Dubai Islamic Bank reveals new Noor Bank board as acquisition nears

 A new interim board has been appointed for Dubai-based Noor Bank as its acquisition by Dubai Islamic Bank (DIB) gathers pace. Following approvals received from the regulators and the shareholders of Dubai Islamic Bank and Noor Bank, DIB said it is now progressing with the acquisition of Noor Bank. To ensure smooth acquisition of the transactio...

Google denies Xiaomi access over security bug

Google has revoked a Chinese tech giant's access rights after a user was able to view the feed from a stranger's security cameras on his device. A user in the Netherlands alleged that his Google Home Hub began displaying photos from unidentified locations on its smart screen when he accessed his camera, made by Xiaomi. Among the stills to appear...

Masdar to reveal expansion plans at Abu Dhabi Sustainability Week

Masdar is set to reveal further expansion plans at the 2020 edition of Abu Dhabi Sustainability Week (ADSW) next month, according to the renewable energy giant’s CEO Mohamed Jameel Al Ramahi. The Abu Dhabi-based company currently has a footprint across 25 countries and operates over 5GW in capacity. Al Ramahi told Arabian Business Central Asia...

HP Wins $439 Million as Judge Triples Jury Price-Fix Award

HP Inc. was awarded $439 million in damages against Quanta Storage Inc. and its U.S. subsidiary after a federal judge tripled a jury’s 2019 award for damages caused by a widespread scheme to inflate the price of optical disk drives. In October, a Houston jury ordered Quanta to pay HP $176 million in damages. U.S. District Judge David Hittner s...

Totok returns to Google Play Store after UAE's spyware denial

The popular UAE-developed mobile application ToTok has returned to the Google Play Store after it was removed on claims it was being used for government spying, the company said Saturday. Google and Apple removed the app from their online marketplaces last month after The New York Times reported ToTok allowed the UAE government to track the conv...

Volkswagen (VW) hit with record fine in Australia over emissions scandal

Volkswagen (VW) has been slapped with a record fine by Australia's consumer watchdog to settle lawsuits over the carmaker's global emissions scandal. The A$125m ($86m; £66m) penalty is the highest ordered by a court for breaches of Australian consumer law. VW has been hit with a flurry of legal action since 2015, when it emerged the firm had be...

Dubai Taxi Corp passes 1 billion passenger milestone

Dubai Taxi Corporation, part of the Roads and Transport Authority (RTA), has lifted more than one billion passengers since starting operations 25 years ago, it has been announced. Mattar Al Tayer, director-general and chairman of the RTA, also revealed that the number of journeys made by Dubai Taxis has reached 682 million since 1995. He said in...

West African nations rename common currency, sever its links to France

Eight West African countries Saturday agreed to change the name of their common currency to Eco and severed the CFA franc’s links to former colonial ruler France. The CFA franc was initially pegged to the French franc and has been linked to the euro for about two decades. Benin, Burkina Faso, Guinea-Bissau, Ivory Coast, Mali, Niger, Senegal an...

Jeep to unveil plug-in hybrid versions of the Wrangler, Cherokee and Compass

The Jeep Wrangler is famous for its ability to tackle brutal off-road conditions. It's also known for the fact that, generally, it doesn't change too much. Today's flat-sided Wrangler is clearly a descendant of the boxy Jeep that slogged through the battlefields of World War II. But Jeep will soon undergo one of the biggest transformations of it...

IndiGo Woes Rise as India Steps Up Scrutiny of Airbus Engines

India has stepped up scrutiny of engines on Airbus SE’s A320neo jets, forcing the country’s biggest airline, IndiGo, to have to replace more than previously estimated, a move that could further delay the budget carrier’s expansion plans. A “more intense boroscopic examination” of engines manufactured by Pratt & Whitney has identifi...

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