Emirates airline said its alliance with Australia’s Qantas was working and had helped the Gulf carrier to improve yields, after some analysts questioned the benefits of the partnership. Qantas is reducing its workforce by 15 percent, slashing spending and selling gas-guzzling older planes after stiff competition at home and overseas pushed the Australian flag carrier deep into the red in the first half. The loss in Qantas’s […]
A diplomatic split between Qatar and its wealthy Gulf neighbors may disrupt billions of dollars of investment in the region and slow efforts to make economies more efficient through trade and transport reforms. Qatar’s vast natural gas wealth means the tiny country, with a population of about 2.1 million, could probably continue operating indefinitely despite the displeasure of Saudi Arabia, the United Arab Emirates and Bahrain. But […]
The ranks of the world’s billionaires continue to scale new heights–and stretch to new corners of the world. Forbes’ global wealth team found 1,645 billionaires with an aggregate net worth of $6.4 trillion, up from $5.4 trillion a year ago. A record 268 new ten-figure fortunes, including 42 new women billionaires, were unearthed, another record. In total, there are 172 women on the list, more than ever […]
Manhattan Attorney Preet Bharara has sent subpoenas to Mt. Gox, other bitcoin exchanges, and businesses that deal in bitcoin to seek information on how they handled recent cyber attacks, a source familiar with the probe said on Wednesday. In the attacks – known as distributed denial of service attacks – hackers overwhelmed bitcoin exchanges by sending thousands of phantom transactions. At least three exchanges were forced to […]
|TAP Special|If you are lucky, maybe you can buy your stolen credit card details from the black market yourself. If you are not, chances are that the information will land up with someone else, who will surely want to use it to make money off you. A cybersecurity firm said on Tuesday that it uncovered stolen credentials from some 360 million accounts that are available for sale […]
In an age of aerial drones and driver-less cars, Rolls-Royce Holdings Plc is designing unmanned cargo ships. Rolls-Royce’s Blue Ocean development team has set up a virtual-reality prototype at its office in Alesund, Norway, that simulates 360-degree views from a vessel’s bridge. Eventually, the London-based manufacturer of engines and turbines says, captains on dry land will use similar control centers to command hundreds of crewless ships. Drone […]
Mt. Gox, once the world’s biggest bitcoin exchange, abruptly stopped trading on Tuesday and its chief executive said the business was at “a turning point” but gave no details. Several other digital currency exchanges, including Bitstamp and BTC-E, issued statements attempting to reassure investors of both bitcoin’s viability and their own security protocols. The website of Mt. Gox suddenly went dark on Tuesday with no explanation, and […]
BlackBerry Ltd plans to launch a new tool for business and government customers to manage mobile devices on their networks, part of a drive by the one-time smartphone pioneer to focus on its profitable enterprise or services business. The company said on Tuesday it would launch BlackBerry Enterprise Service 12, or BES12, to unify its existing platforms and provide clients with increased flexibility and security. Following a […]
Concerns from Indian carriers on the quantum of increase in bilateral seat entitlements requested by Dubai may result in the emirate getting only half of its initial request of enhancing weekly entitlements by 20,000 seats. the Economic Times reported. A top official of the civil aviation ministry told ET that officials of various ministries met as part of an Inter Ministerial Group on Monday where a “couple” […]
Facebook Inc will buy fast-growing mobile-messaging startup WhatsApp for $19 billion in cash and stock in a landmark deal that places the world’s largest social network closer to the heart of mobile communications and may bring younger users into the fold. The transaction involves $4 billion in cash, $12 billion in stock and $3 billion in restricted stock that vests over several years. The WhatsApp deal is […]
Robocoin said on Tuesday that later this month it will install the first automated teller machines in the United States that let users buy and sell bitcoin, the latest step into the mainstream for the digital currency. The kiosks, to be installed in Seattle, and Austin, Texas, are similar to ATMs but have scanners to read government-issued identification such as a driver’s license or a passport to […]
Du, the United Arab Emirates’ second biggest telecoms operator, expects further growth in the business due to a buoyant local economy, its chief executive said after reporting a rise in revenue and a better than expected fourth-quarter profit on Tuesday. Du expanded rapidly after ending Etisalat’s domestic monopoly in 2007 to claim 46.4 percent of mobile subscribers as of Sept. 30, the most recently available data. However, […]
A Saudi English-language daily has become the country’s first newspaper with a female editor-in-chief after the Saudi Gazette this week appointed Somayya Jabarti to succeed veteran journalist Khaled Almaeena for the top post. “I was pleasantly surprised,” she told the Wall Street Journal over the phone, “because I did not think we as a country were ready for a female editor. But I believe this is a […]
German Chancellor Angela Merkel said on Saturday she would talk to French President Francois Hollande about building up a European communication network to avoid emails and other data passing through the United States. Merkel, speaking on Saturday ahead of a visit to France, has been pushing for greater data protection in Europe following reports last year about mass surveillance in Germany and elsewhere by the U.S. National […]
A U.S. border checkpoint located a day’s flight from New York in the Arabian desert promises to become an oasis for weary travelers heading for the States. U.S. Customs and Border Protection opened an Abu Dhabi base on Jan. 24, the first in the Middle East and the second outside the Americas after Ireland. Another post is planned in Dubai within a year as part of a […]
Emirates and Jetstar have announced an agreement which is set to open up new destinations for Emirates passengers across Australia, New Zealand and South East Asia as the Dubai-based airline continues to connect people, places and passions. Emirates’ code will now be placed on a number of routes operated by Jetstar Airways in Australia and New Zealand and Jetstar Asia, giving passengers access to 27 new routes […]
Comcast Corp is buying Time Warner Cable Inc for $45.2 billion in an all-stock deal, combining the nation’s two largest cable operators, according to people familiar with the matter. The friendly takeover comes as a surprise after months of public pursuit of Time Warner Cable by smaller rival Charter Communications Inc, and immediately raised questions as to whether it would pass regulatory scrutiny. Comcast will pay $158.82 […]
Nokia said on Wednesday it plans to challenge a Delhi High Court ruling that is blocking the transfer to Microsoft of assets related to its mobile phone business. One such asset – a plant in Chennai – is among Nokia’s biggest phone-making factories. Local authorities seized it last year in a tax dispute, blocking its transfer to Microsoft which bought Nokia’s mobile phone business. Nokia agreed in […]
Devender Ojha was a student in high school when he created a comic strip about a headmaster who used to turn up to class drunk. The teenager made copies of his work and displayed them in his village in Uttarakhand. It wasn’t long before it got noticed. “After that, that headmaster was sacked from the school and new headmaster came there,” said Ojha, who is now 24 […]
Research from PwC predicts that global assets under management (AuM) will rise to around $101.7 trillion by 2020, from a 2012 total of $63.9 trillion. This represents a compound annual growth rate (CAGR) of nearly 6%. The report, Asset Management 2020: A brave new world, also finds that assets under management in the SAAAME (South America, Asia, Africa, Middle East) economies are set to grow faster than […]
The Bitcoin Foundation said the Mt. Gox Bitcoin exchange in Tokyo is to blame for technical faults that prevented customer withdrawals of the virtual currency that lost as much as 21 percent of its value today. “The issues that Mt. Gox has been experiencing are due to an unfortunate interaction between Mt. Gox’s implementation of their highly customized wallet software, their customer support procedures and their unpreparedness,” […]
The price of the digital currency bitcoin slid to its lowest level in nearly two months on Monday after bitcoin digital marketplace Mt. Gox said a halt on withdrawals it announced on Friday would continue indefinitely after it detected “unusual activity.” The bitcoin price varied dramatically from one exchange to another, with Tokyo-based Mt. Gox, the best known operator of a bitcoin digital marketplace, recording one of […]
|By Pankaj Mishra| There is a great, virtual storm blowing through India today, and the most frantic people in the country seem to be those trimming their sails to it. I refer to the shrewdly concerted campaign to make Narendra Modi seem like India’s natural and inevitable leader — a veritable miracle worker who, emerging triumphant in elections due by May, will raise despondently low growth rates […]
European stocks rose for a second day as investors awaited the European Central Bank’s rate decision and weighed company earnings. Asian shares and U.S. stock-index futures also advanced. Daimler AG gained 3.4 percent after posting a 45 percent surge in quarterly profit. Volvo (VOLVB)AB climbed 4.8 percent after reporting operating profit that beat projections and saying it will cut 4,400 jobs. Credit Suisse Group AG (CSGN) fell 1.1 percent after posting […]
