Business in brief: Identico | UAE | Premier Oil | Scotch Malt Whisky Society

Published on 16/07/2012 00:00

EDINBURGH-BASED software firm Identico today unveiled a “strategic partnership” with financial services IT firm Ballintrae aimed at fighting fraud and identity theft.

Under the deal, Ballintrae will deliver a “voice biometric” system to confirm an individual’s identity. The value of the partnership was not disclosed.

Identico chief executive Douglas Shand said: “Working with Ballintrae, we will bring our secure and cutting-edge product to leading enterprise organisations within the European region who want to improve security.”

UAE gets ready for Basel III compliance

Banks in the United Arab Emirates (UAE) will have to hold high-quality liquid assets equal to 10 per cent of their liabilities from 1 January next year, under a rule introduced by the central bank as it prepares the sector to comply with Basel III global standards.

The bank said physical cash, reserve requirements, central bank instruments and UAE federal government bonds would qualify as such assets.

Premier firms up Iraq partnership

Premier Oil is teaming up with Russia’s Bashneft to develop an Iraqi oil block, an oil official for the country said yesterday.

Last month, Iraq awarded Bashneft rights to develop the field. The company has now chosen Premier Oil as a partner, Abdul-Mahdy al-Ameedi, head of the oil ministry’s contracts and licensing directorate, said.

Malt society plugs into iPad market

The Scotch Malt Whisky Society has launched an interactive iPad version of its Unfiltered magazine, featuring maps, videos and a range of extra content for the society’s 26,000 members.

The publication is also available to non-members via Apple’s iTunes store and was designed by Connect Communications, which also produces the society’s print magazine.