The ruling is seen as the first big win for federal authorities taking on Big Tech’s market dominance
Latest News
ESG
Middle East workers want pay rises over environment policies at work: PwC
A global study of employees’ feelings about ESG policies shows disconnect between workers and companies in Middle East says PwC
AD Ports Group
AD Ports Group sponsors Arctic Challenge expedition to combat climate change
Through this partnership, the Group will provide critical support for the mission, enabling the expedition team to leverage advanced technologies and innovative methodologies in their research
Blockchain
DeFi yield infrastructure venture Zoth with UAE operations raises $4mn funding
The company’s latest funding round attracted prominent investors, including Taisu Ventures, G20, Fat Cat Ventures, GemHead Capital and Foundership Ventures
Airlines
India’s tax authority issues $120mn show cause notices to 10 foreign airlines, including Emirates and British Airways: Report
The notices, sent over the past three days, deal with unpaid tax dues on the import of services by Indian branches from head offices
Abu Dhabi Securities Exchange
Global sell-off hits UAE stocks as US recession fears mount: Experts react
Despite Monday’s global market turbulence, experts emphasise the UAE’s economic resilience and growth potential even as international markets face uncertainty
geopolitical conflicts
Lebanon housing costs surge amid property crunch as conflict fears spark exodus, echoing 2006 war
Lebanese fleeing conflict zones spark safe housing shortage and rental price surge, compounding pressures on peak tourism season
Financial Market
MENA region poised for $50bn market boom despite US recession fears, market volatility
Over 60 Rhinos and classified ventures are expected to hit the market within the next 3 to 5 years, experts reveal
Dubai
Revealed: The future of luxury homes in Dubai
The luxury home market in prime Dubai locations is anticipated to remain strong
Abu Dhabi
Abu Dhabi’s IHC forms Rorix Holdings to facilitate global trade
Will engage in strategic partnerships and alliances in areas like trading, financial services, commodities, logistics and distribution
Financial Market
Asian markets rebound as Japanese stocks surge 10%: Report
The Nikkei index surged over 10 percent to above 34,500, bouncing back from Monday’s 12.4 percent plunge, which marked its worst sell-off since the 1987 Black Monday crash
richest people
Markets meltdown: Who is the richest person in the world right now?
The global stock market sell-off, triggered by fears of a potential US recession and weak economic data, has significantly impacted the fortunes of the world’s wealthiest individuals
Al Marjan Island
RAK real estate: Almal real estate development breaks ground on $280m luxury project with Wynn resort views
Set to open in 2026, the development will comprise two properties: The Unexpected Al Marjan Island Hotel and The Unexpected Al Marjan Residencies
CBUAE
UAE cheque clearances hit AED544.4bn in first five months of 2024
The CBUAE statistics showed cash deposits at the Central Bank totalled AED75.1 billion during the same period
CBUAE
UAE Central Bank gold reserves reach $5.6bn in May 2024
This marks a 19.7% year-on-year increase from AED17.219 billion in May 2023, the central bank reported
Beirut
Saudi Arabia urges citizens to leave ‘immediately’ amid rising Lebanon-Israel tensions
The Saudi foreign ministry issued a statement reiterating its advice for nationals to avoid travel to Lebanon
Bahrain
Bahrain economy grows 3.3% in Q1 as tourism and IT thrive
Bahrain’s Ministry of Finance and National Economy data shows expanding sectors in the Kingdom