Microsoft unveils $15.2 billion AI, cloud computing investments in UAE
The deal sent US chip-maker Nvidia shares up 2.6 percent, buoyed by hopes the AI juggernaut could see access for...
Business
Syrian leader to discuss sanctions, reconstruction in US visit: FM
Syria's president will discuss issues including lifting remaining sanctions, reconstruction and counter-terrorism when he becomes the country's first leader to...
Geostrategy
Business
Gaza truce talks resume in Egypt, without Israel for now
Mediators from Qatar, Egypt and the United States have been waiting for Hamas to respond to a proposal that, according...
- The WHO says 1.2 million people, half of Gaza's population, have sought refuge in Rafah, which has been repeatedly threatened by Israel with an invasion.
- US has reiterated its objections to a Rafah offensive, saying Israel has not presented a plan to protect the civilians sheltering there.
Hamas says delegation heading to Cairo for truce talks
The hawkish prime minister has insisted he will send ground troops into Rafah, despite strong concerns voiced by UN agencies...
- Foreign mediators have been waiting for a Hamas response to a proposal to halt the fighting for 40 days and exchange hostages for Palestinian captives
- A major stumbling block has been that, while Hamas has demanded a lasting ceasefire, Israeli Prime Minister Benjamin Netanyahu has vowed to continue to fight
Geostrategy
EU pledges $1 bn for Lebanon, urges curbs against illegal migration
The EU Commission's spokesman said in Brussels the aid will be disbursed "in grants", with 736 million euros earmarked to...
- "I can announce a financial package of $1 billion for Lebanon that would be available from this year until 2027," the European Commission chief said
- She said the aid was designed to strengthen basic services such as education and health amid a severe economic crisis
Geostrategy
United Nations estimates rebuilding Gaza will cost $30bn to $40bn
"The scale of the destruction is huge and unprecedented... This is a mission that the global community has not dealt...
- He added that Gaza's reconstruction through the normal process could take decades, and the "Palestinian people do not have the luxury of waiting for decades".
- "It is therefore important that we act quickly to re-house people in decent housing and restore their lives to normal -- economically, socially, in terms of health and education".
Geostrategy
Blinken urges Hamas to agree truce to help Gazans
A Hamas official said the group would respond "within a very short period" to a plan proposed by mediators to...
- "Hamas needs to say yes and needs to get this done," said Blinken, who was in Israel on his seventh Middle East crisis tour since the war broke out in October
- He later added: "If Hamas actually purports to care about the Palestinian people and wants to see an immediate alleviation of their suffering, it should take this deal."
Economy
US Federal Reserve keeps interest rates at 23-year high
Washington, United States - The US Federal Reserve on Wednesday held interest rates steady for a sixth straight meeting, keeping the...
- After a two-day gathering, the central bank decided unanimously to keep the benchmark lending rate unchanged at 5.25-5.50 percent
- For months, the US central bank has held its benchmark lending rate at a high level to cool demand and rein in price increases
Geostrategy
Hamas official insists Gaza ceasefire must be permanent
Hamas is considering a plan for a 40-day ceasefire and the exchange of scores of hostages for larger numbers of...
- He said it was premature to say whether the Hamas envoys, who have returned from talks in Cairo to their base in Qatar, felt any progress was made.
- A source with knowledge of the negotiations said Qatari mediators expected a response from Hamas in one or two days.
Geostrategy
More war debris in Gaza than Ukraine: UN Mine Action Service
And the danger for clearance work is restricted not just to unexploded ordnance but includes possible exposure to toxic substances...
- "There's estimated to be over 800,000 tons of asbestos, for instance, alone in the Gaza rubble," said Mungo Birch, head of the UNMAS program in the Palestinian territories.
- Birch said he hoped UNMAS, which works to mitigate the threats posed by all types of explosive ordnance, would become the coordination body for mine action in Gaza.
Geostrategy
Blinken says US ‘determined’ to get Israel-Hamas ceasefire deal ‘now’
US Secretary of State Antony Blinken renewed calls for Hamas to accept a ceasefire deal Wednesday as he started talks...
- Netanyahu: Israel will launch an invasion of Rafah "with or without" a ceasefire deal.
- Aid is coming to Gaza but more is needed
Business
Amazon triples quarterly profit
The company's cloud, ads, and retail businesses thrive.
- Amazon shares were up about one percent in after-market trades that followed release of the earnings figures
- Sales at Amazon online stores grew by 7% in the quarter despite competitive pressure from rivals such as Shein and Temu
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
Microsoft unveils $15.2 billion AI, cloud computing investments in UAE
The deal sent US chip-maker Nvidia shares up 2.6 percent, buoyed by hopes the AI juggernaut could see access for...
Business
Company News
Latest News
OpenAI releases ChatGPT-5 as AI race accelerates
San Francisco, United States -- OpenAI released a keenly awaited new generation of its hallmark ChatGPT on Thursday, touting "significant" advancements...
Business
Average US tariffs now highest since 1910s: WTO and IMF
The figure, calculated by the two organizations, stands in contrast with the 2.4 percent rate in force at the time...
Economy
Israel plans to ‘take control’ of Gaza City, sparking wave of criticism
European Council chief Antonio Costa warned "such a decision must have consequences" for EU-Israel ties, while Germany said it was...
Geostrategy
Most Read
Geostrategy
Netanyahu’s Gaza plan: Hamas accuses Israel PM of sacrificing hostages for personal interest
"Netanyahu's plans to escalate the aggression confirm beyond any doubt his desire to get rid of the captives and sacrifice...
- "Netanyahu's plans to escalate the aggression confirm beyond any doubt his desire to get rid of the captives and sacrifice them in pursuit of his personal interests. Hamas said
- The statement was issued as Netanyahu was convening his security cabinet to vote on an expansion of the military campaign in Gaza
Geostrategy
Trump to host Armenia, Azerbaijan for historic ‘Peace Signing’ Friday
US President Donald Trump announced he will host the leaders of Armenia and Azerbaijan on Friday for what he called...
- Armenian Prime Minister Nikol Pashinyan and President Ilham Aliyev of Azerbaijan "will join me at the White House for an official Peace Signing Ceremony," Trump said Thursday
- Baku and Yerevan, sworn enemies for decades, went to war twice over the disputed Karabakh region, which Azerbaijan recaptured from Armenian forces in a lightning 2023 offensive
Geostrategy
A day after Hezbollah’s rebuff, Lebanon cabinet meets again on the group’s disarmament
With Washington pressing Lebanon to take action on the matter, US envoy Tom Barrack has made several visits to Beirut...
- With Washington pressing Lebanon to take action on the matter, US envoy Tom Barrack has made several visits to Beirut in recent weeks
- Prime Minister Nawaf Salam said Tuesday that the government had tasked the military with developing a plan to restrict arms to state forces by the end of 2025.