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CEO Alain Dehaze of Swiss Adecco Group is seen during an interview with Reuters in Zurich, Switzerland. — Reuters
Adecco chief calls for life-long learning to dodge jobs 'time bomb'
ZURICH — Companies should set up portable accounts to pay for life-long learning to help workers upgrade their skills and remain employable as robots take over more jobs, Adecco Group Chief Executive Alain Dehaze said. As increasing automation eliminates many roles, government and the private sector should work together to fill skills gaps, while workers must become more flexible, the head of the world's largest staffing services company told Reuters in an interview. "If they don't quickly reform their education system, countries will create a time bomb," said Dehaze. "They won't have the correct talent any more and companies will move away." The 55-year-old Belgian who has led Switzerland-based Adecco Group since 2015 said its customers - employers who...
November 15, 2018

Adecco chief calls for life-long learning to dodge jobs 'time bomb'

An Emirates Airbus A380-800 aircraft takes off from Manchester Airport in Britain, in this file photo. — Reuters
Emirates Airline half-year profit slides 86% on oil hike
DUBAI — Emirates Airline on Thursday posted an 86 percent drop in half-year profits as the Middle East's leading carrier was hit by a hike in oil prices and currency devaluations. The Dubai-based airline in a statement its net profit in the six months to September 30 was also impacted by other challenges and expected tough months ahead. Emirates said it recorded a profit of just $62 million in the first half of the 2018-2019 fiscal year compared with $452 million in the same period last year. "The high fuel cost as well as currency devaluations in markets like India, Brazil, Angola and Iran, wiped approximately 4.6 billion dirhams ($1.25 billion) from our profits," said Sheikh Ahmed bin Saeed Al-Maktoum, chairman and chief executive of Emirates Group. Emirates, one of...
November 15, 2018

Emirates Airline half-year profit slides 86% on oil hike

Switzerland's national flag flies under the logo of Swiss bank UBS in Zurich, Switzerland, in this file photo. — Reuters
Swiss probe banks possible collusion vs Apple, Samsung
ZURICH — Switzerland said Thursday it had opened a probe into whether major financial institutions including UBS and Credit Suisse boycotted mobile payment services offered by Apple and Samsung in favor of a domestic provider. The Swiss competition commission (COMCO) said it was investigating whether five firms colluded to boost national mobile payment system TWINT above international competitors. "There is suspicion that these institutions worked in concert to block their credit cards from working with Apple Pay and Samsung Pay in order to benefit... TWINT," COMCO said in a statement. Credit Suisse rejected the allegations. "We are surprised about this investigation and are convinced that the allegations will prove to be unfounded," the company said in a...
November 15, 2018

Swiss probe banks possible collusion vs Apple, Samsung

REAL-f Co. President Osamu Kitagawa shows off a super-realistic face mask at his factory in Otsu, western Japan. — Reuters
Face off: Realistic masks made in Japan find demand from tech, car companies
OTSU, Japan, — Super-realistic face masks made by a tiny company in rural Japan are in demand from the domestic tech and entertainment industries and from countries as far away as Saudi Arabia. The 300,000-yen ($2,650) masks, made of resin and plastic by five employees at REAL-f Co., attempt to accurately duplicate an individual's face down to fine wrinkles and skin texture. Company founder Osamu Kitagawa came up with the idea while working at a printing machine manufacturer. But it took him two years of experimentation before he found a way to use three-dimensional facial data from high quality photographs to make the masks, and started selling them in 2011. The company, based in the western prefecture of Shiga, receives about 100 orders every year from entertainment,...
November 15, 2018

Face off: Realistic masks made in Japan find demand from tech, car companies

Global oil market faces surplus throughout ’19 as demand slows: IEA
LONDON — Global oil supply will outpace demand throughout 2019, as a relentless rise in output swamps growth in consumption that is at risk from a slowing economy, the International Energy Agency said on Wednesday.In its monthly report the Paris-based IEA left its forecast for global demand growth for 2018 and 2019 unchanged from last month at 1.3 million barrels per day (bpd) and 1.4 million bpd, respectively, but cut its forecast for non-OECD demand growth, the engine of expansion in world oil consumption.“In 1H19, based on our outlook for non-OPEC production and global demand, and assuming flat OPEC production ... the implied stock build is currently 2 million bpd,” the IEA said.Output around the world has swelled since the middle of the year, while an escalating trade dispute...
November 14, 2018

Global oil market faces surplus throughout ’19 as demand slows: IEA

Premier Li Keqiang
China seeks open world economy
SINGAPORE/MANILA — China will further open its economy in the face of rising protectionism, Premier Li Keqiang said as he arrived in Singapore on Monday for meetings with Asia-Pacific leaders that will focus on speeding up work on a major new trade pact.Li’s remarks in an article in Singapore’s Straits Times newspaper came as Singapore’s Prime Minister Lee Hsien Loong called for more regional integration, saying multilateralism was under threat from political pressures.“China has opened its door to the world; we will never close it but open it even wider,” Li said in the article, in which he called for an “open world economy” in the face of “rising protectionism and unilateralism”. He did not directly refer to China’s bruising trade war with the US. Notably absent...
November 14, 2018

China seeks open world economy

From left:  Malaysia's Prime Minister Mahathir Mohamad, Myanmar State Counsellor Aung San Suu Kyi, Vietnam's Prime Minister Nguyen Xuan Phuc, International Monetary Fund (IMF) chief Christine Lagarde, Canada's Prime Minister Justin Trudeau, Singapore's Prime Minister Lee Hsien Loong, Chile President Sebastian Pinera, Thai Prime Minister Prayut Chan-O-Cha, Brunei Sultan Hassanal Bolkiah, Cambodian Prime Minister Hun Sen and Indonesia's President Joko Widodo pose for a group photo before the start a working lunch on the sidelines of the 33rd Association of Southeast Asian Nations (ASEAN) summit in Singapore on Nov. 14, 2018. — AFP
IMF chief sees case for central bank digital currency
SINGAPORE — With growing innovation in the financial sector and a move towards a cash-less society, there is a role for central banks to enter the world of digital currencies, IMF chief Christine Lagarde said Wednesday.Unlike private currencies like bitcoin and ethereum, money created by central banks would be regulated and trustworthy, and could reach all sectors of society, Lagarde said in a speech prepared for the Singapore Fintech Festival.“The key is to harness the benefits while managing the risks,” Lagarde said. “Proper regulation of these entities will remain a pillar of trust.”However, while central banks in several countries are considering e-money, questions remain about whether it makes sense for every country.There “may be a role for the state to supply money to...
November 14, 2018

IMF chief sees case for central bank digital currency

Air Arabia A320
Air Arabia net profit in 9 months surges
AIR Arabia, the first and largest low-cost carrier (LCC) in the Middle East and North Africa, announced Wednesday its financial results for the nine months ending September 30, 2018, demonstrating high levels of profitability and solid operational metrics.During the first nine months of 2018, Air Arabia registered a turnover of AED3 billion, 8 percent increase compared to AED2.8 billion registered during the same period last year. Net profit for the first nine months of this year stood at AED530 million, 17 percent lower than the net profits recorded for the corresponding period in 2017. Air Arabia’s robust financial performance was recorded despite the strong impact of high oil price and currency devaluation on the industry’s bottom line. More than 6.6 million passenger flew with the...
November 14, 2018

Air Arabia net profit in 9 months surges

Surface Go
Microsoft’s ‘hyper-portable, ultra-affordable’ Surface Go now available in Saudi Arabia
MICROSOFT on Wednesday announced the general availability of the Surface Go – the smallest, lightest, most affordable Surface device to date – in Saudi Arabia.Weighing only 1.15 pounds and carrying a vibrant 10-inch display, the Surface Go delivers the versatility and portability of a tablet together with the performance of a laptop, all in a single, compact device. It empowers people to stay connected, pursue their passions and tackle their side projects, without compromising on the performance or quality.The Surface Go is a new entry point for users – a productivity powerhouse, driven by the might of a 7th-generation Intel Pentium Gold Processor 4415Y, in a fan-less design, and capable of delivering up to nine hours of battery life. For the family at home or on the move; the expert...
November 14, 2018

Microsoft’s ‘hyper-portable, ultra-affordable’ Surface Go now available in Saudi Arabia

Tony Douglas, Group Chief Executive Officer of Etihad Aviation Group, and  Krešimir Kučko, Chief Executive Officer of Gulf Air, sign the MoU
Gulf Air and Etihad Airways explore greater cooperation
GULF Air, the national carrier of the Kingdom of Bahrain, and Etihad Airways, the national airline of the United Arab Emirates, are set to explore deeper cooperation following the signing of a Memorandum of Understanding (MOU) at the Bahrain International Airshow.The wide-ranging MOU covers scope to introduce joint codeshare operations between Abu Dhabi and Manama, as well as on the global flight networks beyond the two carriers’ GCC hubs. The MOU also contains plans for greater commercial cooperation in the fields of cargo, engineering, guest experience and the optimisation of pilot training facilities.The MOU was signed on the first day of the Bahrain International Airshow, currently taking place at the Sakhir Airbase, by Tony Douglas, Group Chief Executive Officer of Etihad Aviation...
November 14, 2018

Gulf Air and Etihad Airways explore greater cooperation

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