ABU DHABI // Mass extinction of species, how to boost economic growth without harming the planet and the effects of mass agriculture are all issues to be addressed at the Cop 22 summit. The meeting in Morocco, which began this week, follows last year’s Paris Agreement, where 196 countries committed to reducing global warming to less than 2°C. One of the major discussion points is that the […]
RIYADH // A UAE delegation arrived in the Saudi capital on Thursday for a GCC economic meeting. Sheikh Mansour bin Zayed, Deputy Prime Minister and Minister of Presidential Affairs, headed the delegation that attended the first meeting of the GCC Economic and Development Affairs Authority in Riyadh. Saudi Deputy Crown Prince Mohammed bin Salman bin Abdulaziz, Second Deputy Premier and Minister of Defence, presided over the meeting. […]
ABU DHABI // Sheikh Mohammed bin Zayed met the Egyptian president in Cairo on Thursday to take stock of regional and global issues. The Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces and Abdel Fattah El Sisi discussed regional challenges, especially interference from foreign parties, the crises in Arab countries and risks to the region posed by terrorist organisations. They also considered […]
UAE. In the GCC, healthcare, industrials & materials and financial services have recorded the largest fluctuations in mergers and acquisitions (M&A) activity, despite the gradual decline witnessed by the industry since 2014. According to research published today in The Boston Consulting Group’s (BCG) 2016 M&A Report, Masters of the Corporate Portfolio, companies that regularly acquire and divest businesses as part of their corporate strategy consistently outperform less […]
UAE. Middle East businesses embracing digital transformations in order to gain business advantage and drive innovation are being warned to place digital trust and cyber security at the heart of such change. The advice has been issued by two new senior experts in IT, digital transformation and cyber security appointed by PA Consulting Group Middle East and North Africa as part of an aggressive recruitment phase to […]
By Makiko Yamazaki | TOKYO TOKYO Japanese conglomerate Toshiba Corp swung to an operating profit in the July-September quarter, driven by strong demand for NAND flash memory chips from Chinese smartphone makers. That boom in demand has been a blessing for Toshiba, which is seeking to recover from a $1.3 billion accounting scandal by turning itself into a company more focused on chips, nuclear energy and social […]
|By Arabian Post Staff|Bank of America-Merrill Lynch has made moderate downward adjustments to its near-term growth forecasts in the light of the election of Trump as the next US President. “Given the high level of uncertainty about the exact policy changes at this stage, we are assuming that trade tensions and fiscal stimulus have offsetting impacts on growth in the medium term,” it said. While a wide […]
By Jonathan Stempel A federal judge on Thursday directed Amazon.com Inc to set up a year-long process to reimburse parents whose children made in-app purchases without permission, but rejected a U.S. regulator’s request for a $26.5 million lump-sum payout. U.S. District Judge John Coughenour, in Amazon’s hometown of Seattle, issued his order more than six months after finding the online retailer liable, in a case brought by […]
Business-focused social network LinkedIn faces being blocked in Russia after a court ruled it broke a law on data storage. The Moscow city court rejected LinkedIn’s appeal against a ruling that it had broken a law that requires personal data on Russian citizens to be stored on servers within Russia, court spokeswoman Ulyana Solopova told The Associated Press. Solopova says LinkedIn can appeal Thursday’s ruling. The case […]
|By Arabian Post Staff|Donald Trump’s election as American President is expected to further complicate OPEC’s efforts to strike a deal for output freeze. OPEC was already struggling to finalize a deal and with Trump, it has become all the more difficult. In fact, Trump’s surprise victory threatens to deepen a market sell-off, according to UBS Group AG. Yet the uncertainty arising from the President-Elect’s policies — from […]
Emirates Group first-half profit plunged 64 percent as the world’s biggest airline by international traffic struggled with a rising U.S. dollar and political and economic uncertainty that damped global travel and weighed on fares. Net income fell to 1.3 billion dirhams ($364 million) in the six months through September from 3.7 billion dirhams a year earlier, the Dubai-based carrier said Wednesday in a statement. Revenue rose 1 […]
|By Arabian Post Staff| It might be possible in the not too distant future to travel between Dubai and Abu Dhabi in 12 minutes if plans announced today materialise without any major hitch. Hyperloop One, which is reinventing transportation by developing the world’s first Hyperloop, an integrated structure to move passengers and cargo between two points immediately, safely, efficiently, and the Dubai Roads and Transport Authority (RTA) agreed […]
|By Arabian Post Staff| The Ministry of Finance (MoF) announced the UAE’s membership to the Global Forum on Transparency and Exchange of Information, following the UAE Cabinet’s decision in 2010 on MoF’s implementation of the G20 resolutions for the exchange of information for tax purposes. The Ministry will be responsible for coordinating with government bodies to collect financial information of international companies operating in the country. The UAE Cabinet had […]
Wearable camera maker GoPro Inc said on Tuesday it would recall about 2,500 of its recently introduced Karma drones because they lost power during use. GoPro’s shares were down 4.7 percent at $10.35 in extended trading. The recall comes less than a week after GoPro downgraded holiday forecasts to $600 million to $650 million in revenue for the fourth quarter, below analysts average estimate of $666.14 million […]
DUBLIN Ireland’s government will this week formally submit its appeal against the European Commission’s multi-billion-euro demand for back taxes from Apple (AAPL.O), Finance Minister Michael Noonan said on Tuesday. Ireland’s cabinet agreed in September to join the iPhone maker in appealing the Commission’s order that the U.S. tech giant pay up to 13 billion euros to Dublin after ruling the firm had received illegal state aid. [nL8N1BE1ZT] […]
By Abhirup Roy | MUMBAI MUMBAI Ford Motor Co is investing 13 billion rupees ($195 million) over the next five years in a technology and business centre in the Indian city of Chennai to develop new products, design mobility solutions and provide business services. Dearborn, Michigan-based Ford, which has already invested over $2 billion in India till date, will hire 3,000 people and bring in 9,000 from […]
UAE. Low natural gas and electricity prices have created a tough competitive environment for renewable energy, but this has remarkably had little impact on the momentum of alternative energy growth, finds a new Deloitte report entitled, “Alternative Thinking 2016: Five game-changers that are powering the future of renewable energy.” The report identifies the important trends and opportunities in the renewable energy industry. It also presents “what if” […]
INTERNATIONAL. Nine out of 10 banking professionals surveyed at large U.S., European and Canadian commercial banks said their company is currently exploring the use of blockchain technology for payments, according to a new report from Accenture (NYSE: ACN). The initiatives are designed to reduce costs, speed payments, reduce errors and drive new revenues. The report – Blockchain Technology: How banks are building a real-time global payment network – […]
The reality today is that most enterprise applications are well on their way to being cloud based. We’ve seen it with simple workloads such as HR and payroll, travel and expense management, and in the last decade we’ve seen the cloud as the new normal for customer relationship management (CRM) deployments. In fact, a recent Gartner report predicts that the public cloud services market in the Mena […]
Facebook Inc said on Monday, it was testing a feature that would let page administrators create job postings and receive applications from candidates, a move that could pressure LinkedIn Corp’s recruiting business. “Based on behaviour we’ve seen on Facebook, where many small businesses post about their job openings on their Page, we’re running a test for Page admins to create job postings and receive applications from candidates,” […]
Gulfnews.com Republican candidate launches marathon final day of campaigning in attempt to win crucial votes U.S. Republican presidential nominee Donald Trump gestures as he speaks at a campaign rally in Raleigh, North Carolina. Raleigh, United States: Donald Trump launched a final marathon Monday as the wildest US presidential campaign in memory drew to a close, desperate to persuade Americans they would be better served by a political […]
By Julia Fioretti | BRUSSELS BRUSSELS Britain’s privacy watchdog said on Monday that Facebook (FB.O) has agreed to suspend using data from UK users of its WhatsApp messaging app for advertisements or product-improvement purposes after the watchdog said consumers weren’t properly protected. The watchdog said the social media giant faces action if it uses such data without valid consent. The Information Commissioner’s Office (ICO) had said in […]
ABU DHABI // Sheikh Mohammed bin Zayed welcomed Prince Charles and Camilla in Al Ain to celebrate a year-long collaboration between the UAE and the UK in the arts. The UK-UAE Year of Cultural Collaboration was launched at Al Jahili Fort under the patronage of Sheikh Mohammed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, and the Prince of Wales. The evening […]
By Marcin Goettig | WARSAW WARSAW Poland’s digital economy minister accused Facebook FN.O of censorship on Monday after the company suspended some users’ profiles for using a little-known far-right symbol. The Falanga symbol, depicting a stylised hand holding a sword, was used by a banned radical nationalist group in the 1930s but is legal in Poland and other countries. It now serves as the logo of a […]
