By Se Young Lee and Jane Chung | SEOUL SEOUL The head of South Korea’s Samsung Group [SAGR.UL], Jay Y. Lee, may be languishing in a jail cell but he is allowed plenty of visitors, which may allow him to play a key role in corporate decisions even if he isn’t running the conglomerate like he did before. Lee, who didn’t attend last Thursday’s preparatory hearing for […]
Leonardo Maugeri of Harvard University, who in 2012 predicted a glut in oil supplies and a steep fall in prices, has warned that there is again a prospect that the market is heading for “a substantial fall”. Strong growth in global supply, he argues in a new paper, is outpacing the increase in demand, in spite of the production cuts agreed by Opec and 11 non-Opec countries […]
ABU DHABI // Illegal activities online will be targeted by the newly established Federal Public Prosecution for Information Technology Crimes. The FPPITC has been set up in the capital to investigate and resolve criminal cases including the misuse of the internet with the intention of damaging public morals, human trafficking, illegal drugs, illegal activity related to firearms, ammunition and explosives. Encouraging the breach of state laws as […]
In the tech industry, it’s easy to get caught up in the minutiae. But we should all step back and witness an industry in transition. Here are a few things I believe will shape the next few years. Smartphone Hardware Runs its Course As my colleague Carolina Milanesi recently wrote, it’s becoming increasingly difficult to innovate in the smartphone space. After a decade […]
By James Pomfret | NANSAN, China NANSAN, China Within earshot of mortar fire echoing from beyond a ring of hills, a sprawling relief camp in Southwestern China is swelling steadily after fighting erupted last week between a rebel ethnic army in Myanmar and government troops just across the border. In a recent Reuters visit to the rugged area in southwestern Yunnan province, aid workers and those displaced […]
Zain Group held its annual Ordinary General Assembly in a gathering that constituted a quorum of 66.79% and approved a cash dividend of 35 fils Vice-Chairman Bader Al Kharafi: “Investments in emerging technologies will diversify our revenue streams.” New Board of Directors elected for three years; Scott Gegenheimer given new role as CEO of Operations Advertisement Kuwait – 12 March, 2017 Zain Group, a leading mobile telecom […]
In November of last year, Samsung announced that it was purchasing Harman International Industries for $112 per share, equivalent to around $8 billion. The company’s biggest ever acquisition, which was an uncharacteristic one for the South Korean conglomerate as it mostly preferred to develop its own technology or buy smaller startups, has now been completed after four months. Samsung Closes Harman Acquisition “Today is a historic moment for […]
HPE and SUSE, a top Linux distributor, have a complex relationship. First, HPE spun and merged its non-core software assets with Micro Focus. Micro Focus owns SUSE, a major Linux provider. Now, SUSE has finished acquiring cloud assets of HPE’s OpenStack Infrastructure-as-a-Service (IaaS), Cloud Foundry Platform-as-a-Service (PaaS), and Stackato, HPE’s Cloud Foundry implementation. SUSE will develop clouds while HPE will sell, support, and maintain them in their […]
The anti-Dutch remarks from Turkey inflamed tensions among the Turkish community in the Netherlands, who protested in Rotterdam until the early hours of Sunday, when they were dispersed by police officers wielding batons and water cannons. The police arrested 12 people, and seven were injured, including a policeman, whose hand was broken. Continue reading the main story Though Turkish law technically bars the practice, Turkish ministers are […]
Doha, Qatar – 12th March 2017 Nakilat held its Annual General Meeting (AGM) for the financial year 2016 and Extraordinary General Meeting (EGM). During the AGM, Nakilat’s Board of Directors stated that the company achieved a net profit of QR 955 million compared to QR 984 million for the year 2015. The General Assembly reviewed and approved all its agenda. The Board of Directors stated that despite […]
When it comes to renewable energy in Saudi Arabia, there still remains more than a hint of scepticism. Multi-billion dollar plans have come and gone and the kingdom has made little progress developing renewable energy capabilities to harness its advantageous climatic conditions. In 2010, the King Abdullah Centre for Atomic and Renewable Energy (KA-Care) was established to develop the country’s renewable and nuclear capabilities, as the country […]
Our round-up of the week’s best comment and analysis from the Financial Times focuses on the European Central Bank strategy, green investment and the future of India’s economy. The selection is taken from our Markets Insight and Smart Money columns, written by industry contributors and FT commentators. Olivier Garnier, a group chief economist at Société Générale, looks at the European Central Bank’s exit strategy from ultra-loose monetary […]
CAIRO Cairo’s population is set to grow by 500,000 this year, more than any other city in the world, adding to the pressure on an Egyptian economy struggling to recover from six years of political turmoil. Greater Cairo, a metropolitan area including the cities of Cairo, Giza and Qalyubia, is home to some 22.8 million people and will gain another half a million in 2017, a Euromonitor […]
In response to the ‘paralysis’ facing immigration courts, dealing with over 500,000 pending cases, President Trump is deploying 50 judges to immigration detention facilities across the United States, according to two sources and a letter seen by Reuters. As the Associated Press points out, there are 58 immigration courts in 27 states around the country with a total of 301 judges. The problem, of course, is that […]
Authored by Federico Pieraccini via The Strategic Culture Foundation, While the world continues to decipher, or digest, the new Trump presidency, important changes are afoot within the grand strategic triangle that lies between Russia, Iran and China Away from the current chaos in the United States, major developments are progressing, with Iran, Russia and China coordinating on a series of significant moves crucial for the future of […]
UK and Gulf scientists will be working together on eight cutting edge research projects, thanks to $3.4 million in UK government funding allocated to research projects in areas ranging from nanotechnology to cyber-security. The funding will strengthen scientific ties between the UK and the Gulf region in order to find solutions to shared global challenges, a statement said. The project is led by the Department for Business, […]
Company’s yearly revenue surges by more than 30% in 2016, staff strength increases from 350 in 2015 to 600 in 2016 11 March 2017 Abu Dhabi, UAE – Emirates International Property Services (EIPS), a Bloom Holding subsidiary that offers a comprehensive range of competitive, customised facility management services, has adopted a simpler and more dynamic brand name – b.fm. The move is part of the company’s strategy […]
In this Policy Forum, Cong Cao and Richard P. Suttmeier highlight the immense work and challenges China will encounter as it attempts to reform its scientific and technological development strategy. (via WSJ)
The tier gives limited access to 15 services. (Image: Google) Stressing its fundamental commitment to openness, Google on Friday announced that it’s adding a free tier to the Google Cloud Platform (GCP). The tier gives limited access to 15 services, including Google Compute Engine (1 f1-micro instance per month in US regions and 30GB-months HDD), Google Cloud Storage (5GB a month), Google Pub/Sub (10GB of messages a […]
Samsung Electronics has completed the acquisition of Harman International Industries in a deal worth $8 billion, the company announced. Harman stockholders will receive $112 per share in cash, and the deal was approved by the US firm’s stockholders and local and foreign regulators, the Korean company said. Harman will be 100 percent owned by Samsung, while Dinesh Paliwal will remain as Harman’s CEO. The company’s workforce, headquarters, […]
The two most powerful men in the world oil market appeared together in Houston on Tuesday to tell the world that their strategy was on track. In December, Khalid al-Falih and Alexander Novak, the energy ministers of Saudi Arabia and Russia, orchestrated a 24-nation plan to cut oil output in the first half of 2017. This week they spoke to reporters in a hotel conference room at the […]
LOS ANGELES Starbucks Corp on Friday said its business has not been hurt by a social media boycott campaign started in response to the chain’s promise to hire 10,000 refugees globally over the next five years. Starbucks made its Jan. 29 refugee hiring announcement on the heels of President Donald Trump’s first executive order that temporarily banned travel from seven mostly Muslim nations. The move angered some […]
Emirates National Oil Company (ENOC) has announced plans to build 10 new service stations in 2017, as part of its 2020 expansion programme to increase its retail network capacity by 40 percent. The group’s plans for this year started with the opening of its new Warsan service station, with other locations to include Sheikh Zayed Road, Al Barsha South, Hessa Street, Sheikh Rashid Road, Bab Al Shams, […]
A Chinese property developer constructing a huge housing project in southern Malaysia has become the latest corporate victim of Beijing’s crackdown on capital flight. Country Garden has closed showrooms in mainland China for its flagship $100bn Forest City development in response to measures by Chinese regulators that have made it harder for individuals to move money out of the country. A slowing Chinese economy, rising US interest rates […]
