Infinite Unknown

Barclaycard has announced it is investing a seven-figure sum in “contactless payment” technology Photo: Getty Images

The futuristic systems, like those used by Tom Cruise in the science fiction film Minority Report, are being developed by scientists for Barclaycard.

The company has announced it is investing a seven-figure sum in “contactless payment” technology.

This allows customers to use everyday items they carry around with them - such as mobile phones, key fobs or even their eyes or fingerprints - to make payments.

It means shoppers will no longer have to rely on cards.

Barclaycard, which is part of Barclays, has already introduced a new-style cash machine in the United Arab Emirates enabling people to use their fingerprints to withdraw money and shoppers in the UK may soon be able to use the same technology.

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Tags: biometrics, Fingerprints, Minority Report, Science, Scientists, Technology, U.K., United Arab Emirates

· Green energy glasshouses may transform arid areas
· Fresh water will end need to dig wells, say architects

The Sahara forest project will use seawater and solar power to grow food in greenhouses across the desert. Photograph: Exploration Architecture

Vast greenhouses that use sea water for crop cultivation could be combined with solar power plants to provide food, fresh water and clean energy in deserts, under an ambitious proposal from a team of architects and engineers.

The Sahara Forest Project, which is already running demonstration plants in Tenerife, Oman and the United Arab Emirates, envisages huge greenhouses with concentrated solar power (CSP), a technology that uses mirrors to focus the sun’s rays, creating steam to drive turbines to generate electricity.

The installations would turn deserts into lush patches of vegetation, according to its designers, and do away with the need to dig wells for fresh water, an activity that has depleted aquifers across the world.

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Tags: desert, electricity, Environment, Government, Middle East, Oman, Sahara Forest Project, Solar Energy, Solar Power, Technology, Tenerife, United Arab Emirates, water

Pressure is mounting on central banks in the Gulf to fight surging inflation when they meet on Wednesday by severing the link between their currencies and the tumbling US dollar.Officials in Qatar and the United Arab Emirates have denied rumours of an imminent decoupling, but investors are betting on reform and are rushing to buy local currencies as investment banks issue fresh calls for revaluation. Continue reading »

Tags: decoupling, Deutsche Bank, Dollar, Emirates Bank, gulf states, Inflation, Middle East, United Arab Emirates

Alan Greenspan, the former chairman of the US central bank, or Fed, has said that inflation rates in Gulf states, which are reaching near record levels, would fall “significantly” if oil producers dropped their US dollar pegs.

Speaking at an investment conference on Monday in Jedda, Saudi Arabia, he said the pegs restrict the region’s ability to control inflation by forcing them to duplicate US monetary policy at a time when the Fed is cutting rates to ward off an economic downturn.

Debate is rife in the Gulf on how to tackle inflation.

Greenspan, right, says inflation rates in Gulf states will fall if they drop their US dollar pegs [AFP]

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Tags: Abu Dhabi, Deutsche Bank, Greenspan, Gulf, Gulf Cooperation Council, gulf states, investment, monetary policy, Saudi Arabia, United Arab Emirates, US dollar