Iran declares major lender bankrupt
Iran declared one of the country's largest private banks bankrupt with its assets absorbed by the state, official media reported...
Economy
China vows massive high-tech sector development in next decade
Beijing, China -- China will develop its high-tech sector on a massive scale in the next decade, top officials vowed...
Economy
Geostrategy
Italy begins probe into OpenAI’s new video tool Sora
ROME, ITALY – The European country's data protection watchdog - Italian Data Protection Authority - said on Friday it has launched...
- The Italian Data Protection Authority said it was concerned over “the possible implications for the processing of personal data of users.”
- The watchdog said OpenAI -- which also makes chatbot ChatGPT and the image-generating DALL-E -- has 20 days to provide information.
Geostrategy
US plan for Gaza aid transfer through sea dismissed by UN expert
In his annual State of the Union address to Congress, President Joe Biden said the US military would "lead an...
- But Michael Fakhri, the United Nations special rapporteur on the right to food, dismissed the measure.
- Neither a pier, nor the increasing airdrops over Gaza would "prevent starvation and famine by any definition", Fakhri said.
Geostrategy
Zelensky to discuss war, Black Sea security during Turkey visit
NATO member Turkey has sought to maintain good relations with Moscow and Kyiv throughout the two-year war, with Erdogan pitching...
- NATO member Turkey has sought to maintain good relations with Moscow and Kyiv throughout the two-year war, with Erdogan pitching himself as a key go-between.
- A Turkish diplomatic source told AFP that Ankara "will once again emphasize that our strong support for the territorial integrity, sovereignty and independence of Ukraine.
Geostrategy
Muslims pray for end to Palestinian suffering as Ramadan nears
Other parts of the Islamic world may be grappling with their own challenges, from conflicts to high inflation. But many...
- While international mediators were hoping for a truce in time for Ramadan, no breakthrough had come by Friday.
- Much of the territory of 2.4 million people has become a hellscape of bombed-out neighborhoods, emaciated children and mass graves.
Geostrategy
Expanding Israeli settlements a ‘war crime’: United Nations
UN rights chief warned Volker Turk said there had been a drastic acceleration in Israeli illegal settlement building in the...
- "Such transfers amount to a war crime that may engage the individual criminal responsibility of those involved," Turk said in a report to the UN Human Rights Council.
- Reported Israeli plans to build another 3,476 settler homes in the West Bank colonies of Maale Adumim, Efrat and Kedar "fly in the face of international law", he said.
Geostrategy
Mothers of imprisoned Palestinians from West Bank under great stress
RAMALLAH, PALESTINIAN TERRITORIES – "I don't sleep anymore," Latifa Abu Hamid said while looking at pictures of her children hanging on...
- Hamid lives in a house in Ramallah, in the occupied West Bank, given to her by the president of the Palestinian Authority, which has its seat in the city.
- Palestinian prisoner advocacy groups say the number of incarcerated Palestinians has jumped from 5,200 before October 7 to about 9,000.
Geostrategy
Biden warns Israel not to use Gaza aid as ‘bargaining chip’
Using his annual State of the Union address to deliver some of his strongest comments yet about the five-month-long war,...
- Biden's address was delivered to Congress as hopes dimmed for a new truce after Hamas negotiators left talks to consult with the movement's leadership in Qatar
- US president, who is facing political pressure over his support for Israel despite the worsening humanitarian crisis in Gaza, stressed "no US boots will be on the ground."
Geostrategy
Spain announces US$21.87m in funding to UN Palestinian refugee agency
Madrid, Spain--Spain said Thursday it would give an additional $21.87 million to the UN Palestinian refugee agency UNRWA, which is facing...
- UNRWA has been at the centre of controversy since Israel accused about a dozen of its employees of involvement in the Hamas attack on Israel
- Jose Manuel Albares, Spain's Foreign Minister, announced the extra funding at a joint news conference in Madrid with UNRWA chief Philippe Lazzarini
Geostrategy
UN aid official presses for aid delivery to Gaza by land route
The UN aid coordinator for the Palestinian territory Sigrid Kaag said her message to UN Security Council was that the...
- She said the diversification of the supply routes via land remains the optimal solution
- Kaag noted the complicated border inspection process was the main obstacle
Geostrategy
Biden orders US military to set up temporary aid port in Gaza
In the wasteland of Jabalia, northern Gaza, Palestinians gathered to receive meals at a distribution point. "There is no gas...
- Hopes dimmed for a new truce after Hamas negotiators left talks with mediators in Egypt to consult with the movement's leadership in Qatar
- The health ministry in Hamas-run Gaza reported 83 more people had been killed over the previous 24 hours, adding to a toll it says has reached 30,800
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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
Iran declares major lender bankrupt
Iran declared one of the country's largest private banks bankrupt with its assets absorbed by the state, official media reported...
Economy
Company News
Latest News
New clashes rock Syria’s Druze heartland as tribal fighters reinforce Bedouin
Armed tribes supported by Syria's Islamist-led government clashed with Druze fighters in the community's Sweida heartland on Friday, a day...
Geostrategy
Hamas armed wing says Israel blocking ceasefire and hostage release talks
The armed wing of the Palestinian militant group Hamas on Friday accused Israel of blocking a deal in talks for...
Geostrategy
Iraq says drones that struck military radar are foreign-made, doesn’t identify perpetrators
Sabah al-Numan, the military spokesman for the prime minister, said that Iraq identified "the origin of the drones used in...
Geostrategy
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Business
Ajman’s real estate sector deals up 37% in H1 to hit $3.37bn
Ajman, UAE -- The real estate sector in the Emirate of Ajman recorded real estate transactions worth AED 12.4 billion...
- Sheikh Abdulaziz bin Humaid Al Nuaimi, Chairman of the Department of Land and Real Estate Regulation in Ajman, stated the sector plays a pivotal role in the emirate's growth.
- He said the H1 results indicated a rising demand for properties and confirm the emirate’s attractiveness to investors and its strong competitive edge.
Geostrategy
G20 nations agree central bank independence ‘crucial’
The statement came after months of escalating attacks by US President Donald Trump on Federal Reserve boss Jerome Powell. The...
- This week he suggested he could be dismissed for "fraud" over his handling of a renovation project at the Federal Reserve headquarters.
- The G20 is made up of 19 nations and two regional organizations and its members account for more than 80 percent of the world's economic output.
Business
Gulf Air orders 12 Boeing 787 Dreamliners for $4.6 billion
San Francisco, United States -- US aviation giant Boeing on Thursday signed a contract worth billions of dollars to sell...
- The order comes one month after an Air India Boeing 787 crashed shortly after takeoff, killing a total of 260 people on the plane and on the ground.
- Boeing delivered 150 commercial aircraft in the second quarter, its highest number of deliveries in that quarter since 2018.