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 […]
Asian stocks dropped after the regional benchmark index climbed for a sixth day yesterday to cap its longest run of advances this year. Asahi Group Holdings Ltd. slid 4.5 percent in Tokyo after Japan’s second-largest beermaker’s net-income forecast missed estimates. Tokyo Tatemono Co. plunged 8.3 percent after the developer predicted full-year operating profit below analyst expectations. Qantas Airways Ltd. jumped 6.3 percent after the Sydney Morning Herald […]
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 […]
A massive cyber attack from unknown sources that has been spamming bitcoin exchanges is highlighting some of the dangers people can encounter when they exchange cash for digital currencies like the bitcoin, experts said on Wednesday. The attack, which is technically known as a distributed denial of service attack, involved thousands of phantom transactions, forcing at least three of the online platforms that store bitcoins and trade […]
U.K. billionaire Richard Branson said his Virgin Galactic venture is on track to carry its first fare-paying passenger to the edge of space this year, and that he plans to take his family on a flight some time in 2014. Virgin Galactic, which completed the third rocket-powered supersonic flight of its SpaceShipTwo vehicle from Mojave Air and Space Port in California last month, is on course to […]
India, the world’s biggest sugar producer after Brazil, will introduce a subsidy on raw sweetener exports to boost shipments amid a domestic glut, a government official said. The cabinet approved a 3,333 rupees ($54) a metric ton subsidy for exports in February and March and will review the amount in April, the official, who asked not to be named because the person isn’t authorized to speak to […]
President Barack Obama was sued by Senator Rand Paul over U.S. electronic surveillance he claims is illegal, adding to challenges that may land post-Sept. 11 government data collection in the U.S. Supreme Court. The Kentucky Republican announced today that he had filed his complaint in Washington federal court. Paul was joined as co-plaintiff by FreedomWorks Inc., a Tea Party-backed group. The filing couldn’t be immediately confirmed in […]
Fox News – The Mercedes-Benz S-Class sedan has already put the world on notice, from its standard stance on opulence in the S550 to the impeccably impressive S63 AMG super sedan. Now, the sedan gets a sleeker, sportier companion: the 2015 S-Class Coupe. A striking profile marks the S-Class Coupe apart from the teeming hordes of four-doored coupe wannabes. This is a true coupe, and it wears its proportions like a larger-than-life sports […]
Deutsche Bank AG agreed to hand over documents related to a probe into the operations of its Dubai-based wealth management division after being taken to court by the emirate’s financial free zone regulator. The Dubai Financial Services Authority began proceedings against the Frankfurt-based lender at the Dubai International Financial Centre Courts on Oct. 31 in an attempt to force the bank to comply with its investigation. Deutsche […]
The U.S. House of Representatives narrowly approved a one-year extension of federal borrowing authority on Tuesday after Republicans caved into President Barack Obama’s demands to allow a debt limit increase without any conditions. The 221-201 vote, carried mainly by Democrats, marked a dramatic shift from the confrontational fiscal tactics House Republicans have used over the past three years, culminating in last October’s 16-day government shutdown. It came […]
|By Cushla Sherlock| As the global economy continues its recovery, Credit Suisse’s top investment ideas focus on carefully selected themes which aim to help you generate more bang for your buck in 2014 – from China to cash-rich companies. In this video, Giles Keating, Head of Private Banking Research, explains the rationale behind the ideas and the investment implications. Idea 1: Europe’s Recovery Rationale: Europe’s recovery is slowly […]
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 Bayt.com ‘Millennials in the MENA’ survey, recently conducted by Bayt.com and YouGov Siraj, a research and consulting organization, has revealed that in the UAE, millennials (working professionals 35 years of age or below) are considered to be innovative and hardworking by older peers, and that the majority of them (71%) consider entrepreneurship more preferable than employment. Millennial Careers in the UAE: Current and Future Four in […]
Smarting from growing losses, Taiwanese phone maker HTC Corp says it will expand its range of cheaper products as it fixes off-target marketing for its premium smartphones. The company that has long prided itself as a purveyor of upscale, feature-loaded products says it needs to sell more mid-tier and affordable smartphones after losing out in 2013. Muscled off-track by fast-growing Chinese rivals like Xiaomi Inc as well […]
|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 […]
Meryl Davis and Charlie White did not lose sleep over what U.S. Figure Skating called “laughable” allegations suggesting the United States and Russia had brokered a deal to help each other win gold medals at the Sochi Olympics. “There was an anonymous report citing an unnamed source that there was some kind of collusion between America and Russia regarding the ice dancing competition,” U.S. Figure Skating spokesperson […]
The U.S. trade representative on Monday will announce a trade enforcement action tied to India, his office said, a move that could further rile relations after an incident last year involving the arrest and strip-search of an Indian consul. U.S. Trade Representative Michael Froman will discuss the action at a news conference at 2 p.m. (1900 GMT), his office said on Sunday night. The Office of the […]
A number of new openings will come up this week when local companies from different sectors hold walk-in interviews. Among the companies holding open days for jobs include Dubai Refreshments, Dubai Islamic Bank, Crown Plaza Hotel, Gulf Medical University and an IT company. Dubai Refreshments, the sole franchisee and distributor for Pepsi Co. in the UAE, is recruiting Warehouse Supervisor, Store and Spare Parts Supervisors, QA/QC Chemist, […]
The U.K. has chosen HSBC Holdings to arrange and advise on its debut Islamic bond planned for as early as this year in an effort to become the first non-Muslim nation to sell the debt, a Treasury official said. Other banks will be mandated closer to the time of the sale, the official said yesterday, asking not to be named because the information isn’t public. Linklaters LLP […]
The Federal Reserve’s decision to keep trimming its economic stimulus drew fire on Friday as India’s central bank chief said Americans should be more attuned to the global impact of their policies, and the IMF called for vigilance given strains in financial markets. The push-back came on Fed Chairman Ben Bernanke’s last day on the job and two days after the U.S. central bank reduced the pace […]
The Reserve Bank of India unexpectedly raised its policy interest rate on Tuesday by 25 basis points but said that if consumer price inflation eases as projected it does not foresee further near-term tightening. The policy decision was driven by an expectation that consumer price index (CPI) inflation will remain high, an indication that the RBI is looking to adopt a recent proposal to base its policy […]
After a scary sell-off in emerging markets in the past week, investors who specialize in the sector are looking for places to hide while also looking for opportunities to benefit. And that means finding countries that have stronger economic underpinnings and political stability, while abandoning or betting against those whose current account balances and government budgets are deeply in the red and where there is political turmoil. […]
Gold rallied for a third session on Monday to its highest in two months as equities fell on worries that capital outflows from emerging economies would continue, boosting bullion’s safe-haven appeal. Asian shares took a beating and the yen raced to a seven-week high against the dollar, with the U.S. Federal Reserve poised to continue tapering its stimulus and tighter credit conditions in China raising fears of […]
