Amazon adds AI muscle to connected home lineup
New York, United States - Amazon on Tuesday unveiled the latest generation of connected products, featuring enhanced artificial intelligence capabilities...
Business
Trump gives Hamas ultimatum of ‘three to four days’ on Gaza deal
The plan calls for a ceasefire, the release of hostages by Hamas within 72 hours, a disarmament of Hamas and...
Geostrategy
Business
Diamond industry adopts tracking as Russia sanctions loom
Antwerp, Belgium - As European capitals prepare to implement long-awaited sanctions on Russia's diamond exports, Belgian traders are bracing for new...
- Russian stones accounted for around a third of the global market before its Ukraine invasion, and G7's decision to ban trade in them could have broad repercussions
- The European Union is drawing up bans on Russian diamonds as part of its 12th package of sanctions to tighten the vice on Moscow's war economy and cut off its funds
Business
Foxconn to invest $1.54bn more in India
The firm announced in May to purchase land for $37 million in India.
- Chairman Young Liu had said during an earnings call in August that the company saw the potential to invest "several billion dollars" in India
- The company is planning to expand its India operations to "critical components" for consumer electronics and electric vehicles to boost its competitiveness
Geostrategy
Riyadh comfortably outbids rivals to win World Expo 2030 bid
The date of 2030 is hugely symbolic for Saudi, coinciding with the key milestone in the Vision 2030 programme of...
- Needing only one round of voting and securing the necessary two-thirds majority, Riyadh won 119 votes, South Korea's Busan 29 and Italian capital Rome 17.
- Saudi Foreign Minister Prince Faisal bin Farhan in his final presentation pledged an "unwavering commitment to collaborate with all nations to deliver an Expo built by the world.
Geostrategy
All 41 Indian workers trapped in tunnel for 17 days rescued
Silkyara Tunnel, India -- Indian workers were greeted with wild cheers and flower garlands Tuesday as rescuers safely brought out all...
- With beaming smiles, the rescued men were welcomed as heroes after being hauled through 57 meters (187 feet) of steel pipe on stretchers specially fitted with wheels.
- Prime Minister Narendra Modi told the workers in a statement that their "courage and patience is inspiring everyone".
EasyJet rebounds into annual profit
Profit after tax stood at £324 million.
- Profit after tax stood at $409 million in the 12 months to the end of September on higher demand and increased fares, EasyJet said
- "We see a positive outlook for this year with airline and holidays bookings both ahead year on year," EasyJet chief executive said in the statement.
Climate change already reducing global GDP: report
Low- and middle-income countries have experienced a combined loss in capital and GDP totaling $21 trillion, about half of the...
- The report estimated that impacts from human-caused climate change cut 6.3 percent from global economic output last year, when weighted across populations
- "The world is trillions of dollars poorer because of climate change and most of that burden has fallen on poor countries," said lead author James Rising
Fashion giant Shein to go public
Shein was valued at $66 billion earlier this year.
- The company was valued at $66 billion earlier this year, and a public presence by the company in the United States could make huge waves on Wall Street
- Shein recorded $23 billion in revenue and $800 million in net profit in 2022, Journal said reporting that firm has told investors it has posted new records in 2023
Israeli president tells Musk he has ‘huge role’ in anti-Semitism fight
The meeting came after the world's richest person visited a kibbutz community devastated in attacks by Hamas fighters on October...
- Earlier Monday, Netanyahu and Musk discussed "security aspects of artificial intelligence" with senior defense officials, the Prime Minister's Office said
- Netanyahu told Musk he hoped to resume normalization talks with Saudi Arabia after Hamas's defeat and "expand the circle of peace beyond anything imaginable."
Geostrategy
Eleven more Gaza hostages released as Israel-Hamas truce extended
Shortly after the arrival of the hostages was confirmed, Israel's prison authority said 33 Palestinian civilians had been released. The...
- Hamas announced the agreement to prolong the truce by 48 hours shortly before it was due to end Tuesday
- Qatar, with the US and Egypt has been engaged in intense negotiations to establish and prolong the truce in Gaza
Business
Tesla sues Swedish state over strike fallout
Stockholm, Sweden - Electric carmaker Tesla on Monday filed a lawsuit against the Swedish state over a strike by postal workers...
- Tesla is currently facing strikes on multiple fronts in Sweden over its refusal to sign a collective wage agreement for its mechanics
- Tesla has asked the courts to compel the Swedish Transport Agency to make sure plates for vehicles registered with the agency "come into Tesla's possession"
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
Amazon adds AI muscle to connected home lineup
New York, United States - Amazon on Tuesday unveiled the latest generation of connected products, featuring enhanced artificial intelligence capabilities...
Business
Company News
Latest News
Israel’s US ambassador called home over interview remarks
Jerusalem, Undefined - Israel's ambassador to Washington is being summoned home on the instructions of a government disciplinary body to...
Geostrategy
Syria hails US lifting of Assad-era sanctions
The move was formalised Friday after being announced by Trump on a Gulf tour this month during which he shook...
Geostrategy
Iran-US nuclear talks: key points of contention hampering progress
Tehran, Iran - Long-time adversaries Iran and the United States held a fifth round of Oman-mediated nuclear talks on Friday...
Geostrategy
Most Read
Geostrategy
Palestinian faction chiefs quit Damascus amid pressure
The leaders of pro-Iran Palestinian factions close to former ruler Bashar al-Assad have left Syria under pressure from the new...
- In the Yarmuk Palestinian camp in the Damascus suburbs which was devastated during the war, factional banners usually at the entrance were gone
- Many Palestinians fled to Syria in 1948 following the creation of Israel, and from the mid-1960s Syria began hosting the leadership of Palestinian factions
Science
Doubt cast on claim of ‘hints’ of life on faraway planet
Paris, France - When astronomers announced last month they might have discovered the most promising hints of alien life yet...
- Several recent studies looking into the same data have found that there is not enough evidence to support such lofty claims
- The debate revolves around the planet K2-18b, which is 124 light years away in the Leo constellation
Economy
UAE tops 50C in highest May temperature on record
The United Arab Emirates registered a sizzling 50.4 degrees Celsius on Friday, the highest on record for May, following weeks...
- Worshippers at Friday prayers reported feeling faint and some residents appeared unsteady on their feet, even in a country that is accustomed to extreme temperatures
- The highest temperature was recorded in an area of Abu Dhabi, the capital of the oil-rich Gulf state that lies in one of the world's hottest regions