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UAE non-oil trade climbs to AED 2.945 trillion // From Seoul to Wuzhen: Korean Celebrities and Creators Spark a Water Town Slow-Living Trend // EU challenges TikTok video rankings over harmful content loops // AutoSwift secures close to A$10 million from Singapore’s X Star Technology to scale AI WINGMAN // NIA Highlights Three Exemplary Breakthroughs from National Innovation Awards, Driving Thailand Toward a Global ‘Innovation Nation’ // Republicans Struggling To Come Out Of Nov 3 Debacle To Prepare For 2028 Prez Polls // Bank of England flags sharper AI share correction risks // Rubio rejects prospect of imminent Iran peace breakthrough // Vasavan alleges one-man show by CM Satheesan // Nexawork AI Launches Custom Software for SMEs From RM19,900.00 // Sber announces results of GigaArt AI-art festival: Nearly half a million images // Public Protests Challenge Elected Power In Europe And India // BJP leader condemns cyber attacks over Mammootty wedding visit // Abu Dhabi property transaction value climbs 76.1 percent // PhotonPay Strengthens North American Regulatory Footprint with Canada’s RPAA Registration // Recognition under the U.S. Green Building Council’s rating system confirms the 22-residence tower is on track for full certification on completion // Setback for Usha in Olympic body // Trump directs Justice Department scrutiny of Democratic threats // Houthi missile barrage damages Aramco tower in Riyadh // Basheer sets Feb deadline for delayed ULCCS projects //

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YISHUV HADAAT, West Bank — With shoulder-length hair tumbling from beneath his knit skullcap, Hanamel Dorfman, a radical young Israeli settler, explains matter-of-factly on camera how hilltop settlement outposts like his own will continue to proliferate across the West Bank. From there, he says bluntly, Israelis will cross the Jordan River and start building on the other side. Reminded that beyond the river there is another sovereign […]

|By Arabian Post Staff| Dubai’s government owned property developer Limitless  will make an early payment of 2.07 billion dirhams ($564 million) to banks and trade creditors after reaching a second debt restructuring deal with them, Bloomberg reported. The company will pay 1.9 billion dirhams to banks this month, covering 43 percent of the outstanding loan amount, Limitless said in an e-mailed statement on Thursday. It will pay 163 million […]

NEW DELHI/MUMBAI Apple Inc chief Tim Cook met Prime Minister Narendra Modi on Saturday, concluding a four-day trip to India that could set the stage for Apple’s expansion plans in one of the world’s fastest growing smartphone markets. Modi and Cook met for an hour in central Delhi and discussed Apple’s plans for its India business, including the possibility of manufacturing and retailing in the country. Apple […]

The SWIFT logo is pictured in this photo illustration taken April 26, 2016. Reuters/Carlo Allegri/Illustration/File Photo LONDON/CHICAGO Shortly after 7 p.m. on January 12, 2015, a message from a secure computer terminal at Banco del Austro (BDA) in Ecuador instructed San Francisco-based Wells Fargo to transfer money to bank accounts in Hong Kong. Wells Fargo complied. Over 10 days, Wells approved a total of at least 12 […]

A new developer portal and Android SDK (software developer kit) for SoftBank’s robot platform are aimed at convincing developers to build apps for the Pepper humanoid robot. Although the platform was first announced two years ago, the decision to open it up to Android apps should help greatly expand the base of app developers working on Pepper programs. “By making Pepper compatible with Android, Android application developers […]

|By Matein Khalid| If ever there was a year to win or lose money big time in emerging markets, 2016 was it. As an investor in the world’s dark alleys (the Third World rebranded as EM!), I am forced to dissect geopolitical, government/monetary policy, foreign exchange, flows, positioning and current account, volatility and credit cycle trends across emerging markets to develop money making strategies. It helps that I […]

The SWIFT logo is pictured in this photo illustration taken April 26, 2016. Reuters/Carlo Allegri/Illustration/File Photo Major U.S. banks are scrutinizing security of the SWIFT messaging network following cyber attacks in Bangladesh and Vietnam involving fraudulent transfer requests, according to media reports on Tuesday. JPMorgan Chase & Co (JPM.N) has limited SWIFT access to some employees amid questions about the breaches at two Asian banks, The Wall […]

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Warren Buffett’s Berkshire Hathaway Inc (BRKa.N) revealed a more than $1 billion stake in Apple Inc (AAPL.O) in a rare foray into the technology sector, which Buffett has largely shunned apart from a poorly performing investment in IBM (IBM.N). Shares of Apple rose 3.7 percent on the news, closing up $3.36 at $93.88. Berkshire made its investment in the first quarter, before the iPhone maker in April […]

Markets move ‘sideways-to-soft’ ahead of Ramadan amid fears international markets will not be robust Dubai: UAE indices fell on Monday, extending losses for another session as traders repositioned themselves ahead of the Ramadan season. The Dubai Financial Market General Index (DFMGI) closed 0.43 per cent lower at 3,290.37, while the Abu Dhabi Securities Exchange General index closed 0.66 per cent lower at 4,345.31. “UAE markets are moving […]

|By Arabian Post Staff| Saudi Arabia ranks among the top dozen foreign holders of U.S. debt, the Treasury Department disclosed, breaking its silence on the issue for the past four decades. “The stockpile of the world’s biggest oil exporter stood at $116.8 billion as of March, down almost 6 percent from a record in January, according to data the Treasury disclosed Monday in response to a Freedom-of-Information […]

|By Arabian Post Staff| Emirates Islamic and French financial institution Natixis announced the completion of a US$50 million Collateralised Murabaha deal on the Nasdaq Dubai Murabaha Platform. It is the largest collateralised Murabaha transaction closed by Emirates Islamic this year, and the first of its kind executed on the Nasdaq Dubai Murabaha Platform. A joint initiative between Nasdaq Dubai and Emirates Islamic, Nasdaq Dubai’s Murabaha platform provides […]

|By Arabian Post Staff| Dubai ports operator DP World Ltd. has selected more than a dozen banks for its sale of Islamic bonds in a deal that may be announced as early as Monday, Bloomberg reported quoting two people familiar with the issue. A benchmark-sized issue usually raises at least $500 million. The agency said 15 lenders have been hired for the offering of dollar-denominated, benchmark-sized securities, said […]

Commuters pass by the front of the Bangladesh central bank building in Dhaka March 8, 2016. Reuters/Ashikur Rahman/Files   DHAKA A Bangladesh government-appointed panel investigating the theft of $81 million from the country’s central bank has found that SWIFT, the international banking payments network, committed a number of mistakes in connecting up a local network, the panel head said on Sunday.   “We have shown that SWIFT […]

The SWIFT logo is pictured in this photo illustration taken April 26, 2016. Reuters/Carlo Allegri/Illustration/File Photo After an $81 million cyber heist at the Bangladesh central bank, the Federal Reserve Bank of New York said there was no problem with its procedures for approving fund transfers, according to a letter released on Friday by a U.S. lawmaker who had questioned those methods. U.S. Representative Carolyn Maloney had […]

The SWIFT logo is pictured in this photo illustration taken April 26, 2016. Reuters/Carlo Allegri/Illustration/File Photo SWIFT, the global financial messaging network that banks use to move billions of dollars every day, warned on Thursday of a second malware attack similar to the one that led to February’s $81 million cyber heist at the Bangladesh central bank. The second case targeted a commercial bank, SWIFT spokeswoman Natasha […]

|By Arabian Post Staff|The heads of governments of two tax havens, under spotlight for disclosures of corruption and black money, advised major world players including the US to set their own houses in order before bullying small territories  like theirs. Addressing an anti-corruption summit in London on Thursday, Allan Bell, chief minister of the Isle of Man, and Cayman Islands Premier Alden McLaughlin called on the U.S. and […]

  Reuters/Ralph Orlowski/Files   FRANKFURT The European Central Bank will set up a database to register incidents of cyber crime at commercial banks, aiming to create an early warning and analysis system for big lenders, it told a German newspaper on Thursday.   Attackers earlier this year stole $81 million from a Bangladesh central bank account at the New York Fed in one of the biggest-ever cyber […]

The SWIFT logo is pictured in this photo illustration taken April 26, 2016. Reuters/Carlo Allegri/Illustration/File Photo FRANKFURT SWIFT’s payment network was not hacked in the $81 million heist on the Bangladesh central bank earlier this year, SWIFT’s chief executive said on Thursday, adding it was unlikely to be the last such attack on a bank. Gottfried Leibbrandt said SWIFT’s network, used by firms and institutions across the […]

|By Matein Khalid| The April payrolls data demonstrated that US economic growth has hit a soft patch. The US economy only added 160 jobs in April, less than the expected 203,000 average in the first three months of 2016. One disappointing data point does not imply a macroeconomic trend reversal since the US economy added 2.8 million jobs between March 2015 and March 2016. Statistical and measurement errors […]

|By Arabian Post Staff| Iran’s leading private bank, Bank Mellat, won a major legal battle against the UK Treasury in its claim of $4 billion damages for the sanctions imposed on it in 2009, when the English Court of Appeal, presided by Lord Chief Justice Thomas of Cwmgiedd, upheld the bank’s claim that damages should cover loss to future income as well. Bank Mellat brought this claim […]

|Arabian Post Special|The leaked Panama Papers figure over 7700 offshore entities from the United Arab Emirates, which include more than 180 intermediaries, the latest release from the whistle blower reveals. Most of these are registered in British Virgin Islands and Panama. These entities belong to various nationalities, but a large number of them feature Indian names.  Considering the large presence of Indian community in the UAE and […]

The SWIFT logo is pictured in this photo illustration taken April 26, 2016. Reuters/Carlo Allegri/Illustration/File Photo SWIFT on Monday rejected allegations by officials in Bangladesh that technicians with the global messaging system made the nation’s central bank more vulnerable to hacking before an $81 million cyber heist in February. The comments were in response to a Reuters story that cited Bangladeshi police and a central bank official […]

|By Arabian Post Staff| The UAE has earned the distinction of being the fastest growing market in the world for card transactions. The UAE is a clear front runner in a rapidly expanding regional payment environment as card transactions experienced an estimated 10 percent growth in 2015 compared to the previous year, amid a total 24 per cent growth in the MEA region, making it the fastest expansion rate in card transactions in […]

|By Arabian Post Staff|In further signs of consolidation by pro-reform Saudi Deputy Crown Prince Mohammed bin Salman, Saudi Arabia’s King Salman ordered the replacement of his central bank chief and Oil Minister Ali Al-Naimi, the most influential personality of the oil industry yet. The moves  are understood to be influenced by the sweeping economic changes spearheaded by the Deputy Crown Prince as part of his visionary plan […]

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Just in:
UAE non-oil trade climbs to AED 2.945 trillion // AutoSwift secures close to A$10 million from Singapore’s X Star Technology to scale AI WINGMAN // Rubio rejects prospect of imminent Iran peace breakthrough // Vijayan seeks immediate reversal of decision // EU challenges TikTok video rankings over harmful content loops // Setback for Usha in Olympic body // Abu Dhabi property transaction value climbs 76.1 percent // Gulf states formalise joint railway operating framework // Satheesan resists Anil as new state Cong chief // PhotonPay Strengthens North American Regulatory Footprint with Canada’s RPAA Registration // Bank of England flags sharper AI share correction risks // NIA Highlights Three Exemplary Breakthroughs from National Innovation Awards, Driving Thailand Toward a Global ‘Innovation Nation’ // Vasavan alleges one-man show by CM Satheesan // Recognition under the U.S. Green Building Council’s rating system confirms the 22-residence tower is on track for full certification on completion // Setback for Usha in Olympic body // From Seoul to Wuzhen: Korean Celebrities and Creators Spark a Water Town Slow-Living Trend // Trump directs Justice Department scrutiny of Democratic threats // Abu Dhabi court holds NMC executives liable for fraud // BJP leader condemns cyber attacks over Mammootty wedding visit // Trump’s Defeat In Midterm May Lead To Both Challenges And Opportunities For Indian Economy //