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A man types on a computer keyboard in Warsaw in this February 28, 2013 illustration file picture. Reuters/Kacper Pempel/Files SAN FRANCISCO The Chinese hacking group suspected of stealing sensitive information about millions of current and former U.S. government employees has a different mission and organizational structure than the military hackers who have been accused of other U.S. data breaches, according to people familiar with the matter. While […]

UAE. Dubai and Abu Dhabi have been ranked as the 23rd and 33rd most expensive cities to live in (respectively) according to Mercer’s 2015 Cost of Living Survey. The two cities have experienced a significant jump compared to 2014, with Dubai soaring 44 places from last year’s position at 67 and Abu Dhabi going up 35 places 68th in 2014. Dubai and Abu Dhabi are the most […]

Businesses that need to handle workloads with a range of different demands have a selection of new cloud-based, general-purpose instances to choose from through Amazon Web Services (AWS). AWS on Thursday announced the availability of M4 instances, a next-generation Elastic Compute Cloud (EC2) offering. Powered by custom 2.4-GHz Intel Xeon E5-2676 v3 Haswell processors, M4 instances are designed to support a variety of applications, including relational and […]

UAE. Dubai private sector companies indicated a modest rebound in output growth from the 18-month low recorded during April, according to the latest Emirates NBD Dubai Economy Tracker™ report. The latest survey also pointed to a slightly faster expansion of incoming new work, while modest job creation and positive sentiment regarding the business outlook was sustained. Of the three key sub-sectors monitored by the survey, construction was […]

|TAP Special| Sections of public opinion in the Arab Gulf see anti-Arab bias and the grudge in losing the bid  for hosting World Cup as the main motivation for the campaign against Qatar in the award of 2022 tournament. As it becomes increasingly clear that the corruption scandal can have very negative implications for the hosting of the tournament, the Arab public opinion is also becoming more […]

An illustration picture shows a projection of binary code on a man holding a laptop computer, in an office in Warsaw June 24, 2013. Reuters/Kacper Pempel/Files SINGAPORE Whoever was behind the latest theft of personal data from U.S. government computers, they appear to be following a new trend set by cybercriminals: targeting increasingly valuable medical records and personnel files. This data, experts say, is worth a lot […]

UAE. According to a new report by The Boston Consulting Group (BCG), the UAE outperforms the GCC and the rest of the world in most dimensions – including income, employment, health, education, infrastructure, income equality, civil society, governance, and environment – when it comes to its current-level Sustainable Economic Development Assessment (SEDA) scores. Across these dimensions, the UAE topped the average scores of both the GCC and […]

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Japanese Defense Minister Gen Nakatani (L-R), Japanese Foreign Minister Fumio Kishida, U.S. Secretary of State John Kerry and U.S. Secretary of Defense Ash Carter shake hands following a news conference as part of the U.S.-Japan Security Consultative Committee (2+2) meeting… Reuters/Andrew Kelly/Files TOKYO The United States will extend its cyber defense umbrella over Japan, helping its Asian ally cope with the growing threat of online attacks against […]

The Islamic State in Iraq and Syria has ramped up its activities in Southeast Asia so effectively that there is now an entire military unit of terrorists recruited from Indonesia, Malaysia and Singapore, according to Singapore’s prime minister. “Southeast Asia is a key recruitment center for ISIS,” Prime Minister Lee Hsien Loong said at the Shangri-La Dialogue here in Singapore Friday. He noted that this included more than 500 Indonesians and dozens of Malaysians. “ISIS has […]

Avago Technologies Ltd (AVGO.O) agreed on Thursday to buy Broadcom Corp (BRCM.O) for $37 billion in the largest merger of chipmakers ever, turning a lesser known company run by a ferocious dealmaker into one of the biggest industry players. Avago, which serves the wireless and industrial markets, is offering Broadcom shareholders $17 billion in cash and Avago shares valued at $20 billion. Broadcom is best known for […]

JORDAN.  Technology will be a “game changer” in tackling youth unemployment in the Middle East and North Africa’s emerging Digital Economy, but only if the government, private, and people sectors collaborate effectively, according to a new report released on the eve of the World Economic Forum on the Middle East and North Africa (MENA) 2015. The report “Re-Dynamizing the Job Machine: Technology-Driven Transformation of Labor Markets in […]

The path to a wearable future lies in academia NEW YORK, 16 days ago By Jeremy Wagstaff For a glimpse of what is, what might have been and what may lie ahead in wearable devices, look beyond branded tech and Silicon Valley start-ups to the messy labs, dry papers and solemn conferences of academia. There you’d find that you might control your smartphone with your tongue, skin […]

Dubai Islamic Bank (DIB) has picked six banks to arrange fixed income investor meetings from Thursday for a potential benchmark size, U.S. dollar-denominated senior sukuk issue, a document from lead arrangers showed. DIB, the largest Islamic bank in the United Arab Emirates, has mandated First Gulf Bank, HSBC, Maybank, National Bank of Abu Dhabi, Standard Chartered Bank and itself to arrange the meetings in Asia and Europe. […]

|By TAP Staff| RP Global – part of RP Group of Companies, a global business conglomerate with an annual turnover of over US$4 billion – made its entry into the Dubai real estate market by breaking ground on its new multi-storey residential tower project RP Heights. RP Global will initially develop two prestigious projects in the heart of the city with a total development value of over […]

|TAP Special| US airlines companies hired secret accountants to unearth how Gulf governments subsidized their airlines, including Emirates, Etihad and Qatar Airways, western media has reported. As the battle intensifies over U.S. airlines’ allegations of unfair state subsidies to three Persian Gulf rivals, American carriers have been gathering data to support their claims sheds light on the vast financial reporting divide between the two sides. The U.S. […]

As chairman of Emaar Properties, Mohamed Alabbar has shaped much of Dubai’s skyline, but rapid growth in his outside real estate interests is raising the possibility of a rarity in the Gulf – open shareholder dissent. Speculation persists that Alabbar and Emaar, the company he founded in 1997, could soon part ways despite a categorical denial from the firm last month. His involvement in other firms’ projects, […]

QATAR. Notwithstanding the weak start for the global economy, Asian economies are expected to continue to grow rapidly in 2015. We expect economic growth to average 5.7% in 2015, the same rate as in 2014. However this masks significant differences across Asian countries that mainly depend on their exposure to global headwinds. India and Myanmar stand out as bright spots for 2015, while China, Indonesia, Malaysia and […]

| By Michael Sasso| If you have to fly from New York to New Delhi on April 1, you can book through one of the three big U.S. airlines for at least $1,100 round trip. Or you can take one of Emirates’ luxurious Airbus A380s for less than $900. That choice is at the heart of the complaint raised by Delta, American, and United Continental with U.S. […]

Traders who have been storing oil since the start of the year are selling some supplies back into the market, completing a trade-play that made oil storage profitable, and re-injecting fuel into an already oversupplied market. The selling signals a winding down of a strategy that has seen at least 50 million barrels of oil stored in tankers, equivalent to about one month’s consumption in Britain, although […]

The proposal by Dubai Municipality to introduce mandatory affordable housing quotas for all new residential developments in Dubai is long overdue and is expected to bring a wide range of benefits to the emirate, while driving further maturity in the market, according to leading international real estate consultants, Cluttons. With the residential market in Dubai now meandering through the second half of the current property cycle and […]

National Bank of Abu Dhabi (NBAD) is not interested in buying retail business of Citigroup, and is instead targeting organic growth in the country and globally, the bank’s chief executive told Reuters on Sunday. The plan to grow organically by the United Arab Emirates’ largest lender sets it apart from several other big Gulf banks, which have sought to use overseas acquisitions as a way to expand […]

Dubai-based financial services firm Arqaam Capital has invited banks to pitch for roles in arranging its flotation on the emirate’s bourse, three banking sources aware of the matter told Reuters.  Arqaam has offices in five countries in the Middle East and Africa and offers services including brokerage, asset management and corporate finance advisory. It declined to comment when contacted by Reuters. The invitation, known as a request […]

Dubai Islamic Bank will reopen the Gulf bond market next week with a capital-boosting sukuk, the region’s first debt offering in two months as financial markets there wobbled under the impact of falling oil prices. A successful offering would not just bolster reserves at DIB, the largest Islamic bank in the United Arab Emirates, but also pave the way for others who may have been waiting to […]

SHANGHAI Sun Jan 4, 2015 7:47pm IST Lei Jun, founder and chief executive officer of China’s mobile company Xiaomi Inc, introduces the new features of Xiaomi Phone 4 at its launching ceremony, in Beijing, July 22, 2014. Credit: Reuters/Jason Lee/Files Related Topics Stocks     Bollywood actor Deepika Padukone turns 29.  Pics  SHANGHAI (Reuters) – Fast-growing Chinese tech firm Xiaomi Technology Ltd Co booked 74.3 billion yuan […]

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