After Japanese Softbank, US Govt, Chip-maker Nvidia to buy stake in rival Intel
Shares in chipmaker Intel skyrocketed on Thursday after AI giant Nvidia announced it would invest $5 billion in its struggling...
Science
Stocks rise on $5 billion Nvidia-Intel deal, Fed rate cut
Nvidia announced a $5 billion investment in struggling US rival to jointly develop chips for PCs and data centers. The...
Business
Geostrategy
Saudi Arabia announces bid to host World Cup in 2034
The bid "intends to deliver a world-class tournament and will draw inspiration from Saudi Arabia's ongoing social and economic transformation...
- Sport is a major component of Crown Prince Mohammed bin Salman's Vision 2030 reform agenda, which aims to transforms Saudi Arabia into a tourism and business hub.
- In the coming weeks, the kingdom is set to host the final LIV Golf League tournament of the regular season and a boxing match featuring Anthony Joshua.
Geostrategy
Iran plays down football spat with Saudi Arabia, says ties improving
Tehran, Iran - Iran's top diplomat on Wednesday played down a spat with Saudi Arabia that prompted the cancelation of an...
- Al Ittihad had refused to take to the pitch for their away game against Iran's Sepahan FC in protest at the statue of assassinated Revolutionary Guards commander Qasem Soleimani.
- The Asian Football Confederation later confirmed that the fixture had been cancelled "due to unanticipated and unforeseen circumstances".
Business
Jericho pins tourism hopes on UNESCO listing
Despite many cultural treasures, there were only 32,535 hotel guests in the Jericho area in the first half of this...
- Jericho drew international attention in September when it was added to UNESCO's World Heritage List.
- The city also draws visits by Israeli Arabs, descendants of Palestinians who stayed on their land after Israel's creation in 1948.
Economy
Libya orders Brussels envoy detention on graft charges
Shortly after her dismissal by the internationally recognized government in Tripoli, Amel Jerary, whose detention was ordered by the country's...
- The government in western Libya had earlier announced Jerary's dismissal without giving an explanation
- The corruption scandal erupted after an audio recording attributed to Jerary was posted on social media
Business
Geopolitical changes derailed shift towards green energy, says IMF
Washington, US - Growing geopolitical fragmentation since the invasion of Ukraine has hit commodity markets, threatening to slow the transition to...
- IMF economists said trade disruptions could lower investment in renewable energy and electric vehicles by almost 30 percent till 2030
- It said further geopolitical fragmentation could lead to "turmoil" in the commodity markets, causing long-term economic losses
Science
Trio wins physics Nobel for illuminating electrons
France's Pierre Agostini, Hungarian-Austrian Ferenc Krausz and Franco-Swede Anne L'Huillier won the Nobel prize in physics for research using ultra...
- The Royal Swedish Academy of Sciences likened the process to how the flapping wings of a humming bird turn into a blur for the human eye.
- "We can now open the door to the world of electrons," Eva Olsson, chair of the Nobel Committee for Physics, said in a statement.
Market Report
Markets slump as US jobs data says labor market buoyant
The focus has been on US Treasury bond yields that have surged to levels not seen in over a decade,...
- Asian indices also ended mostly lower with Hong Kong leading the decline, falling nearly 2.7 percent as the market reopened after a holiday weekend
- Russia's currency meanwhile continued to weaken on signs the country's economy is facing slower growth and higher inflation as the Ukraine war drags on
Business
Air France-KLM to buy stake in SAS
Air France-KLM will buy 19.9% shares of SAS.
- The group, along with the Danish state, will invest $1.175 billion in the airline, with Air France-KLM investing $144.5 million to buy the 19.9 percent holding.
- SAS filed for Chapter 11 bankruptcy protection in the US, an option available because of its operations there, in July 2022 as it reeled from Covid travel bans.
Business
Evergrande shares up 28 percent
Evergrande estimated it had debts of $328 billion at the end of June.
- When trading resumed Tuesday, its shares initially jumped more than 60 percent before paring much of their gains to close up 28 percent.
- Last Thursday Evergrande said its founder and chairman Xu Jiayin was suspected of "illegal crimes" after reports he was being held by police.
Economy
Yemen economy tanks as peace talks make no headway, say NGOs
"While economic challenges are rife across the country, rising inflation and the deterioration of public services are making life unbearable,"...
- Power cuts in Aden can last 17 hours a day and more than 50 percent of households in government-held areas cannot meet basic food requirements.
- The World Food Program warned in August that more than four million Yemenis would receive less food assistance from the end of September.
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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
After Japanese Softbank, US Govt, Chip-maker Nvidia to buy stake in rival Intel
Shares in chipmaker Intel skyrocketed on Thursday after AI giant Nvidia announced it would invest $5 billion in its struggling...
Science
Company News
Latest News
Pope Francis is dead at 88, world leaders pay tributes to the energetic reformer
"Today, we lost a faithful friend of the Palestinian people and their legitimate rights," Palestinian president Mahmud Abbas said, noting...
Geostrategy
West Bank campus a dystopian shelter for Palestinians uprooted again
Jenin, Palestinian Territories - On deserted university grounds in the occupied West Bank, Palestinian children run outside nearly empty buildings,...
Geostrategy
US defense chief shared sensitive information in second Signal chat: US media
US Defense Secretary Pete Hegseth shared information on forthcoming US air strikes on Yemen in a private Signal chat group...
Geostrategy
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Geostrategy
From tariffs to deportations, Trump’s first 100 days signal imperial shift in US leadership
Trump has also stepped up the sense of an endless reality show in which he is the star, as he...
- Trump has been driven by a sense of grievance left over from an undisciplined first term that ended in the shame of the 2021 US Capitol riots after his election defeat to Joe Biden
- And while Trump freed hundreds of those attackers from jail on his first day back in office, he is taking no prisoners when it comes to consolidating the power of the White House
Geostrategy
Gaza rescuers say Israeli air strikes kill 25 and injure dozens of Palestinians
Gaza City, Palestinian Territories -- Gaza's civil defense agency reported that Israeli air strikes since dawn on Sunday have killed...
- "Since dawn today, the occupation's air strikes have killed 20 people and injured dozens more, including children and women across Gaza," said Mahmud Bassal.
- In a separate statement later, the agency reported that five people were killed in an Israeli drone strike on a group of civilians in eastern Rafah.
Geostrategy
US aid cuts strain response to health crises worldwide: WHO
Riyadh, Saudi Arabia -- The United States slashing foreign aid risks piling pressure on already acute humanitarian crises across the...
- Donald Trump has effectively frozen foreign aid funding, moved to dismantle USAID and other programs, and announced plans to leave the WHO.
- Washington, which had long been the WHO's biggest donor, did not pay its 2024 dues, and it remains unclear if the United States will meet its membership obligations for 2025.