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
US Fed set for first rate cut of 2025 as Trump pressure looms
The US Federal Reserve is poised to make its first interest rate cut of 2025 on Wednesday, but it battles...
Economy
Business
Credit Suisse expects Q3 loss
The bank said the loss could be as much as $2.2 billion.
- Its exit from certain loan portfolios is expected to result in a $1.6 billion loss, Credit Suisse said in a first-half results statement
- The winding down of certain management arrangements may result in an additional loss of up to $600 million, the bank added
Geostrategy
Four more officials held after Libya flood disaster
Benghazi, Libya - Libya's prosecutor general has ordered the arrest of four more officials, bringing to 12 the number held as...
- The four additional suspects, including two members of the Derna municipal council, were arrested for suspected mismanagement
- Flooding caused by hurricane-strength Storm Daniel tore through eastern Libya on September 10, leaving at least 3,893 people dead
Geostrategy
Women play ‘prominent’ role as hundreds protest in Syria
Peaceful protests have swept Sweida province, the heartland of the country's Druze minority, since President Bashar al-Assad's government ended fuel...
- An activist and a witness told AFP that between 2,000 and 2,500 people took part in Friday's protests, some chanting anti-government slogans and waving Druze flags.
- Protests against deteriorating economic conditions have erupted sporadically in the province in recent years.
Business
Cathay Pacific orders A320neo planes
The value of the deal is expected between $3.2 billion to $4.1 billion.
- Financial details of the sale were not disclosed, though at current list prices the deal would be worth $3.2 to $4.1 billion
- Airbus says the more fuel-efficient versions of the single-aisle A320 planes are the best sellers in the industry
Business
Europe should move faster on energy transition, say IEA, ECB
PARIS, FRANCE - Europe must invest more quickly and massively in its energy transition if it wants to remain a global...
- Europe must invest more quickly in its energy transition if it wants to remain a global industrial power, top policymakers said.
- Private sector investment faces barriers including policy uncertainty, bureaucratic red tape and higher energy costs, they said.
Geostrategy
Jailed Tunisia opposition chief Rached Ghanouchi begins hunger strike
The 82-year-old leader of Ennahdha was sentenced to one year in prison on terrorism-related charges in May following his arrest...
- He is the most prominent of roughly two dozen opponents of President Kais Saied arrested since February, including former ministers and business figures.
- Ghannouchi "decided to begin a three-day hunger strike to denounce the arbitrary and unfounded prosecution of the opposition", said Imed Khemiri, Ennahdha spokesman.
Science
Politicians fail to understand scientific facts of climate, says expert
PARIS, FRANCE - Wavering ambition by governments and a growing belief that science is politically subjective are great causes for concern...
- Several extreme weather events have occurred in 2023, which the European Union's climate monitor says is likely to be the hottest in human history.
- These underscores the urgency of slashing planet-heating greenhouse gas emissions to avert the catastrophic impacts of greater global warming.
US State Department says 60,000 emails taken in alleged Chinese hack
State Department spokesman Matthew Miller said that the State Department has not formally assigned blame but had no reason to...
- Microsoft revealed in July that a Chinese hacking group had breached its email platform and accessed messages from around 25 organizations including US government agencies
- "It was approximately 60,000 unclassified emails that were exfiltrated as a part of that breach," State Department spokesman Matthew Miller told reporters
First migrants in a week land on Italy’s Lampedusa
Bad weather over the past week had prevented those fleeing North Africa to venture the risky Mediterranean crossing. The earlier...
- Seventeen Tunisians were admitted to the island's migrant reception center, which earlier this month was overrun after 8,500 arrived in just three days
- A little later, 38 migrants from Bangladesh arrived after their nine-metre boat was picked up off the coast by Italian authorities
More than 2,500 migrants dead or missing in Mediterranean in 2023: UN
The land journey from sub-Saharan African countries, where many of the migrants hail from, to departure points on the Tunisian...
- In total, some 186,000 people arrived by sea in southern Europe from January to September 24, landing in Italy, Greece, Spain, Cyprus and Malta
- Between January and August of this year it is estimated that more than 102,000 refugees and migrants tried to cross the Mediterranean from Tunisia and 45,000 from Libya
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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
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
Company News
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McLaren duo in ominous show of force in Saudi final practice
Lando Norris pipped teammate Oscar Piastri in final practice in Jeddah with the McLaren duo streets clear of the chasing...
Economy
Tunisia opposition figures get jail terms in mass trial
A Tunisian court has handed down jail sentences of up to 66 years to multiple defendants, including prominent opposition figures,...
Geostrategy
Norris edges Piastri as McLaren top Jeddah practice
Lando Norris drew a line in the sand after his trying time in Bahrain last weekend and bossed a second...
Economy
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Geostrategy
Iran, US to resume high-stakes nuclear talks in Rome amid sanctions and mutual distrust
Western countries including the United States have long accused Iran of seeking to acquire nuclear weapons - an allegation Tehran...
- Iranian Foreign Minister Abbas Araghchi and US Middle East envoy Steve Witkoff will hold the Oman-mediated talks in Rome
- Tehran and Washington have had no diplomatic relations since shortly after Iran's 1979 Islamic revolution
Geostrategy
Israeli strikes kill 24 after Hamas calls for ‘comprehensive deal’
Gaza's civil defense spokesman Mahmud Bassal said early Friday that crews had "recovered the bodies of 10 martyrs and a...
- Hamas chief negotiator urged international pressure to end Israel's complete blockade of Gaza that began on March 2.
- The appeal comes after the United Nations warned of worsening conditions and shortages of medicine and other essentials for the Palestinian territory's 2.4 million besieged people.
Geostrategy
Israel making Gaza unlivable, expands control over half of the territory
Jerusalem, Undefined -- By seizing large swathes of the Gaza Strip, Israel is redrawing the map of the Palestinian territory,...
- Nearly all Gazans have been displaced at least once, and many now live in schools turned shelters, under tents and in other makeshift shelters.
- Some Israeli figures who advocate for the return of settlements in the Gaza Strip -- which were evacuated in 2005 -- claim to have concrete plans and make regular visits.