Facebook's record fine has been approved by US regulators.
The social media platform was told to pay USD$ 5 billion (AED 18.2 billion) to settle an investigation into data privacy violations.
The US Federal Trade Commission (FTC) approved the historic fine in a 3-2 vote.
The FTC has been looking into allegations that consultanc0y firm Cambridge Analytica illegally obtained the data of close to 90 million Facebook users.
Musk-led group makes $97.4 bln bid for control of OpenAI
A consortium led by Elon Musk offered $97.4 billion (AED 357 trillion) to buy the nonprofit that controls OpenAI, another salvo in the billionaire's fight to block the artificial intelligence startup from transitioning to a for-profit firm.
DEWA announces record AED 30.98 bln revenue
Dubai Electricity and Water Authority (DEWA) recorded consolidated full year revenue, for 2024, of AED 30.98 billion, EBITDA of AED 15.70 billion and net profit after tax of AED 7.24 billion.
Aviation sector contributes $4.1 trillion to global economy
The UAE's Minister of Economy and Chairman of the General Civil Aviation Authority (GCAA), on Monday emphasised the aviation sector's critical role in the global economy, noting that it accounts for 12 to 13 per cent of GDP in some countries and supports millions of jobs worldwide.
Paris AI summit draws world leaders
World leaders and technology executives are convening in Paris on Monday to discuss how to safely embrace artificial intelligence at a time of mounting resistance to red tape that businesses say stifles innovation.
16% growth in new economic licences in Abu Dhabi during 2024
The Abu Dhabi Registration and Licensing Authority (ADRA), which develops and regulates the business sector, on Monday revealed significant growth in business licences and compliance indicators in the Emirate's mainland and non-financial economic free zones during 2024.
