Business

France will ban the use of Chinese-owned video-sharing app TikTok on the work phones of civil servants, Civil Service Minister Stanislas Guerini said on his Twitter account.

OpenAI has announced the release of new plugins for its popular language model, ChatGPT. 

Shares of Jack Dorsey's Block, the payment company formerly known as Square, plunged nearly 15 per cent on Thursday after short-seller Hindenburg Research announced that it had taken a short position on the stock. 

UAE money exchange house, Al Ansari Financial Services, has increased the size of the retail tranche in its initial public offering (IPO) due to “strong demand”.

US lawmakers at a congressional hearing on Thursday accused TikTok of serving harmful content and inflicting "emotional distress" on young users, grilling the Chinese-owned app's CEO on the company's outsized influence on teens.

The Central Bank of the UAE (CBUAE) has announced the launch of its digital currency strategy.

Several celebrities, including actress Lindsay Lohan and YouTube influencer Jake Paul, have been charged by the US Securities and Exchange Commission (SEC) with promoting the cryptocurrencies of a Chinese entrepreneur accused of fraud.

The Central Bank of the UAE (CBUAE) has decided to raise the base rate applicable to the Overnight Deposit Facility (ODF) by 25 basis points – from 4.65 per cent to 4.90 per cent, effective on Thursday.

Financial literacy courses will be provided to over 9,000 blue-collar workers as part of Dubai Holding's latest community initiative set to launch this Ramadan.

Dubai Multi Commodities Centre (DMCC) has unveiled prototypes of a new series of gold and silver bullion coins that celebrate the achievements of the UAE over the last 50 years.

Google has announced the launch of Bard, an experimental AI tool that allows users to collaborate with generative AI to boost productivity and creativity. 

India dampened foreign airline hopes for more access to its airports on Tuesday, with its aviation minister urging domestic carriers to fly long-haul and help establish new hubs as it seeks to recapture control of Indian travel from foreign rivals.

Swedish retailer IKEA is recalling its BLÅVINGAD fishing game multicolour over choking concerns and has advised customers to stop using it.

Dubai International Financial Centre (DIFC) has announced the official launch of its venture building programme, which aims to promotes the growth of innovative start-ups and scale-ups in the region.

Expo 2020 Dubai’s closing report has been submitted to the Bureau International des Expositions (BIE), the governing body for all World Expos.

Switzerland awoke to a new era on Monday after UBS swept up Credit Suisse in a government-brokered rescue that dented the country's long-held pride in its banking expertise.

Bitcoin, the largest and most popular cryptocurrency, increased by 5.19 per cent to $28,380 at on Sunday, adding $1,400 to its previous close. 

Top ministers from the UAE and China have discussed enhancing joint investment opportunities in new economic sectors, trade, logistical transportation, real estate, financial services, technology, and insurance activities.

Talks over rescuing Credit Suisse rolled into Sunday as UBS AG sought $6 billion from the Swiss government to cover costs if it were to buy its struggling rival, a person with knowledge of the talks said.

AD Ports Group has signed a concession agreement to develop and operate a multi-purpose port in Safaga in Egypt.

The UAE and Georgia have signed a joint statement confirming the successful conclusion of negotiations towards a Comprehensive Economic Partnership Agreement (CEPA).

Microsoft has announced its latest productivity tool called Microsoft 365 Copilot, combining the power of large language models (LLMs) with Microsoft Graph and Microsoft 365 apps. 

Sharjah and Indian officials have reviewed the prospects of business collaboration, on a tour of the sub-continent by senior officials from the emirate.

The livery of the world’s largest international airline has undergone a refresh.

As Facebook announced a fresh round of layoffs, under its "Year of efficiency" plan, former Meta employees are speaking out on social media, accusing the tech giant of being uncaring and claiming the process isn't performance-based.

A bipartisan majority of Americans oppose US taxpayers footing the bill when bad management causes a bank to fail, though Republican opposition to bank bailouts has softened over the last decade, a Reuters/Ipsos poll completed on Wednesday found.

A trade delegation from South Korea visited the UAE as both sides look at expanding diplomatic and business ties.

Top Japanese companies agreed to their largest pay increases in a quarter century at annual labour talks that wrapped up on Wednesday, heeding, at least for now, Prime Minister Fumio Kishida's call for higher wages to offset rising living costs.

Indian Minister for New, Renewable Energy and Power, R K Singh, has praised the country's ongoing cooperation with the UAE in the field of renewable energy.

Google Workspace is taking its AI capabilities to the next level with a new set of generative features that will make the writing process easier than ever before. 

Amazon will showcase the products of 100,000 small and medium enterprises on its UAE store Amazon.ae by 2026. The move supports the D33 agenda, to transform Dubai into one of the world's top ten digital economies.

Facebook-parent Meta Platforms said on Tuesday it would cut 10,000 jobs this year, making it the first Big Tech company to announce a second round of mass layoffs.

Expo City Dubai has launched the first phase of residential developments as part of its journey to become a smart, sustainable, people-centric city of the future.

Microsoft is set to announce a major upgrade to their popular AI ChatGPT, which is expected to be launched on March 16.

Shockwaves from the collapse of Silicon Valley Bank pounded global bank stocks further on Tuesday as assurances from President Joe Biden and other policymakers did little to calm markets and prompted a rethink on the US interest rate outlook.

Dubai World Trade Centre (DWTC) welcomed nearly 2 million visitors last year as it recorded strong performances across its businesses.

ADNOC Gas debuted trading of its shares on the Abu Dhabi Securities Exchange (ADX) on Monday.

Meta Platforms, the parent company of Facebook, is reportedly considering the launch of a decentralised social network similar to Twitter, according to media reports quoting sources familiar with the matter. 

Silicon Valley Bank (SVB) customers will have access to their deposits starting on Monday, U.S. officials said on Sunday, as the federal government announced actions to shore up deposits and stem any broader financial fallout from the sudden collapse of the tech startup-focused lender.

Saudi Arabia's new national airline, unveiled by the Kingdom's Crown Prince Mohammad bin Salman bin Abdulaziz, is expected to add $20 billion to the non-oil GDP growth.

British finance minister Jeremy Hunt said he would use this week's budget plan to remove barriers, including high childcare costs, that are stopping people from working and causing a major problem for employers after the COVID-19 pandemic and Brexit.

Etisalat by e& today announced the implementation of the EUTELSAT QUANTUM satellite solution, becoming the first telco in the country to expand 5G network capabilities over a software-defined satellite.

China maintained its position as the world's largest logistics market for the seventh consecutive year in 2022, the Chinese news agency, Xinhua, reported today.

Dubai-based private school operator GEMS Education has announced a pay hike for teachers.

Americans most want to delete Instagram from their phones, according to a recent analysis of internet search trends by cybersecurity website VPNOverview. 

A Forum promoting investment opportunities between the UAE and Indonesia has convened in Dubai.

Al Ansari Financial Services has announced its intention to float on the Dubai Financial Market (DFM).

The Supreme Council for Financial and Economic Affairs has issued resolutions reconstituting the Board of Directors of Abu Dhabi Investment Authority (ADIA) and Mubadala Investment Company.

Blacklane, the chauffeur hailing service, has picked Dubai to launch the region’s first all-electric fleet of vehicles.

The city of Khorfakkan has won the award for the 'Best Arab Tourist City'. The announcement was made at a ceremony for the Arab Union for Tourist Media as part of the world's largest travel trade show, ITB Berlin in Germany.

Tesla is once again facing scrutiny after reports of steering wheels falling off its 2023 model vehicles while in motion. 

Meta Platform's Instagram was back up for most users after a global outage, the photo-sharing platform said on Thursday, adding that an hours-long technical issue has been resolved.

Hong Kong, one of the world's top luxury shopping destinations, is losing its lustre as high-end retail properties go vacant and famous foreign brands reduce exposure to the city in favour of opening new outlets in mainland China.

The UAE's Ministry of Industry and Advanced Technology (MoIAT) has launched the Make it in the Emirates Awards to recognise excellence and innovation in the industrial sector.

Tech giant Apple has announced that it will invest an additional €1 billion in German engineering over the next six years, as part of the expansion of its Silicon Design Centre in central Munich. 

Abu Dhabi-based G24 company Presight Al Holding has announced its plans to offer 1.35 billion shares through IPO (initial public offering).

Apple's biggest supplier Foxconn says its revenue last month fell by 11.65 per cent compared to the same period in 2022 due to weaker demand for electronics.

Alibaba Cloud has announced its collaboration with its long-standing partner Dubai Holding in its Dubai-based data centre to upgrade the facility with state-of-the-art infrastructure and a wider range of products and services.

Dubai’s Department of Economy and Tourism (DET) has announced the relaunch of the pioneering Carbon Calculator tool that measures the carbon footprint within Dubai’s hospitality sector.

Dubai Electricity and Water Authority (DEWA) received 4,056 requests for electricity connection through its Al Namoos service in 2022, an increase of 6.1 per cent compared to 2021.

Italian oil and gas group Eni has announced it will cooperate with Abu Dhabi National Oil Co (ADNOC) on energy transition projects.

Japan pledged financial and technological support on Saturday to help ASEAN countries accelerate their efforts to decarbonise their economies and combat climate change.

The new customs duty, which was to be levied on goods bought internationally with a value of more than AED 300 will no longer apply in Dubai as of March 1, 2023.

Saving deposits in the UAE banking system, excluding interbank deposits, increased to AED 245.867 billion by the end of December 2022, a YoY growth of approximately 1.7 per cent from 2021.

The UAE and Turkey have signed a Comprehensive Economic Partnership Agreement (CEPA).

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.