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Google face $180 mil. fine for market abuse by S. Korea

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Google

Google was almost penalize $180 million by South Korea’s antitrust authority on Tuesday. Which is for abusing its dominance in the mobile operating system and app industries. Also the latest in a slew of regulatory actions against tech companies across the world.

Google and Apple compelling their payment methods

The fine comes only weeks after South Korea enacted legislation prohibiting big app store operators. Which are like Google and Apple from compelling software developers to use their payment methods. In addition making their lucrative Play Store and App Store monopolies unlawful.

In an antitrust fight with Epic Games. US judge ordered Apple to relinquish control over its App Store payment mechanism last week.

In South Korea, the world’s 12th biggest economy and recognized for its technical strength. Also Google and Apple dominate the internet app industry.

Since 2016, the Korea Fair Trade Commission (KFTC) has been investigating Google. However for allegedly blocking local smartphone manufacturers like Samsung Electronics from modifying its Android operating system.

It claimed that Google hindered market competition. By banning smartphone manufacturers from installing customized versions of Android. Also known as “Android forks,” on their handsets.

Also read: ABU DHABI’S INTERNATIONAL HOLDING COMPANY ACQUIRED INVESTOR MURBAN FOR 1.7 BILLION DIRHAMS.

Device producers were unable to introduce innovative devices with new services as a result of this, according to the KFTC.

“As a result, It might further cements Google’s market domination in the mobile OS industry.”

It slapped a 207.4 billion won ($176.8 million) punishment on Google and ordered it to take corrective action.

Google has argued that the fees it charges on the Play Store are industry standard. Also reasonable remuneration for establishing secure marketplaces where developers can reach customers all over the world.

According to data from Seoul’s science ministry. The Play Store generated almost 6 trillion won ($5.2 billion) in income in 2019. Also accounting for 63 percent of the country’s total.

Read more about:  Korea Fair Trade Commission

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Emirates unveils world’s most expensive and fastest ambulance

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The world’s fastest and priciest ambulance

In Dubai on Friday, the world unveiled the world’s fastest and priciest ambulance, the Lykan HyperSport, manufactured in the UAE and capable of speeds of up to 200 mph and over 160 mph. The car will be used by emergency crews and is valued at $3 million.

Moreover, The HyperSport Responder is one of only seven Lykan HyperSport cars in the world. It accelerates from zero to 100kph in 28 seconds and goes up to 400kph on its twin-turbocharged 780-HP Porsche engine. The car comes with 440 diamonds embedded in the LED headlights. It comes with a gold-plated interior roof. Its interior comes with gold-stitched leather upholstery.

ALSO READ: SpaceOps 2023 conference will take place in the UAE

Khalifa bin Darrai, chief executive of the Dubai Corporation for Ambulance Services, said, “Dubai is synonymous with what is unique and first in the world.” He added, “The car’s speed and capabilities can help reduce response times during emergencies and ensure timely intervention.”

The ambulance has an all-carbon-fiber body

Besides displaying the slogan “Dubai, the world’s most desirable city to live in,” the car also features the logo of Dubai Destinations. Which focuses on highlighting the emirate’s unique experiences and activities. The car first appeared in the hit Hollywood action movie Furious 7 in 2015. Lykan HyperSport, is the world’s fastest and most expensive ambulance.

However, This vehicle has an all-carbon-fiber body and many futuristic features. Such as the first 3D hologram holographic in-flight display, satellite navigation, and an Internet connection. It is the latest addition to the 331-strong DCAS fleet.

According to Khalifa bin Darrai, CEO of Dubai Corporation for Ambulance Services. The car is capable of reducing response times during emergencies and ensuring timely intervention because of its speed and capabilities.

Get all the latest UAE Market news only on Arab Market news. Your trust-able news portal brings all the latest news of UAE, Dubai, and world business news. 

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SpaceOps 2023 conference will take place in the UAE

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Dubai will host a global space conference in 2023

Organizers are hoping to host a global space conference in 2023, which will bring together leaders in the space industry. This is a biennial forum that helps space nations explore the latest technologies. Dubai will host a global space conference in 2023. Which will attract senior figures in the space industry for the first time.

An international forum takes place twice a year, helping space nations to learn about the latest technologies on offer. However, The Mohammed bin Rashid Space Centre, which organizes the event. It will focus on Investing in Space to Serve the Earth and Beyond.

In order to discuss the newest research topics, developments, and innovative technologies in the space sector, Director-General Salem Al Marri said, “Dubai SpaceOps is a unique opportunity for eastern and western experts to come together.”

The event offered delegates a “valuable opportunity to learn about all aspects of space mission operations.” “They can also learn about the latest technologies and opportunities in the sector.

ALSO READ: First female football commentator in UAE is a British teacher

The conference will offer delegates a unique opportunity

Think about how advanced space technologies can contribute to finding solutions for the future of mankind,” he said. According to him, the conference offers delegates a unique opportunity to explore all aspects of space mission operations.”

Space conferences give space agencies and private companies an opportunity to discover what the latest industry trends are, make announcements, and form new partnerships as well as secure deals and partnership agreements.

Last year ,the UAE hosted the International Astronautical Congress, one of the world’s largest space conferences. Lockheed Martin attending as well as helping space agencies and private companies discover new trends in the space industry.

Get all the latest UAE Market news only on Arab Market news. Your trust-able news portal brings all the latest news of UAE, Dubai, and world business news. 

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Creating fake accounts in UAE means severe Penalties.

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online fraud laws in uae

Don’t make a mistake by creating fake accounts in UAE. If you do that, then get ready to pay severe penalties. 

dont make fake accounts else face UAE tough laws

dont make fake accounts else face UAE tough laws

Creating fake accounts in the UAE of Social media, Gmail can lead you to trouble. Yes, Laws in UAE are more severe than you think. Spoofed accounts are not allowed in UAE. The Govt of the UAE is taking this matter seriously as they want to protect their people from fraud. Cybercrime Law in UAE is most robust and severe than most in the world. It is only to protect the people of the Nation. 

New Rules against Online frauds in UAE:

The latest regulations set for only frauds exemplify how the UAE works as a Nation. Tougher Penalties for email fraud or fake social media accounts. You cannot think about online fraud if you are living in UAE. Still, if you are daring to do that, get ready to stay in Jail for five long years and pay a fine of Dh2 million.

The new law of online frauds started in 2021 covers all cybercrime committed online. The punishment for each fraud deed online is stricter than ever. 

Severer punishments would stop people from committing such crimes even if the intent was for a dupe. The intention to take revenge is also some reason. Some people make accounts for their friends or families without understanding it is a punishment by law. If you are doing such things, don’t do that. Else you and your family member will come into trouble.

The motive behind these laws is to provide smooth Online work for business people and residents. Everyone wants to remain safe in this online global world. So UAE is taking this initiative to the next level in 2022. So if you are living in UAE, you are safe even in the Online world.

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