US Congress to question heads of tech giants on Wednesday, July 29

WASHINGTON: A highly anticipated congressional hearing on anti-competitive practices, bringing together the heads of four US technology giants, has been rescheduled for noon (1600 GMT) Wednesday, July 29 (8pm in the UAE), the House Judiciary Committee has announced. The heads of Google, Amazon, Facebook and Apple — the world’s biggest technology companies — will be […]

High-flying Tesla reports surprise $104m profit

New York: Tesla reported a surprise second-quarter profit Wednesday, further boosting shares as it confirmed ambitious targets for 2020 car deliveries despite the coronavirus pandemic. The electric car maker scored profits of $104 million (Dh382 million) compared with a loss of $408 million in the year-ago period. Revenues fell five per cent to $6 billion. […]

Wall Street closes lower as Intel dives, earnings and pandemic weigh

NEW YORK: Wall Street retreated on Friday, heading into the weekend with a broad sell-off due to weak earnings, surging coronavirus cases and geopolitical uncertainties. For the second day in a row, the tech sector weighed heaviest on all three major U.S. stock averages. Intel Corp led the decline, its shares plunging 16.2% after the […]

Amazon plans to create ‘thousands of job opportunities’ in India

New Delhi: Amazon is looking forward to creating thousands of job opportunities in India as the e-commerce giant plans to make 10 new warehouses operational in the country ahead of the festive season. With the new additions, Amazon.in will have more than 60 warehouses, or fulfillment centres, in 15 states, with a total storage capacity […]

First of its kind the Arab World: UAE launches Young Economist Program

DUBAI: The UAE has launched on Saturday the Young Economist Program, the first-of-its-kind program in the Arab world that  aims to train young people to become future leaders in the field of economics. The program was launched under the patronage of Sheikh Hamdan Bin Mohammed Bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Dubai Executive […]