The richest 1% of Indians hold 58% of the country’s total wealth, according to Oxfam India. The stark inequality in India is worse than the global data put out by the organization, which show that the richest 1% have more than 50% of the total world wealth, Oxfam said. The anti-poverty advocacy group released a report, “An Economy for the 99%” this week to coincide with the […]
By Kylie MacLellan and William James | LONDON LONDON Britain will not seek a Brexit deal that leaves it “half in, half out” of the EU, Prime Minister Theresa May will say on Tuesday in a speech setting out her priorities for divorce talks which indicates she is prepared to leave the single market. Sterling, which has traded at the lowest levels against the U.S. dollar for […]
17 January 2017 Doha, Qatar – The Qatar Financial Centre Regulatory Authority (“QFC Regulatory Authority”) has been approved as a full signatory to the International Organisation of Securities Commissions (“IOSCO”) Multilateral Memorandum of Understanding Concerning Consultation and Cooperation and the Exchange of Information (“MMoU). The approval of the QFC Regulatory Authority as a signatory to the IOSCO MMoU comes after a rigorous screening process of the applicant’s […]
The Emirates Authority for Standardisation and Metrology (ESMA) has announced that it is working on new regulations to cover electric vehicles in the UAE. The UAE System for Electric Vehicles, the first of its kind regionally, will come into operation later in the first quarter of 2017 after approval by the UAE Cabinet, news agency WAM reported. Dr Rashid Ahmed Bin Fahad, Minister of State and chairman […]
By Henning Gloystein | SINGAPORE SINGAPORE Oil dipped on Tuesday on lingering concerns over global fuel oversupply due to rising U.S. output and doubts that OPEC and other producers would adhere to commitments to cut output in an effort to balance markets and prop up prices. Brent crude futures, the international benchmark for oil prices, were at $55.55 per barrel at 0643 GMT, down 31 cents from […]
Facebook is throwing its weight behind French tech by choosing Paris to launch its first official start-up incubator, as the battle heats up among European capitals to lure the best tech companies following the Brexit vote. The social media giant announced on Tuesday it had become a founding partner in Station F, a €250m start-up campus in central Paris that is set to be the largest in […]
Photo Celebrations erupted in the courtroom when the verdict was announced. Credit Mohamed El-Shahed/Agence France-Presse — Getty Images CAIRO — An Egyptian court on Monday upheld a ruling that said the government cannot transfer control of two key Red Sea islands to its main financial backer, Saudi Arabia, deepening a rift between the two Middle Eastern countries. The alliance between Egypt and Saudi Arabia, two of the […]
Baidu has announced the appointment of Dr Qi Lu as its group president and chief operating officer, who will be responsible for the organisation’s products, technology, sales, marketing, and operations, effective immediately. Lu joins the search engine giant from Microsoft, where he served as the company’s global executive vice president and led Microsoft’s Office business. Prior to Microsoft, Lu was senior vice president in charge of search […]
Bahrain’s foreign ministry summoned Iraq’s ambassador in Manama to protest against remarks by Iraqi officials denouncing the execution of men convicted of a 2014 bomb attack, state news agency BNA said on Monday. The execution on Sunday of three men, whose attack killed three policemen, has drawn condemnation from rights groups. Iran called it a “reckless” act. British Foreign Secretary Boris Johnson said Britain opposes the death […]
MANILA Philippines President Rodrigo Duterte will meet on Tuesday with China’s Vice Foreign Minister Liu Zhenmin, the most high-profile Chinese visitor since he took power last year and launched surprise moves to engage with historic rival Beijing. Duterte will meet Liu late in the day in what presidential spokesman Ernesto Abella said was nothing more than a courtesy call. Liu was meeting foreign ministry counterparts to discuss […]
BEIJING Cadillac, General Motors Co’s (GM.N) luxury brand, is predicting a double digit growth rate in China sales this year, the brand’s country chief Andreas Schaaf told Reuters on Tuesday. The brand – which opened its first dedicated factory in China last year, helping boost Cadillac sales in the country by 46 percent – expects China to become its top market in less than five years, Schaaf […]
Theresa May will test the nerves of currency markets on Tuesday when she declares that Britain is making a clean break from the EU and will not seek a deal that leaves the country “half in and half out”. Mrs May’s comments will be seen as confirmation that Britain is leaving the single market — sometimes referred to as “a hard Brexit” — although she will leave […]
Saudi Arabian Airlines’ budget carrier Flyadeal will lease six Airbus A320s, an Airbus executive said on Monday, a sign that the European planemaker might again have pipped Boeing in the race to win a big Middle East deal. Flyadeal, which is set to start services in mid-2017, is aiming to operate a fleet of up to 50 narrow body jets by 2020 and Saleh al-Jasser, director general […]
By Kylie MacLellan | LONDON LONDON Britain will not seek a Brexit deal that leaves it “half in, half out” of the European Union, Prime Minister Theresa May will say on Tuesday, according to her office, in a speech setting out her 12 priorities for upcoming divorce talks with the bloc. Those priorities will include leaving the European Union’s single market and regaining full control of Britain’s […]
Nakheel on Sunday said it has invited bids for construction of $1.36 billion (AED5 billion) Deira Islands Boulevard, its new community for 10,000 people. The developer said it will release a tender this week for the construction of 2,924 apartments and townhouses in 16 residential towers spread across four clusters, each containing a swimming pool and extensive retail, restaurant and recreation space. Each of the 21-storey, 16 […]
CARACAS OPEC Secretary-General Mohammed Barkindo forecast on Monday that stability would return to oil markets this year while price hawk Venezuela said it hoped its crude basket would rise to $70 in coming months. The head of the Organization of the Petroleum Exporting Countries was back in Caracas for a second meeting in two months with President Nicolas Maduro whom he lavishly praised for an “inspirational” role […]
This year could usher in a new era for Amazon’s in the context of AI devices as reports suggest that the Amazon Echo will dominate the AI space in 2017. In 2016, the Amazon Echo dominated the sales and ended up being one of the top selling items on Amazon.com. Now, Forrester Research’s estimates suggest that 6 million Echo devices were sold in 2016. The Amazon Echo, features […]
Asset price movements in the past few weeks have pointed both to the upside and a major risk for the global economy and markets under a Trump administration. Enthusiasm over higher US growth powering the global economy has been tempered at times by worries that certain elements of the president-elect’s “America First” approach could undermine longstanding trading relationships, opening up the risk of economic and financial disruptions. […]
Home» Pakistan » General News Tuesday, 17 January 2017 01:50 Posted by Fawad Maqsood ISLAMABAD: Advisor to the Prime Minister on National History and Literary Heritage Irfan Siddiqui Monday said Pakistan Tehreek-i-Insaf (PTI) should wait for the verdict of Supreme Court regarding Panama Papers case. Talking to a private news channel, he said the government would […]
Telstra and Ericsson have announced achieving the encryption of data while in transit over a 10Gbps link between Australia and the United States by using telecommunications equipment and software provider Ciena’s 10Gbps wire-speed ultra-low latency encryption solution. Using what they call advanced optical encryption technology, the companies demonstrated the ability to secure data while in transit between Melbourne and Los Angeles without impacting speed, reliability, and latency. […]
Jordan’s King Abdullah reshuffled his cabinet but retained Hani Mulki as prime minister on Sunday, granting him more scope to tackle the threat of Islamist militants and to press ahead with unpopular IMF-mandated reforms to cut spiraling public debt. The reshuffle, the second since the business-friendly Mulki was appointed last May, comes at a time of sluggish economic growth, poor business sentiment and concerns over Jordan’s political […]
The Brazilian IT industry is predicted to grow by 3.3 percent and generate revenues of R$76,1 million ($23,4 million) in 2017, according to an annual trends survey by Brazilian analyst firm IT4CIO. The survey on technology investment trends surveyed 1,500 IT decision makers at large and medium-sized companies and found that 45 percent of executives expect investment growth, while 22 percent stated that a budget reduction is […]
LONDON (Thomson Reuters Foundation) – Donald Trump’s administration, heavy with fossil fuel industry backers, could cause major damage to efforts to deal with climate change through measures such as cutting access to satellite data for weather forecasting and climate research, scientists warned Monday. But the president-elect may prove more pragmatic than some of his Republican counter-parts on the politically charged issue of climate change, particularly if a […]
By Jessica DiNapoli and Lisa Richwine American Apparel LLC started to lay off staff on Monday after Canada’s Gildan Activewear Inc (GIL.TO) withdrew its initial plan to buy some of the bankrupt U.S. fashion retailer’s manufacturing operations, company employees said. Gildan won the rights to American Apparel’s brand with an $88 million bid in a bankruptcy auction last week. It had previously indicated it would assume some […]
