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Silhouette of mobile user is seen next to a screen projection of Apple logo in this picture illustration. — Reuters
Apple in talks with potential suppliers of sensors for self-driving cars — sources
SAN FRANCISCO — Apple Inc has held talks with at least four companies as possible suppliers for next-generation lidar sensors in self-driving cars, evaluating the companies' technology while also still working on its own lidar unit, three people familiar with the discussions said. The moves provide fresh evidence of Apple's renewed ambitions to enter the autonomous vehicle derby, an effort it calls Project Titan. The talks are focused on next-generation lidar, a sensor that provides a three-dimensional look at the road. Apple is seeking lidar units that would be smaller, cheaper and more easily mass produced than current technology, the three people said. The iPhone maker is setting a high bar with demands for a "revolutionary design," one of the people familiar with...
April 18, 2019

Apple in talks with potential suppliers of sensors for self-driving cars — sources

A Tesla logo is seen on a wheel rim during the media day for the Shanghai auto show in Shanghai, China, in this recent photo. — Reuters
Tesla holdings slashed by T. Rowe Price funds in latest cuts by investor
NEW YORK — T. Rowe Price funds slashed Tesla Inc holdings in the first quarter, data showed on Wednesday, as the institutional investor continued to cut its positions in the electric vehicle maker. The firm, which has been one of the largest investors in the Silicon Valley company, sold off 92 percent of its prior holdings in the company during the quarter, Refinitiv data showed. That drop represented the funds for which Refinitiv has data, which may not include all T. Rowe Price funds, which are managed by T. Rowe Price Group Inc. Neither Tesla nor T. Rowe Price were immediately available to comment after normal business hours. The data showed sales between the end of last year and March 31 that ranged from 25 percent of holdings in the T. Rowe Price Global Growth Stock Fund to 100...
April 18, 2019

Tesla holdings slashed by T. Rowe Price funds in latest cuts by investor

The logo of Amazon is seen at the company logistics center in Boves, France, in this file photo. — Reuters
Amazon to pull plug on China retail operations: Report
SHANGHAI — Amazon plans to close down its online retail operations that cater to consumers in China in an apparent admission of defeat to local e-commerce rivals such as Alibaba and JD.com, a report said on Thursday. The US e-commerce pioneer will maintain other operations in China such as Amazon Web Services (AWS), Kindle e-books and cross-border teams that help ship goods from Chinese merchants to customers abroad, Bloomberg News said, citing unidentified people familiar with the plans. Beginning on July 18, the company's Chinese website, Amazon.cn, will featured only diminished offerings sourced from its global network, the report said. An Amazon spokesperson did not explicitly confirm plans to throw in the towel on domestic e-commerce, but said the company was looking to focus...
April 18, 2019

Amazon to pull plug on China retail operations: Report

Pakistan's finance minister Asad Umar has stepped down from Cabinet on Thursday, ahead of securing a crucial bailout deal with the International Monetary Fund.
Pakistan's finance minister steps down ahead of IMF deal
ISLAMABAD — Pakistan's finance minister Asad Umar has stepped down from Cabinet, he announced Thursday, ahead of securing a crucial bailout deal with the International Monetary Fund. Umar, one of cricketer-turned-premier Imran Khan's most powerful ministers, had been entrusted with the task of negotiating the long-delayed bailout as Pakistan's cash-strapped economy faces a balance-of-payments crisis. "As part of a Cabinet reshuffle, PM desired that I take the energy minister portfolio instead of finance," Asad Umar tweeted. "However, I have obtained his consent to not take any Cabinet position. I strongly believe @ImranKhanPTI is the best hope for Pakistan and inshAllah (God willing) will make a naya (new) pakistan," he wrote. There was no immediate...
April 18, 2019

Pakistan's finance minister steps down ahead of IMF deal

High turnout for Huawei P30 pre-order in Saudi Arabia
OVERWHELMING anticipation for Huawei P30 Series has resulted in its pre-orders recording high turnout. Much-anticipated demand for the series has contributed to its success before it reaches stores and has cemented the popularity of the P Series among users in Saudi Arabia, who seek first-hand experience of the phone’s superior features, namely the professional-grade photography and videography experience.The Huawei P30 Series is available in Huawei’s flagship store in Riyadh Park starting April 11. All KSA consumers can have a hands-on experience of its innovative features including a camera with cutting-edge Huawei SuperSpectrum Sensor and SuperZoom Lens which delivers extraordinary photography and videography experiences, in addition to advanced AI technologies, powerful performance...
April 17, 2019

High turnout for Huawei P30 pre-order in Saudi Arabia

Canon demonstrates complete end to end printing environment at Gulf Print & Pack
CANON Middle East joins Gulf Print and Pack 2019, the renowned print technology sourcing show for printers and Print Service Providers (PSPs), to showcase the company’s successful evolution over the last ten years, from introducing professional print services in 2009 to emerging as the market leader in the region in 2019.At the event, the company will highlight its extensive, and presently the largest, range of products and visionary industry-focused solutions as well as the right tools to systematically uncover the full potential of the Central Reprographic Department (CRD). Through live demonstrations of designated zones for prepress, press and post press, Canon will present the complete management of the production workflow of the printing operation of the CRD while showcasing the...
April 17, 2019

Canon demonstrates complete end to end printing environment at Gulf Print & Pack

Women's accounting leadership series tackles challenges and issues they face in their careers such as reaching decision-making roles within their organizations
IMA seeks betterment of women’s accounting leadership capabilities
By Samar YahyaRIYADH — The Institute of Management Accountants (IMA) held a Women’s Accounting Leadership Series in Crowne Plaza Hotel on Tuesday for professionals in the accounting and finance industry across the Middle East.The Women’s Accounting Leadership Series brings together female professionals working in finance and accounting and discuss the challenges and issues they face in their careers such as reaching decision-making roles within their organizations.Speaking to Saudi Gazette, Hasan Al-Bahes, president IMA Riyadh, said: “IMA Riyadh chapter, as well as IMA, support accountants and financial professionals in business through continuing education sessions, valuable information, and resources. IMA helps professionals to become Certified Management Accountants (CMA). CMA...
April 17, 2019

IMA seeks betterment of women’s accounting leadership capabilities

Saudi Exports offers scholarships to hone expertise in int’l trade
RIYADH — Saudi Exports Development Authority (Saudi Exports) launched the first phase of its Export Certification Support Program in cooperation with the International Chamber of Commerce (ICC) Academy to enhance knowledge and skills, and develop human capabilities in the exports sector.The program offers 250 training scholarships from Saudi Exports to employees of 112 national enterprises, which are either currently exporting or aspiring to export in a variety of sectors. Through this program, the staff of these companies will be able to obtain the specialized Export Import Certificate.Delivered through an e-learning platform, the certificate program offers professional development to the participants through five courses, preparing them for a competency examination that would make them...
April 17, 2019

Saudi Exports offers scholarships to hone expertise in int’l trade

NBB net profits widen to $54.3 million for the first quarter of 2019
NATIONAL Bank of Bahrain (NBB) on Wednesday announced a net profit of BHD20.4 million ($ 54.3 million) for the first quarter ended 31 March 2019, an increase of 3.6% compared to BHD19.7 million ($ 52.4 million) compared with the prior year period.Operating profit rose by 17.4% y-o-y to BHD23.6 million ($ 62.8 million) compared with BHD20.1 million ($ 53.5 million) in the prior-year period.Operating income rose by 13.6% y-o-y to BHD34.2 million ($ 91.0 million) compared with BHD30.1 million ($ 80.1 million) in the prior-year period.Net interest income increased 21.4% y-o-y to BHD23.8 million ($ 63.3 million) compared with BHD19.6 million ($ 52.1 million) in the prior-year period.Improvements were driven by prudent asset liabilities management and the acquisition of new customers from...
April 17, 2019

NBB net profits widen to $54.3 million for the first quarter of 2019





Dr. Aabed bin Abdulla Al-Saadoun
Apicorp records $182.3 million net profit in 2018, highest in its history
THE Arab Petroleum Investments Corporation (Apicorp), a multilateral development financial institution, held its 43rd General Assembly for 2019 in Muscat, Oman. The meetings were attended by the shareholders of Apicorp representing its member states, the ten Arab oil exporting countries.The net profit for the corporation in 2018 increased to $182.3 million, a 76 percent year-over-year increase and is the highest in Apicorp’s history. This was driven by returns from a capital gain of $86.7 million on the sale of Apicorp’s equity stake in National Petroleum Services (NPS) as well as remarkable growth achievements of net interest income and dividend income at 67 percent and 51 percent, respectively. Indeed, all these factors resulted in total income at $252.7 million, increasing by 78...
April 17, 2019

Apicorp records $182.3 million net profit in 2018, highest in its history

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