Wednesday 25 May 2016

India counts cost of reduced Gulf remittances

Having quit his low-paid job with a contractor in Qatar, electrician Kurian Joseph scrabbles for work each day in his hometown in Kerala, a southwestern state that has one of India's highest unemployment rates. He's a casualty of the global oil price collapse. Stories lik


Slow response to past crashes could hinder EgyptAir search

Teams searching for the black box flight recorders of a missing EgyptAir jet that crashed with 66 people aboard face technical constraints that aviation experts increasingly blame on a slow regulatory response to earlier disasters. As a three-year deep-sea search for Malaysia Air


UAE solar push may trigger a trend for the Gulf

As the Gulf states take steps to expand their use of clean energy, a bold plan by the UAE to boost its use of renewable electricity from less than one per cent to 24 per cent in the next five years could be a game-changer for the region, experts say. Much of the world is moving a


Eating fat won't make you fat say groups

Encouraging people to eat a low-fat diet is making Britain's weight problem worse, not better, and it is having a disastrous impact on health, two anti-obesity campaign groups said on Monday. In a report questioned by other health specialists, the National Obesity Forum (NOF)


To halt smartphone slide, Samsung rewrites playbook

From the way it chooses smartphone components to the models it brings to market, Samsung Electronics has undergone a painful process of breaking from its past to reverse a slide in its handset business. For example, the world's largest smartphone maker agonised over camera sp


Abu Dhabi lays off staff as Gulf austerity tightens

Thousands of layoffs at state-linked companies in Abu Dhabi, UAE are a fresh sign the Gulf's wealthy oil states are hunkering down for a long period of austerity as low crude prices pressure their economies. Since mid-2015, the United Arab Emirates, Saudi Arabia, Qatar and ot


Russia eyes Mideast foreign investment drive

Russia, which has attracted $23 billion from the Gulf over the past several years, is once again focussing on the region, even as low oil prices prompt Middle East nations to launch diversification programmes by investing abroad. Economic woes have motivated the traditionally con


Food prices could double over demand, water scarcity

Swelling populations and demand for food combined with ever scarcer water and land resources could lead to a doubling of food prices and trigger civil unrest in some developing countries, a new report says. Demand for food with a higher environmental impact, such as meat, has sur


Cyber thieves exploit banks' faith in SWIFT

Shortly after 7 pm on January 12, 2015, a message from a secure computer terminal at Banco del Austro (BDA) in Ecuador instructed San Francisco-based Wells Fargo to transfer money to bank accounts in Hong Kong. Wells Fargo complied. Over 10 days, Wells approved a total of at leas


Egypt faces challenging probe into missing jet

Egypt launched an official investigation into the disappearance of an EgyptAir flight on Thursday, heralding what safety experts called a daunting probe into the apparent loss of an Airbus jet with 66 people on board. The A320 disappeared from controllers' screens over the Me

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