Microsoft holds 27% of OpenAI in revamped partnership
San Francisco, United States - Microsoft and OpenAI announced Tuesday a sweeping overhaul of their landmark artificial intelligence (AI) partnership,...
Business
OpenAI says a million ChatGPT users talk about suicide
San Francisco, United States -- Data from ChatGPT-maker OpenAI suggest that more than a million of the people using its...
Geostrategy
Business
Asian markets struggle as US data dents Fed rate cut optimism
Equities across the world had surged Thursday in response to the central bank's closely watched dot plot projection that it...
- All three main US indexes clocked up record highs for a second straight day on the back of a tech rally as traders contemplated an end to the era of two-decade-high rates.
- However, Asia struggled to maintain the momentum after a string of data reminded investors that the world's largest economy was still in rude health.
Geostrategy
UK, Australia call for ‘immediate cessation of fighting’ in Gaza
Adelaide, Australia--Britain and Australia declared the need for an "immediate cessation of fighting" in Gaza, as diplomatic pressure built on Israel...
- The allies issued a statement that stressed the "urgency of an immediate cessation of fighting in Gaza to allow aid to flow and hostages to be released"
- The UK's call for an "immediate cessation of fighting" is a sign that Britain is also growing anxious about the toll of what Israel calls Operation Swords of Iron.
Blinken heads to Israel to press for ‘immediate’ truce in Gaza war
After talks in Saudi Arabia and Egypt, Blinken flies to Israel on Friday, his sixth trip to the region since...
- United States said it would submit for a vote on Friday a draft to the Security Council on the need for an "immediate ceasefire as part of a hostage deal."
- Fighting in Gaza this week has centered around Al-Shifa hospital, with Israel also vowing to launch a new ground assault in overcrowded Rafah
Business
Italy’s Enel doubles net profit
Its net profit spiked to US$3.7 billion in 2023.
- Enel said that before exceptional items, profit rose 21 percent to $7.04 billion, in line with the company's objectives
- The company's revenue fell 32 percent to $103.62bn as prices declined as part of a "normalization of the energy sector"
Geostrategy
Israel spy chief to return to Qatar for Gaza truce talks
The Israeli prime minister's office said that Benjamin Netanyahu approved an Israeli delegation led by Mossad head David Barnea to...
- Barnea is to meet CIA director, Qatari prime minister and Egypt's intelligence chief
- Israel believes about 130 remain in Gaza, including 33 who are presumed dead
Economy
Eurozone business activity stabilizes in March
Brussels, Belgium - Business activity in the eurozone stabilized in March thanks largely to a "modest recovery" in the service sector,...
- "Business activity in the euro area came close to stabilizing in March" with "only a marginal decline in output of goods and services", the survey said.
- The ECB has kept its interest rates steady since October, following an unprecedented series of increases to tame what was red-hot inflation.
Geostrategy
Poorer countries need money before raising climate targets, says COP29 head
Copenhagen, Denmark - Developing countries should not have to set stricter targets for cutting their carbon emissions before funds are available...
- Addressing the meeting, Azerbaijan's Mukhtar Babayev said "there is a growing gap between the needs of developing countries and what's available.
- This year, "finance will lie at the heart of climate diplomacy", said Babayev, the ecology and natural resources minister of Azerbaijan, host of COP29 climate summit.
Business
Lamborghini sales up in 2023
The deliveries sped up 9.5 percent to 10,112 vehicles.
- 2023 was the best year ever recorded," the brand said in a press release, with sales up 12.1 percent to US$2.9 billion
- Operating profit reached $785 million, up 17.8 percent, with operating margins widening to 27.2 percent, said Lamborghini
Business
Will sign US$13.7bn deal with Airbus, says Korean Air
SEOUL, SOUTH KOREA – South Korean flag carrier Korean Air said on Thursday it will sign a US$13.7 billion deal with...
- The move comes after the European Union approved the airline's takeover of smaller rival Asiana.
- The deal involves the purchase of 27 A350-1000 and six A350-900 aircraft, Korean Air said.
Geostrategy
Death toll in Israeli attack on West Bank refugee camp rises to 4
"Palestine Red Crescent ambulance teams have just transported an 18-year-old young man who was killed by the Israeli occupation forces...
- Two of the four Palestinians were killed by an air strike and two by live bullets, the Red Crescent said.
- More than 430 Palestinians have been killed in the territory by Israeli troops or settlers since Oct 7.
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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
Microsoft holds 27% of OpenAI in revamped partnership
San Francisco, United States - Microsoft and OpenAI announced Tuesday a sweeping overhaul of their landmark artificial intelligence (AI) partnership,...
Business
Company News
Latest News
Humanoid robots embodiment of China’s AI ambitions
Shanghai, China -- Serving craft beer, playing mahjong, stacking shelves and boxing, the dozens of humanoid robots at Shanghai's World...
Geostrategy
US says tariff deadline of Aug 1 is firm, no extensions
Washington, United States -- The US deadline of August 1 for imposing tariffs on its trading partners is firm and...
Economy
Israel declares Gaza fighting pause amid deepening hunger crisis
Israel imposed a total blockade on Gaza on March 2 after ceasefire talks broke down. In late May, it began...
Geostrategy
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Economy
US Fed poised to hold off on rate cuts, defying Trump pressure
Policymakers at the independent Federal Reserve have kept the benchmark lending rate steady since the start of the year as...
- With Trump's on-again, off-again tariff approach, Fed officials want to see economic data from this summer to gauge how prices are being affected.
- When mulling changes to interest rates, the central bank, seeks a balance between reining in inflation and the health of the jobs market.
Geostrategy
UNRWA chief says Gaza aid airdrops will not stop ‘starvation’, solve food shortages
The humanitarian situation in the Palestinian territory has gravely deteriorated in recent days, with international NGOs warning of soaring malnutrition...
- "Airdrops will not reverse the deepening starvation. They are expensive, inefficient & can even kill starving civilians," UNRWA chief Philippe Lazzarini wrote on X
- An Israeli official told AFP on Friday that aid drops in Gaza would resume soon, adding they would be conducted by the United Arab Emirates and Jordan
Geostrategy
Syria says meeting with Israeli officials sought to ‘contain escalation’
Syrian diplomatic source said Saturday that a US-mediated meeting with Israeli officials in Paris this week sought to "contain the...
- Israel launched strikes this month on Damascus and Druze-majority Sweida province, saying it was acting in support of the religious minority
- On Thursday, US special envoy for Syria Tom Barrack had said he held talks with unspecified Syrian and Israeli officials in Paris