ArabianBusiness.com - Middle East Business News
Tuesday, 9 February 2010

BLOGS

by elsa on Monday, 8 February 2010 at 03:25 UAE time.

Our robotic friend Ibn Sina has popped up again, this time on board a flight to Riyadh. If you don’t remember him, he’s the world’s first Arabic speaking humaoid robot who wowed the crowds at last year’s Gitex.

This time he impressed Emirates’ customers and cabin crew when he took a first class flight to the Saudi capital city, along with his creator Dr Nikolaos Mavridis, assistant professor of computer science at the UAE University College of Information Technology in Al Ain.

Ibn Sina had to be cleared for travel by Dubai Police Authorities, the Dubai International Airport and the Emirates’ safety team.

“The planning and integration of numerous Emirates departments is testament to our commitment to give every passenger, human or not, the best level of care and service possible,” said Mohammed Mattar, divisional senior vice president, airport operations.

Here are some photos of the man himself.

ibnsina1ibnsina2

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by Neeraj Gangal on Tuesday, 2 February 2010 at 05:35 UAE time.

My bank surely interrupted my blissful siesta this weekend. But rather than cribbing over my lost sleep, I’m tempted to thank it for opening my eyes to a stark threat.

“Please do not click or respond to emails asking for account, card or internet banking details,” my bank messaged me on my mobile phone.

“Our bank will NEVER ask for such info.”

No, this is not just another annoying junk text sent by the bank as part of an aggressive marketing campaign. This is really serious stuff.

According to a report prepared by the UAE Telecommunications Regulatory Authority’s Computer Emergency Response Team (aeCERT), in 2009 the UAE IT infrastructure witnessed 51 cases of e-crime incidents.

A TRA official said last month that one of the most growing cyber attacks on a global scale last year included “Phishing Emails”.

“Phishing is typically carried out by e-mail or instant messaging. People receiving phishing emails will be asked to update their profiles including usernames and passwords by providing a link to the fake bank website. Once a user clicks on the link provided by the phishing email, he or she is directed to a website, much similar to their banks’ website, which from many cannot be detected as a fraud site. Once the information is updated by the user, hackers get immediate access to their online banking accounts,” the TRA website warns.

And this is why the SMS alert from our bank matters – if the custodians of our precious hard-earned money are asking us to stay extra-alert – we should. If we naively respond to some innocuous-looking mail popping into our Inbox and then lose all our fortune, we would be in no position to blame it on our bank.

The TRA has urged users to be vigilant and exercise intense caution at all times.

“Cyber hackers sending and using phishing emails relay mostly on deceiving the user. However banks offering online banking and financial services are investing heavily in securing their ICT infrastructure to prevent hacking of any kind,” the TRA claims.

While the bank does its crackdown, here are ten things the online-banking user can do:

1.         Activate your mobile banking alerts - to be sent after each transaction. This way, you can revert back to the bank immediately in case any unauthorised transaction has been processed through your account.

2.         Make sure your computer is equipped with firewalls, anti-virus and anti-spyware softwares.

3.         Avoid accessing your online banking accounts from cybercafés or public places including your offices.

4.         Do not leave your computers or laptops unattended while you are in the account. (most of the banks automatically sign you out if your account is idle for around 20 minutes)

5.         Do not open/ download mails or attachments from unknown email addresses.

6.         In case you have the habit of visiting your spam mails to ensure that communications from your acquaintances are not diverted there, ignore other spam mails – your email service provider has already qualified them aside as a threat.

7.         Do not visit any pornographic websites – apart from being illegal in the UAE, they are also dangerous and insecure from online safety point of view.

8.         Do not place any crucial/ sensitive information on your shared folders.

9.         Set a complicated password – which has not been used for any other online account before.

10.        Importantly, in case you want to enter your online banking account, do not do so through any email you receive from the bank. Do so from a fresh tab or a fresh browser by entering the bank’s main website first. Remember the SMS from the bank - “Please do not click or respond to emails asking for account, card or internet banking details. The bank will NEVER ask for such info.”

In case you suspect a serious fraud in your online account – immediately call the bank’s call centre, report the unauthorised transaction (preferably visit the bank personally as soon as possible to file a written complaint), withdraw as much money as you can at that point of time, reset your online account password immediately (or perhaps ask your bank to deactivate the online accounts), freeze any other accounts with the bank in case the bank officers suggest, and go to the police if the matter involves huge amount of money. Meanwhile, the bank’s anti-fraud cell will investigate the matter.

If you are fortunate, the bank (or the police) might be able to retrieve all your money. But if not…?

Now that a really scary thought.

I hope you understand why I want to thank my bank for disturbing my siesta.

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by elsa on Monday, 1 February 2010 at 09:57 UAE time.

Last week we reported the construction firm Worley Parsons Arabia was the fastest growing company in Saudi Arabia.

The full list of 100 top emerging firms was released by the Saudi Arabian General Investment Authority (SAGIA) at the annual Global Competitiveness Forum in Riyadh.

Here’s a list of the top 10 in case you missed it.

1. Worley Parsons Arabia, construction, SR200-500m

2. Full Stop, public relations, SR10-50m

3. SecuTronic, telecoms, SR10-50m

4. IT Security Training and Solutions, telecoms, SR50-200m

5. Construction Building Co, construction, SR50-200m

6. Intercontinental Travel Co, tourism, SR10-50m

7. Tamkeen Industrial & Trading, science and tech services, SR10-50m

8. Brains, construction, SR10-50m

9. Advanced Communications Electronics Systems, telecoms, SR200-500m

10. Alcantara Group, telecoms, SR10-50m

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by Neeraj Gangal on Thursday, 28 January 2010 at 03:26 UAE time.

If statistics often tell a story, here’s an interesting one.

A recently conducted survey revealed that as much as 68 percent of Dubai’s households feel that they have been negatively impacted by the financial crisis. [click to read]

But if this data has led you to believe that most of the city’s residents have consciously shunned their habits of lavish spending; then you are grossly mistaken.

Dubai residents have refused to dramatically alter their spending habits in the wake of the downturn, according to another survey. In a poll of 400 Dubai residents with a minimum household income of AED3,000 ($815), 58.8 percent said they did not reduce their spending on groceries in 2009 and 64 percent of respondents said they had not cut down on personal travel last year. [click to read]

Yet, what is slightly concerning is this forecast: more than 80 percent of people who took part in a recent poll think that the job market has not turned a corner and started to improve with the beginning of the New Year. [click to read]

Of course, not all of those polled above have been equally (and acutely) hit by the effects of the economic crisis. But if one is to read the results of the three surveys in the same breath, it does suggest the need for some financial introspection.

At a time when most individuals are reeling under the effects of salary freezes (not to forget the rising inflation, the battered bourses and unfriendly banking policies), what if there was a ‘smart’ way in which we could bypass/ sever our financial destinies from the actions of our governments, corporates or stock markets?

Perhaps the basic, age-old way would still prove ’smart’ - one which calls for discipline, patience, sacrifice and hard work – how about managing our personal finances based on two principles – frugal living and wise investing?

Before one could confuse frugality with austerity or view it as a shameful compromise, Amy Dacyczyn’s observations in her bestseller, ‘The Complete Tightwad Gazette’ might help dispel such myopic notions.

“Frugality is viewed by many as a necessary evil, something to be employed only when there are no good alternatives. It’s that kind of thinking that causes us to throw away so many exciting opportunities to live bigger and bolder and better,” Dacyczyn said.

“Frugality is not something you turn to when you are blocked into a corner. It is something you embrace when you have a vision of a better life that you want to see brought to fruition before the sand runs out of the hourglass.”

Dacyczyn’s hit the nail on the head. So many people ‘earn’ so much of money only to realise one day that they haven’t really ‘accumulated’ enough.

Let’s not be one of them. What do you say?

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by elsa on Monday, 25 January 2010 at 02:41 UAE time.

terryschocThe days of when a card and a box of chocs was enough to woo your husband or wife with on Valentine’s Day seem to be numbered. Especially with news of Emirates Palace’s $1million holiday package for lovebirds.

The deal includes first class flights on Etihad from any international destination, a seven night stay at the hotel in a Palace Suite with a butler on hand 24 hours a day, as well as a chauffeur driven Maybach at your daily disposal.

A range of activities will be organised, within the million dollar budget, like a private helicopter ride, a round of golf on the Abu Dhabi course, or a lesson in how to make your own perfume.

According to the hotel it is home to “royalty, celebrities and global discerning travellers” which is obvious considering the price tag. It certainly rules out the likes of the AB.com team. Our loved ones will have to settle for a box of Terry’s All Gold.

Who said romance was dead?

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