Pakistan says peace talks with Afghanistan ‘failed’
Islamabad, Pakistan - Pakistan said Wednesday that negotiations for a lasting truce with Afghanistan had "failed to bring about a...
Geostrategy
Amazon to cut 30,000 office jobs: media reports
Amazon will lay off tens of thousands of office workers as the e-commerce and tech giant trims costs amid ramped-up...
Business
Economy
IMF chief urges countries to strengthen independence of central banks
"Financial stability benefits the whole economy and reduces the risk that the central bank becomes reluctant to raise interest rates...
- "Central bank independence matters for price stability -- and price stability matters for consistent long-term growth," IMF managing director Kristalina Georgieva wrote.
- She added that better control of inflation is possible when both central banks and governments play their roles
UN General Assembly to address AI’s potential risks, rewards
The resolution focuses more on the technology's positive potential, and calls for special care "to bridge the artificial intelligence and...
- The text, co-sponsored by dozens of countries, emphasizes the necessity of guidelines "to promote safe, secure and trustworthy artificial intelligence systems"
- The draft resolution seeks "to promote, not hinder, digital transformation and equitable access" to AI in order to achieve the UN's Sustainable Development Goals
Meta, Microsoft slam Apple over app store policy
The four companies filed a rare joint amicus brief in a California court in charge of applying a ruling that...
- The Apple Plan comports with neither the letter nor the spirit of the Court's mandate," Meta, Microsoft, X and Match said in their joint filing on Wednesday, in support of Epic
- The plan's "new restrictions are plainly designed to render alternatives to Apple's in-app purchases impractical for developers, and inaccessible to consumers," the companies said
Gold hits fresh record above $2,200 on rate cut hopes
The gains have been helped by a weaker dollar and the gold's attraction as a safe haven as geopolitical tensions...
- Equity markets in New York and across Asia surged and the dollar retreated
- Gold traders also joined the party to push the precious metal to as high as $2,220 per ounce
Business
Reddit to make trading debut on NYSE
It comes amid a slowdown in the tech sector IPOs.
- The company is set to debut Thursday on the NYSE under the ticker RDDT after an IPO priced at $34 dollars a share
- It was created in 2005 and was quickly sold to Conde Nast, the publisher of Vogue and the New Yorker magazine
‘US circulates draft UN resolution calling for immediate truce in Gaza’
"Of course, we stand with Israel and its right to defend itself... but at the same time, it's imperative that...
- We actually have a resolution that we put forward right now that's before the United Nations Security Council that does call for an immediate ceasefire, Blinken said
- The United States had previously used its UN Security Council veto to block the world body from calling for an immediate ceasefire in the Palestinian territory
Geostrategy
Saudi Arabia to donate US$40m for UN agency in Gaza
The funds, according to the King Salman Humanitarian Aid and Relief Centre (KSrelief), would support UNRWA's "humanitarian relief efforts in...
- Israel accused some of UNRWA's employees of involvement in the October 7 Hamas attack
- The UN has said that Israel has not provided it with any evidence for the allegations
Business
White House announces $20bn in grants, loans to boost Intel chip production
Washington, United States - The White House unveiled almost $20 billion in new grants and loans Wednesday to support Intel's US...
- Wednesday's $8.5 billion direct funding announcement is the largest of any grant made so far under the $52.7 billion 2022 CHIPS and Science Act.
- The money will help incentivize Intel to make more than $100 billion worth of investments, which will be one of the largest investments ever in US semiconductor manufacturing.
Geostrategy
UN warns record e-waste in 2022 a catastrophe for environment
On average, every person on earth generates roughly 7.8 kilograms (17 pounds 3 ounces) of e-waste each year, said the...
- Less than one quarter of the 62 million tons of e-waste produced in 2022 was recycled, resulting in heavy metals, plastics and toxic chemicals leaking from junked devices
- The scourge is only going to worsen as demand for new technologies, including solar panels and electric vehicles, outpaces the ability to recycle, the report by UN says
Economy
Cash-strapped Pakistan gets draft approval for $1.1 bn IMF payout
Islamabad, Pakistan - Pakistan reached a tentative deal to unlock a $1.1 billion tranche of an International Monetary Fund (IMF) bailout...
- Last summer, cash-strapped Pakistan sketched a $3 billion deal with the IMF as it battled a balance-of-payments crisis which brought it to the brink of default.
- After six days of talks in Islamabad, concluding Tuesday, the IMF said officials had reached a "staff-level agreement" to pay out the latest portion of the deal.
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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
Pakistan says peace talks with Afghanistan ‘failed’
Islamabad, Pakistan - Pakistan said Wednesday that negotiations for a lasting truce with Afghanistan had "failed to bring about a...
Geostrategy
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Iraqi women table tennis players chase Paralympic dreams
Diwaniyah, Iraq -- Iraqi table tennis player Nur al-Huda Sarmad adjusts her wheelchair before striking the ball into play, braving...
Arts & Culture
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...
Economy
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...
Geostrategy
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Geostrategy
Trump says Hamas ‘didn’t want’ Gaza ceasefire deal as talks break down
The US president argued that the Palestinian militant group was not ready to hand over the remaining captives in Gaza...
- An Israeli official meanwhile told AFP air drops of aid would resume soon over the Gaza Strip, where aid groups warned of surging numbers of malnourished children
- After US and Israeli negotiators quit indirect talks with Hamas in Qatar, Trump said that "it was was too bad. Hamas didn't really want to make a deal. I think they want to die."
Economy
China says balance between AI development, security ‘urgently requires consensus’
China's Premier Li Qiang warned Saturday that artificial intelligence development must be weighed against the security risks, saying global consensus...
- This week US President Donald Trump unveiled an aggressive low-regulation strategy aimed at cementing US dominance in the AI field
- Opening the World AI Conference (WAIC) in Shanghai on Saturday, Li emphasised the need for governance and open-source development
Geostrategy
Gaza civil defence says Israeli forces kill 28 people
Gaza's civil defence agency said Israeli military operations killed at least 23 people on Friday across the Palestinian territory, with...
- Civil defence spokesman Mahmud Bassal told AFP that five people were killed in a strike on Gaza City that hit a school building sheltering Palestinians displaced by the war
- Bassal said five others were killed when an Israeli strike hit a tent used by displaced Palestinians also in Gaza City, in the territory's north