South Carolina state Rep. Rick Quinn used his public office as a multimillion-dollar money funnel that enriched his family’s powerful political empire while doing the bidding of shadowy corporate interests in the Legislature, prosecutors said Tuesday. Misconduct charges handed down as part of the ongoing Statehouse corruption probe paint a picture of influence and greed involving a key cog in one of the state’s oldest and more […]
May 17, 2017 The Islamic Corporation for the Development of the Private Sector (“ICD”), the private sector arm of IDB Group, and JSC “Hamkorbank” have entered into a Joint Strategic Collaboration to finance SMEs in Uzbekistan. Mr. Khaled Al-Aboodi CEO of ICD and Mr. Ikram Ibragimov, Chairman of the Supervisory Board of JSC “Hamkorbank”, signed the financing agreement for the amount of USD12 million. The collaboration will […]
One minute I’m in an office in Dubai’s Jumeirah Lakes Towers; the next, I have been transported to the grounds of a villa in the Sheikh Zayed Housing Programme. I scan the garden – there’s a ball by my feet, so I pick it up and toss it out of the way. Next, I teleport myself just inside the front door. I take a wander around the […]
AMD is plotting a June launch for its EPYC server processor, formerly code-named Naples, as it aims to become a data center leader to go along with its desktop and graphics chips. For AMD, the data center is it’s most promising–and tough to crack–market. Intel dominates the data center, but AMD is betting its architecture and a move to software defined approaches can give it momentum. Now […]
Kuwait Airways has appointed Ebrahim Abdullah Al-Khuzam as its new CEO, taking over from Rasha Al-Roumi, who resigned last month. Formerly MD of AREF Investment Group KSCC, advisor to the chairman of Kuwait Finance House and GM of telco Zain, Al-Khuzam was announced one of the newly appointed board members of Kuwait Airways in the wake of Al-Roumi’s resignation, and will now take on the additional role […]
In today’s world, millennials are always looking for the best that life can afford, from artisan coffee to avocados on everything, but when they need money for items of importance – like bills – they don’t know what happened. Millionaire Tim Gurner decided to call millennials out on this and tell the younger generation like it is. All Artisan Everything Gurner, the Australian native who made his money […]
By Parisa Hafezi | ANKARA ANKARA Iranians vote for president on Friday in a contest likely to determine whether Tehran’s re-engagement with the world stalls or quickens, although whatever the outcome no change is expected to its revolutionary system of conservative clerical rule. Seeking a second term, pragmatist President Hassan Rouhani, 68, remains the narrow favourite, but hardline rivals have hammered him over his failure to boost […]
The Internet Society has been closely monitoring the ransomware cyber-attacks that have been occurring over the last couple of days. The malware, which has gone by multiple names, including WannaCry, WannaDecryptor, and WannaCrypt, exploits a flaw in Microsoft Windows that was first reportedly discovered by the National Security Agency (NSA). A group of hackers leaked the code for exploiting this vulnerability earlier this year, and a fix […]
By Elias Biryabarema | KAMPALA KAMPALA Ugandan President Yoweri Museveni ordered his security chiefs on Tuesday to stop torture by their personnel after media images of a detained politician with septic wounds on his body stirred public outrage. Human rights activists said those images and other recent incidents where suspects have appeared in court with torture marks on their bodies point to escalating brutality and impunity on […]
“I have been there and, believe me, I have been afraid.” This was how the first African-American Arctic explorer, Matthew Henson, described his expeditions to the North Pole in 1912. It is a feeling novelist Laline Paull can empathise with, for totally different reasons. During her trip to the Arctic, which became the inspiration for her fascinating new novel, Paull’s paralysing fear came from the obvious effects […]
Yahoo Inc said on Tuesday it would buy back $3 billion of its common shares, ahead of the company’s pending deal with Verizon Communications Inc. Shares in Yahoo, which has a 15 percent stake in Chinese e-commerce company Alibaba Group Holding Ltd, were up 0.6 percent at $50.15 in premarket trading. Yahoo said it would pay between $50.79 and $44.74 per share based on its calculations, Alibaba’s […]
The blockbuster listing of Ant Financial, the payments affiliate of Alibaba, has been put on ice until the end of next year at the earliest, according to bankers. Market players have been counting on Ant, which runs China’s popular Alipay mobile payments service, to be the star in this year’s initial public offerings calendar. It was valued at $60bn in its last financing round in April 2016, […]
By Ian Simpson | WASHINGTON WASHINGTON Codes to gain access to United Airlines cockpits may have been made public, the carrier said on Monday, but it stopped short of confirming a report that a flight attendant inadvertently published the codes online in a potential threat to air security. The airline still could keep its flight decks secure through other measures, Maddie King, a spokeswoman for United Continental […]
By Jonathan Stempel | NEW YORK NEW YORK Warren Buffett’s Berkshire Hathaway Inc (BRKa.N) on Monday said it added to its sizable investments in American Airlines Group Inc (AAL.O) and Southwest Airlines Co (LUV.N), and shed its stake in Twenty-First Century Fox Inc (FOXA.O). In a regulatory filing, Berkshire said that in the first quarter its American stake grew 8 percent to 49.3 million shares worth $2.08 […]
Dubai, 15 May, 2017 SAMENA Telecommunications Council today announced global technology leader Nokia as the newest addition to its membership. Nokia, the leading provider of state-of-the-art end-to-end telecom infrastructure solutions, has unparalleled credentials in enabling infrastructure for next generation mobile as well as fixed broadband networks including 5G and the Internet of Things. Nokia is focused on developing solutions that expands the human possibilities of the connected […]
Abu Dhabi’s Mubadala Investment Co. plans to invest as much as $15 billion in SoftBank Group Corp.’s Vision Fund and start two new venture capital funds to build its technology holdings. The SoftBank fund will be “wrapped up” in two to three weeks with about $95 billion of commitments, according to Ibrahim Ajami, head of venture capital at Mubadala Capital, the sovereign wealth fund’s investment arm. Mubadala plans to […]
DUBAI // Schools need to strike a better balance between preparing pupils to pass exams and providing a holistic education, a new report by Dubai’s education regulator says. The Future of Education report published by the Knowledge and Human Development Authority said the best schools prepared pupils for the future, not just tests. The research was conducted in partnership with the Education Development Trust, a non-profit education […]
Hours before Germany formally declared war on France in WWI, Marcel Proust penned a letter to his financial advisor that anticipated the horrors to come. “In the terrible days we are going through, you have other things to do besides writing letters and bothering with my petty interests, which I assure you seem wholly unimportant when I think that millions of men are going to be massacred […]
JOHANNESBURG South Africa’s top court heard arguments from opposition parties on Monday to allow a motion of no confidence against President Jacob Zuma to taken by secret ballot, which they hope could help to depose him. Ouside the court, around 1,000 protesters from different opposition parties marched peacefully to the Constitutional Court, some waving signs demanding that Zuma be removed. Zuma and the ruling African National Congress […]
DUBAI // A 23-year-old man stole more than Dh500,000 worth of jewellery from his grandmother, a court was told. “You stole from your own grandmother?” Dubai Criminal Court judge Erfan Atteyah asked the 23-year-old Emirait, who confessed to a theft charge and apologised for his actions. “A mistake, your honour. I have never done it before nor will I do it ever again,” said the defendant. The […]
Italy’s Atlantia has launched a bid to buy its Spanish rival Abertis in a deal that values the target at €16.3bn and would create one of the world’s largest toll road and infrastructure companies. Atlantia announced its bid on Monday even though it did not have the full backing of the Abertis cornerstone shareholder Criteria, the Barcelona-based holding of the powerful Caixa foundation. The offer is structured […]
Authored by Federico Pieraccini via The Strategic Culture Foundation, With Moon Jae-In’s victory in South Korea, the period of tension on the Korean Peninsula is likely to end. With the rise to power of the new president, South Korea can expect a sharp decline in hostilities with North Korea as well as a resumption of dialogue with China. An expected and highly anticipated victory was confirmed in South Korea on […]
By Henning Gloystein | SINGAPORE SINGAPORE Oil prices jumped 1.5 percent on Monday after the energy ministers of the world’s two biggest producers Saudi Arabia and Russia jointly said that a crude production cut would be extended from the middle of this year until March 2018. Brent crude was at $51.58 per barrel at 0621 GMT, up 74 cents, or 1.46 percent, from its last close and […]
SYDNEY U.S. buyout firm TPG Capital Management on Monday raised its cash bid for Fairfax Media Ltd (FXJ.AX), offering A$2.76 billion ($2.04 billion) for the struggling Australian publisher and sending its shares to a six-year high. The fresh offer from TPG [TPG.UL] and partner Ontario Teachers’ Pension Plan Board (OTPP) would allow shareholders to cash out completely rather than leaving them with scrip in a piecemeal collection […]
