Elon Musk halfway to becoming world’s first trillionaire: report
Billionaire Elon Musk, the world's richest person, is nearly halfway to becoming the planet's first trillionaire, Forbes magazine reported Wednesday.
Business
Google infuses Gemini generative AI into home gadgets
Paris, France -- Google said Wednesday it was adding its Gemini generative AI assistant to its smart home devices, saying...
Business
Business
Spotify cuts 17% jobs
Spotify has invested over $1 billion into podcasts alone.
- Spotify in October posted a rare quarterly operating profit of 32 million euros ($34.60m), compared to a loss of 228 million ($246.54m) for the same period a year earlier
- Spotify has invested heavily since its launch to fuel growth with expansions into new markets and, in later years, exclusive content such as podcasts
Geostrategy
Saudi energy minister calls Western climate pledges ‘small change’
"Unlike the small change offered for loss and damage from our partners in developed countries, the Kingdom through its South-South...
- The loss and damage fund for vulnerable nations, a major win at COP28, has attracted about $655m so far, a sum criticized as insufficient by campaigners.
- The prince's remarks were the latest sign of sharp differences around tackling the climate crisis as negotiators from around the world attempt to hammer out an agreement in Dubai.
Business
Gold strikes fresh record high as rate cut bets surge
Hong Kong, China - Gold prices soared to a record high above $2,100 on Monday as traders grow increasingly confident the...
- The precious metal struck $2,135.39 in early Asian trade, topping the previous all-time high set in 2020, during the pandemic
- Bets on a drop in rates have weighed on the dollar, which has in turn made gold cheaper for international buyers
Geostrategy
Rights organizations sue Netherlands over F-35 parts to Israel
The case concerns US-owned F-35 parts stored at a warehouse in the Netherlands and then shipped to several partners, including...
- A rights group said the export "made the Netherlands complicit in violations of the laws of war and the collective punishment of Gazans
- "By supplying weapons parts, the Netherlands runs the risk of becoming complicit in violations of international humanitarian law," said Dagmar Oudshoorn, director Amnesty
Geostrategy
Israel launches offensive in southern Gaza amid mounting civilian deaths
Armored personnel carriers and bulldozers were also seen as Israel expanded its operations against Hamas in response to the Palestinian...
- "Despite what has been assured, attacks in the south of Gaza are every bit as vicious as what the north endured," said UNICEF spokesman James Elder.
- Israel's ally US intensifies calls for the protection of Gaza's civilians, with Vice President Kamala Harris saying that "too many innocent Palestinians have been killed".
Economy
Turkey’s inflation surges to 62 percent in November
The latest batch of data show higher borrowing costs starting to slow down consumption -- a key goal of the...
- The TUIK state statistics agency said the rate moved to 61.98% last month from 61.36% in October
- The country's central bank expects inflation to peak in May of next year at between 70 and 75 percent
Business
PwC to set up blocks preventing exam cheating after $7 mn fine
The Public Company Accounting Oversight Board (PCAOB) imposed the penalty on the China and Hong Kong offices of the "Big...
- The risk was that around 200 Chinese companies such as e-commerce giant Alibaba could be ousted from US stock exchanges if they did not comply with American standards
- PCAOB chair Erica Williams said the board was on track to inspect all Hong Kong and mainland China firms that audited US-listed companies by the end of 2024
White House says Israel ‘making effort’ to protect Gaza civilians
According to Hamas, more than 15,500 people have been killed in Gaza since the beginning of the war, but Kirby...
- John Kirby insisted that US intelligence was unaware of any secret, advance Hamas blueprint for its October 7 attack on Israel that triggered the conflict
- The New York Times reported last week that Israeli authorities had obtained such a document a year before the attack occurred
Bitcoin soars past $40,000 on optimism for US trading approval
FTX, the world's second-biggest crypto exchange, dramatically went under last year, and its boss Sam Bankman-Fried faces up to 110...
- The digital asset has skyrocketed this year, gaining nearly 150 percent, with expectations growing that US regulators will allow the creation of exchange-traded funds
- The currency remains well below its record value of almost $69,000 in 2020, but the rally marks a recovery following the high-profile scandals and collapses that rocked the crypto
Alaska Airlines to buy Hawaiian Airlines
Based in Seattle, Alaska Airlines serves the western US.
- Both brands will continue to exist under the terms of the agreement, which could take up to 18 months to finalize
- The combined airlines would have a fleet of 365 narrow and widebody aircraft and reach 138 destinations
Most Read
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
Elon Musk halfway to becoming world’s first trillionaire: report
Billionaire Elon Musk, the world's richest person, is nearly halfway to becoming the planet's first trillionaire, Forbes magazine reported Wednesday.
Business
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Global economic outlook worsens, AI emerges as both catalyst and risk
Geneva, Switzerland – The global economic outlook has worsened since the start of the year, as rising economic nationalism and...
Economy
US suspends student visa processing in fresh swipe at foreign applicants
President Donald Trump's administration is seeking unprecedented control over leading US universities, including revoking foreign student visas and deporting some...
Geostrategy
Hajj pilgrimage to begin on June 4: Saudi state media
Riyadh, Saudi Arabia - Saudi Arabia announced on Tuesday that the annual Muslim hajj pilgrimage to Mecca would begin on...
Arts & Culture
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Geostrategy
Iran president in Oman as nuclear talks progress
Iranian President Masoud Pezeshkian on Tuesday began a two-day visit to Oman, which is mediating ongoing nuclear talks between Tehran...
- Pezeshkian travelled to Muscat looking to promote "peace and stability", he said, two days after US President Donald Trump described the latest negotiations as "very, very good".
- "We hope to engage in dialogue to reach a shared perspective and a common voice on promoting peace and stability in the region," Pezeshkian said in a televised speech
US no longer recommends Covid shots for children, pregnant women
Washington, United States - The US will no longer recommend Covid-19 vaccines for children and healthy pregnant women, Health Secretary...
- The change follows last week's announcement by Food and Drug Administration officials that they would limit approval of Covid shots to adults aged 65 and older
- It comes as Kennedy who has long promoted misinformation about vaccines in general and the Covid shots in particular pushes to overhaul federal public health policy
Arts & Culture
Turkey’s 5,000-year-old bread finds new life
Round and flat like a pancake, 12 centimeters (five inches) in diameter, the bread was discovered during excavations at Kulluoba,...
- In the early Bronze Age, a piece of bread was buried beneath the threshold of a newly built house in what is today central Turkey.
- Now, more than 5,000 years later, archaeologists have unearthed it, and helped a local bakery to recreate the recipe -- with customers lining up to buy it.