The Cisco Systems logo is seen as part of a display at a technology conference in Chicago, Illinois, May 4, 2015. Reuters/Jim Young NEW YORK Cisco Systems Inc did not infringe a patent holding company’s wifi technology, a U.S. appeals court ruled on Monday, reversing a near $64-million judgment against the networking equipment maker in the long-running patent dispute. After eight years of litigation that also included […]
Vamien McKalin/Flying cars – it is something we view as more interesting than driverless cars. Who want cars driving us around when we can get in a car capable of flying us from one destination to the next? Terrafugia is working to make this a possibility in the coming years. Recently, the Federal Aviation Administration (FAA) approved Terrafugia’s plan to test its flying cars in U.S. airspace. […]
|By Matein Khalid| In retrospect, the last six years were a unique period in global central banking, an epic monetary experiment that averted a Great Depression after Lehman’s failure and interbank/credit contagion plunged the world into recession in 2008-9. Yet the Fed (and later Bank of Japan, ECB and even PBOC) quantitative easing also led to asset bubbles, credit market excesses, currency wars and the mispricing of […]
The Cisco Systems logo is seen as part of a display at the Microsoft Ignite technology conference in Chicago, Illinois, May 4, 2015. Reuters/Jim Young BOSTON Networking equipment maker Cisco Systems Inc said on Monday it has launched a product review to look for tampering after rival Juniper Networks Inc’s disclosure found code in firewall software that made it vulnerable to cyber attacks. Juniper warned customers on […]
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 […]
There is an old cliché that goes, “they don’t make them like they used to.” With the pronounced computerization of contemporary cars in mind, that adage certainly stands tall. More than 50 percent of vehicles sold this year connect to the Internet in one or more ways, and it is predicted by 2025, every car will be connected in multiple ways. That brings up the issue of car hacking. […]
The logo of car-sharing service app Uber on a smartphone over a reserved lane for taxis in a street is seen in this file photo illustration taken in Madrid on December 10, 2014. Reuters/Sergio Perez/Files SAN FRANCISCO The U.S. Department of Justice is pursuing a criminal investigation of a May 2014 data breach at ride service Uber [UBER.UL], including an examination of whether any employees at competitor […]
Crude slid to the lowest level in more than six years in New York as a rising number of oil rigs in the U.S. signaled the supply glut will be prolonged. Futures dropped as much as 1.9 percent after Baker Hughes Inc. reported that the number of active oil rigs in the U.S. climbed by 17 this week to 541. U.S. crude stockpiles surged to 490.7 million […]
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 […]
CHINESE SLOWDOWN HAS TO BE MONITORED
By Anjan Roy
At long last the US Federal Reserve – America’s central bank—has raised the interest rates, albeit hardly. This is the first hike in interest rates by the US central bank in over a decade.
The US Fed rate hike has been by a very small margin – from zero to just about 0.25% to 0.5%. It was so gradual and soft that the rate hike did not cause the disruptions in the global financial markets that everyone expected from such a decision.
The first question here is how will it affect India? It should not, and this has been borne out by what happened in the day after the Fed rate hike. The stock market remained more or less flat. The exchange rate also remained stable. The fund managers did not immediately think of taking money out of India and that left the financial markets unruffled.
But then w
IMMEDIATE DIALOGUE NEEDED TO RESTORE HARMONY
By Kalyani Shankar
Differences of opinion between the Centre and the states are quite common in a federal structure. This is more so if different political parties rule in the state and at the Centre. It is not uncommon that some Chief Ministers have even walked out of the National Development Council or Inter State Council protesting against the Centre’s treatment of their states. Chief Minister accusing the Centre of using the CBI as a weapon against him or her is also not new. In fact the CBI director Ranjit Sinha even described the agency as a ‘caged parrot.’ Whether this is true or not, the CBI is not an autonomous agency and the party in power has some control over it.
Therefore Delhi chief minister Arvind Kejriwal’s tantrums about the over-enthusiastic CBI raid in his office on Tuesday is not surprising. Althoug
|By Arabian Post Staff| Gold prices were trading higher in afternoon dealings and holding on to early gains in the aftermath of the first interest rate increase from the U.S. Federal Reserve since 2006. The gains were explained as a move by traders to get a jump on the possibility of Fed rate hike, on the firm belief that the gold market would exhibit a “sell the rumor, […]
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
WHERE’S YOUR COOPERATIVE FEDERALISM, MR MODI?
By Garga Chatterjee
Those of us who are not of Delhi and live far away from the inner chambers of power, some aspects of the new Union government’s initial pronouncements were indeed exciting. Firstly, in consonance with the tone set by its leader in the 2014 Lok Sabha election campaign, the Central government wanted to be an enabler and not a micro-manager in people’s lives and aspirations. Secondly, it talked about co-operative federalism, by which, real federalism would be ushered in, in a spirit of co-operation between the constituent states of the Indian Union. Right now, these feel like promises from a different planet.
It is true that the government of India increased the percentage of tax money that would be given by the Centre to the states. But that came with a serious catch. The Union governm
|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 […]
A man types on a computer keyboard in Warsaw in this February 28, 2013 illustration file picture. Reuters/Kacper Pempel/Files WASHINGTON More than a million victims of a massive hack of U.S. government computer files have still not been officially notified that their data was compromised and that they are eligible for free credit-monitoring protection, officials said on Friday. The government this week finished sending notifications through the […]
Growing concern over privacy has prompted the Federal Trade Commission to turn to academia for its new chief technologist. The commission announced this week that it has appointed Carnegie Mellon University professor Lorrie Cranor to assume that post effective in January. She will replace Ashkan Soltani, who has served as chief technologist since November 2014. Soltani was a privacy practitioner who worked with The Washington Post to […]
Gold prices rebounded off five-year lows on Monday as some investors rushed to grab a bargain while others closed out bets on weaker prices to lock in gains on the recent slide. The most actively traded gold-futures contract, for February delivery, was recently up $6.10, or 0.6%, at $1,062.20 a troy ounce on the Comex division of the New York Mercantile Exchange. Prices slid to $1,056.20 an […]
|By Arabian Post Staff| House prices in Dubai will bottom out towards the end of next year, real estate consultancy Cluttons said in its Dubai 2015/16 Winter Residential Property Market Outlook. House prices are expected to fall another 3-5 percent over the next 12 months. The report said values for both apartments (-0.8%) and villas (-0.5%) dipped marginally during the third quarter of this year, marking the […]
In the wake of the ISIS terror attacks in Paris, many technology companies are looking ahead and preparing for the worst. Disaster recovery is a new focus for some, while others have had their eye on the target for much longer. IBM, for example, announced a contest today that gives developers access to its cloud to encourage disaster response-related app development. Just days after Friday evening’s attacks […]
|By Arabian Post Staff| The United Arab Emirates may cut government spending as a result of the slump in oil prices, Central Bank Governor Mubarak Rashed Al Mansoori indicated. The decline in the government’s oil revenue “may trigger further fiscal consolidation, albeit at a gradual pace, to preserve priority spending in support of non-oil growth,” Al Mansoori said at a conference in Dubai on Monday. Oil accounted […]
The European Court of Justice had declared the Safe Harbor provision that allowed transfer of personally identifiable data (PII) between Europe and the USA as invalid. This left a huge public policy question hanging: Is it legal for companies doing business on the web to store the PII data of European citizens on servers based in the USA? Does this ECJ decision open the door to companies getting […]
|By Matein Khalid| Saudi Arabia has fascinated me since I first met Hani AZ Yamani as a teenage student all those years ago at Wharton. Hani’s father was Sheikh Ahmed Zaki Yamani, legendary Saudi Oil Minister (1962-86) under Kings Faisal, Khalid and Fahd. Sheikh Yamani managed the 1973 and 1979 oil shocks, survived a terrorist assault in Vienna by Carlos the Jackal, midwifed the birth of Saudi […]
|By TAP Staff| Etihad Airways won a great PR opportunity when a German court allowed it temporary injunction to continue operating all its codeshare flights with airberlin to destinations in Europe, the US and the UAE. The injunction granted by the Administrative Court of Braunschweig is valid until 8 November. It provides an opportunity for the parties to resolve outstanding differences through ongoing consultation between the Governments […]
