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Author Archives: Mahroz Sab

Airbus Group to sell part of Dassault Aviation back to French planemaker

PARIS: Airbus Group sells 8 percent of Dassault Aviation back to the French planemaker in a deal value 794 million euros (632.10 million pounds) on Friday. Airbus Group sold the shares for 980 euros each, or a 9.2 percent discount to the Friday closing price of 1,079 euros. The companies said the move will result in a net reduction of ... Read More »

Russia’s Meshkov advises EU to lift sanctions against Moscow over Ukrainian conflict

MOSCOW: Alexei Meshkov Russian Deputy Foreign Minister advised the European Union to lift sanctions against Moscow over the Ukrainian conflict and promised to waive its counter measures. In August Moscow banned most Western food imports, worth $9 billion a year, in response to U.S. and European Union sanctions over Russia’s role in Ukraine. Meshkov said we do not expect anything ... Read More »

Mercedes to unveil two AMG Sport models at 2015 Detroit Auto Show

DETROIT: Mercedes Benz establishing a new product line name ‘AMG Sport’ the new product line will offer the AMG Sports package for Mercedes Benz vehicles and the classic AMG models. Chairman Mercedes Benz said that the first two AMG Sport models will be unveiled by the automaker at the 2015 Detroit Auto Show. The two models will be based on ... Read More »

Researchers invent photonic radiative cooling system to beat summer heat

CALIFORNIA: Stanford University in California researchers formulate a new solution to help building residents feel cool during hot days, they invent a super thin multilayer material, which reduces heat in summer. The engineers call this system “photonic radiative cooling.” It offloads infrared heat and reflects sunlight from buildings. Study co-author Shanhui Fan, an electrical engineer at Stanford, said that the ... Read More »

US Sterling to creep higher against euro weaker

LONDON: Sterling Rose Consulting Corporation creep higher against a euro weaker and events in the euro zone were likely to dominate trade thinned out. Mario Draghi President European Central Bank speaks on Thursday, a day after Vice President Vitor Constancio said the ECB could make a decision on government bond-buying in the first quarter if the economy did not improve. ... Read More »

Japan to launch six-year asteroid mission

TOKYO: Japan to launch a space probe on a six year mission after the event was postponed due to bad weather. Japan Aerospace Exploration Agency said that Hayabusa2 is now programmed to blast off aboard Japan’s main H-IIA rocket from Tanegashima Space Center is expected to reach the asteroid in mid 2018 and will spend around 18 months studying the ... Read More »

Sony unveils E-Paper Smartwatch experiment

TOKYO: Sony unveils the Fes Watch running on an e-paper display and new device offers a substitute to LCD displays on smartwatches. Sony has tried to keep the announcement low key, starting with a crowd funding effort in Japan, which raised $30,000. Sony said that they used the spinoff company to guess real interest in this type of product. Crowdfunding ... Read More »

Researchers at Washington University invent 3D, LED eye lens

WASHINGTON: University of Washington Researchers creates a contact lens with an LED display the contact lens device has only a single pixel of information. The researchers said that it could be developed to display more complex information such as emails, just one third of a millimeter in diameter. The prototype for the 3D printer costs about $20,000 to create meaning ... Read More »

After Black Friday, support emerges for Small Business Saturday

NORTHAMPTON: Black Friday shopping we are here in Northampton there are lots of small local businesses while supporting your local businesses Saturday is the day to get it done. Small Business Saturday is a fairly new holiday. It started in 2010 by American Express. The idea was to help small retailers during the recession. The US Small Business Administration estimated ... Read More »

Apple iPhone wins ‘phone of the awards’

LONDON: Apple’s iPhone wins phone of the year award and gadget of the year by Pocket lint technology and gadget site. This was the 11th year of the awards, and the first time iPhone had picked up the best phone gong, beating the HTC One (M8) to the prize. The panel of industry expert judges, technology journalists and the public ... Read More »

Germany approves Blackberry’s Secusmart encryption technology to protect top politians

BARLIN: Germany approved plan to gain Blackberry’s Secusmart, the encryption technology, which is used to protect the mobile devices of top politicians. Chief Executive John Chen’s said that deal is part of new effort to improve Blackberry’s appeal for security conscious clients. The issue was mainly sensitive in Germany that U.S. intelligence agencies had listened in on phone conversations. Chancellor ... Read More »

London’s Songbird says property markets now worth $4.42b, more than takeover offer from QIA, BPY.N

LONDON: London’s Canary Wharf Songbird Estates (SBDE.L) said an improvement in property markets means it is now worth 2.82 billion pounds ($4.42 billion), more than the takeover offer from Qatar Investment Authority (QIA) and Brookfield Property Partners (BPY.N). QIA already has a 28.6 percent stake in a company and that rejected an initial approach on Nov. 7 from QIA and ... Read More »

Europe’s biggest insurer Allianz close to sell Fireman’s Fund

FRANKFURT: The Europe’s biggest insurer Allianz is close to selling a US insurer, the personal insurance business of Fireman’s Fund, the German company bought in 1991. Ace and AmTrust were not immediately available for comment. Allianz and AIG refused to comment on the matter. Further the German insurer started a major revamp of Fireman’s Fund this year. It said in ... Read More »

German’s E.ON to sell 80% stake in US wind farms to Canada’s Enbridge

FRANKFURT: E.ON the German utility agrees to sell 80 percent stake in two wind farms in the United States to Canada’s Enbridge. E.ON said the deal gives the two wind farms with a combined capacity of 505 megawatt (MW) an enterprise value of about $650 million. Vern Yu Senior Vice-President of Corporate Development for Enbridge said this strategic investment provides ... Read More »

Syrian Electronic Army hacks UK’s Independent newspaper

LONDON: Syrian Electronic Army hacker group hacked UK newspaper websites Independent and news website. Pro Assad hacker group ia hacking the sites to show messages which they claim as the responsibility to attack. The Syrian Electronic Army is a group of hackers who support the Assad regime in Syria. Users attempt to the site saw a notification saying “You’ve been ... Read More »

Europe’s Allianz close to sell Fireman’s Fund

FRANKFURT: The Europe’s biggest insurer Allianz is close to selling a US insurer, the personal insurance business of Fireman’s Fund, the German company bought in 1991. Ace and AmTrust were not immediately available for comment. Allianz and AIG refused to comment on the matter. Further the German insurer started a major revamp of Fireman’s Fund this year. It said in ... Read More »

Blackrock to lower stake to 4.9% in Banco Popolare

MILAN: Blackrock U.S. investment firm lowered its stake in Italian cooperative bank Banco Popolare, according to a regulatory filing on Friday. This showed a holding of 4.91 percent as of Nov. 21. The filing by market regulator Consob said BlackRock owned 6.85 percent of Banco Popolare as of March 31. Read More »

US Medtronic wins EU approval for takeover of $43 billion Covidien Public

BRUSSELS: Medtronic US medical device maker gained European Union regulatory approval for its $43 billion takeover of Covidien Public after agreeing to sell its Irish rival’s drug-coated balloon catheter business. Medtronic, US authorities cleared the takeover earlier this week with the same condition. The deal will put Medtronic on about the same footing as global leader Johnson & Johnson and take it a ... Read More »

German’s Merck KGaA aims to generate $1 billion sale

LONDON: The German drugs and chemicals company Merck KGaA aims to keep hold its consumers healthcare unit and promising to develop a business to generate $1 billion sale in 2014. Chief executive of Merck Consumer Health Uta Kemmerich-Keil said we really want to stick to that business, during a media briefing in London highlighting the unit’s strengths. Our plan is a ... Read More »

Thailand Motor Expo to introduce new generation cars

BANGKOK: The Thailand Motor Expo, which began today, several new models introduce to both the local and regional automotive scene. In the Thailand market Subaru launched the Outback while, Mercedes, MG, Nissan, Honda, Mitsubishi, Proton and Mazda previewed their new offerings. Other car manufacturers included Mini, BMW and Porsche. Mitsubishi Triton picks up truck, Honda HR-V, Nissan X-Trail, Mazda 2, ... Read More »