BLOOMBERG Efforts by regulators to level the playing field among European banks is putting Swedish lenders at a disadvantage, according to the chief executive officer of SEB AB, one of the Nordic country’s four big banks. Regulators from Stockholm to Basel are pushing to shrink differences in how banks estimate potential losses, an undertaking designed to ensure that lenders …

  Bloomberg Forgot your bank card at home? No worries. Many ATMs will soon dispense cash with help from a smartphone and banking app. A growing number of banks are letting consumers arrange withdrawals via their mobile app and pick up the cash at a nearby automated teller machine. Customers authenticate the transaction by scanning a QR code with their …

  Washington / AFP It may be inside a protest rally, or in front of a deadly shooting. Smartphones, video and social media are empowering citizens to tell their stories like never before. This became clear with the live video earlier this month from Diamond Reynolds when she captured the aftermath of the shooting by a police officer of her …

  Jean-Claude Elias / TNS Once again robots are making the headlines. Whether it is Amazon’s robotic arms sorting out the stock of goods, packing the clients orders and dispatching them, or Google’s self-driving car, robots are on us, and for good. Beyond the extraordinary prototypes that always manage to impress the crowd like Honda’s celebrated Asimo, robots working hard …

  ABU DHABI / WAM The Ministry of Human Resources and Emiratisation announced that all construction facilities with a 500 plus workforce must appoint at least one local occupational health and safety officer from 2017. Saqr bin Ghobash Saeed Ghobash, Minister of Human Resources and Emiratisation explained, “We will stop granting facilities with over 500 workers any further work permits, …

  Dubai / Emirates Business The Rental Disputes Center (RDC), the judicial arm of the Dubai Land Department (DLD), signed a Memorandum of Understanding (MoU) with the Central Bank of the United Arab Emirates, in order to facilitate prompt information exchanges between the RDC and banks operating in the UAE for Rental Disputes. Furthermore, an electronic framework of cooperation will …

  Dubai / WAM The Ministry of Human Resources and Emiratisation registered 99.8 percent level of compliance for the midday break by 29,185 firms since the implementation date till mid-July, while 47 firms violated the laws. Maher Al-Obed, Assistant Undersecretary for Inspectional Affairs, said the records were gathered across the UAE by 18 teams of well-trained inspectors, pointing out that 29,232 …

  New York / WAM In an agreement signed today, the Government of the United Arab Emirates committed to the opening of the new UN Women Liaison Office for Gulf Cooperation Council (GCC) in Abu Dhabi. As a founding member of the Gulf Cooperation Council, UAE has poised itself as forward looking country committed to gender equality and the empowerment of …

  Dubai / Emirates Business The Middle East is rapidly becoming a high priority destination for the leading global beauty and wellness brands, thanks to it’s phenomenal growth rates. According to the latest research from Euromonitor International, the beauty and personal care market in the Middle East and Africa is expected to surge at 6.4% over the next five years, …

  RITIKA SHARMA / Emirates Business Accounting for a major chunk of overall automobile sales, the SUV (sports utility vehicle) segment in the UAE is on the right track, experts say. The sales in the country are higher by a substantial 5-6 percent as compared to other GCC nations. Given the elements of luxury, style and comfort that are combined …