The Japanese video game developer Sega Corp confirms that information belonging to 1.3 million customers has been stolen, which is the latest global cyber attack reported. Names, birth dates, e-mail addresses, and encrypted passwords of users of Sega Pass...
UAE plans to invest Dh80 million in education, start-ups, and R&D in the information and communication technology sector in the region. Out of Dh80 million, Dh22 million is committed towards its applied and basic research and development initiative. The...
Nokia Corp and Siemens AG have focused to restructure their joint venture in telecommunications-networking equipment. The deal popularly known as Nokia Siemens Networks is adopting a self-help strategy for the business. Under the deal, each company will put more cash...
A look at today’s important financial news and business updates from the Middle East region: Dubai's Mohammed bin Rashid Al Maktoum Solar Park project gain momentum Dubai's plans to full steam ahead with it's Solar initiatives gained further momentum after Dubai...
The world acclaimed writer and author until recently was hesitant to go cyber. She believed in the old fashioned way of reading books, page by page. However even she cannot ignore the cyber calling. On Thursday the author released to...
Middle East Business News Review - A look at today’s important financial news and business updates from the Middle East and North Africa region: Fujairah receives first oil flows through UAE’s Hormuz bypass pipeline A new pipeline connecting Abu Dhabi oil...

Drama At F1

The final decision on the fate of the 2011 Bahrain Grand Prix was certainly the right one. Even though it may have been for all the wrong reasons, including logistical inconvenience and sheer embarrassment, it yielded an unexpected bonus,...
  No matter where you decide to play golf in Dubai always know that each of the courses is designed and maintained to championship-calibre levels. The luxury of Dubai is not lost when stepping out onto the golf course. In...
Microsoft Corporation and Nokia are facing fresh embarrassment as European consumers have shown little or no interest in Nokia's first smartphone that uses Windows Phone 7 operating system. A survey carried out by Exane BNP Paribas said Friday that Christmas...
A US federal judge threw out a "grossly excessive" $1.3 billion verdict that Oracle won against SAP in a landmark intellectual property case, possibly setting the stage for another showdown between the two technology companies. Last year, Oracle won a...
A week long long treat at the Sun Valley, Idaho. Wow! Sounds amazing doesn't it ? For the past twenty odd years or so the meet-up had its glitz and glam. Since 1983, the Sun Valley Conference has been sponsored...
Employee attrition is becoming a critical issue and this has forced multi-nationals in Asia to now use social networks, blogs, online communities, gaming and other collaborative learning technologies to create a learning environment as well as comfortable work atmosphere...
Abu Dhabi Commercial Bank (ADCB) agrees to sell 24.9% stake of RHB Capital Berhad (RHB) to Aabar Investments (Aabar). The signing ceremony was witnessed by the Crown Prince of Abu Dhabi, General Sheikh Mohammed bin Zayed Al Nahyan and...

End of the PC era

It was fun while it lasted. Several pundits have been saying that the era of PC's are over. The final nail in the PC's coffin have come from one of the PC designer himself. Dr Mark Dean, who worked on...
Dubai's real estate market plummeted around 70 per cent seeing less than 1,700 deals in the first ten months this year compared to the housing market boom in mid-2008. Dubai Department of Land figures showed only 1,603 deals were...
Unrest across different parts of the Middle East has not signalled any growth in the influx of people who intend to switch base to Dubai. The worst performing market has been the real estate sector in Dubai. The political unrest...
Air passengers in UAE will have a new Fujairah-based low-cost airline in the coming year. The new carrier is expected to fly to touch all main cities in the gulf region. The carrier has plans to extend its services...
A global body that charts the course of the Internet is set to discuss a revolutionary plan to open new domain suffixes for private companies. This will be discussed in the meeting held by the Internet Corporation for Assigned...

Sipchem Sukuk

Sipchem (Saudi International Petrochemical Co) plans to fund its expansion with Islamic bonds and expects to raise up to 2 billion riyals ($533.3 million) from the issue. The company has already started the road show for the Sukuk sale and...
Starting from today, July 15th 2011 leaving flyers on parked cars (in public places) and at door steps is banned in the Dubai emirate. Abdul Majeed Abdul Aziz Al Sifai, Director, Waste Management Department, DM, said (to a local newspaper),...
The People's Bank of China said it would increase one-year lending rates by a quarter of a percentage point to 6.56%. Benchmark one-year lending rates will be raised 25 basis points to 6.56 percent, and benchmark one-year deposit rates will...
Not a day goes by now without any news from the technology sector. Thanks to Google, Microsoft and many other tech companies, the tech news are becoming quite popular. Google seems to be in the news again this week. This...
Earlier this month, LivingSocial, the second-largest discounted deals operator, was in talks with investment banks for an initial public offering. Now, it has been confirmed that they have hired JPMorgan Chase, Deutsche Bank and Bank of America Merrill Lynch...
Apple goes red against Samsung, this time in South Korea. On Friday Apple Inc, widened a legal battle against Samsung Electronics Co. by filing suit against the major electronics makes in its home market of South Korea. a country where...
Children all over the world have grown up with Barbie dolls. Either its Rock Star Barbie, Tour Guide Barbie, Doctor Barbie or of of the numerous alters available. For years Barbie has been under attack for trying to influence...
When Groupon Inc., the daily-deals leader, filed for a $750 million IPO issue earlier last month, a ripple effect was expected, and here it is. LivingSocial, the second-largest discounted deals operator, is said to be in talks with investment banks...
Japanese electronics giant Sony suffered another quarterly loss of $2.1 billion for the last quarter of 2011 compared with a profit of $940 million a year earlier. Hammered and beaten down by weak sales and tough competition, Sony anointed...
Dubai Electricity and Water Authority (Dewa) have amended Decree No 1 of 1992 to facilitate private players to participate in power generation and water desalination. According to Dewa, the amendment was to allow for the development of independent water...
  In a presentation to market analysts, Etisalat has revealed plans to consolidate its smaller assets in “fragmented markets” through mergers, acquisitions or asset sales and also record up to 5 percent revenue growth in 2013. The Gulf's second largest telecom...
Australian Climate Change Minister, Greg Combet, said he expects to conclude details of a plan for a carbon tax soon after making progress in talks with lawmakers. The Multiparty Climate Change Committee- including the minister and lawmakers met yesterday...
The UAE recorded the highest growth in energy consumption in the Arab world and is mainly attributed to rapid population rise and a steady expansion in non-hydrocarbon sectors. The demand for oil and other hydrocarbon products grew by about...

Dubai to host Sibos

Sheikh Ahmad Bin Saeed Al Maktoum, Chairman of the Dubai Supreme Fiscal Committee, announced that Dubai will host the premier international banking and financial services seminar, in 2013. Sibos is expected to be held in September 2013 and will...
Seeking to build an ambitious new citywide surveillance project, china is looking west for assistance. Cisco and other western companies are reportedly working with the Chinese government to install a network of one half-million surveillance cameras in the rapidly growing...