubai increased by around 5.5 per cent in 2022 compared to 2021.

India's government on Wednesday unveiled one of its biggest jumps in capital spending in the past decade and said the fiscal deficit would fall next year, as it tries to create jobs while maintaining financial discipline.

The UAE and France have agreed to launch a bilateral programme to develop commercial and investable opportunities to accelerate clean energy development.

Bed Bath & Beyond Inc is preparing to seek bankruptcy protection as soon as this week, and has lined up liquidators to close additional stores unless a last-minute buyer emerges, according to sources.

Emirates has operated its first test flight on a Boeing 777-300ER, powering one of its engines with 100% Sustainable Aviation Fuel (SAF).

Gautam Adani's crucial $2.5 billion share sale was fully subscribed on Tuesday as investors pumped funds into his flagship firm, despite a $65 billion rout in the Indian billionaire's stocks sparked by a short-seller's report.

Dutch health technology company Philips will scrap another 6,000 jobs worldwide as it tries to restore its profitability and improve the safety of its products following a recall of respiratory devices that knocked off 70 per cent of its market value.

The UAE has launched a census project aimed at creating a comprehensive database of all establishments that practice industrial activities.

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, officially opened the Arab Health Exhibition and Congress on Monday.

TikTok Chief Executive Shou Zi Chew will appear before the U.S. Energy and Commerce Committee in March, as lawmakers scrutinize the Chinese-owned video-sharing app.

Adani group shares extended their sharp falls on Monday as the Indian conglomerate's rebuttal of a US short-seller's criticism failed to pacify investors, driving stock market losses for the companies to almost $70 billion over three days.

A Tesla Model S caught fire while it was being driven on a highway near Sacramento over the weekend, officials said as per reports. 

Boeing's, the original and arguably most aesthetic "Jumbo Jet", revolutionised air travel only to see its more than five-decade reign as "Queen of the Skies" ended by more efficient twinjet planes.

China's smartphone sales fell 13 per cent year-on-year in 2022, the largest plunge for the sector in a decade as consumers spent cautiously, market research firm IDC said on Sunday.

British regional airline Flybe on Saturday ceased trading for the second time in three years, cancelling all flights and 276 workers made redundant.

Toyota Motor Corp. announced that President Akio Toyoda will step down as CEO and become chairman on April 1, as the company faces pressure to adapt to the growing demand for electric vehicles. 

Meta Platforms said on Wednesday it will reinstate former US President Donald Trump's Facebook and Instagram accounts in the coming weeks, following a two-year suspension after the deadly Capitol Hill riot on January 6, 2021.

The UAE government has announced the launch of 'UAE Innovates 2023', held in collaboration with Executive Councils across the country.

Microsoft Corp on Wednesday was hit with a networking outage that took down its cloud platform Azure along with services such as Teams and Outlook, potentially affecting millions of users globally.

A total of 4.1 million visitors stayed in Abu Dhabi hotels last year, up 24 per cent from 2021, new figures have shown.

Tesla Inc Chief Executive Elon Musk testified on Tuesday that he expected strong financial support when he tweeted that he would take the electric car maker private in 2018, but admitted he lacked specific commitments from potential backers.

Indian companies and NRI-owned entities have generated around 1 million jobs in the UAE, according to Dubai Chambers.

The UAE's Ministry of Industry and Advanced Technology (MoIAT) has reduced its service fees across various categories as part of efforts to reduce the cost of doing business in the country.

His Highness Sheikh Mansoor bin Mohammed bin Rashid Al Maktoum inaugurated the new tech headquarters of talabat in Dubai’s City Walk on Tuesday.

Uganda is to commission the first of its four planned oil drilling rigs and start drilling the first production well, its petroleum agency said.

Microsoft has announced a multi-year, multi-billion dollar investment in its long-term partnership with OpenAI to accelerate breakthroughs in artificial intelligence (AI) and ensure these benefits are widely shared.

India is expected to slash the import duty on gold to undercut smugglers who have been offering hefty discounts as illicit imports boom after COVID-19, denting the market share of banks and refiners, government and industry officials told Reuters.

The UAE's Federal Tax Authority (FTA) has launched early registration for corporate tax through the EmaraTax platform for digital tax services.

Twitter Inc has about 2,300 active employees, Elon Musk said in a Tweet on Saturday after CNBC reported that Twitter's full-time headcount has reduced to about 1,300 active, working employees.

Group of Seven officials have agreed to review the price cap level on exports of Russian oil in March, later than initially planned, to give time to assess the market after more caps are placed on oil products from Russia.

Google's parent Alphabet Inc is eliminating about 12,000 jobs, or 6 per cent of its workforce, the company said Friday, in the latest cuts to shake the technology sector.

Alongside its earnings report, Netflix announced that founder Reed Hastings is stepping down as CEO but will remain as Chairman.

Yusuff Ali MA, Chairman and Managing Director of Abu Dhabi based Lulu Group International met Philippine President Ferdinand Marcos Jr. on the sidelines of the World Economic Forum in Davos.

India has told Sri Lanka it is committed to boosting investment in its debt-ridden neighbour, to help pull it from its worst economic crisis in seven decades, Foreign Minister Subrahmanyam Jaishankar said on Friday during a visit.

The UAE is in early discussions with India to trade non-oil commodities in Indian rupees, according to Emirati Minister for Foreign Trade Dr Thani Al Zeyoudi.

Dubai’s real estate sector saw a marked rise in the participation of women in 2022.

The UAE has partnered with the World Economic Forum (WEF) to launch a major initiative aimed at modernising global trading systems.

Anatoly Legkodymov, a Russian national, who founded the cryptocurrency exchange Bitzlato, has been arrested in Miami by US federal officials.

Invest in Sharjah has partnered with 10 private, public, and semi-governmental entities to present valuable insights and perspectives on the economic development in the region.

Microsoft on Wednesday said it would eliminate 10,000 jobs and take a $1.2-billion charge as its cloud-computing customers dissect their spending and the company braces for potential recession.

ADNOC will use 44.01's Earthshot prize-winning Carbon Capture and Mineralisation technology to eliminate CO2 from the atmosphere. It will be the first CCM project by an energy company in the Middle East.

Jim Ratcliffe's company INEOS has formally entered the bidding process to buy Premier League football club Manchester United, a spokesperson for the chemical firm said on Tuesday.

Apple on Tuesday unveiled MacBooks powered by its new M2 Pro and M2 Max chips, in a surprise announcement weeks ahead of its traditional launch event.

The UAE and Japan have signed several agreements and memoranda of understanding (MoU) to help accelerate the energy transition and the adoption of technology in industry.

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.