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MUMBAI—A Morgan Stanley Investment Management Fund has slashed the valuation of its holding in India’s leading e-commerce firm Flipkart Internet Pvt. by 38%, as the startup faces increased competition from U.S. rival Amazon.com Inc. and others. In a filing this week to the U.S. Securities and Exchange Commission for the quarter ended Sept. 30, the fund called the Morgan Stanley Select Dimensions Investment Series said it held 1,969 shares in the company, which […]

Javier Duarte, governor of the state of Veracruz, attends a news conference in Xalapa, Mexico, August 10, 2015 (Reuters/Stringer). Last June, Mexico elected new governors in twelve of its thirty-one states. As millions of voters went to the urns, corruption was a top concern (along with insecurity). Eight states saw the incumbent party kicked out; in four—Veracruz, Quintana Roo, Chihuahua, and Durango—the PRI lost for the first […]

Photo Prince Alwaleed bin Talal in Riyadh, Saudi Arabia, in 2015. In a four-page letter posted on his personal website, the prince argued that “it is high time that Saudi women started driving their cars.” Credit Fayez Nureldine/Agence France-Presse — Getty Images A prominent Saudi prince and business magnate has added his voice to the debate over women’s rights in his country, urging it to abandon its […]

Ulster Bank Parent RBS Fails Bank of England Stress Test “Royal Bank of Scotland (RBS)(RBS.L) will cut costs and sell assets to boost capital levels, it said on Wednesday after failing this year’s Bank of England stress test, which warned of a “challenging” outlook for Britain’s financial system. The state-backed lender rushed out a statement following the announcement to say it would take a range of actions, including […]

WASHINGTON President-elect Donald Trump’s pick for U.S. Treasury secretary, Steven Mnuchin, said on Wednesday the administration would target tax reform and trade pact overhauls as top priorities as they seek to achieve 3 percent to 4 percent economic growth. Mnuchin and Wilbur Ross, Trump’s nominee for commerce secretary, outlined their agenda, including what Mnuchin called the largest tax overhaul since the Ronald Reagan administration, in an interview […]

Qatar said it would provide $1.25 billion in aid to shore up Tunisia’s post-revolution economy as regional and Western partners pledged extensive financial backing at an investment conference on Tuesday. The money from Qatar, announced by the emir, Sheikh Tamim bin Hamad al-Thani, is the biggest single offer of aid to Tunisia since a 2011 uprising ushered in a democratic transition but also years of economic uncertainty […]

Toyota wants to release a new version of its hydrogen-powered Mirai in time for the 2020 Tokyo Olympics, underscoring its commitment to fuel-cell vehicles despite joining the global market for battery-powered cars. “The 2020 Olympics could be the venue to showcase [the new Mirai] to the world,” Kiyotaka Ise, head of advanced research and development at Toyota, told the Financial Times. The world’s top selling carmaker this […]

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Credit: Concordia University In the age of WikiLeaks, Russian hacks and increased government surveillance, many computer users are feeling increasingly worried about how best to protect their personal information—even if they aren’t guarding state secrets. Luckily, there’s a solution: Hypnoguard, powerful new software developed by Concordia University researchers to safeguard data even when computer is in sleep mode. Sweet dreams are made of this “Protecting […]

5774 25 by Shannon K. O’Neil October 14, 2016 Demonstrators chant slogans while flashing the Oromo protest gesture during Irreecha, the thanksgiving festival of the Oromo people, in Bishoftu town, Oromia region, Ethiopia, October 2, 2016 (Reuters/Tiksa Negeri). Fighting the Worst Kleptocracies Worse than kleptocracies are violent kleptocracies, as defined in a new report by advocacy group The Enough Project. In these, leaders run the state as […]

ICANN became independent on October 1, 2016 after the expiration of an 18-year contract to manage the technical functions of the internet address system which ensure that users arrive at certain websites The internet address system gatekeeper, independent after a split from the US government, is now in a phase where “the grassroots are in charge,” its top executive said Tuesday. Goran Marby, president and chief executive […]

The first lawsuits by families of victims of last year’s crane crash in Makkah have been filed at a Saudi Arabian court, local media said on Tuesday. Five legal cases have been filed at the Summary Court in Jeddah, according to Saudi Gazette. The cases reportedly claim compensation after 110 people died and more than 200 others were injured when a crane involved in the redevelopment of […]

/By Maxwell Wessel/The term “big data” is ubiquitous. With exabytes of information flowing across broadband pipes, companies compete to claim the biggest, most audacious data sets. And businesses of all varieties — old and new, industrial and digital, big and small — are getting into the game. Masses of social, weather, and government data are being leveraged to predict supply chain outages. Enormous amounts of user data are being […]

By Rania El Gamal and Alex Lawler | VIENNA VIENNA OPEC began on Wednesday debating a deal to curtail oil production and prop up the price of crude, with Iran and Iraq resisting pressure from Saudi Arabia to participate fully in any action. Ministers from the Organization of the Petroleum Exporting Countries started an informal meeting at 0700 GMT at the Vienna Park Hyatt hotel and were […]

5791 25 by Shannon K. O’Neil October 21, 2016 Brazil’s President Michel Temer, Russian President Vladimir Putin, Indian Prime Minister Narendra Modi, Chinese President Xi Jinping and South African President Jacob Zuma pose for a group picture during BRICS (Brazil, Russia, India, China and South Africa) Summit in Benaulim, in the western state of Goa, India, October 16, 2016 (Reuters/Danish Siddiqui). BRICS Fund InfrastructureAs commodity prices have […]

Schon Properties has announced the development of iSuites, a $870 million home-grown hospitality portfolio that will see the development of 2,700 hotel apartments at a single site within Dubai Investment Park, close to the World Expo 2020 site.  The complex includes 21 mid-rise buildings and will be delivered by 2020, the Dubai-based developer said in a statement. The branded hotel apartments will be managed by international hotel […]

Muscat, November 30, 2016 As part of its on-going support of Small and Medium Enterprises (SME) and in line with the Government’s initiatives to boost the SME sector within the country, Bank Sohar recently participated and sponsored as a bronze sponsor in the fourth edition of the Ebda‘at Omaniya SME Expo; marking its second consecutive year of support for the event. As part of its participation, the […]

Replicas of R$100,00 banknotes are hung on a clothesline during a protest of the national union of prosecutors against money laundering in Brazil, at the Esplanade of Ministries in Brasilia March 18, 2015 (Reuters/Ueslei Marcelino). The Brazilian Federal Revenue Secretariat (SRF) has some good news to cheer: a big haul of fines and taxes from assets held offshore by Brazilians. The deadline for filing under Brazil’s equivalent […]

COLOGNE, Germany Ford (F.N) wants to raise profitability in Europe by adding higher-margin versions of the Fiesta subcompact, its best-selling regional model, the carmaker’s top European executive said. High-volume carmakers such as Ford have for several years been squeezed in a downmarket expansion by luxury rivals including Daimler’s (DAIGn.DE) Mercedes-Benz and Volkswagen’s (VOWG_p.DE) Audi. But Ford, which already targets premium buyers with higher-end versions of some of […]

SHARJAH // Hundreds of Emirati families and residents from across Sharjah kicked off celebrations on Tuesday ahead of the 45th National Day. Boys dressed in army uniforms and girls wearing gowns in the colours of the UAE flag enjoyed traditional yola dancing and performances of plays at National Park on Airport Road. Families sat on the grass, drinking coffee and tea and revelling in the festivities. Emirati […]

BEIJING Foreign non-governmental organisations (NGOs) in China must provide details of where their funding comes from and show that their chief representative has no criminal record, the government said of new rules due to come into effect next year. Western governments have lambasted the foreign NGO law passed in April, saying it treats the groups as a criminal threat and would effectively force many out of the […]

Commercial Bank of Qatar will cut its exposure to the property market and lend more to the public sector as it set out a turnaround plan under its new chief executive aimed at stemming a dismal earnings run as more loans soured. The Gulf Arab state’s third-largest lender by assets, like other banks in the region, has seen bad loans rise steeply due to the fallout of […]

The most powerful judge Australia is a woman who dropped out of high school. Susan Kiefel in January will become the next chief justice of the High Court of Australia. Her appointment, announced Tuesday by Australian Prime Minister Malcolm Turnbull and Attorney-General George Brandis, marks the first time that a woman will preside over the country’s highest court. Reports the Australian: When the Prime Minister phoned to lock […]

5811 25 by Shannon K. O’Neil October 28, 2016 Brazilian aircraft maker Embraer’s CEO Frederico Curado (R) salutes workers next to an new Embraer E190-E2 during its unveil in Sao Jose dos Campos, Brazil, February 25, 2016. Brazilian planemaker Embraer SA is in early talks with Iran, with a focus on commercial aviation, following the end of international sanctions, Chief Executive Curado told journalists on Thursday (Reuters/Nacho […]

November 30, 2016 by: FT Confidential Research The FTCR China Business Activity Index, a composite reading of the month-on-month change in activity in the real estate, export and freight sectors, fell to a 10-month low in November. The index dropped to 47.8 from 50 in October, below last November’s 48.6. Our BAI readings have always fallen sequentially in November but this is the weakest reading for the […]

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