Industry & Trade
Mahathir Mohamed: Sukuk Failed in Malaysia
Published 2013-05-19 15:05:08| Islam Moatasem
The Former Malaysian Prime Minister, Mahathir Mohamed, said that the Sukuk (Islamic Bonds) didn't succeed in Malaysia due to the low incomes of the Muslims in Malaysia, as well as remove any suspicion of usury and to commit to the Islam's principles.
Mahathir, during his speech in "Experiments Renaissance" conference that organized by the Freedom and Justice Party (FJP), said Egypt is facing triple challenges and problems than that were existed in Malaysia before achieving renaissance, because the population in Egypt is triple. But Egypt has capabilities for achieving real renaissance. Mahatir also referred that the Egyptian government should provide job opportunities for the youth and decrease the poverty rates and unemployment as well; stressing that this is the biggest challenge for the Egyptian government now.
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Tech news
Omantel, the pioneer provider of total communications solutions in the Sultanate of Oman, on Saturday announced that it inked an agreement for another submarine cable, the "Bay of Bengal Gateway" submarine cable system (BBG).
This new submarine cable will enhance the robustness and reli- ability of international connectiv- ity between Oman and the rest of the world through another direct connection to Singapore, with additional landing points in the UAE, India, Sri Lanka and Malaysia.
The BBG collaboration was made official when the consorti- um members -- Omantel (Oman), Telekom Malaysia Berhad (Malaysia), Vodafone Group (UK), Etisalat (UAE), Reliance Jio Infocomm Limited (India) and Dialog Axiata (Sri Lanka) -- signed the consortium agreement in Kuala Lumpur earlier.
The construction of this cable system is a clear indication of the growing demand for bandwidth in the participating countries. These markets are expected to see strong growth with the continuous efforts in embracing the broadband technologies and infrastructure expansion.
Internet News
Yahoo Inc's board will meet on Sunday to vote on whether to offer $1.1 billion in cash for New York-based blogging service Tumblr, tech blog AllThingsD cited sources close to the situation as saying on Friday.
Such an acquisition would be CEO Marissa Mayer's largest deal since taking the helm of the once-iconic Internet company in July 2012. Yahoo is keen on Tumblr because its younger user base would enhance the older website's "cool factor," the technology blog cited the sources as saying.
The news could be announced as soon as Monday, it said. Yahoo has invited press to an event in Manhattan at which it promised to "share something special," without elaborating.
Mayer, who spent 13 years at Google Inc, is trying to revitalize a former Internet powerhouse that in recent years has struggled with declining business. On its home page, Tumblr says it hosts 108 million blogs, with 50.7 billion posts between them.
Yahoo declined to comment, while Tumblr did not respond to requests for comment.
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