March, 2016

• 15 March

  Addressing security challenges in smart cities

  

  Sunaina Rana / Emirates Business The past few years have witnessed a steady growth of smart cities in the region, with UAE initiatives like Dubai Plan 2021 and Dubai Smart City program by 2017 topping the list. As they create new opportunities for businesses, the need for potential security against data breaches underlines the importance of technological advancements too. According ...

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• 15 March

  Is Abenomics going global?

  

  Japan and its two decades of economic stagnation seem as if they’re about to have company. The International Monetary Fund and OECD both seem prepared to lower their global growth forecasts for the coming year because of what they see as a continuing slowdown in the global economy. Foreign Affairs even devoted its most recent issue to surviving a slow-growth ...

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• 15 March

  ‘Regime change’ alone won’t cure what ails Brazil

  

  The simplest reading of the protests that swept Brazil on Sunday is that Latin America’s largest nation is clamoring for regime change. The 3 million or more people who filled the streets and parks of Rio de Janeiro, Sao Paulo and dozens of other Brazilian cities turned out to say they’re fed up with the relentless corruption scandal that has ...

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• 15 March

  BoJ chief defends negative rate move as economy sinks

  

  TOKYO / AFP Japan’s central bank chief on Tuesday defended a negative interest rate policy slammed as a desperate bid to keep alive efforts at resuscitating the world’s number three economy. Haruhiko Kuroda’s comments came after the Bank of Japan held off unleashing more stimulus following a two-day meeting, as it gauges the impact of its unprecedented move into sub-zero rates. ...

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• 15 March

  Africa’s biggest bank plans job cuts as customers go digital

  

  BLOOMBERG FirstRand Ltd. plans to close branches and cut jobs at its South African retail-lending unit as customers switch to digital banking and the continent’s biggest lender by market value responds to an economy on the brink of a recession. Almost 600 positions will be lost at First National Bank, while more than 500 people at the Johannesburg-based company may ...

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• 15 March

  Emerging currencies weaken on Fed rate bets as oil batters ruble

  

  BLOOMBERG Emerging-market currencies weakened for a second day and stocks fell from a 2016 high as sliding oil prices weighed on assets of commodity exporters and growing wagers the Federal Reserve will raise interest rates as soon as the next quarter damped demand for risk. The South African rand and Russia’s ruble depreciated at least 1.7 percent, leading declines among ...

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• 15 March

  SNB to keep intervention threat alive, rates on hold

  

  BERN / Bloomberg The Swiss National Bank (SNB) will probably stay on hold at its monetary policy meeting on March 17 as banks in the country are already facing pressure from negative interest rates, economists and strategists say in notes to clients. The fact that the euro remained broadly stable against Swiss franc after the European Central Bank (ECB) meeting ...

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• 15 March

  Safran, Rolls-Royce tie-up on small jet engines?

  

  Bloomberg Safran SA Chief Executive Officer Philippe Petitcolin said he is open to partnering with Rolls-Royce Holdings Plc to power a new generation of regional and business jets. Safran views the market as potentially lucrative but not one that can be addressed via its CFM International venture with General Electric Co., which specialises in bigger engines for single-aisle jetliners, Petitcolin ...

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• 15 March

  Sainsbury posts 1st quarterly sales hike in two years

  

  Bloomberg J Sainsbury Plc reported a surprise increase in fourth-quarter sales as it ponders whether to boost its bid for Argos owner Home Retail Group Plc. Same-store sales rose 0.1 percent excluding gasoline in the nine weeks ended March 12, London-based Sainsbury said in a statement on Tuesday. The gain ended two years of declining sales and compares with analyst ...

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• 15 March

  Amazon seeks patent for buying ‘items with a look’

  

  San Francisco / AP Online retail colossus Amazon is seeking a US patent on using selfies — instead of passwords — for shopping when using smartphones. Seattle-based Amazon reasoned that combining sensor and camera capabilities in smartphones with face and gesture recognising software results in higher security than passwords or identification numbers. “Such approaches provide for user authentication without the ...

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