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An Airbus logo is seen at the Airbus A380 assembly site in Blagnac, southern France, in this March 21, 2018 file photo. — AFP
Airbus hit by series of cyber attacks on suppliers
PARIS — European aerospace giant Airbus has been hit by a series of attacks by hackers who targeted its suppliers in their search for commercial secrets, security sources said, adding they suspected a China link.There have been four major attacks on Airbus in the last 12 months, according to two security sources involved in investigating the hacking.The group has long been considered a tempting target because of the cutting-edge technologies that have made it one of the world's biggest commercial plane manufacturers, as well as a strategic military supplier.In January, it admitted to a security incident that "resulted in unauthorized access to data", but people with knowledge of the attacks outlined a concerted and far bigger operation over the last year.Hackers targeted...
September 26, 2019

Airbus hit by series of cyber attacks on suppliers

A British Airways plane takes off from the runway at Heathrow Airport's Terminal 5 in west London in this Sept. 13, 2019 file photo. — AFP
British Airways-parent cuts profit forecast on strikes
LONDON — IAG, the owner of British Airways, said on Thursday it was cutting annual profits guidance after taking a hit of 137 million euros from BA pilots carrying out historic strikes.IAG "expects its 2019 operating profit before exceptional items to be 215 million euros ($236 million) lower than 2018", the group said, noting that it was taking hits also from threatened strike action elsewhere and lower bookings going forward.BA grounded its entire UK fleet over two days this month when for the first time in its 100-year history pilots employed by the airline went on strike in a long-running dispute over pay.Even though pilots represented by the BALPA union have cancelled a third 24-hour stoppage, BA has said it has been able to revert to only a half-service on Friday having...
September 26, 2019

British Airways-parent cuts profit forecast on strikes

Joseph Stiglitz
Top economist Stiglitz sees 'significant slowdown', not crisis
PARIS — Nobel prize-winning economist Joseph Stiglitz said the global economy is entering a severe slowdown, but saidP in an interview he did not see it hurtling toward crisis."I would say that I don't see a crisis," said the US economist in Paris where he was promoting the French version of his latest book: People, Power, and Profits: Progressive Capitalism for an Age of Discontent."What I see is a significant slowdown," he said. "In the process of this significant slowdown, there will be bankruptcies."He said that slowdown deprived corporate managers of a cushion to soften the consequences of their errors."When you are slowing down and you mismanage, you go bankrupt."This made people nervous, "but the particular situation for a global...
September 26, 2019

Top economist Stiglitz sees 'significant slowdown', not crisis

US President Donald Trump and Japanese Prime Minister Shinzo Abe hold a meeting in New York on Wednesday on the sidelines of the United Nations General Assembly. — AFP
Trump announces 'first stage' of 'phenomenal' Japan trade deal
NEW YORK — US President Donald Trump said on Wednesday Washington and Tokyo had taken a major step toward sealing a comprehensive new trade deal, after a year of negotiations between the global economic powers.Sitting next to Japanese Prime Minister Shinzo Abe, Trump said the leaders "formally announce the first stage of a phenomenal new trade agreement," adding "this is a big chunk, but in the fairly near future we are going to have a lot more."As Trump and Abe met on the side of the UN General Assembly in New York, the Japanese leader said a deal would be "a win-win solution" for both nations.Under the agreement, Japan will cut tariffs for $7 billion in US farm exports, while reducing mark-ups on purchases of American wheat and barley.In return, Washington...
September 26, 2019

Trump announces 'first stage' of 'phenomenal' Japan trade deal

Oceans  capture and store 30 percent of greenhouse gas emissions
'Blue finance' to put oceans on sustainable path
PARIS — The world's oceans are set to become an increasingly vital resource for helping the planet cope with soaring population growth, but officials are only beginning to craft regulatory frameworks that would ensure "blue financing" goes where it's needed most.From food production and marine biotechnology research to seabed mining and renewable energy production, investors are expecting a wave of initiatives in the waters that cover 70 percent of the Earth's surface.But the ventures will also require stepped up efforts to keep oceans clean and viable – eight million tons of plastic are entering each year, according to the World Bank, and over-fishing has already severely depleted some stocks."Much of what has to be done in the blue economy is...
September 25, 2019

'Blue finance' to put oceans on sustainable path

Public sector finance professionals seek a more radical future
DUBAI — The public sector’s image as a place where little or no innovation happens is challenged in a global research report from ACCA (the Association of Chartered Certified Accountants), Innovation in public finance. The report revealed that 91% of public sector respondents said some kind of innovation was happening in their organization, with slightly less - 90% - in the private sector claiming this was the case.Some 4,436 ACCA members across 142 countries took part in the survey, with online panel discussions with 89 members across 32 countries. The level of innovation was measured across three areas: people-based, data and technology, and process innovation, with the report aiming to investigate what kind of innovation is taking place in public finance, while also looking ahead to...
September 25, 2019

Public sector finance professionals seek a more radical future

pwc
Investing in Saudi Arabia talent a top priority for PwC
RIYADH — PwC in Saudi Arabia welcomed 104 new graduates to its offices in the Kingdom. The new graduates are part of a larger pool of 322 new graduates who joined PwC across its12 offices in the Middle East, as part of the firm’s continued confidence to invest in the region.With the Kingdom ushering in a new era of change and a strong focus on nurturing and developing its local talent, this year’s PwC graduate intake, a record of 100% Saudi nationals, is a testament to the efforts already underway. PwC aims to play its part in bringing the Kingdom’s 2030 vision to life and contribute to the local economy. Investing in local talent has always been and will always be a key priority for the firm since its inception in the Kingdom over 40 years ago.Riyadh Al Najjar, PwC KSA Country...
September 25, 2019

Investing in Saudi Arabia talent a top priority for PwC

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Accenture in deal to hone skills of blue-collar workers
DUBAI – Accenture and Smart Labour are collaborating to help blue-collar workers gain new skills for the digital economy.Under the terms of the agreement, Accenture will offer its expertise to help Smart Labour — a Dubai-based organization that helps laborers develop skills for long-term, sustainable careers — train a wider group of blue-collar workers. Accenture will also develop a roadmap that is aligned with Smart Labour’s overall mission and help the organization streamline its operations in the UAE and the Gulf region.The collaboration, among the first social innovation projects in the Middle East, is part of Skills to Succeed — Accenture’s global corporate citizenship initiative that helps equip people around the world with job skills for the digital ageSmart Labour’s...
September 25, 2019

Accenture in deal to hone skills of blue-collar workers

Walter Jopp Zurich
Zurich launches 2nd global ‘Innovation Championship’
ZURICH — Zurich Insurance Group (Zurich) has launched the second edition of its global ‘Zurich Innovation Championship’, offering startups from around the world the opportunity to work with the global insurer to grow their business.In its second year, the global contest which prides itself as one of the leading startup events in the world looks for established startups with commercially viable technologies and innovative business models. The startups could be from any sector, especially those who tackle challenges around climate, health, automation and other issues expected to put a strain on the next generation.Zurich is seeking bold thinking and groundbreaking ideas that can help make a lasting impact in a changing world. In addition, there is a ‘wildcard’ category for startups...
September 25, 2019

Zurich launches 2nd global ‘Innovation Championship’

Majority of parents worried about their child’s online safety
JEDDAH — Eighty six percent of parents in Saudi Arabia are worried about their children’s online safety, according to the latest survey commissioned by Kaspersky and conducted by the market research company Savanta. Nevertheless, on average, parents only spend a total of 22 minutes talking to their children about online security through their entire childhood. More than half (83%) of those surveyed spend less than 30 minutes discussing the subject, which is half the time of one standard school lesson.Children’s privacy and security online are becoming one of the parents’ most prominent concerns. These are well founded as, according to the Kaspersky’s survey, over 99% children between seven- to 12-years old globally now have an internet-enabled device, smartphone or tablet.In...
September 25, 2019

Majority of parents worried about their child’s online safety

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