Indonesia begins $5.9 bn EV battery project despite environment fears
Jakarta, Indonesia -- Indonesia broke ground Sunday on a $5.9 billion megaproject for EV battery production backed by Chinese giant...
Business
AI is learning to lie, scheme, and threaten its creators
In one particularly jarring example, under threat of being unplugged, Anthropic's latest creation Claude 4 lashed back by blackmailing an...
Research
Economy
China factory activity dips to lowest in two years: official data
The Purchasing Managers' Index (PMI), a key gauge of manufacturing activity, came in at 47.4 in April.
- The Purchasing Managers' Index (PMI), a key gauge of manufacturing activity, came in at 47.4 in April
- The figures come as Beijing digs in on a zero-Covid strategy that involves stamping out clusters as they emerge through targeted lockdowns
Geostrategy
Biden, Mexican president warn of ‘unprecedented’ migration flow
US President Joe Biden and his Mexican counterpart Andres Manuel Lopez Obrador warned of "unprecedented" pressure from migration in a...
- The virtual meeting showcased Biden's attempt to steer the complex relationship onto a more cooperative basis
- The two nations are inextricably tied through trade, culture and the violent narcotics industry
Geostrategy
Saudi Arabia and Turkey resolve to boost ties ‘in all fields’
Saudi Arabia's crown prince and Turkish President Recep Tayyip Erdogan have vowed to reset relations, to end a conflict between...
- Erdogan met with the Crown Prince Mohammed bin Salman, to "develop" relations. Saudi state news agency SPA published images of the Turkish leader embracing Prince Mohammed
- On Friday, Erdogan visited the Muslim holy city of Mecca, where he performed a pilgrimage among thousands of worshipers amid a heavy security presence
Geostrategy
UAE to send astronaut on six-month International Space Station mission
The United Arab Emirates announced Friday it will send an astronaut on a six-month mission to space, as it seeks...
- The country signed "a new agreement to send the first Arab astronaut on a long 180-day mission to the International Space Station", tweeted UAE's vice president Sheikh Mohammed.
- The astronaut will be part of the SpaceX Crew-6 mission, scheduled for launch in 2023.
Business
Deutsche Bank offices raided in money-laundering probe
Investigators searched the offices of Germany's biggest lender Deutsche Bank on Friday, prosecutors said, with the focus on the bank's...
- Deutsche Bank has in recent years been closely watched by financial authorities in relation to suspicious transactions
- Investigators searched Deutsche Bank's headquarters in 2019 for failing to report possibly illicit money flows
Economy
Libya losing $60 million a day from oil facilities shutdown: Minister
Oil is the lifeblood of the North African country trying to move past a decade of conflict since the fall...
- The Libyan closures follow the selection of a new PM, Fathi Bashagha, by Libya's eastern-based parliament in a direct challenge to Tripoli-based interim PM Abdulhamid Dbeibah.
- Analysts say eastern Libyan forces who back Bashagha have forced the closure of the oil facilities in a bid to press Dbeibah to step down.
Economy
French economy posts zero growth in first quarter
The French economy reported zero growth in the first quarter as households reduced their consumption due to rising inflation and...
- The zero-growth result was weaker than the INSEE agency's pre-war forecast of a 0.3 percent expansion, underlying the economic difficulties faced across Europe
- The figure puts an end to France's strong economic rebound from the Covid-19 pandemic and poses a challenge to President Emmanuel Macron
Geostrategy
Erdogan discusses Saudi-Turkish relations during his visit to oil kingdom
Turkish President Recep Tayyip Erdogan met with Saudi Arabia's crown prince on Thursday to "develop" relations during his visit to...
- The pair "reviewed the Saudi-Turkish relations and ways to develop them in all fields," SPA reported
- Pictures published by Turkish state media also showed a separate sit-down with King Salman, the crown prince's father.
Business
Amazon reports rare quarterly loss
The company warns of continuing challenges in the months ahead.
- The e-commerce giant said it lost $3.8 billion in the first three months of the year, plunging into the red on a $7.6 billion loss in value of its stock in Rivian.
- Sales in the recently ended quarter climbed to $116.4 billion, a seven percent increase from the same period a year earlier.
Musk offloads $4 billion in Tesla shares after Twitter deal
Tesla chief Elon Musk sold about $4 billion worth of shares in the electric carmaker in the days after Twitter's...
- Following these sales, Musk, the world's richest person, holds just over 168 million shares in Tesla, via a trust
- Twitter's stock is trading at a significantly lower price than Musk's offer of $54.20 a share closing at $49.11 on Wall Street on Thursday
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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
Indonesia begins $5.9 bn EV battery project despite environment fears
Jakarta, Indonesia -- Indonesia broke ground Sunday on a $5.9 billion megaproject for EV battery production backed by Chinese giant...
Business
Company News
Latest News
US, Qatar hope for Israel-Palestine truce within days
Netanyahu has faced increasing public pressure over the fate of the remaining hostages. Itamar Ben Gvir, Israel's far-right national security...
Geostrategy
AI the new obsession for venture capital investing
Stung by the struggles of cryptocurrency and other faded Silicon Valley fads of recent years, venture capitalists have quickly doubled...
Iran gears up for elections dominated by conservatives
Conservative daily Vatan-e-Emrouz hailed what it called the population's "interest in the candidates' electoral campaigns", which began on February 22....
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Geostrategy
US envoy blames Iran, Hizbollah for aiding Houthi attacks
The US special envoy for Yemen, Tim Lenderking, told a Senate subcommittee that Iran was "equipping and facilitating" the Huthi...
- He believes the Yemeni people don't want the Iranians in their country
- The US envoy acknowledged that the rebels have not been deterred
Geostrategy
Qatar says hopeful for Gaza truce before month of Ramadan
Doha, Qatar - Qatar is "hopeful" of a Gaza war ceasefire and is pushing for an agreement before Ramadan, its foreign...
- Egyptian, Qatari and US mediators met in Doha for talks also attended by Israeli and Hamas representatives.
- Qatar has been a key mediator in negotiations involving the Palestinian fighters, Israel, the United States and Egypt.
Geostrategy
Israeli troops kill 3 Palestinians in West Bank’s refugee camp
Tubas, Palestinian Territories - Israeli troops killed three Palestinians in an overnight raid in a refugee camp in the occupied West...
- The Palestinian health ministry in Ramallah said the three men were killed "by Israeli occupation bullets" during clashes in the Faraa refugee camp.
- One of the three men killed was a fighter, a Palestinian official said, while the other two were civilians "in their homes and were killed by snipers deployed in the camp".