SAN FRANCISCO — A half-billion-dollar patent deal between Facebook and Microsoft was announced on Monday as the social network hardened its defenses ahead of going public with a stock offering on the Nasdaq.
Facebook also arranged to license the remaining 275 remaining patents or applications in the portfolio being bought by Microsoft, which gets the right to use the patented technology going to the California-based social network.
Struggling airline gets OK from Cabinet to go private
KUWAIT CITY — Kuwait’s Cabinet has approved a draft law to privatize struggling state carrier Kuwait Airways within three years.
Minister of Communications Salem al-Uthaina told the official Kuwait News Agency late Sunday that the measure calls on the airline’s board to sell a 35 percent stake to the highest bidder.
The draft law has been referred to the country’s legislature.
An attempt to privatize the airline fizzled last year when the Cabinet recommended the airline be restructured before pursuing the sale of a 35 percent stake.
The airline is hurting financially as it struggles to compete with newer rivals such as Dubai’s Emirates Airline and Qatar Airways.