Hazim Anzawi NOBs حازم عنزاوي

CITRIX Cloud Networking Event (@Abu Dhabi, Crown Plaza Yas Island, Tue June 05)

2012-05-27T12:10:00.001+04:00

Agenda:

09:00 - 09:30	Registration
09:30 - 10:15	Citrix - Introducing New Citrix Cloud Networking Platform - Clinton O' Leary - Citrix
10:15 - 11:00	NetScaler 10, featuring TriScale™ Jason Poole - Citrix
11:15 - 11:45	Coffee Break
11:45 - 12:45	NetScaler Use Cases : Reshma Naik - Citrix • Web Application Acceleration • NetScaler as a load balancer • Web application Security • SQL Load Balancing • NetScaler for Microsoft environments • A Bridge to the Cloud
12:45 - 13:00	Closing Remarks and Questions
13:00 - 14:00	Lunch

India may bar Europe carriers in climate tax row

2012-05-26T17:51:00.000+04:00

A passenger plane prepares to land at London's Heathrow airport in 2010

AFP/File - Leon Neal

India said it may stop European carriers from flying into the country if the European Union bans airlines from the South Asian nation that boycott the EU's new emissions fee system.

"We will take retaliatory actions to counter steps taken by the EU. If Europe bans our carriers we will ban theirs as well," the senior government official, who did not want to be named, told reporters late Friday.

The EU in mid-May gave India and China a month to comply with the airline carbon emissions fee system across the 27-nation bloc, or face penalties for flights into and out of Europe.

EU Commissioner for Climate Change Connie Hedegaard said all EU airlines and "nearly all" world airlines had agreed to hand over emissions data required under the controversial carbon levy that took effect on January 1.

"There has been a very, very high level of compliance... the only exception is Chinese and Indian carriers," she said earlier this month.

While some 1,200 airlines have complied with the EU requirements, eight Chinese and two Indian airlines representing less than three percent of aviation emissions in the bloc have refused.

India and China have attacked the EU scheme, calling it a unilateral trade levy disguised as an attempt to fight climate change. India in April barred its airlines from complying with the EU carbon fee, joining China in resistance.

The EU says the tax aims to help it achieve a goal of cutting emissions by 20 percent by 2020 and has said no airline will face a bill until 2013 after this year's carbon emissions have been tallied.

It says the cost for the airlines is manageable, calculating that the scheme could force the carriers to add between 4.0 euros ($5.00) and 24 euros to the price of a long-haul round-trip.

European authorities have warned that the Chinese and Indian carriers could face penalties if they fail to submit data by an extended deadline of June 15.

European authorities said that, as a final measure, banning repeat offenders could be considered.

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Absinthe 2.0 has arrived!

2012-05-25T19:59:00.000+04:00

After copious amounts of work and many sleepless nights Absinthe 2.0 is finally here to jailbreak your device. This release has been a large collaborative effort between Chronic-Dev Team and iPhone Dev Teams (Jailbreak Dream Team)

This jailbreak supports firmware 5.1.1 ONLY and is again one of the most easiest jailbreaks to use (so easy your grandma could do it ;D)

Press release: http://conference.hitb.org/hitbsecconf2012ams/ios-jailbreak-dream-team-releases-absinthe-2-0-ios-5-1-1-jailbreak/

Absinthe 2.0 supports the following devices:

iPad1,1 – 2,1 – 2,2 – 2,3 – 3,1 – 3,2 – 3,3

iPhone2,1 – 3,1 – 3,3 – 4,1

iPod3,1 – 4,1

(Support for iPad2,4 will be added at a later date)

How To Use Absinthe 2.0 (if you're unjailbroken):

1. Make a backup of your device in iTunes by right clicking on your device name under the 'Devices' menu and click 'Back Up'.

2. Once your backup is complete return to your device and go to Settings – General – Reset – Erase all Content and Settings. This will make the jailbreak process much faster.

3. Open Absinthe and be sure you are still connected via USB cable to your computer.

4. Click 'Jailbreak' and wait…. just be patient and do not disconnect your device.

5. Once jailbroken return to iTunes and restore your backup from earlier. Right click on your device name under the 'Devices' menu in the left panel of iTunes and click 'Restore from Back Up…' then select the latest backup you created before. (restoring this backup will return all the content previously on your device ie, apps, photos, etc.)

6. Thanks for using Absinthe, enjoy your jailbroken iDevice!

How To Untether 5.1.1 (if you're already jailbroken):

Just search for and install "Rocky Racoon 5.1.1 Untether" from Cydia.

Download Links

Absinthe2.0 MacOSX (10.5, 10.6, 10.7)

Absinthe2.0 Windows (XP/Vista/Win7)

Absinthe2.0 Linux (x86/x86_64)

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New Orleans newspaper to end daily publication

2012-05-25T14:56:00.000+04:00

Visitors tour front pages from The Times-Picayune newspaper in New Orleans as part of an exhibit at the Newseum in 2010

AFP/File - Saul Loeb

The Times-Picayune, the largest newspaper in New Orleans, said Thursday it would end daily print publication, moving to a schedule of three issues per week, to adapt to "an increasingly digital age."

The move creates a new company called the NOLA Media Group which will "significantly increase its online news-gathering efforts 24 hours a day, seven days a week, while offering enhanced printed newspapers on a schedule of three days a week," a statement from the daily said.

"The change is intended to reshape how the New Orleans area's dominant news organization delivers its award-winning local news, sports and entertainment coverage in an increasingly digital age."

The newspaper, which traces its history to 1837, will be home-delivered and sold in stores on Wednesdays, Fridays and Sundays.

The decision signals a change in the way news is delivered to "an increasingly wired New Orleans area audience," the company said.

"I believe moving to a stronger digital focus positions the new company to continue to serve the needs of our various communities," said the publisher of The Times-Picayune, Ashton Phelps.

The changes will begin later this year.

"We will continue our 175-year commitment to covering the communities we serve," editor Jim Amoss said.

"We will deliver our journalism in print, through NOLA.com and on our mobile platforms 24 hours a day, 7 days a week, and we invite our readers to become a part of the conversation."

US newspapers have been grappling with a steep drop in print advertising revenue, steadily declining circulation and the migration of readers to free news online. But more newspapers are developing models for paid online subscriptions or apps for tablets or phones.

A recent survey showed nearly one of seven newspapers read in the United States is now a digital one.

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Dell profit plunges on disappointing sales

2012-05-23T01:02:00.000+04:00

Dell says the firm is moving away from its traditional PC base to services

AFP/Getty Images/File - Justin Sullivan

US computer maker Dell on Tuesday reported a 33 percent drop in profits in a disappointing quarterly report for former market leader.

The company, which has slipped to third place in the global PC market, said its profit in the first fiscal quarter fell to $635 million.

Revenue in the quarter was $14.4 billion, a four percent decrease from the same period the previous year.

Dell said however the firm was moving away from its traditional PC base to services.

"We continued to shift the mix of our business during a challenging environment," said Brian Gladden, Dell's chief financial officer.

"Our enterprise solutions and services businesses now account for 50 percent of our gross margin, and we'll continue to make the necessary investments to maintain our progress."

Texas-based Dell, once the biggest PC maker, has fallen to third place behind market leader Hewlett-Packard and Lenovo, and is just barely ahead of fourth place Acer Group.

Dell last month said it was buying Wyse Technology to expand its business offerings in the Internet "cloud" in the face of softening demand for traditional computing hardware.

Last year, Dell said it would halt sales of its Android tablet computer in the US market, failing to gain traction against rivals such as Amazon's Kindle Fire and Apple's iPad.

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Facebook shares pummeled again

2012-05-23T00:59:00.000+04:00

Facebook shares sank further even as US markets pushed higher

AFP/File - Kimihiro Hoshino

Facebook shares sank further Tuesday even as US markets pushed higher, as analysts blasted underwriters and the company for getting greedy in the most-awaited IPO in years.

On the second full day of trade after its much-anticipated Friday debut, the shares were at $32.25, down 5.1 percent from Monday's close and 15.1 percent lower than the IPO price of $38.00.

In early trade the shares fell as low as $30.98 before regaining some of Tuesday's lost ground.

The sell-off wiped off more than $15 billion from the $104 billion valuation the company earned in the initial public offering on Friday.

"They issued too many shares and the market wasn't ready to absorb them, that's all there is to it. The market isn't ready to absorb it," said Michael Pachter of Wedbush Securities.

The second-largest US initial public offering took off promisingly Friday as shares rose to $45 at one point.

But hours into trade the underwriters were forced to step in to prevent them from dropping below the IPO price. They ended with just a modest 23 cent gain for the day.

On Monday and Tuesday the backers could not hold off the flood of selling pressure, and the shares tumbled again.

The sell-off sparked more finger pointing and anger from those who had expected the price to zoom to massive gains like the immediate doubling of career-oriented social network LinkedIn's IPO price last year.

"Investors are searching for someone to blame and there are plenty of suspects," said Paul Ausick at 24/7Wall St.

Analysts blamed especially lead underwriter Morgan Stanley for allowing Facebook last week to increase the price and the offering size to 421 million shares, raising $16 billion.

"The underwriters placed the stocks with people who really were not that committed to owning it, and so a lot of them sold it," said Pachter.

"They sent us false signals by adding 84 million shares to the offering on Wednesday, so right before they went public," he said. "They were wrong, they completely blew it."

But Lou Kerner, founder of the Social Internet Fund, blamed a "perfect storm" of several events: the announcement by General Motors days ahead of the IPO that it saw little use in advertising on Facebook; the Nasdaq market's problems processing Facebook orders when trade opened Friday; and Morgan Stanley's own cut of its forecasts for Facebook.

"So you had a lot of things coming at once and happening either on the day of the IPO or just prior to the IPO that I think had a real negative impact," Kerner said.

But also underpinning the price fall has been the realization by many that there are real outstanding questions about Facebook's revenue-generating potential, and that its advertising business remains a work in progress.

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"We do believe that the company still faces near-term challenges. Slowdown in revenue growth and declines in operating margins may further pressure the stock price," said Rick Summer of Morningstar.

Facebook itself also came in for some hits for being greedy in the IPO, which came at a time in which markets were generally skittish over more turmoil in the eurozone and Greece's possible withdrawal from the euro.

"The company on its roadshow did not do a very convincing job... of making investors believe that they were going to act in their best interest," said Pachter.

Although conclusion was that the issue was overpriced was widespread, analysts were less willing to predict the direction of trade after Tuesday's fall.

"The downward move in the stock price has been swift, but predicting short-term swings is truly a challenge," said Summer.

"I think if you look forward six, 12 months, the trading of the shares today -- the first few days after the IPO -- it's really just going to be noise," said Kerner.

"The main thing that Facebook should do is focus on execution, which they've done a great job of during their entire lifetime."

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Hundreds arrested at 'Blockupy Frankfurt' protests

2012-05-19T06:20:00.000+04:00

A group of demonstrators block a street as the police try to carry away Occupy activists in Frankfurt Main

AFP/DPA - Boris Roessler

Police arrested more than 400 people in Frankfurt on Friday as thousands of anti-capitalist protesters defied a protest ban in Germany's financial centre.

A group calling itself "Blockupy Frankfurt" had called for four days of protests, from Wednesday to Saturday, to paralyse Germany's financial capital and hinder the work of private banks and the European Central Bank.

But the financial institutions reported little disruption. Many were closed for a public holiday Thursday and the banks were protected by a strong police presence.

Several protests took place Friday outside the ECB's huge Eurotower building in Frankfurt, as well as in the city centre, a police spokeswoman said.

Police said most demonstrations passed calmly, while some activists claimed those who had been arrested were left for hours in police buses.

The city's mayor banned most demonstrations over public order concerns, though protesters have been given permission to march on Saturday.

Demonstrators hailed their action a success, with "Blockupy" spokesman Erik Buhn telling German television channel Phoenix: "We have revitalised civil disobedience."

Since Wednesday, about 5,000 police have been constantly deployed in Frankfurt and several streets were eerily quiet Friday after metro stations were closed and shops barricaded.

On Wednesday, police cleared out a group of protesters from the "Indignant" movement who had camped for seven months in front of the ECB.

"Blockupy" activists hope tens of thousands of demonstrators will show up on Saturday.

Commerzbank, one of Germany's top banks, which occupies one of the biggest skyscrapers in Frankfurt, has said it would close until Sunday.

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Buffett makes big bet on small newspapers

2012-05-17T21:51:00.000+04:00

Berkshire Hathaway Chairman and CEO Warren Buffett is pictured in 2011

AFP/Getty Images/File - Mario Tama

Billionaire Warren Buffett's holding company unveiled plans Thursday to pour millions into a chain of small newspapers, saying they represent "an important institution" for communities.

A subsidiary of Buffett's Berkshire Hathaway, BH Media Group, will purchase all of the newspapers owned by Media General, with the exception of the Tampa group, for $142 million in cash, a statement said.

Media General said it is in discussions with other prospective buyers for the Tampa unit.

Berkshire Hathaway will also provide Media General with a $400 million loan and a $45 million revolving credit line, to pay off existing debt.

The newspapers being purchased by BH Media Group include 63 daily and weekly titles in Virginia, North Carolina, South Carolina and Alabama, in addition to digital assets, including websites and mobile and tablet applications.

"In towns and cities where there is a strong sense of community, there is no more important institution than the local paper," said Warren Buffett, chairman of Berkshire Hathaway.

"The many locales served by the newspapers we are acquiring fall firmly in this mould and we are delighted they have found a permanent home with Berkshire Hathaway."

Buffett, whose choices are often followed by the investment community, made the decision at a time when traditional newspapers are struggling with the move to digital media. He also has a stake in the Washington Post and other media.

The Media General newspapers will be part of BH Media Group, along with the Omaha World-Herald Company newspapers.

Marshall Morton, president and chief executive officer of Media General, said, "Selling our newspapers represents a monumental change for us. We're very happy that our newspapers will become part of Berkshire Hathaway's BH Media Group, a company with a strong commitment to local news leadership and community engagement."

The newspaper transaction is expected to close on June 25. A transition will take place over several months, in coordination with Media General personnel.

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Facebook may be economic, jobs driver

2012-05-17T21:49:00.000+04:00

Some studies suggest Facebook, which makes no tangible products, is driving economic activity

AFP/File - Brendan Smialowski

Out of thin air, Facebook is evolving into a global driver of jobs and economic growth.

But how big is the impact? That's a matter of much debate.

The social networking giant set to launch a massive public offering this week has spawned dozens of startups and thousands of apps that aim to get access to Facebook's 900 million users.

Some studies suggest Facebook, which makes no tangible products and has only begun to use its potential as a marketing and advertising platform, is driving economic activity.

A University of Maryland study released last year concluded the "Facebook App Economy" added at least 182,000 new jobs and contributed more than $12.19 billion in wages and benefits to the US economy last year.

Study authors Il-Horn Hann and Siva Viswanathan told AFP the impact would probably be greater now, since Facebook has added 150 million members since last year.

While Facebook itself employs some 3,500 people, it has integrated with more than 2.5 million websites, and people on Facebook install 20 million apps every day such as games like Farmville and music apps like Spotify, the study showed

It has spawned firms like Zygna, the game maker which employs nearly 3,000 and launched its own IPO last year, and has led to a new industry of consultants who find ways to use the platform.

Facebook thus creates jobs among app developers, and the spending from employees at both app developers and their suppliers leads to more jobs, with the so-called "multiplier" effect.

A Foodspotting representative demonstrates the company's app for Facebook

AFP/File - Kimihiro Hoshino

Other startups riding Facebook's coattails include Wildfire Interactive, which helps advertisers use the platform; RootMusic, which helps recording artists create fan pages; the travel service Gogobot; the e-commerce group Payvment; and Rotten Tomatoes, where fans discuss movies.

The Maryland study, which was funded by Facebook but whose conclusions were reached independently, found the Facebook "ecosystem" supports at least 18 times more jobs in the United States than Facebook itself.

A separate Deloitte LLP report prepared for Facebook in January concluded that the company has a broad impact in Europe.

The report said revenues "enabled" by Facebook in Europe amount to 32 billion euros ($41.5 billion), which "converts to an economic impact of 15.3 billion euros ($20 billion) and supports 232,000 jobs."

Economist Joel Naroff of Naroff Economic Advisors said Facebook can only add value to the economy if it creates new efficiencies.

"There is only so much money, so if Facebook is getting the money, someone else is not getting the money," Naroff said.

Though Facebook and other social media groups are making money and hiring people, "a lot of newspapers are going under or they are laying off people."

"Facebook is an advertising company," says Naroff, who argues that social media "are replacing the printed media and to some extent television and radio."

Hann said the Maryland study intended to determine the number of net jobs gained but that it is hard to prove these don't take away jobs from another sector or firm.

"We feel very confident there are a lot of jobs being created and they are new, but this is something that is always being argued about," he told AFP.

Viswanathan said Facebook does lead to economic efficiencies by transmitting information and advertising in a better way. But he said by providing a so-called "platform," companies like Google and Facebook also allow other firms to create value.

"They don't have to do all the innovations themselves, but they provide a platform for millions of apps which create innovations," he said.

Kobo representatives talk to technology reporters about the company's new application for Facebook's Timeline

AFP/File - Kimihiro Hoshino

Nariman Behravesh, chief economist at IHS, said there is likely a net jobs gain from Facebook "but the gains aren't huge."

"A lot of the Facebook activity almost by definition is noneconomic -- it's families keeping in touch, people keeping track of their high school buddies. We can't put a market price on it."

Behravesh said it is harder to calculate an economic value to Facebook than Apple, for example, which manufactures products, operates retails shops and delivers apps and other programs than can improve productivity.

"I think the reason the IPO is valued so high that you have such a huge audience and you can market to them, and you can slice and dice and market to them," he said.

Carey Leahey, economist at Decision Economics, said Facebook's value comes from what is being perceived as an innovation for marketing.

"You can't call it labor, you can't call it capital, but if it creates a way for firms to interact more directly with their customer base, it's intangible but it's an improvement," Leahey said.

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GM to pull ads from Facebook

2012-05-16T10:23:00.000+04:00

General Motors has confirmed that it is pulling its advertising from Facebook

AFP - Karen Bleier

General Motors has confirmed that it is pulling its advertising from Facebook after determining that paid ads had little impact on consumers.

GM has been spending about $10 million on paid advertising and $30 million on unpaid marketing on Facebook.

"We are reassessing our Facebook advertising, but we remain committed to very aggressive social media strategies and will continue to push content on Facebook through our product and brand Facebook pages," said GM spokesman Patrick Morrissey.

The news comes at a bad time for Facebook, which is expected to launch an initial public stock offering on Friday valuing the social networking site at around $100 billion.

The rise of an Internet giant

AFP/Graphic

GM's pullback comes as other marketers are questioning the value of paid ads on Facebook despite the vast amounts of time huge numbers of consumers spend on the site.

The US auto giant is the third-largest advertiser in the United States with expenditures of $1.8 billion in 2011, according to Kantar Media.

It will continue to expand its use of unpaid marketing such as the creation and management of content on the Facebook pages of its brands and cars, according to Morrissey.

While Facebook and Google both have broad reach, ads posted on the search giant's websites are 10 times more likely to be clicked than those on the social network, according to online marketing specialty company WordStream.

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WordStream gave Google top grades for performance of its display ad network while it found Facebook in need of improvement.

"So far, Facebook's advertising platform hasn't kept pace with the explosive growth of its social network, and it remains to be seen if CEO Mark Zuckerberg even wants to focus on advertising as a source of revenue," said WordStream chief technical officer Larry Kim.

"In his 2,500-plus word letter to (prospective) shareholders this month, he mentioned advertising just once."

Google offers twice as many advertising formats as Facebook, including ads in videos and mobile games, according to WordStream.

The General Motors headquarters in Detroit, Michigan

AFP/File - Stan Honda

"The comparison suggests that Google currently offers advertisers more value in terms of both options and results for advertisers, and that Facebook has a lot of catching up to do," WordStream said.

Facebook has yet to support advertising on smartphones or tablet computers that have become popular social networking tools, and has more limited ad targeting options than Google, the analysis concluded.

"As good as Facebook has been at evolving to serve consumers, that's how bad it's been at serving marketers," Forrester analysts Nate Elliott and Melissa Parrish said in a blog post.

Facebook will price its initial public offering (IPO) from $34 to $38 per share

AFP/File - Joel Saget

"Somehow Facebook still hasn't stumbled upon a model that's proven consistently successful for marketers, or that brings in the massive revenues to match the site's massive user base."

Facebook shortcomings at making money appeared not to be dousing passion for owning the company's stock.

Facebook on Tuesday raised the price range of shares to $34 to $38 in a move that could value it at more than $100 billion when it starts trading on the Nasdaq exchange.

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Oil prices slide as dollar strengthens

2012-05-15T00:07:00.000+04:00

New York's main contract West Texas Intermediate crude for delivery in June was down $1.52 at $94.61 a barrel

AFP/Tullow Oil/File

Oil prices slumped on Monday, with New York crude striking five-month lows, as the dollar strengthened against the euro on mounting worries over Europe's debt crisis, traders said.

New York's main contract West Texas Intermediate crude for delivery in June was down $1.52 at $94.61 a barrel. Earlier Monday it hit $93.65 -- the lowest point since mid-December.

Brent North Sea crude for June was down $1.27 at $110.99 a barrel in late London deals having reached a near four-month low of $110.04 earlier on Monday.

Oil futures retreated as the euro tumbled to its lowest point against the dollar since January, as Greek politicians failed again to form a government over the weekend, again throwing into doubt the future of the eurozone.

The European single currency on Monday dived as low as $1.2830, the lowest point since January 18. It later recovered to stand at $1.2845, down from $1.2917 late in New York on Friday.

A stronger US currency makes dollar-denominated oil more expensive for buyers using the euro, denting demand for crude.

"Due to the lack of US economic data today, currency movements could offer some further direction to the oil market which looks fairly vulnerable at the moment," said Sucden brokers analyst Myrto Sokou.

Greece on Monday faced the prospect of fresh polls after political parties failed to narrow divisions over a painful EU-IMF bailout deal, with few expecting progress at talks to form a government.

Meetings hosted by President Carolos Papoulias resume at 1630 GMT as eurozone finance ministers gather in Brussels where officials insist Greece must stick to tough austerity measures in return for the debt rescue.

If Athens does not, and the debt accord lapses, it appears increasingly that eurozone leaders are prepared for Greece to leave the 17-nation bloc despite fears that that outcome could destabilise the whole euro project.

Oil market sentiment was also weighed down by a Saudi call for crude prices to fall further.

"We need to get prices at a level around $100. Now, it is still high," Saudi oil minister Ali al-Naimi was quoted as saying on Sunday by Dow Jones Newswires.

He was referring directly to Brent crude, the most widely traded oil contract worldwide.

Speaking to reporters in Australia, al-Naimi added that global crude stocks were likely to increase ahead of an anticipated seasonal rebound in demand starting from July.

"It is very important to recognise that supply today is 1.3 million to 1.5 million barrels per day over demand, which is good. It is going into inventory and bringing inventory up -- that should give comfort to consuming countries," al-Naimi said.

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Bio-Diesel project presented to H.H.SHK Sultan Al Qasemi by Jehad - AlShola school (University of Sharjah) Science Exhibition

2012-05-11T18:32:00.000+04:00

مشروع الوقود الحيوي تقدمة الطالب جهاد من مدرسة الشعلة الخاصة للشيخ سلطان القاسمي ضمن فعاليات معرض العلوم جامعة الشارقة

JPMorgan reveals shock losses

2012-05-11T11:28:00.000+04:00

JPMorgan in shock $2 billion loss on derivatives

NEW YORK (AFP) - ١١‏/٥‏/٢٠١٢ ٧:١٥ ص

US banking giant JPMorgan Chase says it lost $2 billion on derivatives since March

AFP/Getty Images/File - Chris Hondros

US banking giant JPMorgan Chase said it had lost $2 billion on derivatives since March in what chief executive Jamie Dimon called a "flawed" and "poorly executed" hedging operation.

In an unscheduled conference call, Dimon also said the bank could face another $1 billion in losses through the end of June due to market volatility.

"It could easily get worse this quarter," he told analysts and journalists.

The shock loss came over the past six weeks in the New York bank's risk management unit, the Chief Investment Office, and involved trading in credit default swaps, a so-called "synthetic hedge."

The CIO trades bank assets with the aim of hedging against other risks the bank takes on its assets and investments.

But Dimon called the CIO's strategy "poorly reviewed, complex, poorly executed."

JPMorgan Chase chief executive Jamie Dimon

AFP/Getty Images/File - Mario Tama

"These were egregious mistakes," Dimon said. "They were self-inflicted and this is not how we want to run a business."

JPMorgan shares fell 6.7 percent to $38.00 in after-hours trade, pulling down the shares of other banks with it.

The losses are a humiliation for Dimon -- one of Wall Street's best known titans -- and for the bank, after it proudly came through the 2008 financial crisis in far better shape than its rivals.

Then, the collapse of the market in mortgage derivatives punched a giant hole in banks' balance sheets and plunged the world's largest economy into the worst recession in a generation, costing millions of jobs.

As recently as last month, JPMorgan executives told investors they were "very comfortable" with positions held by the bank, raising questions about how much was known by senior management and when.

But Dimon downplayed the reports by the Wall Street Journal last month that a powerful London-based JPMorgan trader, nicknamed "The London Whale," was behind huge losses in the company's derivatives trading.

The losses he reported Thursday only had "a little bit to do with the article in the press," he said, branding much of the reports "speculation."

JPMorgan shares fell 6.7 percent to $38.00 in after-hours trade, pulling down the shares of other banks with it

AFP/File - Emmanuel Dunand

He did not say if any heads would roll in the debacle, but said "all appropriate corrective actions" will be taken "as necessary."

The losses came as a part of normal operations that were not well-conceived or supervised, according to Dimon.

In the bank's 10-Q quarterly report to the Securities and Exchange Commission, published just before the call, the bank admitted to "significant mark-to-market losses in its synthetic credit portfolio" since March 31.

"This portfolio has proven to be riskier, more volatile and less effective as an economic hedge than the firm previously believed," it said.

The revelation came as Dimon has been leading a charge against new rules aimed at preventing banks from incurring massive losses in their own trading operations.

Dimon has labeled the "Volcker Rule," which will ban banks from many kinds of often lucrative proprietary trading, as unnecessary and said it will actually hamper banks.

In the call Thursday, he lamented that the losses would feed into criticism of the bank and his position on the proposed regulations.

But he said the CIO trading was not what would be covered by the rule.

"This trading does not violate the Volcker rule, but it violates the Dimon principle," he said.

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Emirates profit slumps 72% as fuel bill surges

2012-05-11T00:04:00.000+04:00

Emirates Airline, the Arab world's largest carrier, posted a 72.1 percent slump in net profit in 2011, as its fuel bill surged 44.4 percent to US$ 6.6bn, the Dubai carrier announced on Thursday.

Despite profits tumbling to AED1.5bn (US$409m), the Dubai flag carrier marked its 24th consecutive year in the black.

Revenue reached a record high of AED62.3bn (US$17bn), up 14.9 percent year-on-year, but was dented by rising fuel costs, which saw its fuel bill surge 44.4 percent to AED24.3bn (US$6.6bn).

"While fuel costs will be a challenge again this year, Emirates can enjoy the fact that it has fuel saving Airbus A380s and Boeing 777-300ERs to be introduced to its fleet and as the airline expands, particularly across cash-rich cities in the USA like Dallas and Washington, they'll be able to further drive not just their revenue growth, but harness greater economies of scale through a more efficient distribution of their fleet on their network. That'll offset some of the expected price rises in fuel and suppress the immediate need for fuel surcharge increases," said Saj Ahmad, chief analyst at StrategicAero Research.

"That said, Emirates performance and massive group revenue growth, augmented by its near US$5bn cash balance puts the airline far and away in a better position than any other airline in the world."

Emirates Group as a whole posted a net profit of AED2.3bn (US$629m), with dnata, the aviation services division, posting its most successful year since it was set up 52 years ago.

With an increase of 58.9 percent over last year, dnata saw revenue rise to AED7bn (US$1.9bn). Overall profit for dnata also reached its highest ever point at AED808m (US$220m). This was on the back of operating costs rising 58.9 percent to AED6.2bn (US$1.7bn).

"Throughout the 2011-12 financial year the Group has collectively invested close to AED14bn (US$ 3.8bn) in new products," said HH Sheikh Ahmed bin Saeed Al Maktoum, chairman and CEO of Emirates Airline and Group.

This investment has garnered new customers and increased our international presence," he added.

During the year, the carrier added 22 new aircraft, its highest in any single year and added 11 new cities to its global reach.

Analysis showed no one region of the world contributed more than 30 percent of overall revenue, with East Asia and Australasia remaining the highest revenue contributing, up 17.6 percent to AED18.2bn (US$5bn).

Europe revenue rose 18.2 percent to AED17.1bn (US$4.6bn) and the Americas was up 21.3 percent to AED6.7bn (US$1.8bn).

Across the rest of the globe Emirates saw strong revenue from West Asia and the Indian Ocean rise 10.6 percent to AED7.1bn (US$1.9bn), the Gulf, Middle East and Iran was up 15.1 percent to AED6.3bn (US$1.7bn) and Africa generated AED6.1bn (US$1.7bn) in revenue, up 9.5 percent.

The airline carried a total of 34m passengers, an increase of eight percent, with passenger yield increasing 7.8 percent to 30.5 fils (8.3 US cents) per Revenue Passenger Kilometre (RPKM), up from 28.3 fils (7.7 US cents) a year ago.

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Du lauds successful 100G transmission trials

2012-05-10T13:12:00.001+04:00

UAE telco Du has completed a 100 Gigabit transmission per wavelength trial with Huawei on its Optical Transport Network (OTN).

The telco said that the successful trial was "a first on optical coherent networks", the current bandwidth of which is 10/40G per wavelength. Du is also the only operator in the Middle East to complete these trials on a live network, it said in a statement.

In total, 700km of fibre was tested, split into two routes of 200km and 500km.

The 100G enhancement will allow services to be transmitted at a higher rate over a longer distance, either within the UAE or to connect with other countries. This increased bandwidth will also help Du's network handle increases in internet and mobile broadband use.

"There are operators in Europe who have done this test over a live, long distance network, but so far we are the first to do so in the region," said Hatem Bamatraf, executive VP- network development and operations, Du. "By upgrading to 100G per wavelength we will add further value to our network, increasing and optimising the use of our bandwidth to cope with the increase of high capacity rate (to be transported over Terabits) services, such as the internet and Du TV, giving our customers a seamless experience no matter which of our services they use."

Lv Jun, GM of Huawei UAE, added: "This trial's success will further build on that vision by opening up the pathway to more advanced trials and future network deployments."

In March, Du said that it had hired Cisco to deploy a nationwide LTE network.

In July last year, Saudi Arabian operator Mobily said that it was testing a "superfast" 100-Gigabit broadband service in Jeddah.

Oil prices drop further amid eurozone tensions

2012-05-09T19:05:00.000+04:00

Crude oil prices also came under pressure after Saudi Arabia said on Tuesday that it could increase its output

AFP/File - Kjetil Alsvik

Oil prices fell further on Wednesday in line with shares amid tensions over the eurozone's political and economic problems, although bargain-hunting provided support, analysts said.

Crude futures also faced downside pressure following indications by the world's key oil producers that they may boost output to bring prices down to sustainable levels.

New York's main contract, West Texas Intermediate (WTI) crude for delivery in June, dropped 51 cents to $96.50 a barrel, two days after hitting a near-five month low at $95.34.

Brent North Sea crude for June shed 63 cents to $112.10 a barrel in London midday deals, one day after striking a four-month low at $110.53.

"Oil prices are holding relatively steady as we are seeing a fair bit of investor bargain-hunting in the crude market," said Victor Shum, an analyst at Purvin and Gertz international energy consultants.

"But there remains considerable uncertainty about the eurozone's debt problems and politics," added the Singapore-based expert.

Investor concerns about the repercussions of weekend elections in Greece were heightened after the head of the country's left-wing Syriza party said his cabinet would reject all austerity measures imposed under an EU-IMF loan deal, if he forms a new government.

The events in Greece and France -- where Socialist Francois Hollande won Sunday's presidential election -- have stoked anxiety about the eurozone's tough fiscal pact adopted in March to deal with a crippling debt crisis.

Investors were also watching the working relationship between the newly elected Hollande and Chancellor Angela Merkel, the leader of Europe's economic powerhouse Germany.

Merkel and outgoing French leader Nicolas Sarkozy played crucial roles in dealing with the eurozone crisis.

"While Mr Hollande's victory in the French presidential elections was in line with expectations, his relationship with Germany's chancellor remains untested," Barclays Bank said in a report.

Crude was also under pressure from indications that Saudi Arabia, the world's top oil producer, could increase its output as it fears that if they remain unsustainably high demand -- and prices -- will fall.

Singapore Airlines full-year net profit down 69%

2012-05-09T19:04:00.000+04:00

A Singapore Airlines Boeing 747 at the Singapore Airshow in February

AFP/File - Roslan Rahman

Singapore Airlines' full-year profit slumped 69 percent year-on-year after a fourth-quarter loss due to high oil prices and global economic uncertainty, the leading Asian carrier said Wednesday.

Net profit for the year to March plunged to Sg$336 million ($268 million) on group revenues of Sg$14.86 billion, the carrier reported in a statement.

In the fourth quarter, the airline said it suffered a net loss of Sg$38.2 million, down from a profit of Sg$171 million in the same period a year ago.

It was the third quarterly loss in the history of the company, which is also facing stiff competition from other premium carriers from the oil-rich Middle East as well as from the growing ranks of budget carriers.

"Fuel prices are expected to remain at high levels, which will adversely impact the group's operating performance," the airline said.

Jet fuel prices rose 32 percent year-on-year. About 40 percent of SIA's revenue for the financial year was spent on fuel, it said.

SIA was also hampered by its exposure to European and US markets, where travellers are cutting back due to economic headwinds from the eurozone debt crisis as well as persistent worries over America's economic recovery.

Brendan Sobie, a Singapore-based analyst with the consultancy Centre for Aviation, said SIA was not alone as it grappled with challenges before the aviation industry.

The airline said some 40 percent of its revenue for the financial year was spent on fuel

AFP - Roslan Rahman

"The market is very challenging right now and really has been for some time. It came out of the downturn that we saw in 2009 but it's been pretty challenging for several years really," he told AFP.

Other regional airlines were also struggling, he said, noting that Hong Kong flag carrier Cathay Pacific had just put out a profit warning, saying it expects "disappointing" 2012 first half results.

SIA's new budget long-haul budget offshoot Scoot -- which will embark on its maiden flight in June -- will likely offer little financial relief, Sobie said.

"In this new fiscal year you have all the start up costs for Scoot and you have what at least initially will be a small operation," he said.

While it remained in the black for the full year, SIA faces formidable challenges due to continued high oil prices and slackening travel demand in Europe and the US.

SIA suffered its first ever quarterly loss in the three months to June 2003 after a health scare caused by the flu-like Severe Acute Respiratory Syndrome (SARS) sent global travel demand reeling.

The carrier's second quarterly loss came six years later in June 2009 when demand was hit by a global financial crisis that followed the collapse of US bank Lehman Brothers.

Saudi's prince's Rotana to move to Bahrain: report

2012-05-09T18:59:00.001+04:00

Saudi billionaire owner of Kingdom Holding Company Prince Alwaleed bin Talal

AFP/File - Fayez Nureldine

Saudi tycoon Prince Alwaleed bin Talal has signed agreements with Bahrain to move his Rotana news and entertainment company from Cairo to the protest-hit Gulf state, the official BNA agency said on Wednesday.

The move comes as Prince Alwaleed plans to launch 24-hour news channel, Alarab in the first half of 2013 to compete with Al-Jazeera, Al-Arabiya and the newly-launched Sky News Arabia satellite news channels.

Prince Alwaleed said shifting Rotana to Manama from Cairo and selecting the Gulf state's capital as the headquarters of his Alarab news channel is an "important strategic decision with many important consequences."

The move comes after thorough studies of several Arab capitals and cities, he said.

Bahrain is enjoying considerable freedom of expression and wide-open dialogue despite attempts by a minority to prove the opposite, the prince was quoted as saying by BNA in an apparent reference to anti-government protests.

The small Gulf state has been hit by Shiite-led demonstrations since February last year, which have been violently crushed by Manama, drawing criticism from international rights groups.

Alarab news channel will be added to the basket of Rotana's 12 channels, which include LBC and FOX group. News Corp owns 20 percent of Rotana media group.

Alarab channel was scheduled to be launched this year but has been delayed for unknown reasons.

The news channel will compete with Doha-based Al-Jazeera, the Saudi-owned Al-Arabiya, based in Dubai, and the new Sky News Arabia, based in Abu Dhabi which went on air on Sunday.

Tech Mahindra & Mahindra Satyam and CA Technologies Enter into Global Partnership

2012-05-09T15:36:00.001+04:00

Hyderabad, India - April 24, 2012: Tech Mahindra and Mahindra Satyam today announced that they have signed a Global Framework Agreement (GFA) with CA Technologies, a global IT management and security software and solutions company aimed at building a business model where shared and managed services can be provided to new and existing customers through a joint and strategic approach. Tech Mahindra and Mahindra Satyam have set up Mahindra CA Research centre at Pune. This centre will enable co-innovation and delivery of our joint offerings.

In this unique arrangement, Mahindra Satyam, Tech Mahindra and CA Technologies will offer application performance management, test automation, content aware security and MSP offerings. Through the agreement, they will develop innovative and differentiated joint offerings for Telco, Manufacturing, BFSI and Healthcare verticals.

"It is a moment of pride for me as two majors of the IT industry partner to offer superior service offerings for our joint customers. This relationship will provide a platform to co-invest in creating business solutions together to meet next generation needs of global CxOs. This arrangement is closely aligned with our strategy of building an ecosystem of like minded partners", said CP.Gurnani, CEO, Mahindra Satyam.

Mahindra Satyam, Tech Mahindra and CA Technologies have been working together since 2010 to explore joint opportunities and market expansion. This agreement will open up many opportunities for CA Technologies, Tech Mahindra and Mahindra Satyam to provide customers with innovative solutions that reflect the evolution of their business models.

"Innovation and meeting market needs through strong partnerships are at the core of CA Technologies growth strategy," said Bill McCracken, CEO, CA Technologies. "As we continue to grow in the global market, our partnership with Tech Mahindra and Mahindra Satyam enables us to address the ever changing needs within the IT landscape through a combined, broad solution and services portfolio."

Tech Mahindra and Mahindra Satyam, together with CA Technologies, are already providing turnkey cloud computing services based on CA Technologies tools. This agreement further creates a growth engine that will make a viable and successful business model to respond to the needs of the market at competitive prices.

About Mahindra Satyam

Mahindra Satyam is a leading global business and information technology services company that leverages deep industry and functional expertise, leading technology practices, and an advanced, global delivery model to help clients transform their highest-value business processes and improve their business performance. The company's professionals excel in enterprise solutions, supply chain management, client relationship management, business intelligence, business process quality, engineering and product lifecycle management, and infrastructure services, among other key capabilities.

Mahindra Satyam is part of the $14.4 billion Mahindra Group, a global federation of companies and one of the top 10 business houses based in India. The group focuses on enabling people to rise. Mahindra operates in the key industries that drive economic growth, enjoying a leadership position in tractors, utility vehicles, information technology, vacation ownership, rural and semi-urban financial services, etc. Mahindra has a significant and growing presence amongst others, in the automotive industry, agribusiness, aerospace, automotive components, consulting services, defence, energy, industrial equipment, logistics, real estate, retail, steel and two wheelers.

Mahindra Satyam development and delivery centers in the US, Canada, Brazil, the UK, Hungary, Egypt, UAE, India, China, Malaysia, Singapore, and Australia serve numerous clients, including many Fortune 500 organizations.

For more information, see
www.mahindrasatyam.com

Follow us on Twitter:
http://twitter.com/mahindra_satyam

For clarifications, write to us at: MediaRelations@mahindrasatyam.com

About Tech Mahindra

Tech Mahindra is a leading provider of solutions and services to the telecommunications industry with a majority stake owned by Mahindra & Mahindra Limited, in partnership with British Telecommunications plc. Tech Mahindra serves telecom service providers, equipment manufacturers, software vendors and systems integrators worldwide and their proven delivery models, distinctive IT skills and decades of domain expertise enable clients to maximize returns on their IT investment.

Tech Mahindra registered revenue of USD 1,127 million in the year ended March 31, 2011 and is ably supported by 42,500 professionals who provide a unique blend of culture, domain expertise and in-depth technology skill-sets.

A SEI-CMMi Level 5 organization, Tech Mahindra's development centers are ISO 9001:2008 and BS7799 certified. Tech Mahindra has principal offices in the UK, United States, Germany, UAE, Egypt, Singapore, India, Thailand, Taiwan, Malaysia, Philippines, Canada and Australia. Tech Mahindra Ltd is part of the US $14.4 billion Mahindra Group, a global industrial federation of companies and one of the top 10 business houses based in India. The Group's interests span automotive products, aviation, components, farm equipment, financial services, hospitality, information technology, logistics, real estate and retail.

For more information please refer to the website: www.techmahindra.com

About CA Technologies

CA Technologies (NASDAQ: CA) is an IT management software and solutions company with expertise across all IT environments – from mainframe and distributed, to virtual and cloud. CA Technologies manages and secures IT environments and enables customers to deliver more flexible IT services. CA Technologies innovative products and services provide the insight and control essential for IT organizations to power business agility. The majority of the Global Fortune 500 relies on CA Technologies to manage evolving IT ecosystems. For additional information, visit CA Technologies at www.ca.com.

الإنفاق على السياحة الداخلية السعودية يرتفع إلى 5ر84 مليار ريال

2012-05-06T17:23:00.000+04:00

الرياض في 6 مايو /وام/ أظهرت إحصائيات رسمية سعودية أن حجم الإنفاق على
السياحة الداخلية في السعودية ارتفع العام الماضي بنسبة 5ر13 في المائة
مقارنة بالعام 2010 ليصل إلى 5ر84 مليار ريال.
ووفق التقرير الاحصائي لمؤشرات قطاع السياحة في السعودية لعام 2011 الذي
أصدرته الهيئة اليوم فقد بلغ عدد الزوار المحليين للمناطق السعودية
36ر23 مليون سائح أنفقوا 845ر 35 مليار ريال مقارنة بنحو 219ر 23 مليون
خلال العام 2010 أنفقوا 324 ر 31 مليار ريال.
واشار التقرير إلى أن توقعات إجمالي الوظائف في قطاع السياحة العام
الماضي ستصل الى أكثر من 670 ألف وظيفة مرتفعة من أكثر من 629 ألف وظيفة
مرجحا أن يبلغ عدد الوظائف المشغولة بسعوديين نحو 177 ألفا مقابل 129
ألفا بزيادة قدرها 4ر37 في المائة.
وذكر التقرير أن نسبة الوظائف السياحية الى اجمالي العاملين في السعودية
ارتفعت إلى 8 في المائة العام الماضي مقابل 9.7 في المائة العام 2010 .
وبشأن مساهمة السياحة في الناتج المحلي الاجمالي كشف التقرير عن مساهمة
السياحة بنسبة 1ر3 في المائة خلال العام 2011 في حين بلغت نسبتها للناتج
المحلي غير النفطي 2ر7 في المائة موضحا أن القيمة المضافة من خدمات
الايواء ستصل الى5ر12 مليار ريال خلال عام 2011 بزيادة 1ر7 في المائة عن
العام 2010 .

WORLD EXCLUSIVE: Selling Emirates Airline could “make sense” – vice chairman

2012-05-06T16:40:00.001+04:00

Sir Maurice Flanagan, executive vice chairman and one of the founders of Emirates Airline, has revealed that "it would make sense" to sell the airline in the future, in order to help service Dubai's mountain of debt. Experts estimates that such a sale would generate up to US$11bn.

"I wouldn't like to see it happen," Flanagan said when asked if the airline, the largest in the region and one of Dubai's most prized assets, would ever be sold. However, he conceded it had not been ruled out as a source of revenue to help finance Dubai's debts, estimated by the IMF to be around $109bn.

"I don't think it is being seriously thought of, but the time might come when it would make sense to do that," Flanagan added, in an interview to be published in Arabian Business next Sunday.

When asked who potential buyers would be, he said: "It would depend on which markets it is opened to."

Saj Ahmad, chief analyst at StrategicAero Research, said such a sale would generate a lot of interest and could result in a payday of up to US$11bn for Emirates' owners.

"Emirates would be valued somewhere between $9bn-$11bn at today's prices, based largely on its widebody dominated fleet and its burgeoning net cash assets that amount to over $4bn," Ahmad said.

"Selling even a fraction of it would reel in a significant windfall… clearly, many banks, large institutional investors and hedge funds would line up round the block to own a slice of Emirates - but they are in for a long and painful wait. Emirates asset value is probably the strongest of any airline in the world and is now more sought after than at any time since the carrier started operations in 1985."

Flanagan was one of the principle founders of the airline when it was established with $10m in capital from the Dubai government.

"I was given US$10m by Sheikh Mohammad in 1985 and told don't come back for any more or subsidy of any kind or protection of any kind," Flanagan recalled.

While profit for the six months to Sept 30, 2011, fell 76 percent to $225m, as rising cost fuel costs and regional unrest squeezed margins, revenue was up 15 percent to $8.17bn.

Despite Dubai's debt problems, which has seen it restructure over US$100bn owed to creditors and banks, Flanagan said Emirates has never had any issues getting financing and it has always received a favourable response from banks and investors.

"We have never had any trouble getting finance or getting a bond oversubscribed. Six times that last one was oversubscribed, which shows what the market thinks of us," he said.

Emirates will issue its latest half year financial later this week.

*The full exclusive interview with Sir Maurice Flanagan will be published by Arabian Business on Sunday, May 13.

How much is a recipe worth? About US$1.8 million وصفة كلفتها ١.٨ مليون دولار

2012-05-05T14:30:00.001+04:00

May 3, 2012 -- How much is a recipe worth? About US$1.8 million, according to the owner of the Kay Lee Roast Meat Joint in Singapore. That's the premium placed on the sale price of her 60-seat diner.

US jobs data sends oil price tumbling

2012-05-05T01:44:00.001+04:00

Brent North Sea crude for delivery in June tumbled as low as $111.76 per barrel in afternoon trade

AFP/File - Natalia Kolesnikova

Oil prices dropped sharply Friday after traders took disappointing US jobs data as a sign of more slow growth to come in the US economy.

The US benchmark West Texas Intermediate crude for June delivery sank $4.05 dollars from Thursday's close to end at $98.49 a barrel, the lowest level since February 6.

London's main contract, Brent North Sea for June, lost $2.90 dollars a barrel to $113.18, its lowest level since February 2.

Traders pointed to the jobs data release in the morning, which showed the US economy generating only 115,000 net new positions last month, less than half the level of the first two months of the year.

The figure came in well below forecasts, and was barely at the level needed to match the normal growth of the working population, much less reduce the 12.5 million people unemployed.

The data also showed many tens of thousands of American had dropped out of the jobs market altogether -- another sign suggesting that household income and spending would continue to be weak.

"The really weak jobs data... raises concerns for the economy and for petroleum consumption," said James Williams of WTRG Economics.

With tensions over Iran appearing to lessen, and US oil stocks extremely high, Williams said oil prices had already been on edge.

"The data is triggering concerns about the overall economy, and historically, anytime the economy is weak, oil prices collapse.

Android expenses questioned at Oracle copyright trial

2012-05-05T01:41:00.000+04:00

A reporter uses a cell phone to take a photograph of Google Android 3.0 Honeycomb OS

AFP/Getty Images/File - Justin Sullivan

Jurors on Thursday continued to weigh whether Android infringed on Java copyrights as the trial judge ordered Google to clarify how much money has been made or lost on the mobile gadget software.

The order in the case pitting Internet titan Google against business software giant Oracle came after the judge fielded a question from the jury, which began deliberations on Monday in San Francisco federal court.

With the jury out of the courtroom, Oracle lawyers challenged a Google document indicating that Android expenses more than wiped out the "product contribution" to revenue through 2010 and well into 2011.

"We are talking about huge numbers here," US District Court Judge William Alsup said while considering whether jurors should be able to rely on the document in the event of a damages phase to the trial.

"If the jury finds liability, $600 million could turn on whether the jury believes these numbers are good."

Alsup gave Google until Monday to provide reliable accounting paperwork itemizing how Android profit-and-loss figures were calculated and wanted the person handling the numbers deposed.

"If that was the way it was done in the actual course of business, fine, that can go before the jury," Alsup said of the financial figures.

If it is shown Android has been a money loser for Google, there would be no profits to "disgorge" as demanded by Oracle, the judge noted.

The trial is being conducted in separate phases to address copyright and then patent infringement accusations by Oracle. The patent portion is to begin on Monday, unless the jury has not finished deliberations regarding copyright.

Oracle is accusing Google of infringing on Java computer programming language patents and copyrights Oracle obtained when it bought Java inventor Sun Microsystems in a $7.4 billion deal brokered in 2009.

Google has denied the claims and said it believes mobile phone makers and other users of its open-source Android operating system are entitled to use the Java technology in dispute.

Google unveiled the free Android operating system two years before Oracle bought Sun.

Protecting and profiting from Java software technology were prime reasons for Oracle's decision in 2009 to buy Sun, according to evidence presented at trial.

Part of the Google defense is that Oracle couldn't figure out a way into the smartphone market so is trying to leech off of Android's success by pressing claims regarding Java software that Sun made publicly available.

Apple iPad outmuscles Android in global tablet sales

2012-05-04T02:51:00.001+04:00

Apple's iPad outmuscled its Android-powered tablet computer rivals in early 2012

Apple's iPad outmuscled its Android-powered tablet computer rivals in early 2012, in a global market suffering from post-holiday hangover, a survey showed Thursday.

Global shipments of tablet devices and e-readers slumped 38.4 percent in the first three months of 2012 to 17.4 million, compared with a fourth quarter pumped up by the holiday gift-giving season, according to research firm IDC.

But year-over-year, tablet sales were up a whopping 120 percent, in a market shifting away from desktop and laptop computers.

"Apple reasserted its dominance in the market this quarter, driving huge shipment totals at a time when all but a few Android vendors saw their numbers drop precipitously after posting big gains during the holiday buying season," said Tom Mainelli of IDC.

"Apple's move to position the iPad as an all-purpose tablet, instead of just a content consumption device, is resonating with consumers as well as educational and commercial buyers. And its decision to keep a lower-priced iPad 2 in the market after it launched the new iPad in March seems to be paying off as well."

Apple shipped 11.8 million iPads during the quarter, down from 15.4 million units in the fourth quarter of 2011, as its worldwide share rose to 68 percent from 54.7 percent.

Amazon saw a precipitous drop to four percent of the market, compared with 16.8 percent in the fourth quarter, and slipped to third place overall.

Samsung jumped ahead of Amazon to second place overall while Lenovo vaulted into the number four spot, followed by Barnes & Noble's Nook at number five.

Although total Android shipments were down sharply in the quarter, IDC said it sees a rebound with companies such as Samsung and Lenovo beginning to gain traction with new products.

"It seems some of the mainstream Android vendors are finally beginning to grasp a fact that Amazon, B&N, and Pandigital figured out early on: Namely, to compete in the media tablet market with Apple, they must offer their products at notably lower price points," Mainelli said.

"We expect a new, larger-screened device from Amazon at a typically aggressive price point, and Google will enter the market with an inexpensive, co-branded ASUS tablet designed to compete directly on price with Amazon's Kindle Fire."

The impact of Microsoft Windows 8- and Windows RT-based tablets, which are widely expected to ship into the market by the fourth quarter, is not yet clear, IDC said.

"The worldwide tablet market is entering a new phase in the second half of 2012 that will undoubtedly reshape the competitive landscape," said IDC's Bob O'Donnell.

"While Apple will continue to sit comfortably on the top for now, the battle for the next several positions is going to be fierce. Throw in Ultrabooks, the launch of Windows 8, and a few surprise product launches, and you have all the makings of an incredible 2012 holiday shopping season."