Google antitrust suit being drafted by US Justice Department

The US Justice Department is drafting a lawsuit against Alphabet Inc.’s Google, accusing the internet giant of violating antitrust laws, according to a person familiar with the matter. The Justice Department has been investigating Google for nearly a year over whether the company is thwarting competition in the digital advertising market, where it holds a […]

Mubadala announces rent deferment for ADGM Square tenants

Abu Dhabi: The Real Estate and Infrastructure arm of Mubadala Investment Company, on Sunday announced their rent deferment plans for commercial tenants at Abu Dhabi Global Market (ADGM) Square as part of their economic relief measures. The deferments, which are effective until the end of June, applies to leasing office space in their four towers […]

India economy won’t feel immediate lift from $277b stimulus

New Delhi: India’s government spent the past five days spelling out details of a 21 trillion rupees ($277 billion) virus-relief package – but many questions still remain. Among the key measures outlined are: loan guarantees for small businesses, cheap credit to workers and farmers, tax breaks for service providers, increased foreign direct investment in defense […]

Auto renewal service of Dubai Economy accounted for 68% in first four months of 2020

Dubai: The auto renewal service of Dubai Economy accounted for 68 per cent (33,874 licences) of the trade licences renewed (49,997) during the first four months of 2020. Among the auto renewed licences, 73 per cent were commercial, and 24 per cent were professional. The Business Registration & Licensing sector in Dubai Economy also witnessed […]

Oil price continues to rally as economies reopen

Abu Dhabi: Oil prices closed on a third straight weekly high on Friday as prices continued to rally on economies reopening from their COVID-19 lockdowns. Brent was up at $32.50 on Friday’s trading, with West Texas Intermediate (WTI) on $29.43, as both benchmarks kept up their sustained rallies on positive market sentiment and hopes of […]