NMC says review of books to first focus on cash position

Dubai: NMC Health said on Monday a review of its books, prompted by a recent short-seller attack, will initially focus on its cash balances as of December 15. NMC has been embroiled in a bitter battle with US short seller Muddy Waters, after the latter produced a report on Dec. 11 questioning the company’s accounting […]

Goldman Sachs predicts 200mn 5G phone sales in 2020

San Francisco: US based investment banking and financial service company Goldman Sachs is forecasting a hefty 200 million 5G smartphone shipments globally in the coming year. The new predicted value is about 20 times more than the sales figure of 2019. According to estimates, there will be about 1 million new 5G base stations in […]

Trump says Zuckerberg told him he’s Facebook’s ‘No 1’

Washington: President Donald Trump boasted Monday that Facebook CEO Mark Zuckerberg told him at dinner he is “number one” on the global social media platform. “I had dinner with Mark Zuckerberg the other day and he said ‘I’d like to congratulate you… you are number one on Facebook,’” Trump said. The president, speaking in a […]

UAE’s first business unified communication service launched

Dubai: Etisalat on Monday announced the launch of a cloud-based business unified communication and collaboration service, ‘CloudTalk’, for small and medium businesses and enterprise customers in the UAE. The telecommunications company said that had partnered with US-based Ribbon Communications for the new cloud based programme, which would provide its customers with a secure, scalable and […]

Federal Tax Authority records rise in tax registered businesses

Abu Dhabi: The Federal Tax Authority has revealed that the number of tax registered businesses has increased thanks to the growing awareness among business sectors, and the ease and flexibility of electronic tax procedures available through the Authority’s official website, which was developed during the year 2019. Khalid Ali Al Bustani, Director General of the […]

HP wins $439 million as judge triples jury price-fix award

San Francisco: HP Inc. was awarded $439 million in damages against Quanta Storage Inc. and its US subsidiary after a federal judge tripled a jury’s 2019 award for damages caused by a widespread scheme to inflate the price of optical disk drives. In October, a Houston jury ordered Quanta to pay HP $176 million in […]