Samsung Galaxy S8. Photo by Michael Krigsman. Samsung’s Unpacked launch party this week for the long-awaited Galaxy S8 phone was a gadget lover’s dream. From the bright screen to its waterproof body, the phone is exciting. Although the Galaxy S8 and its larger brother/sister, the S8+, have received a lot of attention, one enterprise showpiece is a new docking station called the DeX Station , which is […]
AMATRICE, Italy Britain’s Prince Charles paid a visit on Sunday to one of the towns in central Italy devastated by a major earthquake last August, a day after locals protested against the government because of aid delays. The 6.2 magnitude earthquake killed nearly 300 people and destroyed thousands of homes and businesses. More than 45,000 aftershocks have rattled the region, including an even stronger 6.6 magnitude quake […]
LONDON Credit Suisse (CSGN.S) has taken out adverts in British Sunday newspapers stressing a zero-tolerance policy on tax evasion, as the Swiss bank tries to limit any damage to its reputation from raids on three of its offices. Zurich-based Credit Suisse was pulled into an international tax evasion and money laundering investigation on Thursday when coordinated searches were carried out on its London, Paris and Amsterdam offices. […]
Submitted by Wolf Richter of WolfStreet The Last time automakers tried this was in 2009! In a few days, automakers are going to report their new vehicle deliveries for March. TrueCar, Kelley Blue Book, and LMC Automotive are predicting total vehicle sales slightly above the flat-line compared to March a year ago, though sales were down year-over-year in both January and February. TrueCar forecasts an increase of […]
Kuwait-based Kamco Investment Company on Sunday said it has purchased Amazon UK’s largest distribution warehouse for $77 million (AED281m). The warehouse in Dunfermline, Scotland, has been leased to Amazon UK Services until October 2031. Amazon employs 2,100 staff at the warehouse, which handles 38 percent of the 143 million packages that e-retailer handles per annum. Kamco said it aims to achieve a targeted cash yield of 6.50 […]
The new Samsung S8, incorporating its virtual assistant Bixby, seen on display in New York Samsung’s Bixby is the new kid on the block of personal digital assistants and is likely to face a rough reception in a neighborhood dominated by tech sector rivals. Bixby—introduced at Samsung’s unveiling of Galaxy S8 smartphones—aims to help the South Korean giant break into a surging market for voice-activated virtual assistants, […]
Paris: The Panama Papers have given ammunition to the fight against tax evasion, but much still needs to happen before the world’s tax dodgers run out of places to hide money, experts say. The papers, published a year ago, linked some of the world’s most powerful leaders, including Russian President Vladimir Putin and former British prime minister David Cameron, as well as sports stars and billionaires to […]
By Hasmik Mkrtchyan | YEREVAN YEREVAN Armenians voted for a new parliament on Sunday in a closely fought race between the ruling party and a former coalition partner that heralds the start of a parliamentary system of government. Under constitutional changes critics say were designed to prolong the political life of President Serzh Sarksyan, parliament, not voters, will elect the president for the first time. That role […]
By Jonathan Spicer | NEW YORK NEW YORK The Federal Reserve could begin shrinking its $4.5-trillion balance sheet as soon as this year, earlier than most economists expect, New York Fed President William Dudley said on Friday in the central bank’s most definitive comments on the question that looms over financial markets. The hawkish-sounding assertion temporarily pushed the dollar lower and raised yields on longer-dated bonds, and […]
One of the Dubai’s most prominent businessmen has reiterated his faith in the UAE, he says, continues to give him confidence to invest in the country. Khalaf Al Habtoor, chairman of the Al Habtoor Group conglomerate, said in a speech to the FT Family Business Summit that his company is working with the government to maximise investments. “I have trust in the country. I have trust in […]
Like many Hong Kongers with family and business ties in mainland China, Ceci Chong would often carry cash back across the border — until she was stopped last summer by a Chinese customs officer. She was caught bringing Rmb100,000 ($14,500) in family savings to Hong Kong — five times the cash limit imposed by China. Her case was part of a crackdown on “financial ants”, who smuggle […]
This story is a collaboration between Kaiser Health News and the Center for Public Integrity. The Justice Department has joined a California whistleblower’s lawsuit that accuses insurance giant UnitedHealth Group of fraud in its popular Medicare Advantage health plans. Justice officials filed legal papers to intervene in the suit, first brought by whistleblower James Swoben in 2009, on Friday in federal court in Los Angeles. On Monday, they sought a […]
More than a third of CEOs in the Middle East say they are very confident about their company’s prospects over the next 12 months, despite global challenges, according to a new survey. PwC’s Annual Global CEO Survey, which interviewed 50 company chiefs in the Middle East, painted a positive, albeit guarded, picture about growth in the region. Thirty-eight percent of CEOs said they are confident about the […]
SYDNEY Australian authorities on Sunday said they found a third body in the aftermath of Cyclone Debbie and accompanying floods that swamped the country’s east coast, as receding waters start revealing the human and economic cost of the storm. The disaster zone stretched 1,000 km (600 miles) from Queensland state’s tropical resort islands and Gold Coast tourist strip to the farmlands of New South Wales state. The […]
By David Shepardson | WASHINGTON WASHINGTON Comcast Corp, Verizon Communications Inc and AT&T Inc said Friday they would not sell customers’ individual internet browsing information, days after the U.S. Congress approved legislation reversing Obama administration era internet privacy rules. The bill would repeal regulations adopted in October by the Federal Communications Commission under former President Barack Obama requiring internet service providers to do more to protect customers’ […]
It can be a lonely business working outside a traditional office environment as a freelancer, independent professional or start-up entrepreneur. Given the costs associated with renting a commercial space, a popular option many choose in those circumstances is to build their empire from home. But while it can save money, this approach has downsides, not least when workers need quick access to a scanner, 3-D printer or […]
Kuwait City, April 1st 2017: KAMCO Investment Company, a leading investment company with one of the largest AUMs in the region, acted as the acquisition advisor to Qurain Petrochemical Industries Company KSCP (“QPIC”) on the acquisition of 20.5% of National Petroleum Services Company KSCP (“NAPESCO”). The transaction has been successfully completed throughout multiple stages that was initiated in the third quarter of 2016 and finalized in March […]
The value of personal loans in the UAE increased to AED349.9 billion ($95.2 billion) in February, up by three percent compared to the previous month, according to the country’s central bank. The UAE Central Bank said that by providing personal and corporate finance facilities, UAE banks “continue to play a dynamic role in establishing a robust economic development process”. It also said in a report cited by […]
NEW YORK U.S. mortgage finance giants Fannie Mae (FNMA.PK) and Freddie Mac (FMCC.PK) may write down $21 billion of tax-related assets if there is a deep cut in the federal corporate tax rate as promised by President Donald Trump, according to an analyst at BMO Capital Markets on Friday. These assets, known as deferred tax assets, are items such as tax credits that may be used to […]
DUBAI // The price of items such as cars, televisions and restaurant bills will rise once value-added tax is introduced in the region early next year. But as the tax will be at a modest 5 per cent, experts say it is unlikely to affect overall spending. Details about goods and services to be subject to VAT will probably be released over the next few months, and […]
Didi Chuxing may have defeated Uber, but China’s dominant ride-hailing platform is no match for the country’s local governments after being forced to gut its urban fleet to comply with regulations. Didi’s core business of cheap ride-hailing now faces a tough fight in the big urban markets, which it built after a bruising battle with local and foreign rivals. Uber ceded the Chinese market — its largest — […]
Ecommerce platform MallfortheWorld has announced that consumers in the UAE, Saudi Arabia and Qatar will now have access to more than 150 of US retailers through its app, marking its first foray into the Middle East. MallfortheWorld said in a statement that its cross platform app, with both desktop and mobile versions available, will launch in other Gulf countries by the end of the year. The website […]
By Rodrigo Campos | NEW YORK NEW YORK Forget the jobs report. The most interesting bit of U.S. economic data next week is Monday’s auto sales release, which will offer a measure of the middle-class consumer and a sector of the stock market that has had a rough ride so far in 2017. Economists are looking for another solid month of sales north of 17 million new […]
Asian football chief Sheikh Salman bin Ebrahim Al Khalifa has hailed the continent’s proposed allocation for the expanded 48-team 2026 World Cup. FIFA recommendations released on Thursday revealed that Asia will see its allocation doubled from a guaranteed four spots to eight. Asian Football Confederation president Sheikh Salman said the allocation was “a fair distribution”. All regions will see an increase in their allocation for the 2026 […]
