Sunaina Rana / Emirates Business As the country advances towards new technical industrialisation, cyber threat is a growing concern among various sectors. In wake of the same, IBM security has recently announced a new cloud-based version of the company’s cognitive technology trained on the language of security as part of a year-long research project. Ahmed El-Zaher, Security Unit Leader, ...

  Dubai / Emirates Business Free zones of the past functioned as isolated economic clusters with little to no interaction with the local economy. In the highly digitized and innovative future, however, free zones will need to be more integrated and collaborative in their approach and open their doors to global talent, investments and technologies, according to experts on the ...

  Abu Dhabi / Emirates Business The pragmatic approach of the UAE towards its allies and neighbouring nations has enabled the country to build strong relations and play a key role in finding solutions to regional and international issues, stated His Excellency Omar Al Bitar, UAE Ambassador to China, while addressing a lecture on the topic ‘UAE 7 Star Diplomacy’ ...

  Emirates Business According to EY’s latest Global Fraud Survey, Corporate misconduct — individual consequences, only 29% of executives in the Middle East recognize cybercrime risk, compared to 47% globally. The survey found that many respondents maintain the view that fraudulent activity is not their problem, despite recognizing the prevalence of the issue in their own countries. Michael Adlem, EY’s ...

  Reuters Corral Petroleum Holdings is committed to injecting $680 million into its Moroccan refiner Samir to try to reverse a decision placing it in liquidation, a lawyer for Corral said. Morocco’s sole refiner halted production in August due to financial difficulties then a court ruling in March placed it in liquidation and named an independent trustee to run it. ...

  Bloomberg Iranian miners are seeking $10 billion to develop a domestic aluminum industry that could serve to export 60 percent of production to meet growing demand for the metal used in cars to jets and beverage cans. The raw material bauxite needed to achieve that goal is proving hard to find. Iran’s aluminum production of 350,000 metric tons a ...

  New Delhi / Bloomberg India’s parliament passed a bill to overhaul archaic bankruptcy laws, taking Prime Minister Narendra Modi a step closer to fulfilling his pledge to make it easier to do business in the world’s fastest growing major economy. The upper house approved the Insolvency and Bankruptcy Act days after it was cleared in the lower house. The ...

    Tokyo / Bloomberg Nissan Motor Co. agreed to purchase a 34 percent stake in Mitsubishi Motors Corp., as Japan’s second-largest automaker comes to the aid of its minicar partner rocked by a fuel-economy testing scandal. Mitsubishi Motors will sell about 237.4 billion yen ($2.2 billion) in shares to Nissan, according to a filing Thursday. The purchase is poised ...

  Taipei / AFP Toshiba said on Thursday that it suffered a $4.4 billion full-year net loss as the troubled conglomerate booked a massive write-down of its US nuclear unit, but said the worst was over as it forecast profits for the current business year. A once proud pillar of corporate Japan, Toshiba has been besieged by problems, most notably ...

  Tokyo / AFP Japanese electronics maker Sharp said on Thursday it suffered a $2.3 billion annual loss and released no forecast for the current business year as it assesses the impact of its acquisition by Taiwan’s Hon Hai. The Osaka-based also said an executive of Hon Hai, the world’s biggest electronics supplier, will take over as president. In March, ...