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The SWIFT logo is pictured in this photo illustration taken April 26, 2016. Reuters/Carlo Allegri/Illustration/File Photo DHAKA Bangladesh police are reviewing a nearly forgotten 2013 cyber heist at the nation’s largest commercial bank for connections to February’s $81 million heist at the country’s central bank, a senior law enforcement official said on Wednesday. The unsolved theft of $250,000 at Sonali Bank involved fraudulent transfer requests sent over […]

|By Matein Khalid| In retrospect, 2016 will go down in German political and economic history as a significant game changer, on the scale of 1989 (fall of the Berlin Wall), 1990 (reunification) and 1999 (the Euro), even 1945 (launch of Deutschemark), 1945 (Third Reich surrenders), 1943 (Stalingrad) and 1933 (Hitler elected). Chancellor Merkel, renamed Mutti Multi kulti, allowed a million migrants to settle in Germany. The far right […]

A pedestrian walks past an Apple iPhone 6 advertisement at an electronics store in Mumbai, India, July 24, 2015. Reuters/Shailesh Andrade/File Photo NEW DELHI India has said Apple Inc must meet a rule obliging foreign retailers to sell at least 30 percent locally-sourced goods if it wishes to open stores in the country, a senior government official told Reuters. Apple is hoping to expand its retail presence […]

Cardiomyopathy, or a deterioration of the ability of the heart muscle to contract, generally leads to progressive heart failure. It is frequently inherited, and, because approximately 40% of children born with it are likely to die within five years of diagnosis, being able to identify its genetic basis is particularly important. Now, an international team of researchers has identified a new disease gene which is implicated in […]

MANILA More than three months have passed since $81 million was stolen in a brazen cyber-heist from Bangladesh’s central bank and sent to Manila – yet authorities in the Philippines appear no closer to nabbing those who laundered most of the money through a bank and casinos here. Nobody has been arrested, the National Bureau of Investigation (NBI) – the nation’s equivalent of the FBI – has […]

Entertainer Kanye West arrives at the Metropolitan Museum of Art Costume Institute Gala (Met Gala) to celebrate the opening of ”Manus x Machina: Fashion in an Age of Technology” in the Manhattan borough of New York, May 2, 2016. Reuters/Lucas Jackson/Files Kanye West is being sued by a prominent Hungarian rock singer and composer, who accused the hip-hop star of sampling one of his best-known compositions without […]

UAE. According to EY’s latest Global Fraud Survey, Corporate misconduct – individual consequences, only 29% of executives in the Middle East recognize cybercrime risk, compared to 47% globally. T he survey found that many respondents maintain the view that fraudulent activity is not their problem, despite recognizing the prevalence of the issue in their own countries. Michael Adlem, EY’s MENA Fraud Investigation & Dispute Services (FIDS) Leader, […]

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ABU DHABI // A Dh21.3 million fund has been launched to save the endangered dugong and its seagrass ecosystems across the Indian and the Pacific oceans. The Mohammed bin Zayed Species Conservation Fund will launch 38 projects in Indonesia, East Timor, the Solomon Islands, Sri Lanka, Malaysia, Madagascar, Mozambique and Vanuatu, the state news agency Wam reported. “The presence of dugong and seagrass in a marine ecosystem […]

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 […]

Amazon boxes are seen stacked for delivery in the Manhattan borough of New York City, January 29, 2016. Reuters/Mike Segar/File Photo BRUSSELS – EU state aid regulators aim to rule on Amazon’s tax deal with Luxembourg by July, two people familiar with the matter said on Thursday, and it may order the country’s tax authorities to recover about 400 million euros ($448 million) in back taxes. The […]

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 […]

Reuters/Jim Urquhart/Files   SAN FRANCISCO Republican presidential candidate Donald Trump on Tuesday warned that a dangerous financial bubble has formed in the technology industry – and Silicon Valley responded with a collective eye roll.   In a Reuters interview, the New York billionaire said technology start-ups that had never earned a profit were able to sell shares at very high prices, likening the situation to the overheated […]

Dubai: Supporters of Turkish Super Lig club Eskisehirspor on Sunday destroyed their own football stadium, setting the stands on fire and vandalising them in the wake of the club’s last-ever match at the ground. Immediately after the final whistle the pitch was invaded by fans who set about pulling down the goals before turning their attention to the aging stadium. The fracas was a demonstration of disgust […]

Concerns about identity theft, financial fraud and business or government tracking are creating a “chilling effect” on online commerce and free expression, according to analysis of data from a 2015 survey of Internet use conducted for the Department of Commerce’s National Telecommunications and Information Administration (NTIA). Of the 41,000 households asked about privacy and security in the July 2015 U.S. Census Bureau survey for the NTIA, 19 […]

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 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 […]

The latest update to SugarCRM’s customer relationship management (CRM) platform adds several new capabilities aimed at providing sales and marketing professionals with “more timely and relevant” information about their customers. Sugar 7.7 adds new support for custom tags to help users better classify information about their customers in ways that work for them, the company said. The updated platform also improves search capabilities to deliver the most […]

In its ongoing effort to pursue enterprise markets, Apple announced yesterday that it is teaming up with SAP to develop iPhone and iPad apps for business users. As part of that partnership, the companies also plan to release a new software development kit (SDK) and launch a training academy to promote the building of native iOS apps for enterprises. Apple launched a similar partnership with IBM in […]

JPMorgan Chase & Co., Morgan Stanley, Gulf International Bank BSC, National Commercial Bank, Samba Financial Group and Saudi Fransi Capital are also being considered for the Tadawul Stock Exchange IPO, and a decision could come as soon as this week, said the people, who asked not to be named because the discussions are private. The IPO could raise more than $500 million for a 30 percent stake […]

A man is seen near cyber code and the U.S. National Security Agency logo in this photo illustration taken in Sarajevo March 11, 2015. Reuters/Dado Ruvic SAN FRANCISCO Internet traffic to Wikipedia pages summarizing knowledge about terror groups and their tools plunged nearly 30 percent after revelations of widespread Web monitoring by the U.S. National Security Agency, suggesting that concerns about government snooping are hurting the ordinary […]

UAE. End of Service Gratuity (Gratuity) is a statutory severance pay across most Middle Eastern jurisdictions and one which is conceptually analysed as akin to a retirement savings scheme or pension scheme. This article explores some of the common pitfalls and tricky issues which arise in relation to statutory Gratuity in the United Arab Emirates (UAE) under Federal Law No.8 of 1980 Regarding the Organisation of Labour […]

TORONTO Canada’s Liberal government is prepared to overhaul the country’s laws governing broadcasting, media and cultural industries to support local content, Heritage Minister Melanie Joly told the Globe and Mail in a report on Saturday, announcing a new policy direction in what she called a broken system. Canada’s broadcast regulator has long had requirements for networks to carry certain amounts of local content. But it cut that […]

|By Dr Xiaoxi He, Technology Analyst, IDTechEx| Many interests have been raised within the battery business in 2015 through a number of activities: the launch of Tesla’s Powerwall with low prices supported by the capability of Gigafactory, Apple’s patent relating to charging and managing power in a device with solid-state batteries, LG Chem’s opening of a mega battery plant in Nanjing, Bosch’s purchase of polymer solid-state battery companySeeo, etc. Not to mention the tremendous number of investment, acquisitions, partnerships and joint ventures. At the same time, new battery technologies are appearing […]

Microsoft released the latest build of Windows 10 to members of its Insider Preview program today. The release, labeled Build 14328, includes upgrades to Windows Ink, the Start button, Cortana, and the Search function. The company released a previous version of the build for mobile devices earlier this week, so this latest version focuses primarily on PC functionality. There are so many changes in the latest build […]

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