Dubai Silicon Oasis sees net profit growth of 42%

Dubai: The Dubai Silicon Oasis technology park saw its net profits surge by 42.1 per cent in 2018, growing to Dh292.4 million from Dh205.7 million the year before. The free zone also posted a total revenue of Dh576.9 million for 2018. The number of companies based in the Dubai Silicon Oasis also increased by 161 […]

Consumer prices fall for second month in row

Dubai Consumer prices in Abu Dhabi declined by 0.8 per cent in February 2019 compared to February 2018, marking the second consecutive month of a drop in prices in the emirate. The decrease last month was driven by a decline in transport costs, according to the latest figures from Statistics Centre Abu Dhabi (Scad), and […]

BMW plans massive cost cuts to keep profits above water

MUNICH, Germany German high-end carmaker BMW warned on Wednesday it expects pre-tax profits “well below” 2018 levels this year as it announced a massive cost-cutting scheme aimed at saving 12 billion euros ($13.6 billion) in total by 2022. A spokesman said that “well below” could indicate a tumble of more than 10 per cent. The […]

UBS says first quarter was ‘one of the worst’ in recent history

Zurich UBS Group AG Chief Executive Officer Sergio Ermotti gave the most decisive verdict yet on the difficult market conditions faced by Europe’s investment banks, describing conditions as the toughest in years. UBS will slow down hiring and deepen cost cuts by about $300 million as it confronts one of the worst first-quarter environments in […]

Serial hacker is back: 26 million users’ personal data for sale

San Francisco: The hacker, who earlier stole and posted personal data of close to 843 million users of various popular websites on a Dark Web marketplace, has now put up the fourth set of nearly 26 million hacked databases for sale. Hacker Gnosticplayers has put up the personal data of 26 million people using the […]

UK inflation up, London house prices fall by most since 2009

LONDON: Britain’s main inflation rate ticked up last month but stayed close to January’s two-year low, helping consumers maintain their spending power as wage growth also picked up, even though the timing of Brexit remained uncertain. Wednesday’s official data also showed house prices rose at the weakest annual pace in 5 1/2 years in January, […]