ABU DHABI // They may sound like the stuff of science fiction, but driverless cars could be key to reducing the number of accidents in the UAE, experts say. More than 90 per cent of accidents involve driver error and machines have been proven to drive more reliably than humans, said Lee Woodcock, global product director for intelligent mobility at the engineering consultancy Atkins. “The potential is […]
INTERNATIONAL. Even before the failed military coup, Turkey’s President Erdogan governed like a dictator who had the last word on all state matters. The botched coup was nothing but, as he put it, “a gift from God” to purge what is left of Turkey’s democracy and cleanse the army and judiciary in order to ensure the total subordination of all institutions to his whims. For Erdogan, being […]
INTERNATIONAL. Following the vote to leave the EU, the UK economy is expected to face challenges in the short term, with high levels of uncertainty leading to a slowdown in business investment and lower GDP growth. UK: In light of this, PwC has revised down its main scenario real GDP growth projection for the UK to 1.6% and 0.6% per annum in 2016 and 2017 respectively, down […]
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 […]
People play the mobile phone game Pokemon GO in a park in Central Jakarta, Indonesia July 21, 2016. Reuters/Iqro Rinaldi JAKARTA Avid players of smash-hit mobile phone game Pokemon GO in Indonesia, home to the world’s largest Muslim population, are not letting religious decrees or security warnings get in the way of their mission to catch their next cartoon creature. Nintendo’s augmented reality app, in which players […]
|By Arabian Post Staff|Iran is exploring a return to international debt markets for the first time since 2002, a senior government official said, as the Islamic Republic seeks to finance an economic recovery a year after a historic nuclear deal that offered it a route out of isolation, Bloomberg reported. It quoted Economy Minister Ali Tayebnia, whose ministry is at the forefront of securing Iran’s access to […]
Data centers are notorious for how much energy they require. Now, however, Google thinks it has found a way to mitigate that problem. Over the last few months, the tech giant has been using an artificial intelligence (AI) system built by DeepMind to control certain parts of its data centers to make its vast server farms more environmentally friendly. DeepMind is the British AI company that Google […]
|By Arabian Post Staff|Saudi Arabia will build a maritime complex on its east coast, with shipbuilding capability, to provide sufficient capacity for exporting oil, Bloomberg reported quoting Energy Minister Khalid Al-Falih. The country, the world’s largest oil-producing nation, eventually will have a shipping fleet that will match its oil capabilities, Al-Falih said in Riyadh. Saudi Arabian Oil Co., or Aramco, will need more tankers to meet global […]
A self-driving car by Google is displayed at the Viva Technology event in Paris, France, June 30, 2016. Reuters/Benoit Tessier BERLIN Germany plans new legislation to require manufacturers of cars equipped with an autopilot function to install a black box to help determine responsibility in the event of an accident, transport ministry sources told Reuters on Monday. The fatal crash of a Tesla Motors Inc Model S […]
|By Matein Khalid|Brexit will have a profound impact on international banking. It was no coincidence that the shares of UK, German, Swiss, Italian, Spanish and other banks fell 20-25% in a single trading session on news of Brexit. Even American money center banks and investment banks with a large footprint in the City of London fell 8 – 10% on Friday, June 24, 2016. As Deutsche Bank […]
INTERNATIONAL. Stock markets received a welcome boost during trading on Thursday following the Bank of England’s decision not to change interest rates which eased the ongoing Brexit fears, consequently lifting risk sentiment. Asian markets were elevated in the early sessions of Thursday after China’s better than expected GDP results alleviated concerns over slowing economic growth in the world’s second largest economy. Although European markets initially tumbled after […]
UAE. Implementing change strategies to reinvent the value proposition of the Islamic financial services industry is high on the agenda of industry leaders, according to Deloitte’s new whitepaper entitled “The catalysts for change: Strategic priorities in governance and regulation in Islamic Finance practice.” This necessity is fueled by recent global economic downturn coupled with geopolitical risks that have put more pressure on industry strategists and policymakers. The […]
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 […]
A new hypothesis on the extinction of dinosaurs and ammonites at the end of the Cretaceous Period has been proposed by a research team from Tohoku University and the Japan Meteorological Agency’s Meteorological Research Institute. The researchers believe that massive amounts of stratospheric soot ejected from rocks following the famous Chicxulub asteroid impact, caused global cooling, drought and limited cessation of photosynthesis in oceans. This, they say, […]
The United Nations headquarters building is pictured though a window with the UN logo in the foreground in the Manhattan borough of New York August 15, 2014. Reuters/Carlo Allegri/Files ROME (Thomson Reuters Foundation) – From a smartphone app delivering market prices to Guatemalan farmers to online nutrition tips in rural Colombia, the push to end hunger has entered a new era with the U.N. food agency deploying […]
The logo of free messaging app Line is pictured on a smartphone and the company’s stuffed toy in this photo illustration taken in Tokyo, Japan, September 23, 2014. Reuters/Toru Hanai/Illustration/File Photo TOKYO Japanese messaging app firm Line Corp priced its initial public offering at the top of its marketed range, putting it on track to raise as much as $1.3 billion and reflecting robust appetite for the […]
It is said that good things come to those who wait. If so, then the European Union’s (EU) new Global Strategy on Foreign and Security Policy, more than a decade overdue, must be a very good thing. Actually, it is exactly what Europe needs. But the timing of its release — in the immediate aftermath of the United Kingdom’s (UK) vote to leave the EU — could […]
KEFLAVIK, Iceland Marco Streng is a miner, though he does not carry a pick around his base in south-western Iceland. Instead, he keeps tens of thousands of computers running 24 hours a day in fierce competition with others across the globe to earn bitcoins. In the world of the web-based digital currency, it is not central banks that add new money to the system, but rather computers […]
The logo of Facebook is seen at the Cannes Lions Festival in Cannes, France, June 23, 2016. Reuters/Eric Gaillard Facebook Inc on Friday said it began testing end-to-end encryption on its popular Messenger application to prevent snooping on digital conversations. The limited testing on Messenger, which has more than 900 million users, comes three months after Facebook rolled out end-to-end encryption to its more popular WhatsApp, a […]
A Nintendo video game logo is seen at the Electronic Entertainment Expo, or E3, in Los Angeles, California, United States, June 17, 2015. Reuters/Lucy Nicholson TOKYO Shares in Japan’s Nintendo Co surged on Friday as consumers flocked to try out its new Pokemon GO smartphone game, raising hopes that the company’s long-awaited shift into mobile gaming will pay off. Seeking to protect its console business, the Japanese […]
Acura released details on the exotic NSX GT3 before it campaigns North America next year. The NSX GT3 is slated for homologation as an FIA GT3 class racer this fall, upon completing a round of development circuits in the United States. The twin-turbocharged beauty was undergoing testing recently at GingerMan Raceway in South Haven, Michigan. “Building on the very solid foundation of the production NSX, we’re making steady […]
Scientists have specified how many deaths can be attributed to human-made climate change during an extreme heatwave in two European cities in 2003. They calculate that in Paris, the hottest city in Europe during the heatwave in summer 2003, 506 out of 735 summer deaths recorded in the French capital were due to a heatwave made worse by human-made climate change. The impact of climate change was […]
|By Matein Khalid| The merger of Abu Dhabi banks First Gulf Bank and NBAD creates the largest bank in the Middle East, a regional colossus with $170 billion in assets, competitive funding cost in the global interbank/capital markets and a market value greater than Credit Suisse, Standard Chartered Bank (SCB) and Deutsche Bank. This is the biggest game changer event in UAE banking and finance since the […]
Despite some setbacks with an earlier program aimed at getting more people online, Facebook is pushing ahead with a new effort to provide wireless Internet access to remote parts of the world: the OpenCellular wireless access platform. Designed to support a variety of connection options from 2G to LTE, the OpenCellular system will be open sourced so telecom operators and other organizations can more easily build locally […]
