News

Bloomberg Google parent Alphabet Inc. warned that its business may be damaged by changing data privacy practices, new digital advertising polices and software bugs that leak user information. The company filed its annual report and added language that suggests it is adjusting to stepped-up regulatory scrutiny and evolving consumer attitudes toward data and privacy online. “Changes to our data privacy ...

Bloomberg UK growth is set to be sluggish for the next few years even if a Brexit deal is secured, according to the National Institute of Economic and Social Research. In a report on Wednesday, the think tank lowered its estimate for growth this year to 1.5 percent from 1.9 percent, and said output will pick up only slightly to ...

Bloomberg Daimler AG is preparing a “comprehensive” cost-cutting program to secure profitability as the German automaker fights through a US-China trade spat, slowing demand in Europe and North America and surging expenses to develop electric vehicles. The Mercedes-Benz manufacturer is stepping up efforts to shore up margins and counter pressures that are unlikely to blow over anytime soon. After a ...

ABU DHABI / WAM HH Sheikha Fatima bint Mubarak, Chairwoman of the General Women’s Union (GWU), Supreme Chairwoman of the Family Development Foundation (FDF) and President of the Supreme Council for Motherhood and Childhood, stressed that the UAE is a nation of tolerance and peace whose foundations were laid by the late Sheikh Zayed bin Sultan Al Nahyan, and the ...

DUBAI / WAM Aramex, the leading global provider of comprehensive logistics and transportation solutions, on Tuesday announced its financial results for the fourth quarter and full year ending on December 31, 2018. The 2018 full year revenue increased by 8% to AED5,086 million, compared to AED 4,721 million in FY 2017. Aramex’s net profit in 2018 increased by 13% to ...

DUBAI / WAM Emirates Central Cooling Systems Corporation (Empower), the world’s largest district cooling services provider, has announced that it has secured a syndicated loan of AED1.5 billion through a group of local, regional and international banks to finance its new projects. The loan will be used to expand the capacity and district cooling infrastructure in various projects.

DUBAI / Emirates Business Preparing future generations to adapt to the changes in the workplace brought about by the Fourth Industrial Revolution has never been more critical. Developments in AI, genetics, nanotechnology and biotechnology, to name just a few domains, have transformed the job market irreversibly. It is with this forward-looking premise that the UAE will launch the inaugural Advanced ...

DUBAI / WAM The Federal Tax Authority (FTA), clarified that donations, grants and sponsorships are outside the scope of Value Added Tax (VAT), only when no benefit is received in return. Any benefit in return for such payments will be subject to VAT, the authority said. The authority had issued a new clarification on VAT treatment for donations, grants and ...

Ajman / Emirates Business Ajman Free Zone (AFZ) will participate in the UAE’s Innovation Month of February with an Innovation Forum called Digitalised Workplace, which is open to the public. The event, to be held on February 10 at Marsa Ajman will host a wealth of speakers representing globally recognized businesses Microsoft and Salesforce, for whom innovation has been key ...

Abu Dhabi / WAM Masdar – the Abu Dhabi Future Energy Company – is collaborating with the Ministry of Education (MoE) on its Innovation Ambassador Programme 2019, to support the UAE Vision 2021 through a mutual exchange of knowledge and expertise, empower youth, and build sustainability awareness. A Memorandum of Understanding (MoU), was signed on Tuesday at a special ceremony on ...