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Mumbai: The government is continuing its efforts to retrieve money stashed away illegally in foreign banks, including those in Panama, even as it hunts black money evaders at home. A team of tax officers and other civil servants visited Panama and some other key jurisdictions for tax information exchange in December, said two with people direct knowledge of the matter, requesting anonymity. “The government is targeting that […]

SEOUL A South Korean court on Thursday dismissed a warrant to arrest the head of the Samsung Group, the country’s largest conglomerate, a court spokesman said, amid a graft scandal that led to the impeachment of President Park Geun-hye. The decision by the Seoul Central District Court to allow Jay Y. Lee to go home is likely to come as a major relief to the company and […]

At least $13.3 billion of government projects are at risk of being cancelled in Saudi Arabia this year because of fiscal pressures and changing government priorities, Zawya Projects reported, citing a study by consultants Faithful+Gould. The total value of project awards for 2017 is forecast at $27 billion, and could rise to $32 billion if the Makkah Metro project, which was originally expected to be awarded in […]

By Philip Pullella | ROME ROME A series of strong earthquakes hit snowbound central Italy on Wednesday, a region devastated by deadly tremors last year, killing one man and forcing schools and rail links to close. Four quakes of magnitude 5.2 and higher struck near the hill town of Amatrice, some 100 km (60 miles) northeast of Rome, in the space of four hours. Much of the […]

WASHINGTON U.S. President-elect Donald Trump scrapped a proposal to move news briefings out of the White House, but said he wants his team to choose who gets into the press room. Trump, who will be sworn in on Friday as the 45th U.S. president, has had a contentious relationship with some prominent U.S. news organizations he refers to derisively as the “mainstream media.” The Republican businessman banned […]

Net profit of QAR 427 million by the end of 2016 Total Assets rose by 7% to QAR 60.6 billion Loans and Advances grew by 5% to reach QAR 35.2 billion by the end of 2016 Deposits reached QAR 32.2 billion, up 4% from the previous year Doha, January 18, 2017 Al Khalij Commercial Bank (al khaliji) P.Q.S.C, in Qatar, released its consolidated financial statements for the […]

Saudi Electricity Co (SEC), the Gulf’s largest utility firm, sank to a deeper net loss in its fourth-quarter results as it was hit by higher energy prices and increased operating costs. The company, which the government is aiming to restructure to improve efficiency, made a net loss of 2.34 billion riyals ($624 million) in the three months to Dec. 31, according to a bourse statement on Wednesday. […]

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There has been a lot of discussion about Twitter lately, most of it negative—it can’t make money on advertising, growth is down, and online bullies remain a problem. Meanwhile, Donald Trump tweets daily; more every day since the election. This alone, you’d think, would draw more attention to Twitter and make it more popular. Twitter actually does over $2.5 billion in revenue, but tech companies […]

NEW YORK General Motors Co has agreed to pay $1 million to resolve a U.S. Securities and Exchange Commission accounting case related to a faulty ignition switch linked to 124 deaths and 275 injuries, the regulator announced on Wednesday. The SEC said the deal would resolve charges that accounting control failures at the automaker prevented GM from properly assessing the potential financial impact of the defective ignition […]

Adel Al-Jubeir, Saudi Arabian foreign minister, said the US may face a flood lawsuits if it retains its Justice Against Sponsors of Terrorism Act (JASTA) bill. The bill allows US nationals to sue foreign states for supporting terrorism, regardless of if they are on the US state sponsor of terrorism list or not, thus ending the concept of foreign sovereign immunity. Al-Jubeir warned that this would mean […]

Image credit: BT Wi-Fi systems based on a single router may provide patchy coverage in some homes and small offices, depending on the building’s size and construction. Until recently, users have had to find their own solutions using Wi-Fi extenders and/or HomePlugs. In the USA, companies such as Eero, Luma and Google have launched multi-part systems that create a mesh network to provide good coverage throughout a […]

FRANKFURT Deutsche Bank (DBKGn.DE) expects a negative impact of $1.2 billion on its fourth-quarter pretax profit from a civil monetary penalty of $3.1 billion agreed with the U.S. Department of Justice, its chief executive said in a message to staff. Germany’s biggest bank on Tuesday finalised a $7.2 billion settlement with the DoJ over its sale of toxic mortgage securities in the run-up to the 2008 financial […]

New stock trading allegations are set to cast a shadow over Tom Price’s confirmation hearing as health secretary on Wednesday, as Senate Democrats prepare to do battle over Donald Trump’s latest cabinet picks. On Wednesday Senate Democrats and Republicans will question Mr Price, a sitting Republican congressman, over his fitness for the health role and his plans for repealing and replacing Obamacare — a key policy agenda […]

Kitchen Nation, a fully equipped culinary incubator, has opened its doors in Jumeirah Lake Towers, Dubai. The incubator is launched to help start-up founders and small business owners to connect, develop ideas, and seize opportunities in the local F&B sector, in addition to offering a number of services, such as facilities, sales, events, consulting and marketing. Rami Salous, founder and CEO of Kitchen Nation, struggled with getting […]

By Saikat Chatterjee | HONG KONG HONG KONG Asian stock markets held near three-month highs on Wednesday as investors scooped up exporter shares after U.S. President-elect Donald Trump expressed concerns over a stronger dollar. In Asia, MSCI’s ex-Japan Asia-Pacific shares index .MIAPJ0000PUS rose 0.3 percent, just shy of a three-month high hit last Thursday. Stock markets in Hong Kong .HSI and China .SSEC led the gains. “Trump’s […]

Abu Dhabi Investment Authority (ADIA), one of the world’s biggest sovereign wealth funds, sees investment opportunities in China’s fixed income and real estate markets, as well as smaller Chinese companies, its managing director told China Finance. ADIA, which has been investing in China for 25 years, has its largest exposure in listed equities, including a $2.5 billion allocation to the China A market, which lists shares denominated […]

Saudi Arabian budget carrier flynas is to buy 80 Airbus A320neo narrow body jets in a deal worth $8.6 billion that includes upgrading an earlier order, it said on Monday. The 80 A320neo order is valued at $8.6 billion, flynas Chairman Ayed Al Jeaid said at press conference in Riyadh on Monday. The order is for 60 A320neos and an upgrade of an existing order for 20 […]

By Ju-min Park and Se Young Lee | SEOUL SEOUL Samsung Group leader Jay Y. Lee arrived at a prosecutor’s office in Seoul on Wednesday en route to a court hearing, where a judge will decide whether he should be arrested over his alleged role in a corruption scandal that has rocked South Korea. The 48-year-old Lee, wearing a dark overcoat and purple necktie, did not answer […]

SACRAMENTO San Francisco Federal Reserve Bank President John Williams on Tuesday called for gradual U.S. interest-rate hikes over the next few years to keep the economy from overheating and ultimately falling into recession. With the unemployment rate at 4.7 percent, the U.S. economy has reached full employment, Williams said, adding that inflation is on track to reach the Fed’s 2-percent goal over the next couple of years. […]

The popular Samsung SmartCam IP cameras have been affected by a security flaw that could make the devices prone to hijacking and be exploited by remote attackers. The flaw was discovered by a hacking group called the Exploitee.rs. The group discovered a local server vulnerability that could be used to gain root access to the device. The hack can be done by injecting a command file into a web […]

The US has sued Qualcomm over the way it licenses its technology for mobile phones, hitting at the business that generates most of the US chip company’s profits. The case follows an investigation begun in 2014, but which was accelerated in recent weeks as the Federal Trade Commission moved towards filing a high-profile antitrust case just days before a new administration takes control in Washington. Qualcomm’s shares […]

The mass shooting at an Istanbul nightclub on New Year’s Eve was carried out professionally with the involvement of an intelligence organisation, Turkish Deputy Prime Minister Numan Kurtulmus said on Monday. “It appears the Reina attack is not just a terrorist organisation’s act, but there was also an intelligence organisation involved. It was an extremely planned and organised act,” Kurtulmus said during an interview with broadcaster A […]

It’s a new year and to start the year off right, I just put one of my favorite apps back on my iPhone 7 Plus home screen. Evernote just announced the release of Evernote 8.0 for iOS devices with a focus on speed and simplicity. My usage of Evernote began almost 11 years ago on a Samsung Q1 UMPC tablet device and it continues to be one […]

By Caroline Valetkevitch | NEW YORK NEW YORK U.S. stocks fell on Tuesday as financials and other big post-election gainers lost ground. Biotech and pharma stocks declined after President-elect Donald Trump said in a Washington Post interview over the weekend that he would target companies over drug pricing and that he was ready to unveil a plan to replace Obamacare. The Nasdaq biotech index .NBI was down […]

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