Social enterprise Proximity Designs’s 3D printer is making high technology accessible to Myanmar’s impoverished farmers Whizzing across a blue-lit platform with a whirr and a squeak, liquid plastic emanating from its chrome tip, the 3D printer seems a far cry from the muddy, crop-filled fields that fringe Yangon. But in an industrial park south of Myanmar’s commercial hub, the advanced technology is now being used to design […]
By Michael Shields and Arno Schuetze | ZURICH/FRANKFURT ZURICH/FRANKFURT Credit Suisse and Deutsche Bank have been hit with a combined penalty of more than $12 billion over the sale of U.S. toxic debt, further hampering two of Europe’s leading investment banks as they grapple with falling profits. The penalty puts them at a further disadvantage to larger U.S. rivals. Credit Suisse (CSGN.S) agreed in principle to pay […]
Your daily guide to community and cultural activities across the Emirates for December 23, 2016, including performances, festivals, art exhibitions, film screenings, health and fitness events, talks, classes, workshops and family fun. newslide Abu Dhabi Festive fun Visit Al Maryah Island for the Winter Wonderland, featuring cosy winter cottages hosting activities including bauble-decorating, cracker-making and gingerbread-house-decorating. A skating rink and snow park offer a wintry feel, while […]
Nearly a decade ago, Warren Buffett bet Protege Partners, a fund of hedge funds, that over the course of 10 years the S&P would outperform Protege’s returns net of all fees, costs and expenses. To make it real, the loser agreed to pay $1 million to the charity of the winner’s choice. At this past year’s annual meeting, Warren Buffett provided an update on the now […]
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. It could be a dinner akin to the disastrous ones in “Meet the Parents,” “Talladega Nights” and “Wedding Crashers.” Or maybe “American Beauty,” where newly unemployed Kevin Spacey turns to his wife (Annette Bening) and daughter (Thora Birch) and says […]
By Karen Freifeld and Arno Schuetze | NEW YORK/FRANKFURT NEW YORK/FRANKFURT Deutsche Bank (DBKGn.DE) has agreed to a $7.2 billion settlement with the U.S. Department of Justice over its sale and pooling of toxic mortgage securities in the run-up to the 2008 financial crisis. The agreement in principle, announced by Deutsche Bank’s Frankfurt headquarters early Friday morning, offers some relief to the German lender, whose stock was […]
More than four decades after a sweeping British military withdrawal from bases “east of Suez”, the UK is scaling up its defence engagement in the Gulf and Asia in what analysts regard as a recognition of the region’s growing global importance. Britain is reopening a naval support facility in Bahrain, creating a permanent army presence in Oman and establishing new defence staff centres in Dubai and Singapore. […]
Photo An Airbus A321 featuring the Iranian flag at an Airbus plant in Hamburg, Germany, this week. The acquisition of modern planes is an important achievement for President Hassan Rouhani of Iran. Credit Fabian Bimmer/Reuters The European aircraft manufacturer Airbus completed a deal on Thursday to sell 100 jetliners to Iran, a move described by both sides as a major step toward revitalizing Iran’s aged commercial fleet […]
Dubai, UAE, Riyad, Saudi Arabia, 22 December 2016 Tasnee, the leading industrial company in Saudi Arabia, is the platinum sponsor of ArabPlast Show to be held from 8th to 10th of January 2017 at the Dubai Exhibition and convention Centre. Co-organised by Al Fajer Information and Services and German exhibition organiser Messe Dusseldorf, ArabPlast is expected to bring together key players in the plastics, petrochemicals and rubber […]
(Image: file photo) Earlier this year, we were sent a series of large, encrypted files purportedly belonging to a US police department as a result of a leak at a law firm, which was insecurely synchronizing its backup systems across the internet without a password. Among the files was a series of phone dumps created by the police department with specialist equipment, which was created by Cellebrite, […]
In October 1977, a Memphis, Tennessee woman was raped in her home by two intruders. The woman subsequently identified one of the perpetrators as her neighbor, 22 year old Lawrence McKinney. One year later, McKinney was convicted on rape and burglary charges and sentenced to 115 years in prison. The only problem is that he didn’t do it. After spending 31 years in prison, DNA evidence cleared […]
NEW YORK A New Jersey man groped a woman during a transcontinental flight and then apologised in a pair of notes in which he acknowledged his actions were “stupid,” U.S. authorities said on Thursday. Ganesh Parkar, 40, of Windsor appeared in federal court in Newark, New Jersey, on Thursday to face a charge of abusive sexual contact, one day after the overnight Air India flight from Mumbai […]
Your daily guide to community and cultural activities across the Emirates for December 23, 2016, including performances, festivals, art exhibitions, film screenings, health and fitness events, talks, classes, workshops and family fun. newslide Abu Dhabi Festive fun Visit Al Maryah Island for the Winter Wonderland, featuring cosy winter cottages hosting activities including bauble-decorating, cracker-making and gingerbread-house-decorating. A skating rink and snow park offer a wintry feel, while […]
Donald Trump turned up the heat under Lockheed Martin about the cost of its F-35 fighter jet, tweeting on Thursday that he had asked rival defence contractor Boeing to price its F-18 Super Hornet as an alternative. “Based on the tremendous cost and cost overruns of the Lockheed Martin F-35, I have asked Boeing to price-out a comparable F-18 Super Hornet!” Mr Trump tweeted on Thursday evening. […]
By Lucia Mutikani | WASHINGTON WASHINGTON U.S. consumer spending increased modestly in November as household income failed to rise for the first time in nine months, suggesting the economy slowed in the fourth quarter after growing briskly in the prior period. The economy, however, remains on solid footing as other data on Thursday showed new orders for capital goods rising last month amid demand for machinery, indicating […]
In the wake of reports that Fitbit has dominated the wearables segment and with its acquisition of Pebble, it would seem that the picture for the wearable industry is all rosy. A new report, however, shows that it is not the case. Wearables’ Negative Outlook Research firm eMarketer has downgraded its outlook on the wearable devices market. It estimates a 24.7 percent growth this year for an industry […]
Submitted by Simon Black via SovereignMan.com, In the late 1400s, the city-states of Italy were among most dominant powers in the world. Most of the city-states had abandoned the feudal system that persisted across Europe. So Italy was one of the only places on the continent where anyone, including foreigners, could work hard, take risks, and become wealthy. People could start businesses and own private property– revolutionary […]
NAND flash memory SK Hynix will invest 2.2 trillion won ($1.8 billion) to build a new fabrication facility that produces NAND flash memory in its factory in Cheongju, South Korea, the company announced. The world’s second largest memory chip maker will also put additional investment into its counterpart in Wuxi, China, which mostly produces dynamic random-access memory (DRAM), to meet rising demand from local customers there. The […]
FUJAIRAH // The deaths of three youngsters in accidents at their homes in Fujairah in the past two months has prompted experts to remind parents to be extra vigilant when it comes to keeping their children safe. On December 14, four-year-old Manal Al Sarsi was seriously injured after falling from a window at her family’s third-floor apartment in Merbeh. The Egyptian child died in hospital a few […]
WASHINGTON The U.S. Department of Homeland Security said on Thursday it is canceling an inactive registry program for visitors from countries where extremist groups are operating, a plan similar to a Muslim registry considered by President-elect Donald Trump. The National Security Entry-Exit Registration Systems program, known as NSEERS, was suspended in 2011, DHS spokesman Neema Hakim said in a statement. He said the program was determined to […]
GQ’s Drew Magary has just published his list of “Least Influential People of 2016” and apparently he’s still troubled by Trump’s victory as the entire list is dedicated to the “boobs, liars, and hapless idiots” who “added their own little secret ingredient to the hearty gumbo of American vapidity that gave us President Trump.” First, even though Magary admits that he “hates” adding her to the list, […]
By Claire Milhench | LONDON LONDON Global investors’ equity holdings rose to six-month highs in December on bets that U.S. President-elect Donald Trump’s promised fiscal splurge would spur higher growth and inflation, a Reuters monthly poll showed on Thursday. Trump’s plans to cut taxes and boost spending have sent Wall Street .DJI .IXIC to record highs in December as investors pile into everything from banks, to energy […]
After five grinding years of losses, commodities are set to end higher in 2016 and investors are staking out increasingly bold calls for the coming year. This reflects signs that the prolonged decline in markets such as oil and metals is finally having an effect. Cuts in capital spending by producers have begun to choke off supplies as global demand creeps higher. It might not be a […]
Gulf stock markets barely moved in quiet, early trade on Thursday before the announcement of Saudi Arabia’s 2017 state budget, expected in the afternoon. The Saudi stock index edged up 0.1 percent in the first 40 minutes. Much activity focused on second-tier stocks such as Saudi Printing and Packaging, up 4.9 percent, although Saudi Electricity rose 0.9 percent. Saudi Electricity’s profits rose in the wake of the […]
