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ICD CEO Ayman Sejiny and IAP Integrated’s CEO Joann Maryam Enriquez sign the collaboration MoU on Thursday in Kuala Lumpur. — Courtesy photo
ICD, IAP Integrated sign MoU in Kuala Lumpur
KUALA LUMPUR — The Islamic Corporation for the Development of the Private Sector (ICD), the private sector arm of the Islamic Development Bank (IsDB) Group, on Thursday inked a collaboration Memorandum of Understanding (MoU) with IAP Integrated Sdn Bhd (IAP Integrated), the owner and operator of the Investment Account Platform or IAP. The collaboration MoU was inked during a signing ceremony held here.The MoU came as a result of an ongoing discussion about future collaboration, between ICD and IAP Integrated since the Jan. 22 during the visit of the IAP Integrated’s management team to ICD’s office in Kuala Lumpur.Ayman Sejiny, the CEO of ICD commented, “ICD is pleased to be the first organization that IAP Integrated turns to in an effort to market its crowd funding Fintech...
October 04, 2019

ICD, IAP Integrated sign MoU in Kuala Lumpur

Reserve Bank of India (RBI) governor Shaktikanta Das looks on during a press conference at the central bank's headquarters in Mumbai on Friday. India's central bank cut interest rates for the fifth time this year, revising growth forecasts as Asia's third-largest economy battles high unemployment rates and weak economic activity. — AFP
India central bank makes fifth rate cut, slashes growth forecast
MUMBAI — India's central bank on Friday cut interest rates for the fifth time this year, putting them at a near-decade low, while it also slashed its growth forecasts as authorities struggle to kickstart Asia's third-largest economy.The Reserve Bank of India (RBI) said the benchmark repo rate — the level at which it lends to commercial banks — would be reduced by 25 basis points to 5.15 percent, the lowest since March 2010.The RBI "decided to continue with an accommodative stance as long as it is necessary to revive growth, while ensuring that inflation remains within the target", the Mumbai-headquartered bank said in a statement.The bank also slashed its economic growth forecast for this financial year to 6.1 percent, from 6.9 percent, noting that the global...
October 04, 2019

India central bank makes fifth rate cut, slashes growth forecast

In this file photo taken on June 02, 2015 British energy giant BP CEO Bob Dudley addresses a keynote speech during the World Gas Conference in Paris.  BP said on Friday that Chief Executive Bob Dudley, who oversaw the energy giant's response to and recovery from the devastating Gulf of Mexico 2010 oil spill disaster, will leave next year. — AFP
BP chief executive Dudley stepping down
LONDON — BP said Friday that Chief Executive Bob Dudley, who oversaw the energy giant's response to and recovery from the devastating Gulf of Mexico 2010 oil spill disaster, will leave next year.American Dudley, 64, will step down on Feb. 4, 2020 and retire at the end March, the company said in a statement, adding he will be succeeded by upstream division boss Bernard Looney, from Ireland.The announcement brings the curtain down on Dudley's 40-year career at the London-listed energy major, eventually steering it back into profit following the deadly oil spill tragedy that badly damaged its reputation.BP clocked up vast losses on clean-up and compensation costs and was forced to ax thousands of jobs and sell billions of dollars of assets to pay a total bill of $70 billion.Dudley...
October 04, 2019

BP chief executive Dudley stepping down

Almarai is No.6 world’s best regarded food company
Almarai has been ranked by Forbes among world’s Best Regarded companies for 2019. Almarai ranked sixth in the food business and 123rd on the list that included 250 companies. Forbes partnered with Statista to cull annual list of the world’s 2,000 largest public companies down to the top 250 best-regarded businesses ranked based on trustworthiness, social conduct, the strength of their products and services and how they fare as employers, by surveying 15,000 respondents from more than 50 countries. Almarai Company is the world’s largest vertically integrated dairy company and the region’s largest food and beverage manufacturing and distribution company. Headquartered in the Kingdom of Saudi Arabia, Almarai Company is ranked as the number one FMCG Brand in the MENA region and is...
October 03, 2019

Almarai is No.6 world’s best regarded food company

Number of new mortgage contracts grow to 254%: SAMA
RIYADH — The monthly report issued by Saudi Arabian Monetary Authority (SAMA) revealed that the volume of new residential mortgages for individuals provided by banks and institutions continued to grow in August 2019 with 317% comparing to August 2018.The number of real estate loans last August reached 12,306 contracts with total value 5.2 billion Riyals, achieving a growth rate of more than 218% based on year.The SAMA report explained that the total number of individual's mortgage until August 2019 reached 96,787 contracts with total value of SR43,816 billion, compared to about 27,000 contracts with SR16,884 billion during the same period in 2018.The number of contracts achieved growth of more than 254% and about 160% in the value compared to 2018.According to the SAMA report, in...
October 03, 2019

Number of new mortgage contracts grow to 254%: SAMA

In this file photo taken on Sept. 29, 2018 a big wave approaches a surf dog and paddle boater on their board during the 10th annual Surf City Surf Dog contest in Huntington Beach, California. Airbnb Thursday began offering
Airbnb adds getaways in tune with the animal kingdom
NEW YORK — Airbnb on Thursday began offering "Animal Experiences" — promising harmony with nature, from lazing with alpacas to helping dogs struggling to survive in the aftermath of the Chernobyl nuclear disaster.The startup expanded beyond home-sharing services about three years ago into offering ways for travelers to dive into local happenings.Airbnb has built a line-up of "experiences," in which lodging comes with conduits to local cuisine, arts, music, outdoor adventures and even socially-minded activities.Animal Experiences promises travelers getaways that could allow them to engage with many kinds of creatures and their "human advocates" — and ways that might help, instead of harm, nature."With technology taking up so much of our lives,...
October 03, 2019

Airbnb adds getaways in tune with the animal kingdom

This handout photo obtained Wednesday courtesy of Microsoft shows a woman looking at a new dual-screen device Surface Duo. Microsoft unveiled Surface tablet computers with twin-screens that opened like books, and a notepad-sized version that put it back in the smartphone game. — AFP
Twin-screen Duo puts Microsoft back in smartphone game
SAN FRANCISCO — Microsoft on Wednesday unveiled new Surface devices with twin-screens that open like books, including a notepad-sized version that will put it back in the smartphone game next year.Surface Duo was touted as the first device in the lineup to fit into a pants pocket, with two "paper-thin" 5.6-inch screens that unfold and work in harmony with a specially tailored Android operating system.Described as a "new category" of device, Duo can make telephone calls and run applications designed for Google-backed Android mobile software, which powers most of the world's smartphones."You are going to talk about it as a phone, and I get that," Microsoft chief product officer Panos Panay said at a Surface event in New York of Duo, which will be available...
October 03, 2019

Twin-screen Duo puts Microsoft back in smartphone game

An Airbus A380 of the Emirates airline is seen after landing on at the airport in Duesseldorf, western Germany, in this Sept. 24, 2019 file photo. — AFP
EU girds for trade riposte after US ups ante on tariffs
PARIS — European nations scrambled on Thursday to prepare a response to new US tariffs on billions of dollars' worth of EU goods after Washington got the go-ahead from the World Trade Organization to strike back over state subsidies for planemaker Airbus.But officials also indicated they still hoped to find common ground to avoid escalating trade tensions that risk battering economies across the globe."We've been arguing for a trade deal for months. Our hand is extended," French Finance Minister Bruno Le Maire said."I hope the United States will listen to this voice, which to my mind is the voice of reason," Le Maire told journalists in Paris, calling Washington's move to tax $7.5 billion of EU imports a "serious economic mistake."US President...
October 03, 2019

EU girds for trade riposte after US ups ante on tariffs

Grab faces a $21 million in Malaysia for alleged anti-competition practices. — AFP
Malaysia threatens ride-hailing firm Grab with $21 million fine
KUALA LUMPUR — Malaysia's competition watchdog on Thursday threatened to hit Grab with a $21 million fine for practices that allegedly reduce competition, the latest problem for the ride-hailing giant.Grab is the biggest ride-hailing firm in Southeast Asia, and has strengthened its hold on the market since buying US rival Uber's operations in the region last year.But the Singapore-headquartered firm has come under scrutiny from regulators in several countries due to concerns about its dominant position.The Malaysia Competition Commission proposed fining Grab almost 87 million ringgit ($21 million) for preventing its drivers from providing advertising services for the company's competitors.This had the effect of "distorting competition" by creating barriers to...
October 03, 2019

Malaysia threatens ride-hailing firm Grab with $21 million fine

Alison Cooper
Tobacco giant Imperial says CEO stepping down
LONDON — British tobacco giant Imperial Brands, which recently warned over a backlash against vaping in the United States, said on Thursday that Chief Executive Alison Cooper is stepping down.Cooper, who served nine years as CEO and has been at Imperial for 20 years, will leave once her successor has been appointed, Imperial said in a statement that gave no reason for her departure."Alison has worked tirelessly and with great energy and passion... and the board would like to thank her for the tremendous contribution she has made," said Chairman Mark Williamson."During her tenure as chief executive, the business has been significantly simplified and reshaped to strengthen its long-term growth potential, and more than £10 billion ($12 billion, 11 billion euros) in dividends...
October 03, 2019

Tobacco giant Imperial says CEO stepping down

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