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Growing preference for debit cards is driving more Singapore shoppers towards electronic payments, with just 11 percent forking out physical cash. Some 87 percent of consumers in the city-state expressed preference for e-payments, which was the highest in the Southeast Asian region, according to the 2016 Visa Consumer Payment study, conducted by Toluna. The survey polled 500 Singaporeans on their attitudes towards various payment modes, including cash, […]

Vodafone redials its Indian impairment numbers. FT Opening Quote, with commentary by Matthew Vincent, is your early Square Mile briefing. You can sign up for the full newsletter here. Hailing from the country that gave India cricket, Victorian railway architecture and a penchant for bureaucracy, Vodafone might have expected a little goodwill on the subcontinent. Instead, India has given the British mobile phone operator a price war, […]

By Ami Miyazaki and Taiga Uranaka | TOKYO TOKYO Japan’s government said on Tuesday it wanted Toshiba Corp (6502.T) and partner Western Digital Corp (WDC.O) to cooperate, expressing concern about an escalating dispute between the two that threatens to upend the sale of Toshiba’s chip unit. Western Digital sought international arbitration this week to stop Toshiba from selling the unit without its consent, arguing that the Japanese […]

DocuSign has revealed a data breach that has allowed malicious actors to conduct a wide-ranging phishing campaign. In a notice on its website, DocuSign said it found the breach when investigating the cause of an increase in DocuSign-impersonating phishing emails. “A malicious third party had gained temporary access to a separate, non-core system that allows us to communicate service-related announcements to users via email,” the company said. […]

Halfway through what would be a nine-minute bidding war for a patinated bronze female head by Constantin Brancusi, paddle 281 shot above a standing-room-only crowd at Christie’s in midtown Manhattan. The slow, steady auction for the ovoid sculpture of a sleeping woman’s face turned aggressive when, minutes in, Tobias Meyer, the former chief auctioneer for Sotheby’s, entered a $34m bid with a phone clutched to his ear. […]

By Dustin Volz and Jim Finkle | WASHINGTON/TORONTO WASHINGTON/TORONTO Cyber security researchers have found technical evidence they said could link North Korea with the global WannaCry “ransomware” cyber attack that has infected more than 300,000 computers in 150 countries since Friday. Symantec (SYMC.O) and Kaspersky Lab said on Monday that some code in an earlier version of the WannaCry software had also appeared in programs used by […]

JERUSALEM Israel wants the White House to explain why a U.S. diplomat preparing President Donald Trump’s visit to Jerusalem said Judaism’s Holy Western Wall in its Old City is part of the Israeli-occupied West Bank, an Israeli official said on Monday. Israel considers all of Jerusalem as its indivisible capital, a claim that is not recognised internationally, and the Western Wall – the holiest prayer site for […]

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Your daily guide to community and cultural activities across the Emirates for May 16, 2017, including performances, festivals, art exhibitions, film screenings, health and fitness events, talks, classes, workshops and family fun. Aarti Jhurani rounds up 10 things to do today in the UAE. Want to see your event listed here? Email us with the details and contact information at [email protected] newslide Abu Dhabi Fitness class Register […]

The blockbuster listing of Ant Financial, the payments affiliate of Alibaba, has been put on ice until the end of next year at the earliest, according to bankers. Market players have been counting on Ant, which runs China’s popular Alipay mobile payments service, to be the star in this year’s initial public offerings calendar. It was valued at $60bn in its last financing round in April 2016, […]

By Jonathan Stempel | NEW YORK NEW YORK Warren Buffett’s Berkshire Hathaway Inc (BRKa.N) on Monday said it added to its sizable investments in American Airlines Group Inc (AAL.O) and Southwest Airlines Co (LUV.N), and shed its stake in Twenty-First Century Fox Inc (FOXA.O). In a regulatory filing, Berkshire said that in the first quarter its American stake grew 8 percent to 49.3 million shares worth $2.08 […]

Criminal hacking groups have repurposed a second classified cyber weapon stolen from US spies and have made it available on the so-called dark web after the success of the WannaCry attack that swept across the globe on Friday. The hacking tool, developed by the US National Security Agency and codenamed EsteemAudit, has been adapted and is now available for criminal use, according to security analysts. As with […]

Abu Dhabi’s Mubadala Investment Co. plans to invest as much as $15 billion in SoftBank Group Corp.’s Vision Fund and start two new venture capital funds to build its technology holdings. The SoftBank fund will be “wrapped up” in two to three weeks with about $95 billion of commitments, according to Ibrahim Ajami, head of venture capital at Mubadala Capital, the sovereign wealth fund’s investment arm. Mubadala plans to […]

Puerto Rico’s once-influential Government Development Bank has won agreement from some of its creditors to cut its debt burden and restructure its obligations. The organisation, which for years acted as the territory’s primary fiscal agent and evolved into a lender of last resort in times of distress, will transfer its assets into a new entity and issue new bonds in a deal that will see creditors take […]

U.S. stocks opened higher on Monday as a rise in oil prices boosted energy stocks, soothing some nerves following a massive cyber attack that locked up 200,000 computers in more than 150 countries. Oil hit a three-week high after top exporters Saudi Arabia and Russia said supply cuts needed to last into 2018, a step toward extending an OPEC-led deal to support prices for longer than originally […]

BEIJING Russian President Vladimir Putin said on Monday that intelligence services should beware of creating software that can later be used for malicious means – a reference to global ‘ransomware’ attacks that researchers say exploited a hacking tool built by the U.S. National Security Agency. Speaking to reporters in Beijing, where he is taking part in a conference, Putin said that there was no significant damage to […]

France has today announced a 31-year government bond, in a sign of further market optimism after the victory of Emmanuel Macron in the recent presidential election. The debt, which is expected to price later this week, had been previously planned as part of the country’s funding programme for the year. The timing of the syndicated deal comes just over a week after Mr Macron’s victory in the […]

By Conor Humphries | DUBLIN DUBLIN JPMorgan Chase (JPM.N) has agreed to buy a Dublin building with room for 1,000 staff in the first sign of a financial services company expanding significantly in Ireland since the government began a major campaign to attract firms in the wake of Brexit. The U.S. investment bank will acquire a 130,000 square foot (12,000 square meter) building at the Capital Dock […]

ABIDJAN Ivory Coast’s banking association, the APBEF, ordered all banks in the West African nation to remain closed on Monday amid worsening unrest linked to a four-day nationwide army mutiny, banking and business officials said. “There was an emergency meeting this morning and the APBEF took the decision that, for security reasons, all the banks would stay closed,” a senior official with Banque Atlantique, who asked not […]

The cyberattack crippled IT systems and forced doctors and nurses to work with pen and paper notes. Image: iStock NHS hospitals are still struggling in the fight against a global ransomware attack, with computer systems in several hospitals locked three days after the initial outbreak and previously unaffected hospitals revealed to have fallen to WannaCrypt ransomware. During the weekend more than 200,000 victims in over 150 countries […]

Italy’s Atlantia has launched a bid to buy its Spanish rival Abertis in a deal that values the target at €16.3bn and would create one of the world’s largest toll road and infrastructure companies. Atlantia announced its bid on Monday even though it did not have the full backing of the Abertis cornerstone shareholder Criteria, the Barcelona-based holding of the powerful Caixa foundation. The offer is structured […]

Dubai has secured $3 billion credit facilities for the expansion of its two airports. The Department of Finance for the Government of Dubai, the Investment Corporation of Dubai and Dubai Aviation City Corporation, advised by HSBC, announced the funding agreement and the establishment of Airport Financing Company FZE (FINCO), the long-term funding platform for Dubai Airports, according to news agency WAM. The financing will be used for […]

In November, Mr. Sadeghi gave a speech in Parliament accusing the head of the judiciary, Sadegh Amoli-Larijani, of maintaining a secret bank account to collect diverted public funds. After the speech, representatives of the judiciary tried to arrest him, but were stopped when dozens of people gathered in front of his house to protect him. Continue reading the main story Nevertheless, change for Mr. Sadeghi and many […]

15 May 2017 The legal departments at Pepsi-Cola International, Total Marketing Middle East and Qatar Financial Centre Authority were among the big winners at the Middle East Legal Awards, which took place at The Ritz-Carlton, Dubai, on Thursday (11 May). The trio were named Legal Department of the Year in the large team, small team and government, department, agency or public body categories respectively. The award for […]

Cairo, May14th – 2017  Emirates NBD Egypt is pleased to announce that it has participated in an EGP 1.8 billion syndicated loan deal in favor of the state-owned petroleum company; Egyptian National Gas Holding Company (EGAS) to help significantly boost gas production in Egypt. Emirates NBD Egypt’s contribution amounted to EGP 220 million in the five year syndicated deal. With Banque du Caire as the Initial Mandated […]

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