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Kuala Lumpur, 11 May 2017  The fifth edition of Islamic Financial Services Board’s (IFSB) annual Islamic Financial Services Industry Stability Report 2017 examines the implications of the recent economic developments and changes in the global regulatory and supervisory frameworks on the global Islamic financial services industry (IFSI). Amidst a challenging external environment brought on by the changing policy directions and uncertainties in the global economic landscape, institutions […]

The UAE hotel group Rotana opened its second property in Erbil, Iraq, this week. The Erbil Arjaan by Rotana is an alcohol-free property situated on the northern edge of the city. The Erbil Rotana, which opened six years ago, is on the western side of the city, and both are a 10-minute drive from the airport. The new hotel has 168 hotel apartments, two restaurants, extensive office […]

ABUJA The 82 girls freed by Boko Haram on Saturday after being held captive for three years are still waiting to be reunited with their families, while all the girls found last year will be heading back to school in September, Nigerian officials said. Twenty four girls, who were among around 270 kidnapped by the Islamist militant group from the town of Chibok in northeast Nigeria in […]

In this Wednesday, Sept. 14, 2016, file photo, a self-driving Uber car stops at a red light on Liberty Avenue through the Bloomfield neighborhood of Pittsburgh. In just a few years, well-mannered self-driving robotaxis will share the roads with reckless, law-breaking human drivers. The prospect is causing migraines for the people developing the robocars and is slowing their development. But experts say eventually the cars will coexist […]

Moon Jae-in’s presidency of South Korea began with admirable pledges to handle an unpredictable and belligerent next-door neighbour, North Korea, and tackle economic problems. He will also tackle broader regional tensions, China’s outrage at the United States THAAD missile defence system in South Korea and rising fears over that same northern neighbour‘s nuclear programme. But one other challenge may be almost as crucial in determining the success […]

A thief, your kids skipping school or paranormal activity? That’s the question that Lighthouse aims to answer with its new interactive assistant. By combining sophisticated sensors with computer vision technology, the Lighthouse team hopes to deliver an experience that brings more day-to-day value than a mere home security solution. Coming out of Stealth today, the company is equipped with $17 million in venture capital financing from Eclipse Ventures, Playground Global, […]

By Ben Blanchard | BEIJING BEIJING When leaders of 28 nations gather in Beijing next week for a summit to map out China’s ambitious new Silk Road project, one question is likely to be on attendees’ minds – what exactly is the Belt and Road Initiative? Proposed in 2013 by President Xi Jinping to promote a vision of expanding links between Asia, Africa and Europe underpinned by […]

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A consortium led by Macquarie Group is buying a controlling stake in one of Australia’s biggest public energy companies in a deal that will deliver a A$7.6bn windfall to the New South Wales government.  The sale of a 50.4 per cent stake in Endeavour Energy to the Advance Energy consortium completes a trio of energy sales in NSW under an “asset recycling” policy, which the US administration […]

YANGON The International Committee of the Red Cross has asked Myanmar to let aid workers get access to people caught up in conflicts that have displaced tens of thousands despite a transition that brought Nobel laureate Aung San Suu Kyi to power. Authorities have blocked the ICRC from areas under the control of ethnic minority forces and from visiting some prisoners, the organisation’s president, Peter Maurer, told […]

11 May 2017 The Bahrain based leading Islamic banking group, Al Baraka Banking Group B.S.C (ABG) announced that it achieved a total operating income of US$ 249 million during the first quarter of 2017 and the total financing and investments recorded slight increases at the end of March 2017 compared to end of December 2016. Al Baraka Banking Group has continued during the first quarter of 2017, […]

By Nichola Saminather | SINGAPORE SINGAPORE Asian stocks rose early on Thursday, getting a lift from a record high close on MSCI’s global stocks benchmark after strong gains in oil prices buoyed energy stocks globally. Oil prices held on to 3 percent-plus overnight gains, their biggest one-day jump since Dec. 1, following a steep drop in U.S. inventories and support from Iraq and Algeria for an extension […]

An unabashed Donald Trump called for warmer US relations with Russia on Wednesday as his firing of FBI director James Comey sparked pressure from Democrats for an independent probe of his election campaign’s alleged ties to Moscow. Mr Comey’s dismissal shook Washington, igniting the biggest crisis of Mr Trump’s presidency as opponents amplified allegations throughout the day that the president was seeking to frustrate the FBI probe. […]

Snap fell short of Wall Street’s expectations in its first quarterly results as a public company, sending its shares tumbling by almost a quarter in value in after-hours trading to hit a new low. The maker of the Snapchat app reported revenue growth of 286 per cent to $149.6m but analysts had been expecting almost $10m more than that. Losses were also wider than forecasts. Daily active […]

10 May 2017 BP today announced that it has started gas production from the first two fields, Taurus and Libra, of the West Nile Delta development in Egypt. The project was delivered eight months ahead of start-up schedule and under budget. First gas was exported to Egypt’s national grid on 24 March 2017 and the commissioning of all nine wells of the development’s first two fields and […]

WASHINGTON Minneapolis Federal Reserve Bank President Neel Kashkari said on Wednesday that there should not be any relaxation of regulations that have tightened oversight of Wall Street. “Progress has been made. I wouldn’t want to roll that back off the biggest banks,” Kashkari said at an event in Minneapolis, when asked about the fate of the Dodd-Frank reform act that was passed in part to prevent big […]

BEIRUT: A top Syrian Kurdish official on Wednesday welcomed the US decision to arm Kurdish fighters with heavier weapons, saying it would “legitimize” the force as it prepares to march on Raqqa, the de facto capital of the Daesh group.But Turkey’s Deputy Prime Minister Nurettin Canikli said the decision, announced by the Trump administration Tuesday, was “unacceptable.”The US said it would provide heavier arms to the Kurdish-led […]

Manama, 10 May 2017 GFH Financial Group (GFH) announced today that Islamic International Rating Agency (IIRA) has upgraded its national scale ratings by a notch to ‘BBB-(bh)/A3(bh)’ (TripleB Minus/ A Three) with a ‘Stable’ outlook and maintained its international scale ratings at ‘BB/B’ (Double B / Single B),  1`. According to the agency’s report, the rating action recognizes recent positive developments that have reinforced the Group’s balance […]

Flock’s Bhavin Turakhia: “Good software should follow the principle of, ‘don’t make the user think’.” Image: Flock Helping teams communicate and share information better has been a challenge that many different enterprise messaging apps have tried to solve, from Slack and Microsoft’s Yammer, to Cisco’s Spark and Facebook’s Workplace. Another new entrant to this space is Flock, which boasts customers Whirlpool, Tim Hortons, and Victorinox. ZDNet recently […]

Good morning. Here’s our morning roundup of all the media news you need to know. Want to get this briefing in your inbox every morning? Subscribe here. Sean Hannity, the eight-figure archetype of selective moral outrage, last night charged the press with going “completely insane” over the James Comey firing. Hannity accused it of “selective moral outrage,” proving it takes one to know one amid wall-to-wall Comey […]

The Indian government issued an ordinance at the end of last week laying out some new powers for the Reserve Bank of India, powers which are aimed at chipping away at the country’s mammoth and thoroughly discussed bad loan problem. Here’s CreditSights with a brief explanation: In essence, two additional sections ­35AA and 35AB ­ were introduced into the Banking Regulation Act. 35AA will allow the government […]

DUBAI // Multiple accidents on some of the emirate’s main routes caused delays during the commute on Wednesday morning. Two separate accidents on Sheikh Zayed Road near the Al Manara Road interchange resulted in extensive queues near Mall of the Emirates. Elsewhere, an accident on Hessa Street caused delays from the Al Asayal Street exit in the direction of Al Khail Road. There were also the usual […]

Israel was clearly trying to undermine the mass hunger strike, which prisoners say is aimed at better conditions in confinement. The strike is also meant to rally Palestinians, who have carried out numerous protests in support of the prisoners and plan another general strike in the occupied West Bank on Thursday. Continue reading the main story In an interview here in the Palestinians’ administrative capital, Ms. Barghouti […]

Enhancing Kuwait’s arbitration legal framework in order to render Kuwait a more attractive arbitration venue in the region Kuwait – 10 May 2017 ASAR – Al Ruwayeh & Partners (ASAR), Kuwait’s leading corporate, litigation and finance law firm, co-organized a leading seminar on arbitration with the International Court of Arbitration of the International Chamber of Commerce – Paris (ICC). The ICC is one of the oldest and […]

The Local Government Association of Queensland (LGAQ) has announced a live trial of drone technology to be used for disaster management, utilising Telstra’s 4G network and a combination of three drone operators and four software platforms for the tests. The combination of drone operators and software platforms will allow the drones to fly beyond visual line of sight (BVLOS); however, current legislation still requires drones to be […]

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