EU ‘s Google fine sees parent Alphabet profits drop 29%

San Francisco: Google parent Alphabet on Monday reported that profit in the first three months of this year sagged under the weight of a hefty antitrust fine in the European Union. Alphabet said that profit in the first-quarter fell 29 per cent to $6.7 billion (Dh24.6 billion) on revenue that climbed 17 per cent to […]

Dubai travel start-up Wego targeting IPO in ‘few years’

Dubai: The Dubai-based online travel business Wego is actively working towards a public listing in the United States, waiting to hit a market capitalisation of $1 billion (Dh3.67 billion) before doing so, its co-founder said on Sunday. In an interview with Gulf News, the company’s co-founder and CEO Ross Veitch said that Wego was being […]

IMF projects 2.8 per cent GDP growth for UAE in 2019

Dubai: The International Monetary Fund (IMF) has revised the UAE’s economic growth outlook downwards from the October 2018 forecasts. For 2019, the IMF’s Regional Economic Outlook has projected 2.8 per cent real GDP growth compared to the earlier forecast of 3.6 per cent. According to the latest IMF projections, the UAE economy grew by 1.7 […]