BAGHDAD — If there were one safe place in Iraq, it should be a hospital nursery, locked down for the night with dozens of babies nestled inside. But here, not even that is a given. When a fire started late Tuesday night in the maternity wing of one of Baghdad’s main hospitals, it quickly engulfed the babies’ room. And then, in another Iraqi tragedy in a horrifying […]
People visit a Tesla Model S car during the Auto China 2016 in Beijing, China, April 25, 2016. Reuters/Jason Lee/File Photo BEIJING Tesla said on Wednesday that one of its cars had crashed in Beijing while in ‘autopilot’ mode, with the driver contending sales staff sold the function as ‘self-driving’, overplaying its actual capabilities. Tesla said it had reviewed data to confirm the car was in autopilot […]
The newest smartphones in Samsung’s Galaxy line come with contactless mobile payment capability. That’s good news when it comes to convenience, but it might be bad news when it comes to security. During a presentation given recently at the Def Con security conference in Las Vegas, a computer science student demonstrated a variety of attacks against Samsung Pay, Samsung’s mobile payment service. The attacks Mendoza described were […]
|By Arabian Post Staff| Ford Motor Company has terminated its dealership agreement with Kuwait’s Arabian Motors Group WLL for the Ford and Lincoln brands, a top functionary of the US carmaker confirmed. The company will now go with Alghanim Auto, with which it had a relationship since March this year as an official importer. Alghanim Industries is one of the largest privately-owned and professionally managed companies in […]
A general view of a Wal-Mart store in Mexico City, April 24, 2012. Reuters/Edgard Garrido/Files Wal-Mart Stores Inc (WMT.N), vying to better challenge Amazon.com Inc (AMZN.O), will pay about $3 billion for internet retailer Jet.com and its innovative pricing software in the largest-ever deal for an e-commerce startup. The deal disclosed on Monday follows a five-year e-commerce acquisition spree in which Wal-Mart, the world’s biggest traditional retailer, […]
ABU DHABI // A pilot scheme to allow Filipinos working overseas to apply for an exit clearance each time they return home on holiday is to begin next month, officials announced on Monday. Those returning to the same employer and job site and listed on the electronic data base of the Philippine overseas employment administration (Poea) will no longer be required to secure an overseas employment certificate, […]
UAE. [ME NewsWire] –The latest Global Economic Conditions Survey (GECS) from ACCA and IMA, suggested positive signs for businesses in the GCC but a stark forewarning of how the shock of Brexit will hit a fragile recovery in global business confidence. Responding to the findings, Lindsay Degouve de Nuncques, head of ACCA Middle East said: “It is encouraging to see that our members’ business confidence has improved […]
A security guard stands guard outside a branch of Rizal Commercial Banking Corporation (RCBC) in Paranaque city, Metro Manila, Philippines August 2, 2016. Reuters/Erik De Castro MANILA A Bangladesh central bank team visiting Manila to recover $81 million stolen from its account in New York said it was close to getting back $15 million of the loot frozen by the Philippines, but first has to prove ownership […]
A security guard stands beside a logo of the Bangko Sentral ng Pilipinas (Central Bank of the Philippines) posted at the main gate in Manila, Philippines April 28, 2016. Reuters/Romeo Ranoco/File Photo MANILA The Philippine central bank said on Friday it would fine Rizal Commercial Banking Corp (RCB.PS) (RCBC) a record 1 billion pesos ($21 million), after the bank was used by cyber criminals to channel $81 […]
BREMEN, Germany — Believing he was answering a holy call, Harry Sarfo left his home in the working-class city of Bremen last year and drove for four straight days to reach the territory controlled by the Islamic State in Syria. He barely had time to settle in before members of the Islamic State’s secret service, wearing masks over their faces, came to inform him and his German […]
UAE. Project activity in the UAE is forecast to recover in 2017 after a difficult 2016 on the back of a strong recovery in economic growth, according to a new report from Middle East business intelligence service MEED. MEED’s annual UAE Outlook Report for 2016 says that a recovery in oil prices combined with growing public and private sector activity boosted by Dubai’s preparations for the Expo […]
HUSAN, West Bank — The Sabateen clan recognized the dewy-eyed boy in the World Vision sponsorship card from his birth date and the striped collar of his cardigan. His mother used to make him wear that sweater on special occasions. It was their Othman, who turned 18 on Monday but at the time was 5. None of his relatives recalled signing him up for the World Vision […]
SolarCity Corp (SCTY.O) agreed to Tesla Motors Inc’s (TSLA.O) $2.6 billion offer to buy the solar panel installer, the companies said on Monday, clearing one obstacle in the way of Elon Musk’s ambitious plans for a carbon-free energy and transportation company. Tesla’s offer represented about half of SolarCity’s value a year ago, a tumble reflecting the solar company’s slowing growth, complex financial structure and the increased scrutiny […]
|By Arabian Post Staff| Dubai’s private developer engaged in developing shopping malls, hotels and mixed use communities says Dubai is well on the way to a strong market recovery. Robert Welanetz, Chief Executive Officer of Majid Al Futtaim – Properties, believes Dubai’s position as a world-class business and investment hub will drive the real estate revival. “We expect the ‘soft’ retail market will continue through the end […]
LIBYA. A multi-million redevelopment of Tripoli International Airport is getting ready for take-off following the Libyan Local Investment & Development Fund’s (LLIDF) appointment of PwC as its strategic advisor. The LLIDF is supporting the redevelopment of Libya through its new Investment Programme which includes the redevelopment of Tripoli International Airport into a world-class international airport. Based within a secure hub on the former airport site, the ambition […]
Faster, higher, stronger: those are the three qualities captured in the official Olympic Games motto “Citius, altius, fortius”– to which some will want to add “dubious”. With doping seemingly rife in sport generally and the Russian Olympic team in trouble, it’s hard to see the Rio Games as the embodiment of the famous dictum of Pierre de Coubertin, founder of the modern Olympics, that it’s not the […]
|By Arabian Post Staff| First Gulf Bank reported a lower Group net profit for the first half of this year, recording AED 2.64 billion for the six-month period ended 30 June 2016, compared to AED 2.87 billion for the first half of 2015 FGB, one of the leading banks in the UAE, reported second quarter 2016 Group revenue growth of 3%, while Q2’2016 net profits were recorded at AED […]
|By Arabian Post Staff| Ahmad Hamad Algosaibi & Brothers claimed a historic milestone in the efforts to resolve the largest and most complex financial dispute in the history of the Middle East. AHAB today said it has signed a settlement support agreement with the five Steering Committee members who have been negotiating the terms of settlement since May 2014. This agreement formally commits AHAB and the Steering […]
ABU DHABI // They may sound like the stuff of science fiction, but driverless cars could be key to reducing the number of accidents in the UAE, experts say. More than 90 per cent of accidents involve driver error and machines have been proven to drive more reliably than humans, said Lee Woodcock, global product director for intelligent mobility at the engineering consultancy Atkins. “The potential is […]
A Tesla logo adorns a ‘Model S’ car in the dealership in Berlin, Germany, November 18, 2015. Reuters/Hannibal Hanschke/File Photo Tesla Motors Inc and SolarCity Corp have made progress in putting together a deal that will merge the electric car maker and the solar panel installer, people familiar with the matter said. The two companies, which count billionaire Elon Musk as a major shareholder, are in the […]
A worker climbs outside an Apple store in Hong Kong April 10, 2013. Reuters/Bobby Yip/File Photo HONG KONG Apple Inc found itself on the receiving end of a small, short-lived anti-U.S. protest this week in China, the tech firm’s biggest overseas market and a country where foreign firms have suffered damaging boycotts following international spats. A handful of unofficial Apple stores were picketed and social media users […]
Commuters pass by the front of the Bangladesh central bank building in Dhaka March 8, 2016. Reuters/Ashikur Rahman/Files DHAKA/NEW YORK When the Federal Reserve Bank of New York cleared five transactions made by the Bangladesh Bank hackers, the money went in two directions. On Thursday, February 4, the Fed’s system sent $20 million to Sri Lanka and $81 million to the Philippines. The Sri Lankan transaction contained […]
Yahoo CEO Marissa Mayer delivers her keynote address at the annual Consumer Electronics Show (CES) in Las Vegas, Nevada in this January 7, 2014, file photo. Reuters/Robert Galbraith/Files SAN FRANCISCO Former Yahoo executive Dan Rosensweig has not worked at the pioneering internet company in nearly a decade. But last week, as Yahoo Inc (YHOO.O) prepared to sell its core internet business, he was sporting a Yahoo T-shirt […]
UAE. JLL, the world’s leading real estate investment and advisory firm, today has released its Q2 2016 Dubai Real Estate Q2 Overview report that evaluates the impact of Britain’s exit from the European Union on the Dubai Real Estate Market across office, residential, retail and hotel sectors. Dubai caters to the most open real estate market within the region and as a result is more susceptible to […]
