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INTERNATIONAL.  Wealth-X today released key highlights from its 2015-2016 Billionaire Census revealing a record number of billionaires, globally. The third edition of this preeminent report indicates that there are 2,473 total billionaires in the world, representing a combined wealth of US$7.7 trillion.  These figures illustrate a 6.4% and 5.4% increase since 2014, respectively. Driven by Wealth-X’s unparalleled collection of hand curated dossiers on the ultra high net […]

UAE. The limited stock of affordable options in Dubai has caused for the neighboring emirates to act like satellite cities. Around 1.1 million people who work in Dubai are residents of another emirate (30% of the active population), as they try to take advantage of the cheaper rates. Rates in other emirates such as Sharjah, Ras Al Khaimah, and Ajman are 30-40% cheaper than the affordable options […]

Eyeing the opportunity to grow its e-commerce sales, Walmart today announced it will shell out $3.3 billion to acquire the online retailer Jet. Since launching a year ago, Jet has grown rapidly to reach $1 billion in merchandise sales. While Walmart dominates the brick-and-mortar retail ecosystem in the U.S., its online sales trail that of its greatest e-commerce competitor, Amazon. In 2015, Amazon reported net sales of […]

Software security firm Symantec has identified a group called Strider that’s aiming spying-related malware at individuals and organizations in Belgium, China, Russia and Sweden. Apparently active since at least late 2011, Strider has kept a low profile and could be a nation-state attacker, Symantec said. Strider uses “stealthy,” hard-to-detect malware called Remsec that provides backdoor access to infected computers for stealing data, logging keystrokes and other actions, […]

BEIRUT, Lebanon — Rebel forces and their jihadist allies challenged the Syrian government’s siege of opposition-held districts of Aleppo over the weekend, seizing military facilities in the city’s southwest and tentatively opening a road to the besieged area. The government, backed in the skies by Russian jets and on the ground by fighters from the Lebanon-based Hezbollah militant group, pounded the area with airstrikes and artillery fire […]

LEBANON.  Byblos Bank issued today, in cooperation with the Olayan School of Business at the American University of Beirut, the results of the Byblos Bank/AUB Consumer Confidence Index for the second quarter of 2016. The results show that the Byblos Bank/AUB Consumer Confidence Index improved by 5.3% in each of April and May, while it regressed by 1% in June 2016. The Index averaged 36.1 in the […]

WASHINGTON — The Syrian military was foundering last year, with thousands of rebel fighters pushing into areas of the country long considered to be government strongholds. The rebel offensive was aided by powerful tank-destroying missiles supplied by the Central Intelligence Agency and Saudi Arabia. Intelligence assessments circulated in Washington that the Syrian president, Bashar al-Assad, was losing his grip on power. But then the Russians arrived, bludgeoning […]

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CAIRO — More than three months of peace talks to end the war in Yemen came to a halt Saturday, leaving in doubt the future of a shaky cease-fire and threatening to deepen what has a become one of the world’s worst humanitarian crises. The United Nations’ special envoy on Yemen, Ismail Ould Cheikh Ahmed, announced the suspension on Saturday in Kuwait, where the talks were being […]

Quantum computing remains mysterious and elusive to many, but USC Viterbi School of Engineering researchers might have taken us one step closer to bring such super-powered devices to practical reality. The USC Viterbi School of Engineering and Information Sciences Institute is home to the USC-Lockheed Martin Quantum Computing Center (QCC), a super-cooled, magnetically shielded facility specially built to house the first commercially available quantum optimization processors — […]

LAS VEGAS Apple Inc (AAPL.O) said it plans to offer rewards of up to $200,000 (£152,433) to researchers who find critical security bugs in its products, joining dozens of firms that already offer payments for help uncovering flaws in their products. The maker of iPhones and iPads provided Reuters with details of the plan, which includes some of the biggest bounties offered to date, ahead of unveiling […]

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 […]

ABU DHABI // Expatriates will have to pay their traffic fines before they can leave the country for business or holidays, under a plan being considered. The idea has been put forward by the Federal Traffic Council and, if approved, expats will be told to pay their fines at airports and land borders or miss their trip. Road-safety experts say the move could make motorists think twice […]

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 […]

New discoveries about spider silk could inspire novel materials to manipulate sound and heat in the same way semiconducting circuits manipulate electrons, according to scientists at Rice University, in Europe and in Singapore. A paper in Nature Materials today looks at the microscopic structure of spider silk and reveals unique characteristics in the way it transmits phonons, quasiparticles of sound. The research shows for the first time […]

|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 […]

Solar Impulse 2 has taken off for the final time, but its crossing of the Saudi desert – managing no-fly zones, wind and heat – could make its last flight the most difficult. Swiss pilot Bertrand Piccard, who took off from Cairo on Sunday and is expected to land in Abu Dhabi on Tuesday, will be navigating a region riven by tensions and conflicts that prevented him […]

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 federal judge sentenced a man to six months in federal prison Thursday for hacking into hundreds of Apple and Google accounts and stealing scores of personal photos, including some belonging to celebrities. U.S. District Judge John A. Kronstadt also issued a $3,000 fine to Andrew Helton, who pleaded guilty to a federal hacking charge in February, according to the U.S. attorney’s office in Los Angeles. Helton, […]

Tesla Chief Executive Elon Musk attends a forum on startups in Hong Kong, China January 26, 2016. Reuters/Bobby Yip/File Photo Tesla Motors Inc (TSLA.O) chief Elon Musk’s ambitious new “master plan” provided a vision of the company as a leader in sustainable energy, but lacked details on how the plan would be funded and executed. Musk sketched out a plan on Wednesday for an integrated carbon-free energy […]

DHAKA/NEW YORK Jupiter. That single word, by a stroke of luck, helped stop the Federal Reserve Bank of New York from paying nearly $1 billion (£757 million) to the cyber-criminals behind a notorious bank heist earlier this year, according to sources familiar with the incident. When hackers broke into the computers of Bangladesh’s central bank in February and sent fake payment orders, the Fed was tricked into […]

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