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By Ginger Gibson and David Shepardson | WASHINGTON WASHINGTON When the bosses of some of the world’s largest pharmaceutical companies headed to Washington in January to meet U.S. President Donald Trump, it had all the makings of a potentially hostile meeting. Just weeks before, Trump had sent drug stock prices plummeting after accusing the companies of “getting away with murder” by charging too much for medicines. But […]

US-based Hyperloop One on Tuesday put the cost of traffic congestion between Dubai and Abu Dhabi at almost $800 million in lost working hours. Nearly 4,000 vehicles travel on the Dubai-Abu Dhabi highway every day as majority of the people, who work in the UAE capital, reside in Dubai which offers cheaper housing options. “Reducing this commute to 12 minutes opens a whole new realm of options,” […]

A government watchdog group, Public Citizen, said on Wednesday it will ask lawmakers to investigate whether billionaire investor Carl Icahn should have been subject to lobbying disclosure laws when he advised President Donald Trump to overhaul the U.S. biofuels program. Icahn, an unpaid adviser to Trump on regulation, submitted a proposal to Trump last month to change the U.S. Renewable Fuel Standard by shifting the burden of […]

Nvidia has now unveiled the latest generation of the Jetson platform for edge-of-network devices, dubbed the TX2, which is capable of doing a handful of things, including powering commercial drones, factory robots, and smart cameras. The credit card-sized platform comes with the “embedded AI supercomputer” Jetson TX2, which is able to power 4K drones that use up only about 7.5 watts of power. Video drones with the TX2 […]

by March 7, 2017, 11:46 AM EST Royal Bank of Canada closed accounts of about 40 clients and bolstered tax compliance following a review of offshore accounts tied to last year’s leak of records from a Panama law firm. “The review is completed,” J-F Courville, chief operating officer of Royal Bank’s wealth-management unit, said in an interview. “We found out we have a business with good controls, […]

07 March 2017 Dubai, UAE – The board of Dragon Oil, a subsidiary of Dubai-government owned ENOC Group, appointed industry veteran Ali Rashid Al-Jarwan as the new Chief Executive Officer. His appointment to Dragon Oil comes close on the heels of the new board of directors being appointed in January this year. The new head takes over from His Excellency Saif Humaid Al Falasi, Group CEO, ENOC, […]

Sports giant Nike has revealed the Nike Pro Hijab, a performance veil, which acts like a second skin, made from light and soft garment. The hijabs were wear tested by Nike athletes such as Emirati figure skater Zahra Lari and Nike+ Run Club Coach Manal Rostom. “I was really hesitant when I first saw it,” Lari said. “I was thrilled and a bit emotional to see Nike […]

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SYDNEY Climate change was responsible for breaking more than 200 Australian weather records over the past three months, researchers said on Wednesday, a glimpse of conditions to come that will likely threaten energy security and agriculture. Much of Australia’s east coast endured its hottest summer on record, the independent Climate Council said, while torrential rain in Western Australia caused flash flooding. The sort of unseasonable conditions seen […]

SAN DIEGO Major aircraft leasing companies have offered a lukewarm response to proposals by Boeing to build a bigger version of its 737 MAX family to counter the Airbus A321neo. Boeing has begun offering the model code-named 737 MAX 10X to airlines, saying it would be the most efficient single-aisle jetliner in the business – a claim disputed by Airbus. Steven Udvar-Hazy, executive chairman of Air Lease, […]

The two Fortune 500 companies, International Business Machines corp. (IBM) and Salesforce, have agreed to integrate their artificial intelligence platforms and some of their software and service components. As part of the deal, Salesforce customers could make use of the data from IBM’s Watson artificial intelligence platforms whereas IBM would be deploying Salesforce Service Cloud for internal use, more or less a sign of good will. The […]

BERLIN Support for Germany’s Social Democrats (SPD) nudged up to 32 percent, one percentage point behind Chancellor Angela Merkel’s conservatives, over the past week, according to a poll published on Wednesday. The centre-left SPD, currently the junior partner in Merkel’s ruling coalition, has seen its poll ratings soar since nominating former European Parliament president Martin Schulz as its candidate for chancellor in the Sept. 24 federal election. […]

Security is still the most important aspect of network digitisation, Cisco has said, with the networking giant now focused on embedding its security technology into its “next generation” of products. “The best digital offence starts with the best security defence,” Chris Dedicoat, executive VP for Worldwide Sales and Field Operations at Cisco, said during his keynote speech at Cisco Live Melbourne on Wednesday. “We’re focused on two […]

UAE carrier Etihad Airways has advised passengers travelling to the United States from the six banned Muslim nations to check their travel status prior to boarding their flights from Abu Dhabi airport. The notice on its website was issued following the latest developments in the US, the revised executive order – which becomes effective on March 16 – implements a ban on nationals of Iran, Sudan, Somalia, […]

Providing Innovative Financing Solutions to Buyers Interested In Purchasing Residential Units Muscat, March 08, 2017 Sohar Islamic, Bank Sohar’s Islamic Banking Window signed a memorandum of understanding (MoU) with National Mass Housing, a developer of integrated housing communities, to provide preferential Shari’ah Compliant financing solutions to potential Omani’s buyers for purchasing residential units in the upcoming Areej project – phase 2 located in Muscat. The purpose of […]

By Kiyoshi Takenaka and Teppei Kasai | NAMIE, Fukushima NAMIE, Fukushima A truck occasionally whizzes past the darkened shops with cracked walls and fallen signs that line the main street of Japan’s mostly deserted seaside town of Namie. Workers repair a damaged home nearby, and about 60 employees busily prepare for the return of former residents in the largely untouched town hall. Not far away, two wild […]

Hey, it’s boss week here at Local Edition. This week, we’re going to spend a little time with a Florida editor who doesn’t fit many molds (started as a designer, doesn’t care for sandy beaches, etc.) As a reminder, this is week three in our four-week conversation about why we’re still in journalism. (You can subscribe here.) Hang around after the boss talk for a peek at […]

By Matt Spetalnick and David Brunnstrom | WASHINGTON WASHINGTON Faced with a growing test of resolve for a new U.S. president who vowed while campaigning to get tough on North Korea, Donald Trump’s aides are pressing to complete a strategy review on how to counter Pyongyang’s missile and nuclear threats. Pyongyang’s latest missile launches and the assassination in Malaysia of North Korean leader Kim Jong Un’s estranged […]

By Saikat Chatterjee | HONG KONG HONG KONG Asian stocks edged lower on Wednesday after a strong start to the week due to profit-taking as investors lacked conviction to buy risky assets before a U.S. policy meeting next week that may see interest rates rising for the second time in three months. MSCI’s broadest index of Asia-Pacific shares outside Japan eased 0.1 percent in early trade, a […]

March 8, 2017 by: Shawn Donnan and Demetri Sevastopulo in Washington ZTE has agreed to plead guilty to criminal charges of violating US sanctions on North Korea and Iran and to pay up to $1.2bn in fines, the largest sanctions-busting penalty levied against a Chinese company by Washington. The Chinese telecommunications group also admitted to obstructing a federal investigation as part of a settlement announced on Tuesday […]

Saudi Arabia has promised to launch major development projects towards the end of 2017 to re-energise an economy which has been hit by austerity measures, industry sources told Reuters. Deputy Crown Prince Mohammed bin Salman, the kingdom’s top economic official, made the commitment at a recent meeting with a delegation representing the Saudi private sector, the sources, who spoke on condition of anonymity, said. While they pledged […]

By David Morgan | WASHINGTON WASHINGTON U.S. Senate Democrats, seeking to capitalise on growing disclosures about the Trump campaign’s contacts with Russia, urged a top Republican lawmaker on Tuesday to obtain President Donald Trump’s tax returns as a matter of national security. It was the second request for Trump’s returns by Senate Democrats in as many weeks, part of a Democratic campaign to pressure Republicans in Congress […]

Shanghai is regarded as the leading hub outside of Silicon Valley for technology innovations for the next four years, according to a KPMG report released on Monday. The report, claiming to reflect the viewpoints of over 800 global technology business leaders, placed Shanghai, New York, Tokyo, Beijing, and London in the first five places. The report explained that Shanghai became the top pick outside of Silicon Valley […]

The Panama Papers investigation has this week received its fourth major American journalism prize, the William Brewster Styles Award for Business/Economics Reporting from the Scripps Howard Foundation. The series, which illuminated offshore tax havens and shook up politicians around the world, was coordinated by the International Consortium of Investigative Journalists, at the time a project of the Center for Public Integrity. The two organizations have since separated. […]

Dubai is planning to set up a new One Day Court in an effort to speed up the legal process in the country. The initiative is part of penal order law No 1 of 2017 which was approved on Tuesday by Sheikh Mohammad bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, state news agency WAM reported. Under the law, the One Day Court […]

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