TSMC says started mass production of ‘most advanced’ 2nm chips
Taipei, Taiwan -- Taiwanese tech titan TSMC has started mass producing its cutting-edge 2-nanometre semiconductor chips, the company said in...
Business
Geostrategy
US private sector lost 32,000 jobs last month in surprise drop
President Donald Trump has been touting the economy's health, and forecasts had incorrectly predicted the monthly data would show a...
- "Hiring has been choppy of late as employers weather cautious consumers and an uncertain macroeconomic environment," ADP chief economist Nela Richardson said.
- "While November's slowdown was broad-based, it was led by a pullback among small businesses."
Business
OpenAI declares ChatGPT ‘code red’ over stiff competition: report
Washington, United States -- OpenAI CEO Sam Altman has declared a company-wide "code red" as its ChatGPT technology faces stiff...
- Altman told employees that the company was "at a critical time for ChatGPT," and that resources must be devoted to fending off the new competition to its chatbot.
- Altman said that other projects would now be delayed, including a plan to introduce advertising to the chatbot.
Business
Amazon unveils new AI chip in battle against Nvidia
San Francisco, United States -- Amazon Web Services launched its in-house-built Trainium3 AI chip on Tuesday, marking a significant push...
- The move intensifies competition in the AI chip market, where Nvidia currently dominates with an estimated 80- to 90-percent market share.
- AWS also announced it is already developing Trainium4, expected to deliver at least three times the performance of Trainium3 for standard AI workloads.
Economy
Saudi powers forward with deficit spending to fund reforms
The Arab world's largest economy is overseeing a major push to slash its dependence on oil revenues, with officials pouring...
- The state's general budget for 2026 would have total expenditures of 1.313 trillion riyals (350.1 billion dollars).
- The projected deficit amounts to 3.3 percent of GDP, which is lower than the deficit of 245 billion riyals estimated for 2025.
Economy
Saudi powers forward with deficit spending to fund diversification of its oil-dependent economy
Saudi Arabia greenlit its 2026 budget Tuesday, projecting a deficit of 165 billion riyals ($44 billion) as the kingdom presses...
- The Arab world's largest economy is overseeing a major push to slash its dependence on oil revenues, with officials pouring billions into projects to attract investment and tourism
- The budget figures will be keenly watched by energy industry experts, with the hopes of gleaning insights into where Saudi Arabia expects oil revenues to head in the near future
Geostrategy
If Europe wants war with Russia, ‘we are ready,’ says Putin as he meets US envoys over Ukraine deal
Washington has presented a 28-point draft to end the conflict, later amended after criticism from Kyiv and Europe, which viewed...
- The comments came as US envoy Steve Witkoff and President Donald Trump's son-in-law Jared Kushner were in Moscow for high-stakes talks on ending the nearly four-year war
- "They have no peaceful agenda, they are on the side of war," he added, repeating his claim that European leaders were hindering US attempts to broker peace in Ukraine
Business
Amazon tests ‘ultra-fast’ deliveries in two US cities
San Francisco, United States - Amazon on Monday began testing "ultra-fast" deliveries in two US cities, giving some shoppers the...
- Amazon is piloting its new “Amazon Now” feature in select neighbourhoods, offering items ranging from groceries to electronics
- Delivery fees for the ultra-fast service start at $3.99 for Prime members and $13.99 for non-members
Business
Bid by Netflix for Warner Bros Discovery signals streaming giant’s ambition to dominate global content production
Streaming giant Netflix has made a mostly cash offer to buy TV and film group Warner Bros Discovery as the...
- Netflix joined Paramount Skydance and Comcast, the owner of NBCUniversal, in a second round of an auction that was being negotiated throughout the US Thanksgiving holiday
- The parent company of HBO, CNN and the Warner Bros film studio officially put itself up for sale in October after receiving multiple unsolicited offers
Geostrategy
Trump warns Israel not to ‘interfere’ in Syria, days after deadly operation killed 13 people
"It is very important that Israel maintain a strong and true dialogue with Syria, and that nothing takes place that...
- "It is very important that Israel maintain a strong and true dialogue with Syria, and that nothing takes place that will interfere with Syria's evolution into a prosperous State,"
- Trump spoke to Israeli Prime Minister Benjamin Netanyahu and invited him for another White House visit, Netanyahu's office said shortly after Trump issued the warning
Geostrategy
Trump says US freeze on asylum decisions will last ‘a long time’
US President Donald Trump said Sunday his administration intends to maintain a pause on asylum decisions for "a long time"...
- "We don't want those people," Trump said. "You know why we don't want them? Because many have been no good, and they shouldn't be in our country."
- The Trump administration issued the pause in the aftermath of the shooting in Washington on November 26, that left 20-year-old Sarah Beckstrom dead and another guardsman wounded
Most Read
Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
Company News
Latest News
Nvidia expands AI empire with Groq talent grab
San Francisco, United States -- Nvidia has hired the leadership of a promising AI chip startup, a statement said Wednesday,...
Business
Iran Guards seize foreign-crewed oil tanker in Gulf: state media
Iran's Revolutionary Guards on Wednesday seized an oil tanker in the Gulf carrying more than a dozen foreign crew members,...
Geostrategy
Israel to invest $110 billion over the next decade to develop its own independent arms industry
Prime Minister Benjamin Netanyahu said Wednesday that Israel would invest $110 billion over the next decade to develop its own...
Geostrategy
Most Read
Business
Why metal prices are soaring to record highs
London, United Kingdom -- Precious and industrial metals are surging to record highs as the year ends, driven by economic...
- Gold has climbed more than 70 percent this year and passed $4,500 an ounce for the first time on Wednesday.
- A weak dollar is also boosting industrial metals, since commodities priced in dollars become cheaper for buyers when the currency falls.
Geostrategy
Palestinian Authority says Israel tightening control over West Bank with new settlements
The Palestinian Authority condemned on Tuesday Israel's recent approval of 19 settlements in the occupied West Bank, accusing it of...
- On Sunday, Israel's far-right Finance Minister Bezalel Smotrich announced the authorities had greenlit the settlements
- The latest move brings the total number of settlements approved over the past three years to 69, Smotrich's office said
Economy
“New Suez Canal on rails”: Egypt high-speed trains to connect Red Sea, Mediterranean
Workers have started laying tracks in the desert east of Cairo for Egypt's first high-speed train, which will link the...
- The Green Line, as it is known, is the latest of a long list of megaprojects undertaken by El-Sisi's government in the past decade
- The Green Line will run across the country's north, from Ain Sokhna on the Red Sea to Marsa Matrouh on the Mediterranean