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Police on the hunt for bitcoin users in Bangladesh

Tuesday, 20 February 2018

Officials of the central bank have warned all other commercial banks in the country to be wary of bitcoin users.The trading of the popular virtual cryptocurrency is illegal in Bangladesh, but the trading and usage of this currency is still rampant – a fact that has riled Bangladesh Bank.Officials of the central bank have warned all other commercial banks in the country to be wary of bitcoin users. The Foreign Exchange Police Department and some other departments are being considered to be ...

Donald Trump Jr. arrives in India to help sell apartments

Tuesday, 20 February 2018

The eldest son of President Donald Trump has arrived in India to help sell luxury apartments and lavish attention on wealthy Indians who have already bought units in Trump-branded developments.Donald Trump Jr. posed for photos Tuesday morning with Indian developers, who are building the complexes in four cities. Later in the week, he is scheduled to make a speech about Indo-Pacific relations at a New Delhi business summit, sharing the stage with Prime Minister Narendra Modi.The Trump ...

Saudi cyber security body inks MoU with SANS Institute

Monday, 19 February 2018

The Saudi Cyber Security and Programming Federation has signed a Memorandum of Understanding (MoU) with the SANS Institute in a move that aims to exchange knowledge, transfer technology and localize capabilities. The MoU was signed on Monday by the Federation’s Vice Chairman, Dr. Abdullah Sharaf Alghamdi. “Signing this agreement with a distinguished company in cyber security training such as SANS will open great horizons for the members of the Federation through professional ...

Saudi Arabia’s King Salman receives Indian finance minister in Riyadh

Monday, 19 February 2018

Saudi Arabia's King Salman met with Indian Finance Minister Arun Jaitley, who is also heading the India operations of the Saudi-Indian Joint Committee,  at Al-Yamamah palace in Riyadh on Sunday."During the meeting, they discussed bilateral relations and ways of developing and enhancing them in various fields," the Saudi Press Agency reported. "The audience was attended by Prince Abdulaziz bin Saud bin Naif bin Abdulaziz, Minister of Interior, Minister of State and ...

Dubai-based startup secures investment from Chelsea FC owner in Initial Coin Offering

Monday, 19 February 2018

The Dubai-based messaging app, Telegram, has attracted several Russian investors, including Chelsea FC owner Roman Abramovich, since it announced its Initial Coin Offering (ICO) in December 2017, the Arabian Business magazine reported.An ICO is commonly used by startups to avoid regulatory processes to raise capital, instead it gets funds by selling cryptocurrency to early investors in exchange for legal tender. The cryptocurrency then becomes a functional unit of currency if the project meets ...

Saudi initiative to crack down on food waste as $13bn squandered yearly

Monday, 19 February 2018

Saudi Arabia on Sunday launched a national program to crack down on food waste after shocking figures estimated the cost of wastage at $13.3 billion a year, amounting to a third of the country’s food production.The initiative aims to effectively exploit natural resources and establish policies to reduce waste among popular grains and foods, including wheat, rice, dates, vegetables, fruit, red and white meat.The Saudi Grains Organization said at a press conference in Riyadh that it will ...

Report: Saudi Arabia’s cabinet approves bankruptcy law

Sunday, 18 February 2018

Saudi Arabia’s cabinet has approved a bankruptcy law, sources familiar with the matter said on Sunday, giving a boost to efforts to make the kingdom more enticing to investors. Modern bankruptcy legislation does not currently exist in Saudi Arabia, creating difficulties for struggling companies seeking to restructure debt with creditors since the 2009 global financial crisis and, more recently, the dip in oil prices. The kingdom is embarking on an intensive drive ...

Despite Turkish reservations, Qatar, ExxonMobil plan oil drilling off Cyprus

Sunday, 18 February 2018

Following Qatar’s signing of a deal with US petroleum company ExxonMobil in 2017 to explore oil and gas off the coast of Cyprus, a Turkish energy expert said that Turkish President Erdogan should warn Qatar of going ahead with the deal as Turkey is known for blocking oil exploration on their territory, according to Ahval News newspaper. Turkish Coast Guard vessels had prevented the Italian energy company, Eni, from drilling near Cyprus, which caused tensions to rise between both countries. ...

Pakistan has sold around 750,000 tons of wheat for export

Saturday, 17 February 2018

Pakistan has sold around 750,000 tons of wheat ready for export with a price range of around $188 to $200 a ton, free-on-board, grain exporter Seatrade group said on Saturday. “Some of the wheat is being sold as milling wheat and other as feed ... Some is going by road to Afghanistan,” Tayub Rafiq Balagamwala, director of corporate affairs, told an industry event in Dubai. Pakistan has been hardly visible in wheat export markets in past years with its main sales going to ...

Three held in $1.8 bln Indian public sector bank fraud case

Saturday, 17 February 2018

India’s federal police arrested two employees at Punjab National Bank believed to be at the center of a staggering $1.77 billion fraud, a police source said on Saturday, in the first arrests so far in the country’s biggest-ever bank scam. The arrests late on Friday come amid an intensifying probe involving various authorities after India’s second-largest state-run lender said on Wednesday it had been hit by massive fraud. The two bank employees who were arrested, Gokulnath ...

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