TotalEnergies net profit soars despite lower oil prices
Paris, France -- French oil and gas giant TotalEnergies reported on Thursday a sharp increase in third-quarter net profit despite...
Business
Trade truce in balance as Trump meets ‘tough negotiator’ Xi: ‘We’ll have a great understanding’
The world's two top economies' trade tussle -- encompassing everything from rare earths to soybeans and port fees -- has rocked...
Geostrategy
Business
Iraq to import electricity from Jordan to ease its chronic outages
Baghdad, Iraq -- Iraq said Friday a power line would soon bring electricity from Jordan to the border area as authorities...
- With its generating capacity ravaged by decades of conflict and underinvestment, Iraq has long relied on imports of both gas and electricity from neighboring Iran.
- The 340-kilometre (210-mile) power line from Jordan will officially start operating on Saturday, the electricity ministry said in a statement.
Geostrategy
UAE extradites alleged drug baron from Dubai to Belgium
Brussels, Belgium -- One of Belgium's most-wanted suspected drug smugglers was extradited from Dubai on Friday, the Belgian justice ministry said....
- Nordin El Hajjioui, a Belgian of Moroccan origin, is believed to be one of the main drug barons in Antwerp and is wanted in at least three cocaine-trafficking cases.
- Emirati officials first arrested the 36-year-old in 2020 in Dubai after a request from Belgium but then released him. He was taken back into custody last year.
Business
Huawei profit tops $12bn
The profits more than doubled compared to 2022.
- Huawei has been at the center of an intense standoff between China and the United States, with Washington warning its equipment could be used for espionage.
- Sanctions since 2019 have cut Huawei's access to US-made components and technologies, forcing it to diversify.
Geostrategy
Israeli strikes kill dozens in Syria and Lebanon, rile Russia and Iran
In Syria, "Israeli strikes" targeted a Hizbollah "rockets depot" in Aleppo province, killing 36 Syrian soldiers, seven Hezbollah members and...
- Moscow said they were "categorically unacceptable" while Iran said they were a "violation of Syria's sovereignty" and "a serious threat to peace and security".
- In Lebanon, Hizbollah has exchanged near-daily fire with the Israeli army across the country's southern border since October, saying it is in support of Gazans and Hamas.
Geostrategy
Turkey’s Erdogan seeks to wrest back Istanbul in mayoral election
Istanbul, Turkey--Recapturing Istanbul, the "jewel" of Turkey, in Sunday's local elections has become President Recep Tayyip Erdogan's obsession ever since losing...
- In 1994, Erdogan was elected mayor of the city, setting him up to become president of the country, a seat he continues to occupy
- He named former minister Murat Kurum as his mayoral candidate, entrusting him to reconquer Istanbul and consolidate his power
Geostrategy
Japan to restart funding to UN Palestinian refugee agency
Tokyo, Japan--Japan is preparing to resume funding to the UN's crisis-hit Palestinian refugee agency (UNRWA), which coordinates nearly all aid...
- Japan like many other countries paused funding after Israel claimed that 12 of UNRWA's 13,000 Gaza employees were involved in the deadly October 7 Hamas attack
- The UN has launched both an internal and an independent investigation but has said Israel has not provided it with any evidence to support the claim against the workers
What has gone wrong for Saudi-backed Newcastle?
Despite qualifying for the Champions League for the first time in 20 years, Newcastle still had to tread a fine...
- Eddie Howe's men are languishing in 10th place in the Premier League with 10 games to go and any hope of the club's first major trophy since 1969 is over for another year
- In a season in which the Premier League's profit and sustainability rules (PSR) have begun to bite, few clubs have been as affected as Newcastle
Geostrategy
ICJ orders Israel to ensure humanitarian aid in Gaza
The International Court of Justice said in its order that Israel should "take all necessary and effective measures to ensure,...
- The court said that Palestinians in Gaza are no longer facing only a risk of famine, but... famine is setting in
- At the ICJ, South Africa has charged that Israel is perpetrating a genocide in Gaza
Business
Embracer sells Borderlands
The sale is expected to be completed by June-end .
- The sale would reduce the company's net debt by around $300-327 million, the group said in a statement
- Gearbox will join a Take-Two line-up that includes the likes of "Grand Theft Auto" maker Rockstar Games and 2K
Geostrategy
White House rolls out ‘concrete safeguard’ policies for federal AI
Washington, US - "Concrete safeguards" for government use of artificial intelligence were announced by the White House on Thursday, as it...
- VP Kamala Harris said the AI tools to be used by government agencies would be verified to make sure they do not endanger the rights and safety of Americans.
- She gave the example of a Veterans Administration hospital that uses AI for medical diagnostics, saying it would need to first demonstrate results are not biased.
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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
TotalEnergies net profit soars despite lower oil prices
Paris, France -- French oil and gas giant TotalEnergies reported on Thursday a sharp increase in third-quarter net profit despite...
Business
Company News
Latest News
Trump’s global trade policy faces test, hours from tariff deadline
The last-gasp scramble to strike bilateral accords came as an appeals court in Washington considered the legality behind Trump's strategy...
Economy
Microsoft valuation surges above $4 trillion as AI lifts stocks
Shares of Microsoft vaulted 5.3 percent after it reported $27.2 billion in quarterly profits as it touted massive investments in...
Business
‘Gaza, ours forever’: Settlers push to reclaim land amid devastation and political shifts
Within sight of Gaza, the devastated Palestinian enclave ravaged by nearly 22 months of war, hundreds of Israeli settlers marched...
Geostrategy
Most Read
Economy
Trump hits India with 25% tariff and ‘penalty’ over Russia ties
US President Donald Trump said Wednesday that imports from India will face 25 percent tariffs, while also announcing an unspecified...
- The measures will kick in on Friday, Trump posted on his Truth Social platform, adding to a bevy of other tariff hikes -- some up to 50 percent -- set to take effect the same day
- He had previously issued multiple delays to his so-called "reciprocal" tariffs since first announcing them in early April, while instituting an interim 10 percent baseline
Geostrategy
UAE begins pipeline project to ease Gaza water shortage
Jerusalem, Undefined -- The United Arab Emirates has begun construction on a major pipeline to carry desalinated water from Egypt...
- Technical teams sent by the UAE have started transporting equipment needed for the project, the Emirati state news agency WAM reported.
- The project would link a desalination plant in Egypt to the Al-Mawasi area along Gaza's coast and could supply about 600,000 people daily, COGAT said.
Arts & Culture
Thousands of carpets sunbathe at Turkish resort
From June-Sept, in harvested fields cleared of stubble, merchants bring their cargo to age in the sun, tempering the bright...
- In the past, up to 60,000 carpets were processed in each three month drying season in the Dosemealti district.
- But today he is one of the last ones to do so, with around 15,000 carpets stored side by side on a 40-hectare (100 acre) area.