Apple is not backing down on 30% fees it charges app developers

California: Apple Inc. has defended the fees it charges developers who sell software and services through the company’s App Store, tackling an issue that’s likely to be central to a US congressional antitrust hearing next week. The technology giant touted a study it commissioned from consulting firm Analysis Group that concluded Apple’s 30 per cent cut […]

Mercedes maker is now confident of running into operating profits this year

Stuttgart: Daimler AG expects to generate an operating profit this year, after second-quarter results signaled the maker of Mercedes-Benz cars weathered the unprecedented industry slump better than feared. Daimler anticipates earnings before interest and taxes and free cashflow to be positive in 2020, but lower than last year, the manufacturer said in a statement. It […]

Kuwait government to stand guarantor for 80% of SME relief funding

Abu Dhabi: The Kuwaiti government will stand guarantor for up to 80 per cent of funding provided to those  businesses affected by the COVID-19 outbreak, without calling interest of returns. The package totals 3 billion dinars. This is as per the draft law put together by the fatwa and legislative department at the Ministry of […]