/By Arabian Post Staff/ Zurich Insurance Group AG has started a process to exit from its general insurance business in the Middle East, pronouncements by the company executives indicated. Zurich’s general insurance chief Kristof Terryn last week said in an interview that the Middle East business has been put into a ‘run-off’ in view of the ‘limited potential’ of general insurance in the region. It will, however, […]
|By K Raveendran| Going by the pace at which machinery automation is advancing, the day does not appear to be a long way off when self-working machines carry out complicated and high-skilled operations without manual intervention. The Win Eurasia Metal Working Fair in Istanbul held during 11-14 February provided clear insights into the evolving trends in this area and the rapid strides Turkish machinery manufacturing industry is […]
Almost 10,000 Department of Homeland Security employees awoke this morning to find that their personal information had been stolen from the agency’s servers and leaked on the Internet. For his next trick, the same hacker said he’ll release the personal details of 20,000 FBI staff members. The information in the data dump includes names, job titles, e-mail addresses, and phone numbers. The attacker targeted not only DHS […]
A general view shows the building ‘Gorod Stolits’ (Capital City) (C), which houses an office of 25 Floor Film Company, at the Moscow International Business Center also known as ”Moskva-City”, in Moscow, Russia, February 3, 2016. Reuters/Maxim Zmeyev WASHINGTON Russian authorities in November raided offices associated with a Moscow film distribution and production company as part of a crackdown on one of the world’s most notorious financial […]
UAE. The start of 2016 signalled another loss of growth momentum at UAE non-oil private sector firms, with business conditions improving at the weakest rate since March 2012. Underpinning the slowdown was a relatively subdued rise in new work, which was linked in turn to a near-stagnation in new export business. Growth rates for output and employment also eased, though stocks of pre-production items increased more quickly. […]
Israeli investigators on Wednesday near the body of a Palestinian who was killed after he and two others attacked border police officers in East Jerusalem. By ISABEL KERSHNER February 3, 2016 JERUSALEM — Three Palestinian men armed with automatic rifles, knives and pipe bombs attacked Israeli border police officers in East Jerusalem on Wednesday, killing one officer and wounding another. The three assailants were fatally shot by officers at […]
CRM giant Salesforce is adding some lightning to its customer success platform. The latest iteration of Salesforce Lightning aims to raise the bar on customer relationship management by with a platform that taps cloud, mobile, social, IoT (Internet of Things) technologies and data science. Salesforce launched Lightning in 2015 as a multi-tenant, next-generation metadata platform that enterprise workers can use on any device. It quickly gained traction, […]
ALL EYES ON BHUBANESWAR OF FUTURE
By Ashok B Sharma
The mantra of maintaining equidistance from the Congress and the BJP has played well for the Odisha Chief Minister Naveen Patnaik. He gets a certification of appreciation from the NDA government at the Centre for urban development. Another feather is on his cap as Bhubaneswar becomes the number one choice for development of Smart City under an ambitious flagship programme mooted by Prime Minister Narendra Modi in 2014.
The central government is slated to release appropriate funds for development of Bhubaneswar from the upcoming Budget which will be operationalized from April 1 – the day celebrated as Odisha Dibas in remembrance of the formation as a separate state in 1936.
Other major urban infrastructure developments on the anvil are the development of Paradeep as a port city and upgrada
Plans for a 1,350-mile railroad running the length of the Persian Gulf from Kuwait to the Indian Ocean are in doubt after the United Arab Emirates halted contract awards amid a review of spending as oil proceeds shrink. Abu Dhabi-based Etihad Rail has suspended the tender process for stage two of the project, which is due to take the line west to the U.A.E.’s border with Saudi […]
The trend of cyberattackers targeting retail and fast-food chains is continuing in 2016. Nationwide fast-food chain Wendy’s is the latest to announce it is investigating a possible credit card breach stemming from its POS (point-of-sale) system. “Reports indicate fraudulent charges may have occurred elsewhere after payment cards were legitimately used at some restaurants,” Wendy’s spokesman Bob Bertini told Reuters. “Until this investigation is completed, it is difficult […]
A remote-controlled Parrot AR.Drone 2.0 Quadricopter is seen during a flight demonstration at the Google I/O Conference at Moscone Center in San Francisco, California June 28, 2012. Reuters/Stephen Lam/Files SAN FRANCISCO Google’s secretive drone delivery project could include a component designed to store packages securely. A patent filed Tuesday in the United States by the company, a unit of Alphabet Inc, describes a “delivery receptacle” designed to […]
The world’s biggest oil producer is spending as much now as it did before the crash in crude prices, signaling no surrender in Saudi Arabia’s battle with rivals. Saudi Arabian Oil Co. is maintaining investment in oil and natural gas projects and has formulated a new strategy in response to cheaper crude as it studies options to sell shares in its parent company and downstream refining and chemical […]
UAE. To coincide with the annual Arab Health Exhibition & Congress this week, six major investment opportunities in the GCC’s health care market in 2016 have been predicted by EY as being areas of high demand and growth in the region. According to the EY ‘Investment Big Bets – Healthcare and Life Sciences in the GCC’ report launched today, specialized centers of excellence (CoEs), home health care […]
FUJAIRAH // Mystery surrounds how a three-metre-long shark ended up dead on a boat, with the sailor saying it leapt aboard and attacked his crew and experts saying it looks like the shark had been hunted illegally. Emirati sailor Hamza Al Sharaa said he and his crew of five were attacked by the shark that leapt onto the deck of their boat in the dark in the […]
Senior Saudi and Iranian figures clashed behind closed doors at a private meeting convened by the World Economic Forum in Davos this week to try to promote peace in Syria, participants said. The barbed exchange between Saudi Prince Turki al-Faisal and Iranian Foreign Minister Javad Zarif at an invitation-only meeting on Wednesday underlined the hostility between the two Gulf rivals, who are waging proxy wars in Syria, […]
Less than two months after OPEC nations sparred over oil policy in Vienna, they resumed the debate at Davos. Nigeria’s oil minister, speaking on a panel at the World Economic Forum in the Swiss resort, said the Organization of Petroleum Exporting Countries needs to meet soon as crashing prices force the group to reconsider its current laissez-faire policy. Saudi Arabia, represented by the chairman of its national […]
Saudi Arabia’s potential initial public offering of its state oil company could be the largest ever, a juicy target for any ambitious Wall Street bank. In a country traditionally cold to outsiders, only a few have the experience to win it. JPMorgan Chase & Co. and HSBC Holdings Plc are among international lenders in the best position to win a role if the kingdom goes ahead with […]
A map of China is seen through a magnifying glass on a computer screen showing binary digits in Singapore in this January 2, 2014 photo illustration. Reuters/Edgar Su/Files BEIJING China’s parliament passed a controversial new anti-terrorism law on Sunday that requires technology firms to hand over sensitive information such as encryption keys to the government and allows the military to venture overseas on counter-terror operations. Chinese officials […]
Foreign Hackers Accessed U.S. Power Grid ‘Dozens of Times’ Recently, a private security researcher hot on the trail of hackers who stole information from a California university’s housing files discovered something far more nefarious: the attackers had found a way into networks running America’s power grid. That security researcher was Brian Wallace. Those attackers appear to be based in Iran. According to his research, these bad actors […]
TOKYO Japan’s Toshiba Corp (6502.T) said on Monday it will cut nearly 7,000 consumer electronics jobs after a $1.3 billion accounting scandal, in an overhaul that will streamline the sprawling conglomerate into a company focused on chips and nuclear energy. Toshiba also said it would sell its television manufacturing plant in Indonesia, and that eventual job cuts spanning the entire PC-to-nuclear company could be over 10,000 including […]
Al khaliji France (UAE), a subsidiary of Al Khalij Commercial Bank (al khaliji), is conducting a career day series across the emirates, in line with efforts to export its talent recruitment and retention localisation philosophy across its network. Open to all fresh graduates and entry-level professionals in the UAE banking and finance field, the series was held in Abu Dhabi yesterday (November 8), is being held in […]
|By Arabian Post Staff| A new study from IFC, a member of the World Bank Group, has found that external risks, security concerns, and over-indebtedness are perceived as the most serious challenges facing the microfinance sector in the Arab World. The survey, conducted in conjunction with Sanabel, the Microfinance Network of Arab Countries, said tackling those problems will be key to spurring the development of the industry. […]
Engineers at a “secret” Apple lab in Taiwan are reportedly working to develop innovative new screen technologies for iPhones and iPads, according to unnamed sources “with knowledge of the facility.” A Bloomberg report today said the lab, which began operating sometime this year, is focused on new ways to make device displays thinner and better. The lab is located in the Longtan District in northern Taiwan and […]
|By Arabian Post Staff| Dubai headquartered global conglomerate Transworld Group and Yokohama-based Suzue Corporation of Japan announced the formation of a joint venture for exploring business opportunities in logistics in the Indian Sub-continent, Middle East and Japan. A Memorandum of Understanding in this respect was signed by Ramesh S. Ramakrishnan, Chairman and Ritesh S. Ramakrishnan, Director – Strategy and Business Planning of Transworld Group, and Takahiro Suzue […]
