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Reuters/Tyrone Siu/File Photo SEOUL South Korea’s LG Electronics Inc (066570.KS) said on Friday its second-quarter operating profit likely reached a two-year high, with analysts pointing to strong contributions from its mainstay home appliances and television set businesses. The world’s second-biggest TV maker by market share, behind compatriot Samsung Electronics Co Ltd (005930.KS), said in a regulatory filing that April-June profit was likely 585 billion won ($504 million), […]

A Nintendo video game logo is seen at the Electronic Entertainment Expo, or E3, in Los Angeles, California, United States, June 17, 2015. Reuters/Lucy Nicholson TOKYO Shares in Japan’s Nintendo Co surged on Friday as consumers flocked to try out its new Pokemon GO smartphone game, raising hopes that the company’s long-awaited shift into mobile gaming will pay off. Seeking to protect its console business, the Japanese […]

The logo of Facebook is seen at the Cannes Lions Festival in Cannes, France, June 23, 2016. Reuters/Eric Gaillard The U.S. Internal Revenue Service is examining Facebook Inc over its transfer of various rights associated with its worldwide business to a holding company in Ireland, according to court papers. The U.S. Justice Department filed a lawsuit on Wednesday in federal court in San Francisco seeking to enforce […]

|By Matein Khalid| The merger of Abu Dhabi banks First Gulf Bank and NBAD creates the largest bank in the Middle East, a regional colossus with $170 billion in assets, competitive funding cost in the global interbank/capital markets and a market value greater than Credit Suisse, Standard Chartered Bank (SCB) and Deutsche Bank. This is the biggest game changer event in UAE banking and finance since the […]

|By Matein Khalid| David Cameron, Wall Street’s elite, Mutti Merkel, Obama, the Eurocrats of Brussels, the great and the good of the City and the IMF’s Lady Christine all got it so horribly wrong. I slept Thursday night with sterling at 1.50 on New York and awoke to see it trade at 1.34 on Friday, a 30 year low before the Plaza Accords. Britain has voted to […]

SAN FRANCISCO Facebook Inc on Wednesday offered a rare glimpse into how it ranks and shows content in its News Feed, part of an effort to provide more transparency about its operations as the social network’s cultural and political influence continue to grow. The disclosures, though lacking in detail, are notable in part because they come in the wake of a May news report alleging liberal political […]

BERLIN/LAGOS When German e-commerce investor Rocket Internet launched Jumia in 2012 as a would-be African Amazon, it was optimistic that a rapidly expanding middle class would quickly shift from street markets to shopping online. Four years on, falling sales for sites like Jumia and slower growth from Nigeria to Russia and Brazil is casting doubt on Rocket Internet’s ambition to become the world’s biggest Internet company outside […]

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ABU DHABI // Shoppers have complained of high parking fees at Al Wahda Mall as customers shop during Ramadan and ahead of Eid. One shopper, Sanober Shah, said she was “shocked” to have to pay Dh100 after spending seven hours at the mall, where she has shopped for years. “As far as I knew, the first three hours of your cark parked there are free, then you […]

Two days after reporting that 655,000 healthcare records were found for sale on the dark web, the site DeepDotWeb said today that another insurance database with at least 9.3 million patient records is being shopped around by an anonymous hacker. Over the weekend, a hacker using the name “thedarkoverlord” was offering for sale records taken from databases managed by three healthcare organizations in Missouri, Georgia and the […]

UAE. Deloitte’s Technology, Media & Telecommunications (TMT) practices highlight the increasing trends for connectivity and mobile phone usage across the board in Deloitte’s  latest report entitled: Global Mobile Consumer Trends. Both intensity in usage and ownership rates are increasing―in some categories more than doubling―pointing to dramatically changing consumer behaviors, and a shift towards non-voice communications such as text and instant messaging (IM). Deloitte conducted a survey designed […]

SAUDI ARABIA.  Saudi Arabia approved the National Transformation Plan (NTP) on Tuesday June 7, 2016, as part of Saudi Vision 2030 and goal to reduce reliance on oil. The NTP aims to boost non-oil revenue to 530 billion riyals (US$141 billion) by 2020 through more than 500 initiatives including the implementation of new taxes and increasing government fees and taxes on “harmful products”. Minister of State Mr. […]

People are silhouetted as they pose with laptops in front of a screen projected with a Google logo, in this picture illustration taken in Zenica October 29, 2014. Reuters/Dado Ruvic/Files BERLIN German publishers have appealed a Berlin court’s rejection of a case in which they accused Google of abusing its market power by refusing to pay them for displaying newspaper articles online, a lawyer for the publishers […]

UAE.  A new generation of young, highly motivated and mostly well-educated men and women is ready to take over leadership of their family businesses, according to Deloitte’s latest report conducted across the Europe, Middle East and Africa region entitled “Next-generation family businesses Evolution, keeping family values alive.” They are resolute and ready to face the challenges ahead in order to maintain the family character of the business […]

UAE.  Boardrooms’ awareness of cyber risks has been recently growing in Europe, Middle East and Africa, with cyber security ranking far up on the agendas of non-executive directors in the region, according to Deloitte’s recent report entitled “EMEA 360 Boardroom Survey: Agenda priorities across the region.” The report reveals that innovation is also gaining ground with 60% of respondents ranking it as a very important issue. These […]

Government has been informed and security of the strategically important facility beefed up, committee says Jammu: Terrorists are hiding in villages close to the “vulnerable” Pathankot airbase, which can come under fresh attack from them, the Parliamentary Standing Committee (PSC) on Home Affairs said on Tuesday. It said the government has been informed about it and security of the strategically important facility beefed up. The committee was […]

What’s being called a sophisticated but possibly futile cyberattack on GoToMyPC, a British remote PC access provider, has caused its parent company to reset the passwords of all its clients. GoToMyPC is owned by Citrix, the American software company that provides server, application and desktop virtualization, networking and other services. Citrix bought GoToMyPC from ExpertCity in 2004. The attackers apparently used login names and passwords found in […]

BAGHDAD — Long before Falluja was known the world over for deadly jihadists, it was known all over Iraq for its kebab — fatty lamb, ground and mixed with onion, grilled on a skewer over an open fire and served with a pinch of sumac — at a joint called Haji Hussein. Everyone, it seemed, ate at Haji Hussein: locals, soldiers, tourists and businessmen traveling the Baghdad-to-Amman […]

SoftBank Group Corp. President and COO Nikesh Arora attends a conference of start-up businesses in New Delhi, India, January 16, 2016. Reuters/Adnan Abidi/Files TOKYO SoftBank Group Corp said on Tuesday that President Nikesh Arora would resign as of Wednesday’s shareholders meeting, less than two years since he joined the Japanese Internet conglomerate. SoftBank said Arora and Chairman and Chief Executive Masayoshi Son had disagreed over when Arora […]

Protesters from the Anonymous India group of hackers wear Guy Fawkes masks as they protest against laws they say gives the government control over censorship of internet usage in Mumbai, June 9, 2012. Reuters/Vivek Prakash SAN FRANCISCO/ TORONTO At least a dozen countries are considering or have enacted laws restricting online speech, a trend that is alarming policymakers and others who see the internet as a valuable […]

During its annual SugarCon conference last week, customer relationship management (CRM) firm SugarCRM unveiled a new machine learning-based offering that’s currently in development: Sugar Intelligence Service. The service, which will be delivered through a Siri- or Cortana-like artificial intelligence (AI) agent called “Candace,” will combine companies’ in-house data with other outside sources to provide predictive analytics and a more 360-degree view of customers. No release date or […]

A new enterprise offering introduced by Oracle today is designed to enable independent software vendors (ISVs) to transition their businesses to the cloud, the company said. The new platform, called the Oracle Cloud Platform Ready for Independent Software Vendors, will allow ISVs to quickly register and publish their Oracle Cloud-compatible applications on the Oracle Cloud Marketplace, allowing them to fast-track new business opportunities in the cloud. Oracle’s […]

After relishing a cocktail of cheap crude mixed with profits from fuel sales, Asia’s oil processors are facing their reckoning over a lack of restraint. Profits from turning crude into fuel in Asia since the beginning of April have averaged almost a third lower than levels over the previous six months, and are down 40 percent from the same period a year earlier. That’s already prompted some […]

By the end of this week, Facebook expects to complete a “major” update to Messenger for Android that will enable people to use the app to send and receive standard SMS text messages. Vice president of messaging products David Marcus announced the update yesterday in a post on his Facebook page. Rolling out to “most countries,” the latest version of Messenger for Android will be a fully […]

AMMAN, Jordan — Jordan’s national census takers made something of a stark discovery earlier this year when they found that nearly a third of the country’s 9.5 million residents are not, technically speaking, Jordanians. For decades, the country has absorbed successive waves of people fleeing war and chaos. Lately it has been the Syrians, but before them came Iraqis, Sudanese and Palestinians, not to mention those from […]

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