LOS ANGELES —
Facebook Inc. is set to open an office in Dubai next week, its first location in the Middle East.
The company announced the news Wednesday by inviting journalists to an event scheduled for May 30.
While the Menlo Park, Calif.-based company said details of the new office would not be released until the event, the office would add to its collection of about 30 outposts scattered across the globe, according to the Associated Press.
Facebook was vital to 2011’s so-called Arab Spring, which brought about democratic change for several nations in the region, so it’s an interesting move by the social network giant.
The news of the Middle East office comes on just Facebook’s fourth day in the public market.
Facebook began trading on the Nasdaq Stock Market last Friday, but has suffered poor results thus far. In each of the past three days, the social network has closed below the day’s opening price, but was holding steady midway through the trading day Wednesday.
Business
Facebook to open office in Dubai
- Business
-
-
Stock market falls as traders fear stimulus cuts
Stocks are falling after the Federal Reserve gave a slightly more optimistic outlook for the U.S. economy, which investors took as a hint that the bank was nearer to a decision to reduce its economic stimulus program.
-
Top UK court overturns sanctions on Iranian bank
Britain’s Supreme Court quashed sanctions against an Iranian bank penalized over its alleged links to Iran’s nuclear weapons program, saying Wednesday that Bank Mellat had been arbitrarily singled out.
-
Netflix to expand to Netherlands later this year
Netflix is going Dutch.
-
World Bank highlights climate-poverty link
The World Bank says it will increasingly view its efforts to help developing countries fight poverty through a “climate lens.”
-
Japan formally OKs new nuke safety requirements
Japan’s nuclear watchdog formally approved a set of new safety requirements for atomic power plants Wednesday, paving the way for the reopening of facilities shut down since the Fukushima disaster in a move critics charge is too hasty.
-
World Food Prize goes to 3 biotech scientists
The World Food Prize Foundation on Wednesday took the bold step of awarding this year’s prize to three pioneers of plant biotechnology whose work brought the world genetically modified crops.
-
Investors look for answers on economy from Fed
Worry and speculation have consumed investors since Chairman Ben Bernanke spoke to Congress last month about the Federal Reserve’s drive to keep long-term interest rates at record lows.
-
Dish won’t submit revised bid for Sprint
Satellite TV operator Dish Network Corp. said Tuesday it would not submit a revised bid for Sprint, leaving the path open for the wireless carrier to accept what it already considers a superior offer from Japan’s Softbank.
-
West Virginia mine safety lab creates disasters to train
Orange flames lick at the roof of the coal mine, heat building and visibility dropping as smoke begins to fill the underground passageway.
-
Stocks edge lower as investors wait on Fed
Stocks edged lower in early trading on Wall Street Wednesday as investors waited for word from the Federal Reserve.
- More Business Headlines
-
Raw: Baby White Rhino Debuts at Australian Zoo
Time Lapse: Rebuilding Bridge Post-collapse
Ohio Woman Accuses 3 of Holding Her Captive
Hunt for Ex-Teamster Boss Hoffa's Remains Ends
Aug. Trial Set for Ohio Man in Triple Kidnapping
Car Crash in NYC's East Village Injures 8
Obama Renews Call for Nuclear Reductions
Raw: Car Jumps Curb in NYC, Injures 8
Unusual Heat Wave Bakes Alaska
Raw: German President Welcomes President Obama
Raw: Arizona Wildfire Scorches 8 Square Miles
Raw: Huge Fire Near Yosemite National Park
Kid Couture: Spending Big Bucks on Babies
