News

Bloomberg Switch Inc. raised $531 million in its initial public offering, making it the third-biggest technology IPO this year in the US. The data center company sold 31.25 million shares for $17 each after marketing them for $14 to $16 apiece, Switch said in a statement. Only Snap Inc.’s $3.9 billion IPO and Altice USA Inc.’s $2.2 billion offering topped ...

Bloomberg Facebook Inc.’s chief security officer warned that the fake news problem is more complicated and dangerous to solve than the public thinks. Alex Stamos, who’s handling the company’s investigation into Russia’s use of the social media platform ahead of the 2016 US presidential election, cautioned about hoping for technical solutions that he says could have unintended consequences of ideological ...

Bloomberg Denim production is a “dirty business,” says Michael Preysman, chief executive officer of fashion e-tailer Everlane Inc. He’s not wrong. Chances are, those jeans you’re wearing produced 44 pounds of carbon dioxide and took up to 10,000 litres of water to make, much of it ending up in waterways, along with toxic dyes and chemicals deployed in making denim. ...

Dubai / Emirates Business Global digital transformation enabler, SAP, announced on Saturday at GITEX Technology Week 2017 that the Internet of Things (IoT) will catalyze the Middle East’s $70 billion digital contribution to GDP. According to McKinsey, the UAE contribution to that figure is $15 billion. Governments across the Middle East, North Africa, and Southwest Asia are increasingly driving innovative ...

Dubai / WAM The Dubai Land Department (DLD), reached another technical milestone by becoming the world’s first government entity to adopt blockchain technology, reflecting the ‘Dubai Blockchain Strategy’ launched by HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Board of Trustees of Dubai Foundation for the Future. The initiative has been ...

Abu Dhabi / WAM Etisalat plans to invest more than AED3 billion in 2017 to develop and modernise infrastructure and expand mobile and fibre optic networks, Internet of Things, artificial intelligence and robotics across the UAE, according to a top company executive. Speaking to the media ahead of the GITEX Technology Week, Saleh Al Abdooli, CEO of Etisalat Group, said ...

Dubai / Emirates Business Dubai Economy will participate in GITEX Technology Week 2017 being held at the Dubai International Convention and Exhibition Centre from October 8-12, showcasing its innovative e-services and applications for visitors. The participation is in line with the efforts of Dubai Economy to connect with leading technology companies and government entities as well as to update businessmen ...

Dubai / WAM The Dubai Airport Freezone Authority (DAFZA), announced first smart customs free zone at GITEX Technology Week 2017. DAFZA’s pavilion this year will showcase a group of smart innovative initiatives in customer experience and organisational leadership aimed at supporting Dubai Plan goal of establishing a leading platform and a smart city. It will also highlight cooperation between DAFZA ...

Abu Dhabi / WAM Addressing an audience of more than 900 teachers and experts from 80 countries around the globe, HH Sheikh Abdullah bin Zayed Al Nahyan, UAE Minister of Foreign Affairs and International Cooperation, emphasised the importance of adapting teaching methods and curriculums to the demands of the 21st century. In his keynote speech at the opening of the ...

Dubai / WAM Dubai Culture and Arts Authority, Dubai Culture, the Emirate’s dedicated entity for culture, arts and heritage, has announced that the Etihad Museum scooped top honours at The Leading Culture Destinations Awards 2017 in London, where it took home the coveted ‘Best New Museum in the Middle East and Africa’ award and also placed first runner-up in the ...