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6081 - 6090 from 16533 . In "BUSINESS"
Avinash Lakshman, Hedvig CEO and Sanjay Mirchandani, Commvault CEO
Commvault acquires Hedvig to accelerate its strategic vision
TINTON FALLS, N.J. – Commvault (NASDAQ: CVLT), a leading provider of software for the management of data across cloud and on-premises environments, announced that it has entered into a definitive agreement to acquire software-defined storage (SDS) innovator, Hedvig, for total consideration of $225 million, which includes the purchase price and ongoing employee retention.Gartner expects that by 2023, software-defined storage (SDS) instantiations of vendor storage OSs running in the cloud will become the dominant method of building multi-cloud storage infrastructures.This move to cloud, and multi cloud environments, together with cloud native applications is driving competitive advantage for companies for all sizes; yet the acceleration of data fragmentation is negatively impacting...
September 08, 2019

Commvault acquires Hedvig to accelerate its strategic vision

Signing one of the agreements
SAGIA to co-host Saudi-UK Higher Education forum
RIYADH — The Saudi Arabian General Investment Authority (SAGIA) hosted the Saudi-UK Education Meeting at its Riyadh headquarters, convening more than 100 representatives of 14 entities from Saudi Arabia and the United Kingdom. Partnering with SI-UK – an advisory firm focused on supporting students applying to study in the UK – attendees explored opportunities in Saudi Arabia’s higher education segment.Saudi Arabia’s university-aged population is rapidly expanding and is expected to reach a cohort of more than four million 18-to-24-year-olds by 2025, up from three million today. Government stakeholders have also recognized a need to engage private sector organizations to ensure higher education outcomes are aligned with job market requirements. National development and...
September 08, 2019

SAGIA to co-host Saudi-UK Higher Education forum

Saudi GDP growth seen moderate at 0.5% in 2019
JEDDAH — Saudi Arabia “is expected to see very limited growth this year at only 0.5%”, reflecting renewed oil production cuts by OPEC+, which the Kingdom has spearheaded in order to stabilize international oil prices, ICAEW/Oxford Economics said in its Economic Update Middle East Q3 2019 report released over the weekend.Aggregate oil production in the Gulf Cooperation Council (excluding Bahrain and Qatar due to missing data points), Iran and Iraq dropped from 24.8m barrels per day (b/d) in the first half of 2018 to 23.9m b/d over the same period in 2019, representing a 3.6% contraction. Downside risks to the global economy, ranging from an expected US recession in 2020 to an escalation in the US-China trade war, have also weighed on oil prices in the past few months, dropping to...
September 08, 2019

Saudi GDP growth seen moderate at 0.5% in 2019

The accelerator aims to activate patents across a variety of services
20 Saudi startups graduate from the Inventions Transfer Accelerator Program
RIYADH — King Abdulaziz City for Science and Technology (KACST), represented by the Badir Program for Technology Incubators and Accelerators, has organized a graduation ceremony in Riyadh to celebrate 20 technological innovations produced by the second inventions transfer accelerator for 2019. The accelerator aims to activate patents across a variety of services aimed at speed up the implementation, development and marketing of inventions to within a maximum of six months.The graduation ceremony was attended by Dr. Fawzan Al-Fawzan, deputy general supervisor for innovation and manufacturing at KACST, Esam Al-Thukair, vice governor of entrepreneurship advancement at the General Authority for Small and Medium Enterprises (Monshaat) and Mohammed Al-Huzaimi, director of shared services at...
September 08, 2019

20 Saudi startups graduate from the Inventions Transfer Accelerator Program

Abdullah H. Al-Fozan
How energy price reforms in Saudi Arabia impact inflation
By Dr. Abdullah Al FozanChairman, KPMG Saudi ArabiaAS oil prices increase or decrease, inflation follows in a similar direction, primarily due to oil being a significant input in a country’s economy and used in critical activities such as transportation and heating.In Saudi Arabia, where oil is the primary source of income, global oil price shocks have a comparatively lesser impact on inflation compared to changes in domestic energy prices. However, the inflationary impact of higher local energy prices is likely to be considerable.For a given increase or adjustment in energy prices, the higher the share of energy products in the consumption basket (typically captured by their weight in the CPI), higher are the first-round effects on headline inflation. This relationship between oil...
September 08, 2019

How energy price reforms in Saudi Arabia impact inflation

Mohamed Bardastani
Kuwait needs to bolster non-oil sector for growth
KUWAIT— The extension of the OPEC+ oil output cuts until Q1 2020 will have negative repercussions for Kuwait’s economy, amplified by pressure on oil prices, according to ICAEW’s latest Economic Update report. GDP growth is expected to plateau to around the 1.2% pace registered in 2018. However, government spending should continue to support non-oil activity in the near term, preventing a sharper slowdown for Kuwait.Economic Update: Middle East Q3 2019, produced in partnership by ICAEW and Oxford Economics, says the economic outlook for Kuwait remains closely tied to the recent oil developments. With the oil sector accounting for well over 50% of Kuwait’s output, the oil sector expansion slowed to around 1.3% in Q1, from 2% in Q4 2018. But non-oil activity strengthened to 4.1% -...
September 07, 2019

Kuwait needs to bolster non-oil sector for growth

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Riyadh forum aims at connecting MENA cyber professionals
RIYADH — Riyadh will host the 7th Middle East and North Africa Information Security Conference 2019, on Sept. 9-10 this year under the theme Cyber Space, The New Frontier: Deception, Orchestration and Blackholes. "Eng. Samer Omar, CEO of VirtuPort highlighted that the increasing attacks on Saudi Arabia are due to its economy being one of the strongest economies in the Middle East and ranked among the top 20 global economies, making Saudi companies and institutions a direct and indirect target of cyber-attacks to disrupt their operations and seize their data and resources.He shed light on the importance of continued focus on human capital in addition to investments in tools and technologies required by companies and government agencies to secure themselves from cyber related threats....
September 07, 2019

Riyadh forum aims at connecting MENA cyber professionals

Trade Minister Ruhsar Pekcan
Turkey calls on US to lift barriers to increase trade
ISTANBUL — Turkey asked the United States to lift trade barriers between the two countries during talks on Saturday aimed at sharply increasing bilateral commerce, Turkey's trade minister said.Washington and Ankara have set an ambitious goal of quadrupling their trade to $100 billion a year, despite the prospect of US sanctions over Turkey's recent purchase of Russian missile defence systems.Trade Minister Ruhsar Pekcan said she expressed Turkey's "clear expectation" to US Secretary of Commerce Wilbur Ross over the removal of "certain barriers and policies as implemented by the US administration that constitute (an) obstacle to enhancing our bilateral trade."The White House said in May it was ending a preferential trade agreement with Turkey, saying...
September 07, 2019

Turkey calls on US to lift barriers to increase trade

facebook
Facebook faces antitrust probe
WASHINGTON — A coalition of US states unveiled on Friday an antitrust investigation of Facebook, the first of what is expected to be a wave of action against dominant technology firms.New York state Attorney General Letitia James announced the action on behalf of seven other states and the District of Columbia to probe "whether Facebook has stifled competition and put users at risk."The case may be the first in a series of antitrust actions against Big Tech firms and highlights growing "techlash," based on worries about platforms which control the flow of online information and dominate key economic sectors."We will use every investigative tool at our disposal to determine whether Facebook's actions may have endangered consumer data, reduced the quality of...
September 07, 2019

Facebook faces antitrust probe

amazon fire
Brazil deforestation rises, Amazon fire worries soar
BRASILIA/SAO PAULO — Deforestation in Brazil's Amazon rainforest rose for the fourth straight month in August from a year earlier, according to preliminary government data released on Friday, adding to concerns over fires already ravaging the region.The Brazilian Amazon is facing its worst spate of forest fires since 2010, with news of the destruction of the world's largest rainforest last month prompting global outcry and worries that it could hurt demand for the country's exports.Brazil's leading meat export industry group and other agribusiness associations on Friday joined with nongovernment organizations (NGOs) to call for an end to deforestation on public lands, demanding government action amid the fires."I haven't seen any contracts being canceled in any...
September 07, 2019

Brazil deforestation rises, Amazon fire worries soar

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