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 […]
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 […]
The US dollar is weakening this morning after comments from president-elect Donald Trump that the greenback was “too strong” against the Chinese currency. “Our companies can’t compete with them [Chinese companies] now because our currency is too strong. And it’s killing us”, Mr Trump told the Wall Street Journal. His comments have helped soften the dollar index, which measures the greenback against a basket of its major […]
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 […]
The personal data of customers at a Victorian hunting authority has inadvertently been emailed out to strangers renewing their hunting licences. Victorian Game Management Authority customer data was sent to eight people renewing their game licences, with the state Department of Environment Land Water and Planning blaming “human error” for the lapse. The eight customers who received the emails have been contacted, and the department is confident […]
Tuesday 02.00 GMT Overview Stocks were putting in a mixed performance in Asia, while currencies fluctuated as markets braced for the impact of a speech by UK Prime Minister Theresa May laying out her administration’s Brexit blueprint. Hot topic The Japanese yen rallied as some traders initially sought havens, strengthening as much as 0.3 per cent before swinging back to be 0.1 per cent weaker at ¥114.26 […]
A year after embarking on a mission to develop autonomous flying cars, Airbus is set to test its autonomous airborne taxi prototype for one passenger by the end of 2017. The company envisions a world where, at the push of a button, vehicles can fly over traffic jams. Also, people would be able to book autonomous flying taxis using a mobile app. “One hundred years ago, urban […]
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 […]
Photo From left, Sami Mushaima, Ali al-Singace and Abbas al-Samea, who were convicted in a deadly police bombing and executed on Sunday morning in Bahrain. Credit Bahrain Center for Human Rights, via Associated Press BEIRUT, Lebanon — Bahrain executed by firing squad on Sunday three Shiite men convicted of killing three police officers in a bombing in 2014. The executions were condemned by human rights groups, which […]
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. […]
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. […]
49 Lib, a relatively bright star in the southern sky, is twelve billion years old rather than just 2.3 billion. For many decades, researchers were stumped by conflicting data pertaining to this celestial body, because they had estimated it as much younger than it really is. Determining its age anew, astronomers have now successfully resolved all inconsistencies. (via WSJ)
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 […]
TEHRAN — Perplexed residents here focused their eyes — and smartphones — upward on Monday afternoon as antiaircraft weapons hidden on rooftops suddenly began blasting away at “an unidentified flying object” in the clear sky. The thunderous clack-clack of gunfire and small dots of white smoke overhead provided a loud and unexpected accompaniment to the start of city’s evening rush, as videos show. Anti-aircraft fire on the […]
“Dedication, that’s what you need, if you want to be a record breaker,” sang the TV entertainer Roy Castle on the long-running BBC programme dedicated to notable feats. London’s FTSE 100 has been on a dedicated record-breaking run all of its own, notching up an unprecedented 14 consecutive sessions of gains by the end of last week, a run which only ended on Monday, when the index […]
India’s Army has told its soldiers to stop complaining on social media websites, after some troops last week appeared in videos online saying they had insufficient food and poor facilities. “You can also be punished for your actions,” Army Chief Gen. Bipin Rawat told soldiers in a speech at Sunday’s Army Day celebrations in New Delhi. A man who said he was Tej Bahadur Yadav, a member […]
(UPDATED) Forced evacuation has been ordered in several flood- and landslide-prone barangays. Some parts of the city are in neck-deep water. Bobby Lagsa Published 2:15 AM, January 17, 2017 Updated 2:37 AM, January 17, 2017 STRANDED. Vehicles and commuters have been stranded in Cagayan de Oro since Monday night, January 16, after nonstop rains triggered flash floods across the city. Photo by Bobby Lagsa/Rappler CAGAYAN DE ORO, […]
OPEC probably won’t need to extend a deal it reached with other crude producers to cut output, given compliance with the reductions and the outlook for an increase in global demand, Saudi Energy Minister Khalid Al-Falih said. The re-balancing of the oil market should take place by the end of the first half of the year, Al-Falih told reporters during an energy event in the United Arab […]
Exploding lithium-ion batteries have sunk Samsung’s flagship Galaxy Note 7 and damaged the company’s bottom line. Image: CNET Samsung’s internal investigation has found the battery, and not software or hardware, caused the Note 7 smartphone to catch fire and explode, according to a new report from Reuters. The South Korean company will officially reveal its findings on January 23. Shortly after the global recall and pulling the […]
Canceling nearly 90% of cash in circulation cost India the mantle of world’s fastest-growing large economy in 2016, the International Monetary Fund said, though it categorized the slowdown as temporary. India’s growth slowed to 6.6% last year from 7.6% in 2015, according to the fund’s latest World Economic Outlook, which estimates that China’s economy grew by 6.7% in 2016. The fund expects India’s expansion to bounce back […]
ABU DHABI // The country is working on a system to monitor and record its greenhouse gas emissions, says the new director general of the Global Green Growth Institute. Frank Rijsberman, who was on a two-day visit to the UAE for the World Future Energy Summit, said that although there was room for improvement, the UAE had become a leader in the renewable energy sector. “We’ve been […]
Sunday, then, was the good fortune they felt was overdue. Even after the Cowboys — led by their poised rookie quarterback Dak Prescott — tied the score, 28-28, in the fourth quarter. Even after they tied it again, 31-31, the Packers weren’t rattled. Photo Packers tight end Jared Cook kept his feet in bounds to make a key reception at the end of the game. Credit Smiley […]
