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DETROIT From his laboratory at Pittsburgh’s Carnegie Mellon University, automated vehicle pioneer Raj Rajkumar says self-driving cars will evolve step-by-step, with humans staying in charge for a long time to come.     More than 2,500 miles west in Mountain View, California, Chris Urmson, head of Google Inc’s self-driving car program since 2009, has a different view: A fully automated vehicle that requires no input or intervention from humans is […]

WASHINGTON — Senator Barbara Mikulski of Maryland on Wednesday came out in support of President Obama’s Iran nuclear accord, the 34th Democrat in favor. Her decision gave Mr. Obama the votes needed to assure the deal will survive a congressional challenge. “Some have suggested we reject this deal and impose unilateral sanctions to force Iran back to the table. But maintaining or stepping up sanctions will only […]

|By Matein Khalid| Hong Kong now trades at 9.6 times earnings and 0.86 book value. Hang Seng valuations were gutted by the protest movements in Central and the Shanghai financial meltdown. The Hang Seng index is down 25% since late May and now trades at six times forward earnings, its post Lehman, post 2014 bottom. Hong Kong trades at its lowest price/book value since the Asian flu […]

UAE.  Management in the Gulf need to take more risks and develop staff to think creatively, according to a new global innovation survey designed to help companies stop wasting their best ideas and flushing hundreds of billions of dollars down the drain. Announced in Abu Dhabi today by PA Consulting Group, the report highlights an overwhelming view that leadership of organisations in the UAE, Saudi Arabia and […]

BEIRUT, Lebanon — Lebanese demonstrators gathered by the thousands on Saturday evening to protest towering garbage piles, corruption and political dysfunction, largely avoiding the clashes with security forces that had marred earlier protests. The crowd in downtown Beirut was the biggest turnout yet, and many people arrived leery of the possibility of violence. Last weekend, security forces used water cannons, tear gas and rubber bullets as some […]

|By Matein Khalid| A month ago, I published a column predicting history’s first Made in China global recession. Wall Street finally agreed with me last week after we witnessed the most brutal crash in global equities since October 2008. I have predicated a 20% fall in US equities several times in the last three months and the 1000 point drop in the Dow last week only reinforces […]

The Saturday Profile By DAVID D. KIRKPATRICK CAIRO — Mohamed Soltan knew he had one thing going for him when the Egyptian police came to his door: He was a United States citizen, raised primarily in Ohio. It did not mean much in the moment. The police had come looking for his father, Salah Soltan, an outspoken member of the Muslim Brotherhood. But when they found only […]

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A logo is pictured at Google’s European Engineering Center in Zurich April 16, 2015. Reuters/Arnd Wiegmann/Files BRUSSELS Google Inc has rejected EU antitrust charges that it abused its market power, exposing the company to the risk of a hefty fine if it does not alter its business practices. The company’s comments came after the European Commission in April accused it of distorting internet search results to favour […]

UAE. The continuation of low energy prices is impacting both optimism and risk appetite in the Middle East, according to Deloitte’s latest report “Global CFO Signals: CFO Sentiment Q2 2015 – Staying focused; remaining vigilant”. With oil at US$53 a barrel at the time of the survey, CFO optimism fell to one of its lowest levels in recent years, with only a net 26% across the Middle East […]

|By Matein Khalid| Geopolitics is now another source of risk for the Turkish lira, government debt and Istanbul equities. The Turkish air force is bombing Daish in Syria and the secessionist Kurdish PKK party in northern Iraq. Suicide bombings have killed Turkish citizens in eastern Anatolian cities on the Syrian border. Ankara has given the US a green light to launch military airstrikes from the Incerlik air […]

News Analysis By DAVID E. SANGER August 21, 2015 To the most strident opponents of President Obama’s nuclear deal with Iran, the suspicious behavior at a military base about 12 miles southeast of Tehran has become a rallying call to defeat the accord, especially as it now appears that Iranian officials may be allowed to take their own environmental samples at the site and turn them over to inspectors. It […]

INTERNATIONAL.  In the wake of China’s recent devaluation of the yuan, companies need to be more strategic than ever in their manufacturing-sourcing decision-making, focusing on clear-headed, case-by-case analysis and tight project management.  That is according to a new study, including a survey of almost 250 senior-level executives in Western Europe and North America from manufacturing and distribution companies in 20 industries, released today by AlixPartners, the global […]

INTERNATIONAL. Global investors have shifted their attention from Greece to China amid continued concern of a Chinese recession, according to the BofA Merrill Lynch Fund Manager Survey for August. Respondents are scaling back their expectations for economic growth.  ·         China recession is now rated the number one “tail risk” by 52 percent of panel. ·         Fifty-three percent of investors say the global economy will strengthen in coming […]

A Palestinian hunger striker whose deteriorating health has posed a challenge to Israel’s policy of indefinite incarceration had agreed to give up his fast, one of his lawyers said Thursday as doctors said his condition had improved significantly. The end of the fast by the hunger striker, Mohammad Allan, came a day after Israel’s Supreme Court temporarily suspended the administrative detention order he was protesting. The lawyer, […]

Record trading of Dubai crude by two Chinese state companies this month on a decades-old oil pricing system has pushed the benchmark higher, even as other grades are being pressed lower by a global glut. The strong Dubai trade has forced Middle East producers to raise official selling prices (OSPs), driving Asian buyers to seek cheaper oil elsewhere or cut refinery runs due to low margins. Chinaoil […]

KUWAIT. On Aug. 14, 2015, Standard & Poor’s Ratings Services affirmed its ‘AA/A-1+’ long- and short-term foreign and local currency sovereign credit ratings on Kuwait. The outlook is stable. RATIONALEPrices for crude oil have fallen by around 50% in the last year. We now forecast an average Brent oil price of $55/bbl in 2015 and $67.5/bbl in 2015-2018. The sharp fall in oil prices over the past […]

INTERNATIONAL. In the last quarter of 2014, in the face of possible oversupply, Saudi Arabia abandoned its traditional role as the global oil market’s swing producer and therefore it role as unofficial guarantor of existing ($100+ per barrel) prices. In October, Saudi sources first prepared the market with statements that the country would be comfortable with oil prices as low as $80 per barrel for “a year […]

GAZA CITY — A new training regimen for fighters in Hamas’s armed wing employs slide presentations and a whiteboard rather than Kalashnikov rifles and grenades. The young men wear polo shirts instead of fatigues and black masks. They do not chant anti-Israel slogans, but discuss how the Geneva Conventions governing armed conflict dovetail with Islamic principles. The three-day workshop, conducted last month by the International Committee of […]

UAE. The upcoming 2022 FIFA World Cup in Qatar and Expo 2020 in Dubai, UAE, will see an unparalleled number of visitors to the GCC region. A number of sizeable infrastructure projects and associated developments have been earmarked to showcase the region and provide for this influx. Large-scale projects, coupled with short timeframes for completion, understandably carry with them the risk of construction disputes. Against this backdrop, […]

SANA, Yemen — After five months of war in which more than 4,000 people have been killed, Yemen’s government, exiled in Saudi Arabia, faces a fateful decision: leverage recent battlefield gains to negotiate a cease-fire with a weakened Houthi rebel movement, or try to rout the rebels once and for all. Backed by air support and ground troops from Persian Gulf nations, fighters allied with the government […]

A Middle Eastern bank has reached a settlement with hundreds of American plaintiffs, including victims of terrorist attacks in Israel, who had filed a lawsuit against the bank accusing it of supporting terrorism. A spokesman for the bank, Arab Bank, and a spokeswoman for one of the plaintiffs’ law firms confirmed Friday that an agreement had been reached, but declined to offer additional details, including the amount […]

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