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Toshiba to cut 7,000 jobs in PC and TV units, sees FY loss

TOKYO Japan’s Toshiba Corp (6502.T) said on Monday it will cut nearly 7,000 consumer electronics jobs after a $1.3 billion accounting scandal, in an overhaul that will streamline the sprawling conglomerate into a company focused on chips and nuclear energy. Toshiba also said it would sell its television manufacturing plant in Indonesia, and that eventual job cuts spanning the entire PC-to-nuclear company could be over 10,000 including […]

Stocks sell off after oil at 7-year low

Almost every Middle Eastern stock index declined after oil, the region’s main source of income, sank to the lowest in seven years, damping the outlook for government spending. Dubai’s DFM General Index ended its longest winning streak in almost three months, sliding 1.5 percent, the most in a week, to close at 3,026.05. Emirates NBD PJSC’s 4 percent retreat was the biggest contributor. The Tadawul All Share […]

BJP IN BAD SHAPE IN WEST BENGAL

MAMATA WOOING CONGRESS AGAIN

By Ashis Biswas

For the Bharatiya Janata Party in Bengal, the theme song could well be akla chalo re: Ironically, as the weakest opposition party in West Bengal, the BJP alone is not contemplating any alliance, with only a few months left before the 2016 Assembly polls.

Among other parties, the usually derided, much weakened Congress has emerged as the prime choice as an alliance partner both for the ruling Trinamool Congress (TMC) and the CPI(M). Interestingly, the Left camp remains divided over the question of political alignments. For instance, the CPI a firm ally of the Congress during the seventies, has put its foot down to any linkage with it, as have smaller parties like the SUCI or the CPI(M-L). The CPI’s logic: it points to its own remarkable decline over the years, which it sees as a consequence of its earlier reliance on

Exclusive – Target in initial development of own mobile wallet: sources

The sign outside the Target store is seen in Arvada, Colorado in this January 10, 2014 file photo. Reuters/Rick Wilking/Files Target Corp (TGT.N) is in the early stages of developing its own mobile wallet, three people familiar with the matter said, joining Wal-Mart Stores Inc (WMT.N) in posing a threat to recent entrants like Apple Pay. The fourth-largest U.S. retailer has not committed to launch the product, […]

IBM and Box Expand Cloud Alliance

After inking an enhanced deal with Salesforce earlier this week, Box has also expanded its strategic alliance with IBM. Box, which lets enterprise users access and manage information in the cloud, announced the move today. Apparently, the initial tie-up between Big Blue and Box was so successful that the companies decided to press the go-to-market and sales pedals a little harder. Under the revamped deal, the companies […]

FCC Shines Light on Mobile Carriers' Free-Data Offers

The Federal Communications Commission (FCC) is asking several mobile carriers to provide it with more information about how their free-data streaming offers relate to the agency’s goal of “maintaining a free and open Internet.” The FCC’s Wireless Telecommunication Bureau sent inquiry letters yesterday to AT&T, Comcast and T-Mobile. All three companies have been promoting programs whereby customers can stream some video and other content without having that […]

Shell wants reform in Dubai crude pricing

Anglo-Dutch oil company Royal Dutch Shell PLC on Thursday called for tougher regulation of the Dubai crude benchmark, the Middle East’s most important oil-pricing mechanism, which has pushed up the region’s prices relative to other grades. “Regrettably, there have been times in recent months where the price of Dubai (crude) was assessed well in excess of the fundamental refining value of other comparable Middle Eastern crudes,” Shell […]

RAHUL GANDHI DETERMINED TO GO TO JAIL ON NATIONAL HERALD ISSUE

By Nora Chopra

The Congress party is divided on the Congress strategy on the National Herald issue. While Rahul is adamant to go to jail, there are senior leaders who feel that it is not the correct strategy to be adopted at this time. According to a Congress general secretary, this is not the same time and neither is Rahul Gandhi an Indira Gandhi, while she had no charges of corruption against her. There are umpteen charges against the erstwhile UPA government. The Morarji government had been harassing Indira Gandhi. Thus when she went to jail there was a wave of sympathy in her favour. Congress senior leaders claim that Indira Gandhi was a mass leader which Rahul is not. Besides the Congress leaders are extremely concerned about the health of the 90 plus Motilal Vora and also ailing Sonia Gandhi

MAHARASHTRA PCC CHIEF GETTING CLOSE WITH STATE CHIEF MINISTER

Resentment is brewing within the Maharashtra Congress agains

Zuma protests: Indian family in the eye of storm

As South Africans endure their deepest economic crisis since 2009, it’s not just President Jacob Zuma they blame. There’s a family whose name is increasingly the target of protest: the Guptas. As tens of thousands marched in October in South Africa’s biggest wave of nationwide anti-government protests since the African National Congress came to power, one poster, broadcast on the nation’s television channels, captured the public anger: […]

NEW BILL TO EASE PROCESS OF COMMERCIAL LITIGATION

FOREIGN INVESTORS MAY GET SOME RELIEF

By G. Srinivasan

For the country’s corporate sector apprehensive of long pendency in courts and protracted litigation on commercial disputes for resolution, help is on hand at long last. The NDA government has set off a flurry of activities on this front to give a whiff of long-felt comfort to assuage investors’ enduring worries on this count. In the ongoing winter session of Parliament, the Law Commission of India’s report with its draft bill on Commercial Division and Commercial Appellate Division of High Courts and Commercial Courts Bill, 2015 was tabled. Subsequently, the House Panel on Personnel, Public Grievances , Law and Justice   under the  chairmanship of Mr. E.M. Sudarsana Natchiappan also submitted its report, which also took due note of the Ordinance promulgated  by the Government on October 23, 2015 making certain improve

King dollar trend is down, but not out

|By Matein Khalid| The plunge in crude oil after OPEC’s Vienna conclave, Dr. Draghi’s failure to resist Bundesbank pressure not to fire another ECB easy money bazooka, Wall Street’s junk bond debacle and an imminent rise in the Fed Funds rate for the first time since 2006 will all shape the next big trades in Planet Forex. The Euro has risen to 1.10 on Draghi’s failure to […]

Saudi billions entice Asian customers

At the heart of Korea’s Onsan Refinery lies a street called “A.I. Naimi Road,” an homage to Saudi Arabia’s oil minister. The reason: state-owned Saudi Arabian Oil Co. holds a 65 percent stake in the complex. Taking a controlling interest last year in South Korea’s third-largest refinery highlights the shifting dynamics of the oil business. With crude prices down by more than half in the past two […]

GIB opens new wholesale banking branch in Abu Dhabi

Gulf International Bank (GIB) has inaugurated its wholesale banking brand in Abu Dhabi. The opening of the new office supports the bank’s strategic objectives to grow and develop business across the GCC region, said a statement. Dr Yahya Alyahya, chief executive officer, said: “It gives us great pleasure to inaugurate a full commercial branch in Abu Dhabi. The dynamism and pace of progress of the UAE market […]

Alleged VTech Hacker Arrested in the U.K.

Alleged VTech Hacker Arrested in the U.K. Police in the United Kingdom believe they have caught the culprit behind a massive cyberattack against leading electronic toy maker VTech that compromised the information of nearly 5 million adults and over 6 million children. The South East Regional Organized Crime Unit, or SEROCU, in Bracknell, a town about 30 miles west of London, arrested a 21-year-old man yesterday for […]

Transworld Group, Japanese firm form joint venture

|By Arabian Post Staff| Dubai headquartered global conglomerate Transworld Group and Yokohama-based Suzue Corporation of Japan announced the formation of a joint venture for exploring business opportunities in logistics in the Indian Sub-continent, Middle East and Japan. A Memorandum of Understanding in this respect was signed by Ramesh S. Ramakrishnan, Chairman and Ritesh S. Ramakrishnan, Director – Strategy and Business Planning of Transworld Group, and Takahiro Suzue […]

Islamic Crowdfunding: Way to go

|By Umar Munshi| Islamic Crowdfunding has the potential to help us change our world for the better. When an online community unites and pools resources, this community has the financial and social clout and capability to create and re-create multiple aspects of the world and directly impact society. Crowdfunding itself started and blossomed in the West initially amongst groups of like-minded individuals wanting to create something. In […]

Twitter Warns Some Users of Possible Government Hacking

Coldhak, a Canadian non-profit, is among the Twitter users recently warned by the microblogging service that their accounts might be targeted for hacking by “state-sponsored actors.” Coldhak on Friday posted a tweet with the text of the warning from Twitter. The e-mail warning said hackers “possibly associated with a government” might be trying to gain information about Twitter users’ e-mail addresses, IP addresses and/or phone numbers. This […]

Memory Chipmaker Micron To Acquire Inotera for $3.2 Billion

Leading memory chipmaker Micron Technology Inc. is going all in on Inotera Memories, snapping up the remaining shares of the company it doesn’t already own. The sale price: about $3.2 billion. Micron already owned 33 percent of Inotera, which it acquired from Qimonda in 2008. Inotera, which provides DRAM foundary services based on 30nm process technology, produces about 120,000 wafer starts every month for Micron. “The acquisition […]

Trump unfazed by widespread criticism

Republican presidential contender Donald Trump said his call to ban Muslims from entering the U.S. sparked a useful discussion about radicalism within that community, and he’s not daunted by polls showing most Americans oppose the idea. “I didn’t do this for polls so I don’t even care what the polls say,” Trump said in an appearance Sunday on CNN’s “State of the Union With Jake Tapper.” “My polls […]

INDIA JAPAN ECONOMIC COOPERATION BEST FOR BOTH NATIONS

STRATEGICALLY TWO COUNTRIES NEED TO BE CLOSER

By Nantoo Banerjee

Trust is the key. Japanese Prime Shinzo Abe seems to have finally recognized that India could be fully trusted with technology transfer and large fund investments. It may have taken almost a quarter of a century since Osamo Suzuki chose India for small car production in equity collaboration with the government-owned Maruti Udyog for Japan to finally trust India to engage itself with the country for civil nuclear cooperation. But, Japan today is convinced that slow-and-steady-moving democratic India is probably the most trusted country for economic and technology cooperation outside the USA. The huge $12-billion Japanese long term soft credit commitment for a single project in India – the 550 km Mumbai-Ahmedabad bullet train service – along with proposal of technology transfer in defence production among 14 other ec

Alibaba agrees on $266 mln acquisition deal with South China Morning Post

People ride a double bicycle past a logo of The Alibaba Group at the company’s headquarters on the outskirts of Hangzhou, Zhejiang province November 10, 2014. Reuters/Aly Song/Files SHANGHAI Alibaba Group Holding Ltd has agreed on a HK$2.06 billion ($265.8 million) deal to acquire the South China Morning Post and other media assets of SCMP Group Ltd, the newspaper group said in a statement on Monday. Alibaba […]

Twitter warns some users of possible state-sponsored cyber attack

/Reuters/Eric Thayer/Files/ SAN FRANCISCO Twitter Inc issued an alert to some users warning them that state-sponsored hackers may have tried to obtain sensitive data from their accounts, the company said, the first such warning by the micro blogging site.   The notice said there was no indication the hackers obtained sensitive information from what it said were a “small group of accounts” targeted.   It did not […]

Apple Music wins exclusive video deal with Taylor Swift

Recording artist Taylor Swift arrives at the 2015 MTV Video Music Awards in Los Angeles, California, August 30, 2015. Reuters/Danny Moloshok/Files NEW YORK Apple Inc won a deal with pop star Taylor Swift to exclusively release a concert video of her recent world tour through its music streaming service, Apple Music, the company and singer said on Sunday. Swift, who celebrated her 26th birthday on Sunday, tweeted […]

Dubai enters a new phase of development

|By K Raveendran| With the new Public-Private Partnership law having come into being last month, Dubai is set to witness a new phase in its development, as private investments begin to flow into further development of the emirate’s infrastructure. This would mean the private sector directly getting involved in projects like airport expansion, extension of the Dubai Metro and similar infrastructure projects and sharing the risks in […]