IBA, Shanghai University sign MoU

KARACHI: The Institute of Business Administration (IBA) Karachi and Shanghai University, China will collaborate to offer a Master of Finance Programme, said a press release on Wednesday.

A memorandum of understanding was signed by Dean and Director IBA Dr Farrukh Iqbal and President Shanghai University Professor Jin Donghan.

M&S posts slump in annual net profit

LONDON: Marks and Spencer posted a 71-per cent slump in annual net profits on Wednesday, hit by vast restructuring costs and sliding clothing sales, the British retail giant said Wednesday.

Net profits dived to 117.1 million pounds ($152m) in the group’s financial year to April 1, M&S said in a statement. That compared with profit after taxation of 406.9m pounds a year earlier. Underlying pre-tax profits sank 10.3pc to 613.8m pounds.—AFP

Samsung investigating Galaxy S8 ‘iris hack’

SEOUL: Samsung Electronics is investigating claims by a German hacking group that it fooled the iris recognition system of the new flagship Galaxy S8 device, the firm said Wednesday.

The launch of the Galaxy S8 was a key step for the world’s largest smartphone maker as it sought to move on from last year’s humiliating withdrawal of the fire-prone Galaxy Note 7s, which hammered the firm’s once-stellar reputation.

But a video posted by the Chaos Computer Club (CCC), a German hacking group founded in 1981, shows the Galaxy S8 being unlocked using a printed photo of the owner’s eye covered with a contact lens to replicate the curvature of a real eyeball.

Published in Dawn, May 25th, 2017