Rumors: Apple to launch iPad mini

A flurry of rumours have hit the web, hinting at the launch of a new miniature version of Apple’s latest slate, the iPad 3.

According to reports, Apple is keen on releasing an iPad Mini to fend of stiff competition from rival Amazon, who successfully entered the tablet market last year with the Amazon Kindle Fire.

How much truth is behind the rumours and what exactly can we expect to see from the iPad Mini?

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Dubai Government’s system under cyber attacks, or so they say

In the global media, few recent articles that have not been yet confirmed, claim that a hacker struck the Dubai government’s system on Friday.

After taking a break from Sony, the loosely-affiliated hacker group Anonymous is said to be waging cyber attacks against the governments of Iran and the United Arab Emirates, according to Yahoo.com. Read more

A rumor that Facebook is shutting down is spreading fast on the Internet

A ridiculous rumor that Facebook is shutting down is spreading fast on social networks. It’s not clear how it started, but it’s gaining a momentum.

The hot rumor, evidenced by Google Trends is gaining traction on Twitter. It says that on March 15, 2011, Facebook will be closing down. Not taking a day off, not undergoing maintenance, but ending entirely. Read more

Personal loans limit may be removed soon

• New rules could allow loans of up to 50 times an applicants’ monthly salary

The draft of a new system for approval of personal loans states that the Dh250,000 limit on personal loans could be removed shortly in UAE. Emarat Al Youm featured the story during the holidays, quoting unnamed sources in the UAE Central Bank.

The salary conversion applicable under the current rules imposes a limit of Dh250,000 on personal loans even for high earning applicants.

The new system will allow the client 20 or 30 or 50 times the [monthly] salary, according to the board of the bank on the final form of the draft. Read more

Casino in Dubai?

Looking at the headline of the article, one can’t keep him self from wondering if it is a publicity stunt, rumor or a real industry insider suggestion. But Yann Caillère, the chief operating officer of Accor Hospitality and CEO of Sofitel Worldwide, apparently told Arabian Business: “When you are in Dubai the difference between Las Vegas and Dubai is the gambling basically”. Caillère continued that it was unlikely that casinos would be introduced in the Middle East as it is a culturally sensitive issue.

Officially, gambling in Dubai is a big taboo, but with the expat population expanding to over 90 per cent from the population, peoples’ opinions vary according our pool. So far, the results show that the positive and negative views are almost equally divided, while smaller percentages of the readers are positive only about few casinos. Read more

Dubai World debt offer to include sovereign guarantee, repay 60 pct after 7 years

• DIFC to host Dubai World hearings

Dubai World may offer creditors 60 cents on the U.S. dollar guaranteed by the sheikdom’s government as part of a deal to reschedule $22 billion of debt, two people familiar with the matter told Zawya Dow Jones.

Under the terms of the deal, banks including HSBC Holding PLC, Royal Bank of Scotland Group PLC, Standard Chartered PLC and Abu Dhabi Commercial Bank, will receive 60% of the money they’re owed by the troubled conglomerate after seven years, Maktoob Business reports. Read more

Hotel Chain initiated arbitration proceedings against Meydan LLC

Meydan acting in its best interests

HotelierMiddleEast.com exclusively reveals that Banyan Tree Hotels and Resorts has initiated arbitration proceedings against Dubai company Meydan LLC “for various breaches” of the management contracts for two Dubai hotels the company was expected to operate.

The website is citing a statement  released by Banyan Tree that said: “Further to the announcement made on 14 November 2009, the Board of Directors of Banyan Tree Holdings Limited (“BTH” or “Company”) has announced that its wholly-owned subsidiary, Banyan Tree Hotels & Resorts Pte. Ltd. (“BTHR”) has initiated arbitration proceedings against Meydan LLC, Meydan Group LLC and Meydan City Corporation for various breaches of the Hotel Management Agreement for The Meydan and the Villa Management Agreement for Banyan Tree Meydan”. Read more

Are Dubai World assets for Sale or No?

Dubai is preparing to sell off a raft of assets, including Canadian circus group Cirque du Soleil and the QE2 cruise liner, as part of a huge cash-raising exercise, said  Zawya today citing The Times.

No, Cirque du Soleil CEO Daniel Lamarre is not worried about rumours that broke Monday about the possible sale of Dubai World’s shares in the Cirque du Soleil. For two reasons, which are described by The Montreal Gazette.

Advisers to government-owned conglomerate Dubai World, led by Deloitte plan to offload a portfolio of trophy assets owned by Istithmar, its private-equity arm, to pay off some of Dubai World’s $22 billion debts. It is understood that advisers will attempt to sell each asset individually rather than find a single buyer for the whole portfolio.The sale of some Dubai World assets has already started. Istithmar PJSC, the company’s investment unit, raised about $37 million from the sale this week of its 13.4% stake in Indian budget airline SpiceJet Ltd.

Other state-linked Dubai entities have started talks to divest Asian assets too, according The Financial Tims.  Emaar Properties is talking to potential buyers of its majority stake in Singapore-based distributor and retailer RSH, which operates brands including Zara and Mango, across Asia and the Middle East. A unit of Dubai Holding is looking to sell its 40 per cent stake in Malaysia’s Bank Islam.

Malicious SMS rumours about short in supply of medicines and blood unfounded

The Ministry of Health today warned members of the public against heeding malicious SMS rumours about short in supply of medicines and blood in hospitals to treat patients or outbreak of certain diseases, reported the official news agency WAM. Read more

Probe into ‘Slumdog’ child star sale to Dubai couple

Police investigate whether the father of a “Slumdog Millionaire” child star tried to sell her.

India’s child-rights watchdog has sought a report from police investigating allegations by a tabloid that the father of a “Slumdog Millionaire” child star tried to sell her to an undercover reporter, the watchdog’s leader told CNN. Read more

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