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NEC, in partnership with Singapore public transport service provider SMRT Corporation, is using artificial intelligence (AI) to prevent bus accidents on the city-state’s roads. The Japanese giant is taking historical data from a bus driver’s work records, telematics data produced by each bus, and observations made by on-board data scientists to determine whether a driver is likely to cause an accident in the next three months, and […]

March 20, 2017 by: Aliya Ram in New Delhi and Simon Mundy in Pune Vodafone, the UK-based mobile phone operator, has struck a deal to merge its Indian operations with local rival Idea Cellular to create one of the world’s largest telecoms groups, with a combined implied enterprise value of more than $23bn. The two companies on Monday confirmed the deal, which is the second merger in the […]

Mansour Bin Jabr’s idea of a hard life may not resonate with everyone. “The cars, the jets, they don’t make me happy. I’m a hippie in a way. I love islands, beaches,” says the 30-year-old chief operating officer of Bin Jabr Group, having just returned from a business trip in the Maldives. “I see myself retired in the Bahamas in a resort I own with my toys. […]

By Anthony Boadle | BRASILIA BRASILIA President Michel Temer, confronting a corruption scandal tarnishing Brazil’s lucrative meat industry, met on Sunday with executives and foreign diplomats to assuage health concerns tarnishing a sector responsible for $12 billion in annual exports. The hastily called meetings, following raids by police on Friday investigating whether companies paid bribes to conceal unsanitary conditions at meatpackers, come as Temer works to protect […]

By Bill Berkrot | WASHINGTON WASHINGTON A newer class of type 2 diabetes drugs significantly cut the risk of death and hospitalization for heart failure compared with other medicines for the disease, according to data released on Sunday from a so-called real world study sponsored by AstraZeneca. The drugs, known as SGLT-2 inhibitors, work by removing blood sugar via the urine and include Astra’s Farxiga, Jardiance from […]

Tim Byrnes is an unlikely symbol of China’s bid to become the world’s high-tech superpower. For a start he is Australian. Yet the 39-year-old quantum physicist’s decision to swap a research post in New York for Shanghai goes some way to explaining the lengths to which Beijing is going in its efforts to upend the world order. “Quantum physics is very strong in China,” says Mr Byrnes. […]

Our round-up of the week’s best comment and analysis from the Financial Times focuses on positive signals for the word’s second-largest economy and the implications for investors of the Federal Reserve rate rise. The selection is taken from our Markets Insight and Smart Money columns, written by industry contributors and FT commentators. Investors may be wary of being burnt by China but the drumbeat of bullish noises […]

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By Michael Nienaber | BADEN-BADEN BADEN-BADEN The failure of the world’s financial leaders to agree on resisting protectionism and support free trade marks a setback in the G20 process and poses a risk for growth of export-driven economies such as host Germany, economists said on Sunday. Acquiescing to an increasingly protectionist United States after a two-day meeting in the German town of Baden-Baden, the finance ministers and […]

Here are the big questions for markets and investors as a new trading week beckons. Does a measured Fed risk being left behind by inflation?After a barrage of central bank meetings, Brexit angst and the first major European election for the year, market volatility across bonds and equities remains quiescent. Having been primed for a more aggressive Federal Reserve and wary of polls being wrong ahead of […]

With GCC governments placing so much emphasis on start-ups as the backbone of a stronger, non-oil based economy, people would be forgiven for thinking it was all about quantity over quality. In fact, in an interview two years ago, a senior official at Abu Dhabi government leading on the UAE’s ‘Takamul’ patenting initative, came right out and said it. He told Arabian Business that the quality of […]

In a startling move that went contrary to almost everyone’s expectations, the US Citizenship and Immigration Services (USCIS) announced that there would be no changes in H-1B “skilled worker” visas this year. Applicants who still wished to apply for the skilled worker category visa would face the same Congressional limit of 65,000 in the general category and another 20,000 for foreign students who have a masters degree […]

There are more than 100 places to get steak in the UAE and more steakhouses are opening all the time, which is testament to the fact that beef is one of the world’s most popular dishes. If there’s one thing the UAE likes to eat it’s beef, and the country’s connoisseurs have long enjoyed a love affair with one particular type – Wagyu. This intensely marbled beef […]

President Donald Trump has proposed to boost federal spending on the production of nuclear weapons by more than $1 billion in 2018 while slashing or eliminating spending on many federal programs related to diplomacy, foreign aid, and social needs, in a budget proposal that reflects the first tangible expression of his defense priorities. The $1.4 billion budget increase for the National Nuclear Security Administration amounts to just […]

German container shipper Hapag-Lloyd on Friday postponed the completion date for its takeover of United Arab Shipping Company (UASC) to May 31 from March 31, but said the deal, worth 7 to 8 billion euros ($7.52-8.60 billion), was not at risk. All merger clearances and regulatory approvals and all necessary banking approvals from Hapag’s side have been obtained as have most banking approvals from Dubai-based UASC’s side, […]

Half of GCC-based companies have not started to prepare for the launch of 5 percent value added tax in the region next year, according to a survey conducted by global consultants EY. Only 11 percent of businesses said they have evaluated the changes that are needed to their financial, operational and information technology processes ahead of the introduction of VAT in January 2018. The survey revealed that […]

From the evil alien foe Krall in Star Trek Beyond, which was partly shot in Dubai, to the battle-hardened guerrilla commandant in Netflix’s harrowing debut feature Beasts of No Nation, and the tortured murder detective in the globally successful detective-show Luther, British actor Idris Elba has made a career out of playing tough guys. His latest show for Discovery Channel, Idris Elba: Fighter, however, sets out to […]

A security researcher has published a way to gain the highest level of a network’s access — without needing a password. Alexander Korznikov said in a blog post that a privileged user, such as a local administrator with system rights and permissions, can use built-in command line tools to hijack the session of another logged-in user who has higher privileges. He said that if that other logged-in […]

Forced applause usually follows a regulator’s remarks to the regulated. Not so inside the pink stucco walls of the Boca Raton Resort and Club in Florida this week. Chris Giancarlo of the Commodity Futures Trading Commission received a standing ovation when he spoke to hundreds of traders, brokers and exchange executives.  The enthusiastic response reflects hopes in the derivatives industry for a better relationship with the CFTC, its principal […]

Via Stratfor, In his joint address to Congress, U.S. President Donald Trump touted a $1 trillion infrastructure investment plan as a means to stimulate the economy while constructing, if not rebuilding outright, crucial projects around the country. Trump later met with U.S. business leaders on March 8 seeking support from the private sector for the plan. It is key to implementing the administration’s infrastructure goals, primarily as a way […]

By Abdelaziz Boumzar | MOSUL, Iraq MOSUL, Iraq Thousands of Iraqis surged out of western Mosul on Saturday during a lull in heavy fighting in districts around the densely populated Old City where Iraqi forces are facing fierce resistance from Islamic State militants. Five months into the battle to take Islamic State’s last bastion in Iraq, government forces have cleared the east and half of western Mosul, […]

Prices for bonds sold by the Netherlands and France fell on Thursday, reversing early gains as Dutch voters rejected rightwing populism and opted for the status quo in an election regarded as a litmus test for Europe’s political future. Dutch and French sovereign debt initially outperformed German Bunds as investors reacted to news that the anti-EU populist Geert Wilders’ PVV party had fallen short of expectations. However, […]

Brazil’s economy will emerge this quarter from its deepest recession on record and reach a growth rate of up to 3 per cent by the final three months of the year, central bank chief Ilan Goldfajn has said.  The recovery would be driven by a combination of easier monetary policy as inflation falls to levels not seen since January 2010, economic reforms that are boosting investor confidence […]

Junk bond funds saw their biggest outflows since December 2014, as investors expressed concern about high prices for speculative debt and falling energy prices put pressure on companies in the sector. Investors withdrew $5.7bn from high-yield bond funds in the week up to Wednesday, according to EPFR Global. It came as West Texas Intermediate, the US crude marker, last week dropped back below $50 a barrel. Oil […]

Warren Buffett’s compensation for running Berkshire Hathaway Inc (BRKa.N) edged up 4.0 percent last year to $487,881 reflecting the higher cost of keeping the world’s second-richest person safe. Buffett’s pay was disclosed in a Friday regulatory filing, in which Berkshire also recommended the rejection of three shareholder proposals at its May 6 annual meeting, including that it disclose its political contributions twice a year. Berkshire said Buffett’s […]

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