Iran sanctions look set to return despite last-ditch China, Russia effort to secure a delay
China and Russia at a Security Council session on Friday put forward a draft resolution, seen by AFP, that would...
Geostrategy
Microsoft trims service to Israel over Gaza surveillance
San Francisco, United States - Microsoft on Thursday said it cut an Israeli defense unit's access to some cloud services...
Geostrategy
Geostrategy
Gaza refugee camps: born during first Arab-Israeli war
Over 760,000 Palestinians fled or were driven from their homes in what is referred to by Palestinians as the "Nakba"...
- More than two-thirds of the 2.4 million people living in Gaza are registered refugees. Israel has persistently rejected their "right of return", which the UN backed in 1948.
- Gaza's camps are among the most densely populated places on the planet, with over 620,000 people packed into less than 6.5 square kilometers of land.
Geostrategy
UAE to set up 150-bed field hospital in Gaza: official media
The United Arab Emirates, a wealthy Gulf monarchy, broke with Arab tradition to establish ties with Israel in the 2020...
- Five aircraft flew out of Abu Dhabi for Arish in northern Egypt carrying equipment and supplies for the 150-bed facility, says report
- The hospital's facilities will include anesthetics and surgery, gynecology and intensive care units "catering to both children and adults"
Business
Aramco profits down
The oil giant posted a 23% drop in profits for Q3 to US$32.58bn.
- The drop from $42.43 billion last year to $32.58 billion "principally reflects the impact of lower crude oil prices and volumes sold", the firm said
- It follows a drop in net profit for Aramco, one of the world's richest companies, of 19.25 percent in the first quarter and 38 percent in the second quarter compared to 2022
UBS posts bigger loss
Last year, the bank took over its Swiss rival Credit Suisse.
- Switzerland's largest bank UBS was in March strong-armed by Swiss authorities into a $3.25-billion takeover of Credit Suisse, to keep its closest domestic rival from going under
- UBS said that the third quarter included integration-related expenses of $2 billion, adding that "we have now stabilized Credit Suisse and continued to grow our franchise"
OpenAI sees a future of AI ‘superpowers on demand’
Dreams of the benefits of generative AI -- along with fears of the technology's risks -- have been hot topics...
- OpenAI is rolling out the ability to create custom "agents," called "GPTs," capable of handling specific tasks such as business negotiation advice
- Later this month, OpenAI will launch a GPT "store," and plans to add a way for developers to make money based on how many people use their GPTs
Geostrategy
Iran president to travel to Saudi Arabia for Gaza summit
The upcoming summit is being organised by the Organisation of Islamic Cooperation (OIC), a 57-member bloc of majority Muslim countries....
- The summit will take place one day after an emergency meeting of Arab League leaders on the war to be held in Riyadh
- Raisi and Mohammed bin Salman held their first phone call on October, both voicing support for the Palestinian cause
Geostrategy
Israel to take ‘security responsibility’ of Gaza: Netanyahu
The Israeli military has relentlessly attacked Gaza by air, land and sea since October 7, when Hamas militants launched a...
- Netanyahu disputed the health ministry's figures, which he said likely included Palestinian combatants
- Despite growing calls for a ceasefire from the UN head and other world leaders, Netanyahu rejected the call
Economy
China owed more than $1 trillion in Belt and Road debt: report
Crunching data compiled on Chinese financing of almost 21,000 projects across 165 countries, AidData said Beijing had now committed aid...
- Beijing says upwards of 150 countries stretching from Uruguay to Sri Lanka have signed up to the BRI, a global infrastructure push unveiled by President Xi Jinping a decade ago
- The first decade of the initiative saw China distribute huge loans to fund the construction of bridges, ports and highways in low and middle-income countries
Market Report
Stocks extend global rally as US jobs data cements rate hopes
Hong Kong, China - Markets rallied again Monday following another strong performance on Wall Street, as below-forecast US jobs data fanned...
- All three main indexes on Wall Street jumped Friday after the jobs reading, which also fueled bets on an interest rate cut by June.
- Asian markets tracked the rally in New York, with Tokyo more than two percent higher, while Hong Kong, Wellington, Manila and Jakarta were up more than one percent
Economy
$10 trn of ‘hidden costs’ on food and agriculture system per year, says UN
Paris, France - The food and agriculture system adds at least $10 trillion in "hidden costs" to the global economy every...
- The Food and Agriculture Organization said it conducted an analysis in 154 countries to determine the "true" cost of the agrifood system.
- The global quantified hidden costs totaled around $12.7 trillion in 2020, representing almost 10 percent of the global gross domestic product.
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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 sanctions look set to return despite last-ditch China, Russia effort to secure a delay
China and Russia at a Security Council session on Friday put forward a draft resolution, seen by AFP, that would...
Geostrategy
Company News
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Hamas releases video of two Israeli hostages alive in Gaza
Hamas's armed wing released a video on Saturday showing two Israeli hostages alive in the Gaza Strip, with one of...
Geostrategy
US and China prepare for trade talks as Trump floats tariff cut
Senior US and Chinese officials are in Switzerland this weekend for talks aimed at de-escalating a burgeoning trade war sparked...
Economy
Rubio urges India, Pakistan to communicate to ‘avoid miscalculation’
Washington, United States - US Secretary of State Marco Rubio urged India and Pakistan to restore direct communication to "avoid...
Geostrategy
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Geostrategy
Pakistan says India has brought neighbours ‘closer to major conflict’
Pakistan charged India Friday with bringing the nuclear-armed neighbours "closer to a major conflict", as the death toll from three...
- Most of the more than 50 deaths were in Pakistan during Wednesday's air strikes by India and included children
- Pakistani military sources said that its forces had shot down 77 Indian drones in the last two days
Geostrategy
Iran top diplomat to visit Saudi, Qatar before Trump tour
Iranian Foreign Minister Abbas Araghchi will visit Saudi Arabia and Qatar on Saturday, his ministry said, days before US President...
- Araghchi is due to hold talks with senior Saudi officials in Riyadh before heading to Doha for a conference on Arab-Iranian dialogue
- The Iranian top diplomat later said meetings in Saudi Arabia would cover the latest on the nuclear talks with the United States
Geostrategy
Kurdish PKK says held ‘successful’ meeting on disbanding
The outlawed Kurdistan Workers' Party (PKK) held a "successful" meeting this week with a view to disarming and disbanding, a...
- On February 27, Ocalan urged his fighters to disarm and disband, ending a decades-long insurgency against the Turkish state
- Turkey's President Recep Tayyip Erdogan has warned there will be harsh consequences "if the promises are not kept"