Bloomberg Alphabet Inc. said that the European Commission’s recent antitrust fine will reduce second-quarter profit by about $2.74 billion. The company plans to report the fine in a separate operating expense line on its income statement. It’s not tax deductible, so the charge will reduce Alphabet’s net income and earnings per share by the full $2.74 billion amount, it said …

DUBAI / WAM Mattar Al Tayer, Director-General and Chairman of the Board of Executive Directors of Roads and Transport Authority (RTA), has announced that construction works have reached 50% on the First Contract of Improvement of Airport Street Project covering Rashidiya & Casablanca Intersections. He also added that completion rate had reached 40% for the Second Contract covering Nad Al …

DUBAi / WAM Dubai Electricity and Water Authority (DEWA) has awarded a contract worth AED226.5 million for the construction work for a complex for its Distribution Power division at Al Ruwaiyah, Dubai. The contract includes the construction of a five-floor office building with basement and a multi-story car park, mosque, accommodation for the Imam, stores, field offices, staff accommodation, and …