Twitter triples profits, global user base rises

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(Washington) - Twitter said its profits tripled in the past quarter even as it ramped up efforts to root out abuse and misconduct on its short messaging platform. Profits in the first quarter hit $191 million, compared with $61 million a…

World's largest plane Stratolaunch makes first test flight

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(Washington) - The world´s largest airplane -- a Stratolaunch behemoth with two fuselages and six Boeing 747 engines -- made its first test flight on Saturday in California. The mega jet carried out its maiden voyage over the Mojave desert. It…

IMF warns rising debt makes economy more vulnerable

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(Washington) - Rising corporate and government debt levels and the sharp increase in more risky lending could leave the global economy vulnerable to another severe downturn, the International Monetary Fund warned. While the concerns "aren´t…

Uber launches electric bikes, scooters in Paris

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(Paris) - US ride-hailing group Uber said that it would start deploying electric bikes and scooters for rent on Paris streets as soon as this week, joining a crowded market which city officials have vowed to rein in. Initially 500 of its…

UAE, Australia accelerating trade cooperation

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(Sharjah) - The UAE and Australia reviewed prospects for widening the scope of cooperation across various fronts. This came during the UAE- Australia Business Roundtable, which was organised by the Sharjah Chamber of Commerce and Industry…

David Malpass named World Bank president

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David Malpass, a senior US Treasury official in President Donald Trump´s administration, was unanimously chosen as the next president of the World Bank. The selection of Malpass by the bank´s board of directors followed an "open, transparent"…

China´s Huawei profit up 25% in 2018

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(Shenzhen) - China´s Huawei´s net profit grew 25 percent last year, the telecom giant said, as it vowed to "shake off outside distractions" amid a global US campaign to blacklist the company over espionage fears. Net profit rose to 59.3…

Apple pulls plug on AirPower wireless charging mat

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(San Francisco) - Apple confirmed that it will not deliver on its promise of helping usher in a wireless future with an AirPower mat for charging its devices. The project announced in late 2017 proved to be an engineering challenge, Apple…

Pound climbs before vital Brexit vote

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(London) - The pound climbed solidly before a crucial vote on Britain´s Brexit future. Stock markets meanwhile rallied, with investors looking past a downgrade of US growth to focus on the next round of top-level China-US trade talks. Around…

Etihad Airways, Elenium sign partnership to advance future of passenger services

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(London) - Etihad Airways and Elenium, a provider of automation technology solutions, yesterday signed a Memorandum of Understand, MoU, for cooperation to develop a variety of innovative solutions in both passenger and freight processing services. Under…

UAE, Greenland sign agreement on exchange of information on tax matters

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(Copenhagen) - The United Arab Emirates and Greenland have signed an agreement on the exchange of information on tax matters to combat tax evasion. The agreement will promote economic cooperation, overcome obstacles, and increase gains and…

Uber to buy rival Careem for $3.1 bn

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Uber Technologies has bought Middle East rival Careem for $3.1 billion, the two companies said in a statement Tuesday. Uber will pay Dubai-based Careem $1.4 billion in cash and another $1.7 billion in convertible notes when the deal closes,…

Etihad Airways, Saudi Airlines to build on existing codeshare partnership

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(Riyadh) - Etihad Airways, the national airline of the United Arab Emirates, and Saudi national flag carrier, Saudi Arabian Airlines, announced positive growth in traffic since their codeshare partnership began in November 2018. Jointly,…

DP World to Invest in new infrastructure in Kazakhstan

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(Dubai) - The potential of DP World investing in new infrastructure in Kazakhstan’s ports and logistics sectors was the focus of discussions between global trade enabler DP World’s Chairman and CEO Sultan Ahmed bin Sulayem and Kazakhstan’s…