Former Federal Reserve Chairman Alan Greenspan suggested that oil prices have probably bottomed out at about $40 per barrel after tumbling more than 20 percent in the past two months into a bear market. “It’s hard for me to imagine it going very much lower, but it could,” he said Wednesday, according to the transcript of a conference call organized by Rock Creek Group, an investment advisory […]
UAE. Project activity in the UAE is forecast to recover in 2017 after a difficult 2016 on the back of a strong recovery in economic growth, according to a new report from Middle East business intelligence service MEED. MEED’s annual UAE Outlook Report for 2016 says that a recovery in oil prices combined with growing public and private sector activity boosted by Dubai’s preparations for the Expo […]
ABU DHABI // Expatriates will have to pay their traffic fines before they can leave the country for business or holidays, under a plan being considered. The idea has been put forward by the Federal Traffic Council and, if approved, expats will be told to pay their fines at airports and land borders or miss their trip. Road-safety experts say the move could make motorists think twice […]
A general view shows the headquarters of the Federal Security Service (FSB) (L) in central Moscow, Russia, November 10, 2015. Reuters/Sergei Karpukhin MOSCOW Russia’s intelligence service said on Saturday that the computer networks of 20 organizations, including state agencies and defense companies, have been infected with spyware in what it described as a targeted and coordinated attack. The Federal Security Service, the FSB, said the malware and […]
|Mary-Ann Russon|IBNTimes|The President of the United Arab Emirates (UAE) has issued a series of new federal laws relating to IT crimes, including a regulation that forbids anyone in the UAE from making use of virtual private networks (VPN) to secure their web traffic from prying eyes. The new law states that anyone who uses a VPN or proxy server can be imprisoned and fined between Dh500,000-Dh2,000,000 ($136,000-$545,000, […]
For the past few years, scientists around the world have been studying ways to use miniature robots to better treat a variety of diseases. The robots are designed to enter the human body, where they can deliver drugs at specific locations or perform precise operations like clearing clogged-up arteries. By replacing invasive, often complicated surgery, they could optimize medicine. EPFL scientist Selman Sakar teamed up with Hen-Wei […]
A federal judge sentenced a man to six months in federal prison Thursday for hacking into hundreds of Apple and Google accounts and stealing scores of personal photos, including some belonging to celebrities. U.S. District Judge John A. Kronstadt also issued a $3,000 fine to Andrew Helton, who pleaded guilty to a federal hacking charge in February, according to the U.S. attorney’s office in Los Angeles. Helton, […]
Commuters pass by the front of the Bangladesh central bank building in Dhaka March 8, 2016. Reuters/Ashikur Rahman/Files DHAKA/NEW YORK When the Federal Reserve Bank of New York cleared five transactions made by the Bangladesh Bank hackers, the money went in two directions. On Thursday, February 4, the Fed’s system sent $20 million to Sri Lanka and $81 million to the Philippines. The Sri Lankan transaction contained […]
DHAKA/NEW YORK Jupiter. That single word, by a stroke of luck, helped stop the Federal Reserve Bank of New York from paying nearly $1 billion (£757 million) to the cyber-criminals behind a notorious bank heist earlier this year, according to sources familiar with the incident. When hackers broke into the computers of Bangladesh’s central bank in February and sent fake payment orders, the Fed was tricked into […]
A Tesla logo hangs on a building outside of a Tesla dealership in New York, U.S., April 29, 2016. Reuters/Lucas Jackson/File Photo Tesla Motors Inc Chief Executive Elon Musk Wednesday unveiled an ambitious plan to expand the company into electric trucks and buses, car sharing and solar energy systems. In a blog post titled “Master Plan, Part Deux,” Musk sketched a vision of an integrated carbon-free energy […]
U.S. President Barack Obama speaks about the Bastille Day truck attack in Nice at the Diplomatic Corps Reception at the White House in Washington, U.S., July 15, 2016. Reuters/Yuri Gripas WASHINGTON The Obama administration on Friday released a legislative proposal intended to provide foreign governments with a streamlined process for asking U.S. tech companies to share email data and conduct wiretaps for criminal investigations. The framework comes […]
Efforts to upgrade U.S. communications infrastructure to 5G technology got a big boost from the federal government today. The Obama Administration just announced the launch of a $400 million Advanced Wireless Research Initiative, led by the National Science Foundation (NSF), designed to accelerate the deployment of next-generation wireless technology. The program will invest in efforts by researchers experimenting with and testing novel technologies, applications and services capable […]
During its Shape Tech Expo in San Francisco this weekend, AT&T plans to demonstrate how it is using drones to inspect its cell towers from the air. The company is also looking at other future applications that could include using unmanned aerial vehicles (UAVs) to provide improved LTE coverage during crowded events or disasters. AT&T has been testing various uses for drones over the past year, and […]
Negotiators had been talking for hours with the hunkered-down killer of five police officers in downtown Dallas when the man suddenly resumed firing with an assault rifle. Fearing additional casualties, the officers deployed a small, remote-controlled robot to carry an explosive device near shooter Micah Xavier Johnson, 25, which they then detonated, killing him. “We saw no other option but to use our bomb robot and place […]
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| 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 […]
Commuters pass by the front of the Bangladesh central bank building in Dhaka March 8, 2016. Reuters/Ashikur Rahman/File Photo DHAKA Bangladesh’s central bank has ended a contract with U.S. cyber security firm FireEye to investigate February’s online theft of $81 million, turning down a proposal to extend the agreement, a senior official said on Monday. More than four months after hackers broke into the computer systems of […]
Rare Quran manuscripts, paintings and number plates auctioned to raise funds for Reading Nation campaign A priceless collection of historic manuscripts and artifacts is being auctioned at Madinat Jumeirah, Dubai to raise funds for the ongoing Reading Nation Ramadan campaign. Here’s our coverage of the event as it happened. (Inputs from Mary Achkhanian, Staff reporter) Campaign collects Dh40 million The charity auction held for Reading Nation campaign launched by […]
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 […]
|By Matein Khalid|Dr. Mervyn King broke with tradition by publishing his book “The End of Alchemy: money, banking and the future of the global economy”. After all, retired governors of the Bank of England do not, as a rule, do not write/publish books, let alone write books that lambast the City of London’s culture of greed and hubris. It is no coincidence that Dr. King quotes T.S. […]
ABU DHABI // The Cabinet approved a national programme for tolerance on Wednesday as the country marks the holy month. Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, made the announcement while pledging that the country would continue to promote the principles of tolerance set by Sheikh Zayed, the Founding Father. “Tolerance is a key value of our ancestors and our Founding Fathers,” said Sheikh […]
Ali was the most thrilling if not the best heavyweight ever, but he was more than the sum of his athletic gifts Ali faces the media at the US federal court in June 1967, while on trial for refusing to be inducted into the armed forces. New York: Muhammad Ali, the three-time world heavyweight boxing champion who helped define his turbulent times as the most charismatic […]
DUBAI // Creating a safe place for children is the cornerstone of the UAE’s new Child Protection Law, so educators and a paediatrician have asked for a clear chain of command to enable an immediate response to cases flagged by schools and hospitals. Informally referred to as Wadeema’s Law, in memory of an eight-year-old Emirati girl tortured to death by her father, it will take effect on […]
INTERNATIONAL. –(BUSINESS WIRE)–Shifting power relationships in the Middle East are reordering regional geopolitics, entrenching a stalemate of conflict that threatens to further destabilize the region. Wars in Syria and Yemen and against the Islamic State, combined with the balancing of supply and demand in oil markets later this year, will likely return a risk premium to oil prices in 2017, says a new special report by IHS […]
