News

  Abu Dhabi / Emirates Business UAE-satellite operator, Yahsat, is all set to celebrate the fifth anniversary of the launch of its first satellite, Y1A, on April 23. In 2011, the Ariane 5 rocket carrying the satellite launched from the European Space Centre in Kourou, French Guiana. The following year Yahsat launched its second satellite, Y1B. Currently, the company is ...

  DUBAI / Emirates Business Globally 74 percent of all targeted attack attempts use email vectors, even as business emails are estimated to reach 139.4 billion per day by 2017. Trend Micro on average blocks 50 billion email spam-sending IP addresses. Spear phishing is commonly being used by attackers to gain access to a company networks to facilitate a targeted ...

  Dubai / Emirates Business The British luxury performance brand Jaguar has chosen the iconic Burj Khalifa for the Middle East launch of its first ever performance SUV; the Jaguar F-PACE, which has been lined up for the unveiling on May 2. The brand would be the first in line to use the world’s tallest building facade as a communications ...

  Dr Abdulrahim Abdulwhahid Emirates Business The 7th Session of the Organization of Islamic Cooperation (OIC) Ministerial Conference on Food Security and Agricultural Development and the Inaugural General Assembly of the Islamic Organization for Food Security (IOFS) will be concurrently held in Astana, Republic of Kazakhstan, between April 26–28. The Conference will be hosted by the Ministry of Agriculture of ...

  DUBAI / WAM The value of announced M&A transactions with any Middle Eastern involvement reached US$4.7 billion during the first quarter of 2016, a decline of 67% compared to the first quarter of 2015, Thomson Reuters, the world’s leading source of intelligent information for businesses and professionals, said in its the quarterly investment banking analysis for the Middle East ...

  Bloomberg Even if oil producers didn’t seal the output freeze deal they hoped would stabilize the market, they saw revenues soar in the run up to the failed meeting last weekend in Doha. The 29 percent advance in prices since word first leaked that Saudi Arabia and Russia were considering capping output boosted the value of global oil production ...

  Bloomberg Saudi Arabia is considering a dual listing as a way to reach investors beyond the local stock market for the sale of shares in state-owned oil giant Aramco, which could be the world’s largest initial public offering, the kingdom’s deputy crown prince said. “We are thinking about several options,” Prince Mohammed bin Salman, who heads Saudi Arabian Oil ...

  Tokyo / AFP Mitsubishi Motors shares nosedived again on Thursday as panic selling wiped about $2.5 billion off the automaker’s market value in response to its shock admission that it cheated on fuel-efficiency tests. The embarrassing revelation is the latest in a string of recent scandals to hit Japanese firms, while German giant Volkswagen struggles to restore its badly ...

  Kuala Lumpur / Bloomberg Malaysia is selling global Islamic bonds against the backdrop of an increase in credit risk amid a dispute between a troubled state-investment company and Abu Dhabi’s sovereign wealth fund over debt obligations. The government is marketing $1 billion of Shariah-compliant notes due in 2026 at 135 basis points over Treasuries and $500 million of bonds ...

  Panama City / AFP Japan on Wednesday agreed to finance a $2.6 billion monorail Panama intends to have built by 2022 as an extension of its young metro system, the Panamanian government said. “This financing Japan is giving us today is recognition of the solidity and credibility of Panama,” a statement quoted President Juan Carlos Varela saying during a ...