Retailers should not take advantage of COVID-19 situation: Dubai economy official

Dubai: Businesses should not take advantage of the COVID-19 situation and make more profit, said Sami Al Qamzi, Director-General of the Department of Economic Development (DED), on Thursday during a televised press conference. Addressing the issue of retailers increasing prices in Dubai, he said: “The highest number of fines we gave out over the last week […]

At nearly 3b users, Facebook stock up as ads stabilise after steep decline

San Francisco: Facebook stock soared nearly 10 per cent in after-hour trading after it declared Q1 earnings where revenues rose 18 per cent at $17.74 billion and operating income jumped 78 per cent on higher margins and net income more than doubled. Facebook now has 1.73 billion daily active users (DAUs) and 2.6 monthly active […]

Mukesh Ambani foregoes salary until COVID-19 impact recedes

Mumbai: Reliance Industries (RIL) Chairman Mukesh Ambani has decided to forego his entire salary until the impact of the coronavirus pandemic declines. Ambani has capped his salary at Rs 15 crore since Rs 2008-09. “The Board approved Mukesh Ambani’s proposal to forego his entire salary until the impact of Covid-19 abates. In light of the […]

Coronavirus: Apple reports higher sales as China reopens

Apple Inc reported sales and profits that beat Wall Street expectations Thursday, with Chief Executive Officer Tim Cook saying China sales were “headed in the right direction” as that country reopens from the novel coronavirus. But Cook said it was impossible to forecast overall results for the current quarter because of uncertainty created by the […]