Divided US Fed set for contentious interest rate meeting
When the Fed last met in October, Chair Jerome Powell asserted that another rate cut in December was "not a...
Economy
In Data Center Alley, AI sows building boom, doubts
Ashburn, United States -- As planes make their final approach to Washington DC's Dulles Airport, just below lies Ashburn, a...
Business
Geostrategy
Israel making Gaza unlivable, expands control over half of the territory
Jerusalem, Undefined -- By seizing large swathes of the Gaza Strip, Israel is redrawing the map of the Palestinian territory,...
- Nearly all Gazans have been displaced at least once, and many now live in schools turned shelters, under tents and in other makeshift shelters.
- Some Israeli figures who advocate for the return of settlements in the Gaza Strip -- which were evacuated in 2005 -- claim to have concrete plans and make regular visits.
Geostrategy
Chinese vent anger at Trump’s trade war with memes, mockery
Beijing, China -- While China's leaders use their economic and political might to fight Donald Trump's trade war "to the...
- Defiant posts have shot to the top of most-searched lists on social media, flooding platforms with patronizing comments and jokes.
- In one video, a Chinese internet user opens his hands to reveal what goods he buys from the United States -- nothing.
Business
Google has illegal monopoly in ad tech, US judge rules
Washington, United States - A US judge on Thursday ruled that Google illegally wielded monopoly power in the online ad...
- The federal government and more than a dozen US states filed the antitrust suit against Alphabet-owned Google
- It is one of two federal suits targeting Google that could ultimately see the company split up and curb its influence
Economy
Egypt central bank lowers interest rate for first time since 2020
Egypt's central bank on Thursday announced that it was lowering interest rates for the first time since 2020, days after...
- The Central Bank of Egypt cut interest rates by 225 basis points, its monetary policy division said in a statement
- Its overnight deposit rate, overnight lending rate, and the rate of the main operation now stood at 25%, 26 percent and 25.5%, respectively
Geostrategy
Deadly US strikes hit Yemen fuel port used by Huthis
The US military said it had destroyed a key Yemeni fuel port as it targets the country's Huthi rebels, who...
- The attack on the Ras Issa fuel port aimed to cut off a source of supplies and funds for the Iran-backed Huthis, the US military said
- Washington has hammered the Huthis with near-daily air strikes since March 15 in a bid to end their attacks on civilian shipping and military vessels
Geostrategy
Hamas rejects Israel’s truce plan, demands full withdrawal and end of war in Gaza
The Palestinian militants' chief negotiator spoke out after civil defence rescuers in Gaza said new Israeli air strikes killed at...
- A Hamas source told AFP that the group sent a written response Thursday to mediators on Israel's latest proposal for a 45-day ceasefire
- It also called for the freeing of 1,231 Palestinian prisoners from Israeli jails and the entry of humanitarian aid into Gaza
Geostrategy
40 mostly displaced Gazans killed in Israeli strikes
Civil defense spokesman Mahmud Bassal said two Israeli missiles hit several tents in the Al-Mawasi area of the southern city...
- Bassal said that Israeli strikes on two other encampments killed a further nine people -- seven in the northern town of Beit Lahia, and a father and son near Al-Mawasi.
- Two more attacks in Jabalia -- one that killed at least seven members of the Asaliya family, and another that killed six people at a school being used as a shelter.
Business
US judge rules Google monopolized online ad tech market
Washington, United States -- A US judge on Thursday ruled that Google wielded monopoly power in the online ad technology...
- It is one of two federal suits targeting Google that could ultimately see the company split up and curb its influence -- and part of a wider government push to rein in Big Tech.
- The vast majority of websites use a trio of Google ad software products that together leave no way for publishers to escape Google's advertising technology, the plaintiffs alleged.
Business
TSMC first-quarter net profit soars
Its net revenue for the quarter soared nearly 42%.
- TSMC is the world's largest contract maker of chips that have become the lifeblood of the global economy, powering everything from smartphones to missiles.
- Demand for chips has soared in recent years with the growth of AI, but there are fears that Trump's far-reaching tariffs could drive up consumer prices and hurt chipmakers.
Geostrategy
Qatar renews $60 mn grant for Lebanon army salaries
Qatar is to renew a $60 million grant to pay the salaries of Lebanon's army and provide 162 military vehicles,...
- The Lebanese President arrived in Qatar on Tuesday accompanied by foreign minister Youssef Raggi, and departed Doha on Wednesday afternoon
- The gas-rich Gulf state in February pledged support for reconstruction in Lebanon and was already a provider of financial and in-kind support to the Lebanon
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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
Divided US Fed set for contentious interest rate meeting
When the Fed last met in October, Chair Jerome Powell asserted that another rate cut in December was "not a...
Economy
Company News
Latest News
Trump announces steep new tariffs on pharmaceuticals, big-rig trucks, furniture, reviving trade war
US President Donald Trump announced Thursday punishing tariffs on pharmaceuticals, big-rig trucks, home renovation fixtures and furniture, reviving his global...
Economy
Ahead of Netanyahu visit, Trump vows to block Israel annexation of West Bank
Trump voiced optimism about ending nearly two years of devastating war, echoing the confidence expressed a day earlier on the...
Geostrategy
Palestinian leader Mahmud Abbas tells UN no role for Hamas in state
Abbas, who addressed UN General Assembly by video after the US took the unusual step of denying him a visa...
Geostrategy
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Geostrategy
Meta activates Facebook ‘teen accounts’ worldwide
Paris, France -- Meta said Thursday it was activating so-called "teen accounts" with additional protections for adolescent Facebook and Messenger...
- Meta's teen accounts, which offer additional security settings, content restrictions and parental controls for users aged 13 to 17, were first introduced on Instagram last year.
- The company said in April that it had extended them across Facebook and the social network's Messenger private chat service in the US, Canada, Australia and Britain.
Business
UAE raises $299 million in Islamic Treasury Sukuk auction
Abu Dhabi, UAE — The UAE Ministry of Finance (MoF), in collaboration with the Central Bank of the UAE, has...
- The auction underscores growing demand for UAE’s dirham-denominated sukuk, reflecting robust investor confidence in its credit and economic outlook.
- With tight spreads over US Treasuries, the sukuk issuance demonstrates competitive pricing while advancing the UAE’s local debt market development.
Geostrategy
Palestinian leader to address UN as the US weighs whether to stop Israel’s Gaza annexation
Steve Witkoff, Trump's golfing friend turned roving global negotiator, said that Trump in a separate meeting with a group of...
- US President Donald Trump's administration adamantly rejected statehood and, in a highly unusual step, barred Abbas and his senior aides from traveling to New York
- Israeli Prime Minister Benjamin Netanyahu has vowed not to allow a Palestinian state and far-right members of his cabinet have threatened to annex the West Bank