BRUSSELS: Two years after agreeing to a self-regulatory code of practice to tackle disinformation, Facebook, Alphabet’s Google, Twitter and other tech rivals must try harder to be more effective, the European Commission said on Thursday.
Fake news related to COVID-19 has accelerated calls for social media to be more proactive in combating the issue.
The companies, including Mozilla and trade bodies for the advertising industry, signed up to the code in 2018 in a bid to stave off more heavy-handed regulation. Microsoft and TikTok subsequently joined the group.
There are, however, several shortcomings in the code following an assessment of its first year in operation, the commission said, according to a report seen by Reuters.
“These can be grouped in four broad categories: inconsistent and incomplete application of the code across platforms and member states, lack of uniform definitions, existence of several gaps in the coverage of the code commitments, and limitations intrinsic to the self-regulatory nature of the code,” the report said.
The commission vice president for values and transparency, Vera Jourova, called for more action to counter new risks.
“As we also witness new threats and actors the time is ripe to go further and propose new measures. The platforms need to become more accountable and transparent. They need to open up and provide better access to data, among others,” Jourova said.
Jourova is currently working on a European Democracy Action Plan to make democracy more resilient to digital threats.
The commission is also set to propose new rules called the Digital Services Act by the end of the year which will increase social media’s responsibilities and liability for content on their platforms.
Facebook, Google, Twitter urged by EU to do more against fake news
https://arab.news/6y6mv
Facebook, Google, Twitter urged by EU to do more against fake news
- Fake news related to COVID-19 has accelerated calls for social media to be more proactive in combating the issue
Semafor targets Gulf expansion after first profitable year
- Digital news brand generates $2m in earnings on $40m of revenue in 2025, and raises $30m in new financing
- Platform aims to be the ‘business and financial news brand of record for the Gulf,’ CEO says, and to ‘blanket the world’ within 2 years
DUBAI: Digital news platform Semafor generated $2 million in earnings in 2025 before interest, taxes, depreciation and amortization, on revenue of $40 million, marking its first year of profitability.
It also closed $30 million in new financing, which it plans to use to grow its editorial operations and live events business.
These achievements are particularly notable at a time when the global news industry is facing declining revenues and the erosion of audience trust, the company said.
Justin B. Smith, the company’s co-founder and CEO, told Arab News that Semafor’s model and approach is distinguished by several factors, which can be encapsulated by its vision of building a news product to “serve consumers that are increasingly not trusting news, but also designed with a business model that could deliver sustainable economic advantage.”
Following its first profitable year and armed with new funding, Semafor, founded in 2022, now plans an accelerated phase of global expansion with a focus on scaling editorial output and global convenings.
The company said it will broaden its publication schedule in the year ahead. Semafor Gulf and Semafor Business will become daily publications as the platform increases the frequency of its “first-read” services, which are daily briefings designed to showcase “front page” news and intended to serve as the “first read” for audiences, Smith said.
The Gulf edition of Semafor launched in September 2024, with former Dow Jones reporter Mohammed Sergie as editor. In 2025 Matthew Martin was appointed its Saudi Arabia bureau chief.
Semafor’s brand slogan is “intelligence for the new world economy” and “the Gulf is the epicenter of the new world economy,” Smith said. Currently, its Gulf operation employs eight journalists, based in the UAE and Saudi Arabia, and as it moves to a daily publishing schedule it plans to significantly bolster its editorial team, both in existing markets and new ones, such as Qatar.
Semafor is “obsessed with the business, financial and economic story” in the region and aims to become “the business and financial news brand of record for the Gulf,” Smith said.
In the US, Semafor DC, currently published daily, will move to a twice-a-day format in March. In addition, the company’s flagship annual Semafor World Economy platform in Washington will expand this year from a three-day event to five days, with extended programming. The event, in April, is expected to attract more than 400 global CEOs, more than double the number that took part in 2025.
In addition to the US and the Gulf, Semafor currently operates in Africa. It held its first event in the Gulf region last month, during Abu Dhabi Finance Week, and said it is now looking to grow its events footprint across the Gulf, and into Asia. It will launch a China edition next month, its first foray into Asia, and plans to launch in Europe in 2027, followed eventually by Latin America.
Within the next two years, Semafor aims to have “blanketed the whole world” and become a mature, global intelligence and news brand competing with the “greatest legacy business and financial news brands in the world,” Smith said.
“Our goal is to become the leading global intelligence and news company for the world, founded on independent, high-quality content and convenings,” he added.
