UAE top court upholds life terms for 24 convicted in mass trial
Dubai, United Arab Emirates -- The UAE supreme court has jailed 24 people for life after upholding their convictions for...
Geostrategy
Cristiano Ronaldo extends contract with Saudi Arabia’s Al Nassr until 2027
Riyadh, Saudi Arabia -- Cristiano Ronaldo inked a two-year extension with Saudi Arabia's Al Nassr, the club announced Thursday, following...
Arts & Culture
Geostrategy
European Space Agency cuts lunar mission cooperation with Russia
The European Space Agency on Wednesday ended cooperation with Russia on three missions to the Moon due to Moscow's invasion...
- The ESA had planned to have a navigation camera called Pilot-D on the Luna-25 probe, whose launch is scheduled for this summer
- The ESA is looking for other options and partners to test the technology that would have formed part of the Russian missions.
Business
Volkswagen posts Q1 profit
The German auto giant said operating profit rose to $9.3bn.
- The group's operating profit rose to 8.5 billion euros ($9.3 billion) over the first three months of the year
- The boost was down to strong "operating performance" and a positive effect of 3.5 billion euros
Economy
World Bank says war in Ukraine raising risks for Middle East
The war in Ukraine has "multiplied risks" for the Middle East and North Africa's poorer countries by raising food and...
- World Bank president David Malpass said this week that the Russian war on Ukraine has started a chain reaction in the global economy, pushing energy and food prices higher
- Oil-exporting economies are expected to grow 5.4 percent on the back of the recovery from the pandemic, the expected increase in oil output and high oil prices
Geostrategy
Lebanon to demolish blast-hit Beirut silos
Once boasting a capacity of more than 100,000 tons, the imposing 48-meter (157-foot) high structure has become emblematic of the...
- Last year, Swiss company Amann Engineering also called for their demolition, saying the most damaged of the silos were tilting at a rate of two millimeters per day.
- Authorities say the blast was caused by a shipment of ammonium nitrate fertilizer, that caught fire after being impounded for years on end in haphazard conditions.
Economy
IMF says Ukraine war slowing economic growth worldwide
The war in Ukraine has undercut the global recovery, slowing expected economic growth in most countries in the world, IMF...
- The war hit as the world was struggling to recover from the ongoing impact of the Covid-19 pandemic, which has caused an acceleration of inflation
- The IMF is due to release its updated economic forecasts on Tuesday, which Georgieva said will further downgrade the estimate for global growth
Science
LNG ships worse for climate, claims NGO
Cargo ships use a particularly dirty type of fuel but the shipping industry has sought to shift to cleaner-burning LNG.
- NGO Transport & Environment said it had mounted an investigation of LNG-powered ships in service
- It found that they emit methane, which is a much more potent greenhouse gas than carbon dioxide
Geostrategy
European Parliament calls for ‘genuine’ dialogue in Tunisia
Members of the European Parliament urged Tunisian President Kais Saied on Wednesday to engage in "genuine" dialogue with political parties...
- European officials have repeatedly voiced concern over his moves, warning of blows against democracy in the birthplace of the Arab Spring uprisings
- In a statement, the delegation urged Tunisians "to embark on a broad-based and structured" dialogue
Business
Elon Musk offers to buy 100 percent of Twitter stock, take it private
Tesla chief offered $54.20 a share, which values the social media firm at $43.4 billion, in a filing dated April...
- Musk's latest move towards Twitter comes just days after he turned down a seat on the board following his acquisition of a 9.2 percent stake in the microblogging platform.
- Musk, Twitter's biggest shareholder, said his "offer is my best and final offer" and he would reconsider his position as a shareholder if it was rejected.
Economy
ECB contends with high inflation and weak growth
European Central Bank policymakers meet on Thursday faced with the challenge of threading a response between record-high inflation figures and...
- The bank's 25-member governing council gathers for the second time since Russia launched its invasion at the end of February
- Inflation in the eurozone hit 7.5 percent in March, an all-time high for the currency bloc and well above the central bank's own two-percent target
Arts & Culture
Damascus art installation turns ceramic doves into war symbol
The 15,000 ceramic birds made by Buthaina al-Ali, a professor at Damascus University's faculty of arts are finally airbound, appearing...
- The 15,000 ceramic birds made by Buthaina al-Ali, a professor at Damascus University's faculty of arts are finally airbound, appearing in an exhibition curated by Ali's students
- The exhibition in the Old City of Damascus is curated by 16 students, and "sadness is the common factor" among the works, Ali said
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UAE top court upholds life terms for 24 convicted in mass trial
Dubai, United Arab Emirates -- The UAE supreme court has jailed 24 people for life after upholding their convictions for...
Geostrategy
Company News
Volkswagen to reduce workforce
Business
BAT takes shock $32bn hit
Business
Latest News
Meta, IBM tie up to develop AI
Business
NORAD fighters intercept high-altitude balloon over US
WASHINGTON, US – A small balloon floating at a high altitude over the US state of Utah was intercepted by fighter...
Geostrategy
Ratcliffe unveils electric Ineos car
Jim Ratcliffe is the co-owner of the Manchester United.
Bosch to cut 3,500 jobs
The company is reducing costs to safeguard competitiveness,
Most Read
Business
Chip giant TSMC shifts to Japan
The company produces half the world's chips.
- Taiwan Semiconductor Manufacturing Company, which counts Apple and Nvidia as clients, produces half the world's chips
- But TSMC's customers concerned about supplies of semiconductors want the firm to make more chips away from the self-ruled island
US warns of environmental disaster from cargo ship hit by Houthi rebels
The attack on the Rubymar represents the most significant damage yet to be inflicted on a commercial ship since the...
- Rubymar, British-registered and Lebanese-operated cargo ship was damaged in a Sunday missile strike claimed by the Houthis
- US Central Command said the ship is anchored but slowly taking on water and has left an 18 mile oil slick
Dow, S&P 500 hit fresh records, but Nasdaq ticks lower
The tech-rich Nasdaq slipped by 0.3 percent to 15,996.82 -- a day after surging by 3.0 percent following strong earnings...
- The Dow Jones Industrial Average, America's blue-chip index, rose 0.2 percent to end the day at a record high of 39,131.53
- The broad-based S&P 500 was barely positive for the day, rising by well under 0.1 percent. Nevertheless, it inched higher to a new record of 5,088.80