September, 2016

• 21 September

  Saudi Binladin seeks second extension on Grand Mosque loan

    Reuters Saudi Binladin Group (SBG) has requested a second extension on an 817 million riyal ($217.9 million) Islamic loan being used to fund construction at the kingdom’s Grand Mosque, sources aware of the matter said. The talks to delay the loan repayment, originally due to mature on July 15, came after the Saudi government failed to fully reimburse the ...

  Read More »
• 21 September

  Israel’s OurCrowd raises $72mn to boost crowdfunding deals

  Bloomberg OurCrowd Ltd., a website that connects investors to a pool of mostly Israeli and U.S. startups, said it raised $72 million to expand its operations and invest in other businesses. Jon Medved, the chief executive officer and co-founder of OurCrowd, said the new funds will be split evenly between the venture arm and the company itself, which plans to ...

  Read More »
• 21 September

  OPEC seen failing to clinch oil-output deal

  

    Bloomberg OPEC probably won’t clinch a deal to limit oil production in Algiers next week as members stay focused on either boosting output or defending their market share, according to a Bloomberg survey. The Organization of Petroleum Exporting Countries, which will hold informal talks with Russia on Sept. 28, faces the same internal rivalries that thwarted a previous agreement ...

  Read More »
• 21 September

  Say hello to Google Allo

  

    Bloomberg Google unleashed its digital assistant for the first time, arriving late to the intensifying race among the largest technology companies to create a more personal and lucrative way for computers to interact with humans. The Google Assistant uses artificial intelligence tools, such as voice recognition and natural-language processing, to answer questions and satisfy other requests delivered verbally and ...

  Read More »
• 21 September

  An algorithm to click a pic fits the mood

  

    Bloomberg Instead of hiring a professional photographer for an important marketing job last year, Massimo Portincaso gave the job to computer software. Portincaso, the head of marketing at the Boston Consulting Group, was tasked with overhauling his company’s website. It was a straight-forward assignment, giving the site a fresh look highlighting the business’s capabilities. When the time came to ...

  Read More »
• 21 September

  Spotify leads the music streaming market

  

    Relaxnews Spotify CEO Daniel Ek, took to Twitter to announce that the world’s leading music streaming site has topped 40 million paid subscribers — a new record. Spotify now counts more than twice as many paid users as its main rival, Apple Music, which has already signed up 17 million subscribers in just over a year. This new record ...

  Read More »
• 21 September

  The ‘art’ of peace

  

    AFP On bakery walls, buildings and roadside sheeting in South Sudan’s capital, Juba, street artists fed up with war are painting for peace as young musicians, actors and artists campaign to end decades of conflict. A mural of a child in a singlet working at a sewing machine reads “the young who are tired are the ones who will ...

  Read More »
• 21 September

  Abodes of air-shelter remnants

  

    DPA Martin Heimeier decided to leave the hole in the roof as it was, though it has been capped with some concrete. The cover over the 3.5-metre-wide gap gouged by the bomb — more about that later — has been painted gold and has a spotlight so that Heimeier’s tenants can light up the ceiling recess whenever they want. ...

  Read More »
• 20 September

  Emirates Global Centre for Accreditation board appointed by decree

  DUBAI / WAM In his capacity as Ruler of Dubai, the Vice President and Prime Minister of the UAE, His Highness Sheikh Mohammed bin Rashid Al Maktoum, has issued Decree No. 27 of 2016 forming the Board of the Emirates Global Centre for Accreditation. According to the Decree, the Director-General of Dubai Municipality chairs the board with Hussein Salem Al ...

  Read More »
• 20 September

  flydubai half-year revenue reaches AED2,302 million

  

    DUBAI / WAM flydubai on Tuesday announced its half-year results for 2016 and reported total revenue of AED 2,302 million (US$627 million), an increase of 5.4 percent compared to the same period last year. A loss of AED89.9 million (US$24.5 million) was also reported which is 39 percent lower than H1 of the previous year. During the period, passenger ...

  Read More »