SEOUL South Korean special prosecutor’s office said on Tuesday it is seeking an arrest warrant for Samsung Group [SAGR.UL] leader Jay Y. Lee as part of its investigation into a graft scandal that could topple President Park Geun-hye. The special prosecution said it would also seek an arrest warrants for Samsung Electronics Co Ltd (005930.KS) President Park Sang-jin. It did not elaborate or say what charges it […]
A new wellness event aims to convince people to give up on unrealistic and unhealthy pursuits of happiness. The Happiness Festival – at the Dubai Polo and Equestrian Club on Friday, February 17 – was conceived by Fiona Barron and Saleem Ali. They are the founders of the Happiness Hub – an organisation that works with businesses to improve corporate wellness and employee engagement. The festival will […]
After a five-hour delay, Toshiba has finally unveiled a $6.3bn nuclear writedown. The company announced that Shigenori Shiga, the chairman of Toshiba, will step down after the struggling Japanese industrial group warned that it would book a ¥712.5bn ($6.3bn) writedown to reflect massive cost overruns and delays linked to several nuclear projects in the US. For the full year through March 2017, the company said it anticipates […]
Hundreds of drivers with ride-hailing service Uber in Qatar went on strike on Monday for the second time in a year to protest against fare cuts. The US-based company, which started operations in Doha in 2014, has in recent months cut fares by 15-20 percent for passengers amid growing competition from local firms. Uber drivers in Doha stayed home on Monday to protest the cuts and an […]
Submitted by Milton Ezrati via The Strategic Culture Foundation, Just about every adult on earth has seen this show before. Greece faces a debt repayment that it cannot meet: for this performance, €86 billion due in July. It needs fresh bailout funds from the European Union and/or the International Monetary Fund because borrowing directly on global capital markets comes at too high a cost—10 percent to replace […]
By Cindy Silviana and Eveline Danubrata | JAKARTA JAKARTA Supporters of the governor of Indonesia’s capital are hoping their checkered shirts in red, white and blue will help galvanize the vote in a city election on Wednesday and win a second term for their leader. Basuki Tjahaja Purnama is Jakarta’s first ethnic Chinese and Christian governor, and the election in the city of 10 million people has […]
Last week, Facebook visited journalists in Atlanta and Dallas in what looks like the start of a more reciprocal relationship between the social media giant and local newsrooms. Journalists rely on Facebook to help them reach their audiences, but, until now, Facebook’s attention has largely been on national news organizations. The visits are part of the Facebook Journalism Project, which Poynter is part of. San Diego and […]
NopSec Recorded Future has extended the capabilities of the firm’s threat intelligence platform to harvest data from every source on the web, granting the enterprise increased visibility into emerging digital threats. On Monday at the RSA Conference 2017 in San Francisco, the firm said the Recorded Future Web Intelligence Engine has received a substantial upgrade. The platform, designed with corporate security specialists in mind, automatically slurps data […]
Shuaa Capital is working on a bolt-on acquisition of a financial services company based in the United Arab Emirates as part of the investment bank’s growth plans, chairman Jassim Alseddiqi told Reuters on Monday. The price for the targeted company, which specialises in capital markets and securities, would be less than 200 million dirhams ($54.46 million), Alseddiqi said. He also said discussions were at an advanced stage […]
SYDNEY Asian shares inched to 19-month highs on Tuesday as the potential for economic stimulus in the United States underpinned the dollar, bond yields and Wall Street stocks. Yet caution bled into markets ahead of testimony by the head of the Federal Reserve, which could highlight the likelihood of two or more U.S. interest rate hikes this year. Japanese shares also ran into trouble after Toshiba Corp […]
Huawei’s next flagship smartwatch is now believed to be unveiled at this year’s Mobile World Congress, as informed by a recent Weibo post by Huawei’s CEO. The device in question will reportedly feature calling, texting, and more, without a smartphone. ( Vivien Killilea | Getty Images ) Huawei looks seemingly set to unveil its next flagship smartwatch, the Huawei Watch 2, at this year’s Mobile World Congress in […]
DUBAI // Sustainable travel hit the UAE running on Monday, as US electric car maker Tesla opened for business in Dubai with plans to launch a shop and service centre in Abu Dhabi next year. Chief executive Elon Musk said at the World Government Summit in Dubai that the company planned to invest millions in the UAE on infrastructure including recharging stations. “We expect to invest tens […]
Donald Trump’s embrace of protectionism and opposition to multilateral trade deals has prompted EU leaders to ask how Europe might deepen ties with Asia as a way of bolstering global commerce and safeguarding export markets. Some officials have talked about Europe performing its own trade pivot to Asia as well as other emerging markets. But closer engagement, especially with China, at a time of global economic upheaval […]
Saudi Arabia’s Capital Market Authority (CMA) said on Monday that it had approved public offerings for two companies on its bourse dedicated to small and medium-sized businesses. Roya Real Estate Investment Company will offer 20 percent of itself in its share sale, equivalent to 8.6 million shares, with Thob Al-Aseel Company offering 20 percent of itself in its share sale, equivalent to 1.0 million shares, the CMA […]
By Nate Raymond | NEW YORK NEW YORK The trial of two men was delayed on Monday in a case stemming from a probe into a bitcoin exchange and a data breach at JPMorgan Chase & Co after prosecutors revealed a new witness. Jury selection was set to begin in Manhattan federal court in the case of Yuri Lebedev, whom authorities call the architect of bitcoin exchange […]
The United States on Monday labelled Venezuela’s vice-president an international drug trafficker, freezing millions of dollars worth of his US-based wealth as it accused him of facilitating multiple one-ton narcotics shipments to Mexico and the US from a Venezuelan air base and the country’s ports. The US Department of the Treasury formally designated Tareck El Aissami a drug kingpin for “playing a significant role in international narcotics […]
The value of stocks listed on the S&P 500 eclipsed $20tn on Monday for the first time, as investor optimism over faster US economic growth and stronger corporate profits propelled the Wall Street equity gauge deeper into record territory. The index, which tracks the largest American companies, has rallied by close to 25 per cent over the past year, pushing its market value $3.6tn higher, according to […]
Along with rising component prices and development and maintenance fees on sales channels, huge research and development (R&D) expenditures eroded Huawei’s margin and profits last year, according to a Sohu article, citing insiders from the Chinese technology firm. Huawei sold 30 percent more handsets year-over-year but profits from its consumer business group, which includes the smartphones segment, was down 10 percent from the year prior to $2 […]
Tesla has launched online sales for its Model S and Model X in the UAE. Californian company’s chief executive Elon Musk was in Dubai launch the dedicated website for UAE customers, where they can visit the online design studio to customise and order the Tesla vehicle. Prices start from $74,800 (AED 275,000) for Model S and $93,600 (AED 344,000) for Model X. First orders of Model S (range […]
IBM CEO Ginni Rometty recently sent an email to her employees detailing her involvement with, and counseling of, the Trump administration. In it, Rometty claimed that her meetings with the Trump administration as part of the president’s business advisory are purely an opportunity to promote IBM’s values and technological expertise. “IBM does not espouse a partisan or political point of view,” the letter states. “Alone […]
By Noel Randewich | SAN FRANCISCO SAN FRANCISCO Shares of Apple (AAPL.O) rose to a record high close on Monday, buoyed by Wall Street’s expectations that the release of a 10th-anniversary iPhone and pent-up customer demand will shore up lackluster sales. The largest component of the S&P 500 and a core holding on Wall Street, Apple’s stock climbed 0.9 percent to end at $133.29, breaking above its […]
Apple stock hit a new all-time high on Monday, driven by investor optimism about a coming iPhone sales “supercycle” and hopes that its $230bn in overseas cash might soon be put to greater use. It has taken two years for Apple to surpass its record closing price of $133 in February 2015, despite briefly breaking above that level during intraday trading at $134.54 in April of that […]
Optimism that the Trump administration is close to proposing a series of business-friendly tax reforms sent the main barometer for US small-cap stocks to a fresh high on Monday for the first time in more than two months. The Russell 2000 index, which tracks companies with market values of roughly $300m to $2bn, climbed as much as 0.7 per cent on Monday to 1,398.6, knocking out its […]
Top OPEC oil producer Saudi Arabia made a large cut in its crude output in January to support prices and lessen a glut, helping boost compliance with the group’s supply-reduction deal to a record high of more than 90 percent. The Organization of the Petroleum Exporting Countries is curbing its output by about 1.2 million barrels per day (bpd) from Jan. 1. Russia and 10 other non-OPEC […]
