INSEAD Day 4 - 728x90

DEWA posts record H1 profit

Revenue reaches record $4.04 billion.

Tabreed H1 revenue $308m

Blurb: Profit reaches $52 million in H1

ADNOC L&S to expand fleet

It will acquire 11 carriers for $1.3bn.

Empower profit climbs 16%

Dubai district cooling demand lifts earnings

Burjeel profit nearly doubles

Healthcare demand drives stronger earnings.

24,620 Palestinians killed in Gaza as Israel continues bombardment

In the occupied West Bank, where violence has soared alongside the war in Gaza, an Israeli raid continued into a...
  • Gaza's health ministry said 93 people had been killed overnight, including 16 in a strike on a house in the southern city of Rafah, where many people have fled.
  • In the occupied West Bank, violence has escalated to a level not seen since the second Palestinian intifada, or uprising, of 2000-05.

Japan literary laureate admits using ChatGPT for her novel

TOKYO, JAPAN - The winner of Japan's most prestigious literary award has acknowledged that about "five percent" of her futuristic novel...
  • The 33-year-old author of Tokyo-to Dojo-to openly admitted that AI heavily influenced her writing process as well.
  • Set in a futuristic Tokyo, the book revolves around a high-rise prison tower and its architect's intolerance of criminals.

WHO official terms Gaza hospitals in ‘rapid deterioration’

Emergency medical team coordinator Sean Casey said that during some five weeks he spent in Gaza, he saw hospital patients...
  • WHO official saw patients "waiting to die in a hospital that has no fuel, no power, no water"
  • Hospitals are facing a deluge of patients while operating with minimal staff, the official said

Europe new car sales rebound in 2023: industry group

Automakers are facing a 2035 deadline set by the European Union to phase out sales of new combustion engine vehicles....
  • Sales of new electric cars shot up by 37 percent year-on-year and accounted for 14.6 percent of those overall, European Automobile Manufacturers' Association said
  • Figures marked a stark turnabout from those of 2022, when new vehicle registrations dropped to their lowest levels since 1993 as component shortages hindered automakers

Samsung’s AI pivot

Part of the company's bid to reclaim smartphone throne.
  • Mobile devices will become the primary access points for AI, with Samsung aiming to be a leader on that path, Samsung president T.M. Roh said
  • The premium S24 Ultra unveiled at an event was said to have the capability to translate foreign language phone calls and texts while they were taking place

China says willing to mediate between Pakistan and Iran after strikes

"The Chinese side sincerely hopes that the two sides can exercise calm and restraint and avoid an escalation of tension,"...
  • Tehran said it had summoned the Pakistani charge d'affaires in response to the attack, which killed at least seven people
  • Nuclear-armed Pakistan and neighbouring Iran are both battling simmering insurgencies along their sparsely populated border regions

Pakistan strikes ‘terrorist hideouts’ inside Iran

Iran and Pakistan routinely blame each other for allowing militants to operate from the other's territory to launch attacks, but...
  • Iranian media reported three women and four children were killed in the attack
  • The attack comes after Iran confirmed hitting "a terrorist group" late Tuesday in Pakistan

US, UK launch new strikes on Houthi targets in Yemen

A Houthi military official told the rebels's Al-Masirah TV that fighters will continue to target Israeli ships heading to "the...
  • Houthi rebels vowed to continue attacking shipping in the Red Sea in support of Palestinians
  • The US and Britain attacked nearly 30 sites in Yemen with more than 150 munitions last week

Bayer to cut jobs in Germany

The slashing of jobs follows huge third-quarter losses.
  • According to a company press release, the job cuts will be enforced immediately and completed by the end of 2025
  • The pharmaceutical giant, the makes Aspirin, employs around 22,000 in Germany and more than 100,000 worldwide

Apple loosens grip on iPhone apps

Apple will permit developers to include buttons or links in apps.
  • The move came after the US Supreme Court on Tuesday declined to hear appeals by Apple and Epic of a lower court ruling in which the iPhone maker was seen as the victor.
  • Epic in 2020 launched a case aiming to break Apple's grip on the App Store, accusing the tech giant of operating a monopoly in its shop for digital services

China accuses US of ‘double standards’ over new tariffs threat

Beijing, China -- China accused the United States of "double standards" on Sunday, after President Donald Trump threatened an additional...

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European, Iranian diplomats to meet as Trump mulls joining Israel campaign

Iranian Foreign Minister Abbas Araghchi will meet with his French, German, British and EU counterparts in Geneva on Friday to...

2,000-year-old Roman wall paintings unearthed

The plaster, which was discovered on a construction site in 2021, once decorated around 20 internal walls of a high-status...

Trade war worsens foreign investment outlook: UNCTAD World Investment Report

Presenting the annual report at a press conference, UNCTAD chief Rebeca Grynspan said it contained a "clear and urgent" message...
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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US Fed keeps interest rates unchanged in face of Trump criticism

Fed Chair Jerome Powell told reporters the central bank would make better decisions if it waited a few months to...
  • For now, he expects to learn more "over the summer," while officials appear increasingly divided on whether they can cut interest rates at all in 2025.
  • The Fed kept the benchmark lending rate between 4.25 percent and 4.50 percent at the end of its two-day meeting, with officials penciling in two rate reductions this year.

Asian stocks drop after Fed warning, oil dips with Mideast in focus

Hong Kong, China - Asian stocks fell Thursday after the Federal Reserve warned Donald Trump's trade war would likely reignite...
  • With Trump increasingly calling for the bank to slash rates, Powell said: "We'll make smarter and better decisions if we just wait a couple of months."
  • Hong Kong led losses, falling more than one percent, while Tokyo, Shanghai, Sydney, Singapore, Seoul, Wellington, Taipei, Manila and Jakarta were also in the red

Almost 3,000 Australians seek to flee Israel-Iran conflict

Australia has started evacuating almost 3,000 citizens caught up in the rapidly spiralling conflict between Israel and Iran, Foreign Minister...
  • rescue efforts had been hampered by missile barrages that made it "too risky" for civilian aircraft to land in either country, Wong said
  • Some 1,500 Australians had registered to be evacuated from Iran, while more than 1,200 were seeking to get out of Israel, she said