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Netflix shares slip as spending weighs on profits

Friday, 18 January 2019

Netflix shares swung lower Thursday as spending at the leading streaming television service weighed on quarterly revenue that fell slightly short of expectations.Netflix shares sank two percent to $345.84 in after-market trades that followed release of earnings figures that showed the Silicon Valley company logged profit of $134 million on revenue of $4.2 billion in the final three months of last year.That compared with a profit of $186 million on revenue of $3.3 billion in the same period the ...

UAE hyperloop to finish initial construction in 2020: chairman

Thursday, 17 January 2019

The company building the world's first superfast hyperloop train system in the United Arab Emirates will complete a first phase of its construction next year, a top executive said Thursday. Hyperloop Transportation Technologies, based on Elon Musk’s concept of high-speed hyperloop transportation, plans to build 10 kilometers (six miles) of a 150-kilometer route linking Abu Dhabi and Dubai next year, company chairman Bibop Gresta told the official WAM news agency. Gresta did not give a ...

Etihad announces first commercial flight powered by locally made bio-fuel

Thursday, 17 January 2019

The world’s first commercial flight operation using locally produced sustainable fuel on an Etihad Airways Boeing 787 from Abu Dhabi to Amsterdam was announced at a press conference on Wednesday. The flight powered by GE’s GEnx-1B engines marked a major milestone in the development of a clean, alternative aviation fuel to reduce carbon emissions. Tony Douglas, Group Chief Executive Officer Etihad Aviation Group, said: “This is a significant milestone for the UAE and its key ...

US lawmakers introduce bipartisan bills targeting China’s Huawei, ZTE

Thursday, 17 January 2019

A bipartisan group of US lawmakers introduced bills on Wednesday that would ban the sale of US chips or other components to Huawei Technologies Co Ltd, ZTE Corp or other Chinese telecommunications companies that violate US sanctions or export control laws. The proposed law was introduced shortly before the Wall Street Journal reported federal prosecutors were investigating allegations that Huawei stole trade secrets from T-Mobile US Inc. and other US businesses. The Journal said that an ...

Two new charges filed against ex-Nissan chief Carlos Ghosn

Friday, 11 January 2019

Prosecutors on Friday filed two new sets of charges of financial misconduct against former Nissan chief Carlos Ghosn, Tokyo District Court said. The auto tycoon was already facing charges for one allegation of under-reporting his pay, and the new charges accuse him of additional misreporting as well as “aggravated breach of trust” involving company funds. Lawyers for Carlos Ghosn said Friday they would request bail for the ex-Nissan chief after prosecutors filed two new charges of ...

Top five IT trends that will redefine businesses in 2019

Wednesday, 9 January 2019

“We are living in an era of unparalleled innovation. As new and emerging technologies continue to redefine IT and business, the pace of change and technological advancement is accelerating,” according to Sami Abi Esber, President -MDS Gulf, Board Member-Midis Group. “Today, we are looking at a smarter, intelligent future driven by technologies such as Cloud, Artificial Intelligence, Blockchain, Internet of Things, and more. While the industry has already embarked on its digital ...

Samsung Electronics flags near 30% slump in Q4 operating profit

Tuesday, 8 January 2019

Samsung Electronics on Tuesday flagged its first quarterly profit drop in two years and painted a grim outlook owing to mounting competition from Chinese smartphone makers and declining chip prices. The shock warning added to concerns about the broader tech sector after Apple sent shudders through world markets last week by slashing its revenue forecast blaming weak sales in China and citing the trade war. Samsung -- the world’s top maker of smartphones and memory chips -- has enjoyed ...

US companies urged to protect against foreign government hackers

Monday, 7 January 2019

The US intelligence community launched a campaign Monday to help US business defend against hacking by foreign governments like China and Russia.The National Counterintelligence and Security Center began sending out detailed advisories, in brochure and video forms, to companies around the country to show them how to guard against cyber-incursions.The blitz follows hotel chain Marriott’s disclosure last week that hackers stole more than five million passport numbers of guests at its ...

Despite trust issues, America’s love for gadgets will continue to grow

Monday, 7 January 2019

The trade group behind the Consumer Electronics Show set to start Tuesday forecast that US gadget love will grow despite trust and privacy issues hammering the tech world.The Consumer Technology Association (CTA) predicted that US retail revenue in the sector would climb to a record high of $398 billion this year.“There are so many cool things happening in the consumer electronics industry right now,” said CTA vice president of market research Steve Koenig. “We are fast ...

Iraq losing $3.5mln monthly due to internet smuggling

Wednesday, 2 January 2019

The smuggling of Internet capacity is back to the forefront again in Iraq after the Minister of Communications, Naeem Thjeel al-Rubaie, disclosed that the losses of the quantities smuggled, cost the country millions of dollars a month.The minister said the cost of the smuggled volume of Internet capacity is about $ 3.5 million a month, only from the province of Kirkuk, Mosul and parts of the outskirts of the Iraqi capital, Baghdad.Al-Rubaie explained that the smuggling is done through cutting ...

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