US Fed makes first rate cut of 25 basis points over employment risks as Trump mounts pressure
Fed Chair Jerome Powell stressed that the central bank remains "strongly committed" to maintaining its independence from politics, however, when...
Economy
Trump heads for landmark state visit with ‘friend’ King Charles
US President Donald Trump left for a historic second state visit to Britain Tuesday -- but political controversies, wars and...
Geostrategy
Lebanese children ‘miss out’ on education as crisis takes toll
Lack of funding for the school system has precipitated repeated teachers' strikes and school closures, resulting in children being increasingly...
- Public sector teachers earn the equivalent of $150 to $300 per month, while the education ministry has sounded the alarm over lack of funding
- At least 15 percent of households have pulled their children out of schools, UNICEF found in a June report, up from 10 percent a year ago
East Libya strongman in Moscow talks with Putin
Haftar, who sponsors a rival administration to Libya's UN-backed government in Tripoli, has long cultivated close relations with Moscow and relies...
- Kremlin spokesman Dmitry Peskov confirmed Haftar's meeting with Putin, saying the two discussed the situation in Libya and the region as a whole
- The eastern strongman, who arrived in Moscow on Tuesday, had already held talks with Deputy Defense Minister Yunus-Bek Yevkurov during his visit
Geostrategy
China wants to be world’s strongest nation, says Blinken
WASHINGTON, US - China is seeking to surpass the United States as the top power in the world, US Secretary of...
- Asked at a forum about China's intentions, Blinken said, "I think that what it seeks is to be the dominant power in the world -- militarily, economically, diplomatically".
- President Joe Biden's administration, while saying it is clear-eyed on China and stepping up pressure, has also been increasing dialogue in hopes of managing tensions.
Geostrategy
EU close to ratify new deal on asylum seeker and migrants
Part of the aim of the revised policy is for European Union countries to act together should they be faced...
- Once implemented, the new Pact on Migration and Asylum would seek to relieve the pressure on so-called frontline countries such as Italy and Greece.
- Those countries opposed to hosting asylum-seekers -- Poland and Hungary among them -- would be required to pay the ones that do take migrants in.
Business
Aramco to invest in LNG
The deal will be Aramco's first international investment in LNG.
- Aramco is likely to acquire a minority stake worth $500 million in MidOcean Energy, which is managed by the US investment firm EIG.
- Aramco wants to become "a leading global LNG player", the firm's upstream president Nasir K. al-Naimi said.
Business
New update allows ChatGPT to use internet for fetching data
New York, US - The generative AI platform ChatGPT can now fetch data directly from the internet and gather up-to-date information...
- "ChatGPT can now browse the internet to provide you with current and authoritative information, complete with direct links to sources," OpenAI said.
- Until now, ChatGPT's responses to user queries were based on a vast database, which did not contain information from after August 2021.
Geostrategy
Israel sells Arrow 3 missile defense system to Germany for US$3.5bn
TEL AVIV, ISRAEL - Israel's US$3.5-billion sale of its Arrow 3 missile defense system to Germany, sparked by security fears after...
- Israeli arms exports reached a new record of $12.5 billion dollars last year, double the amount from three years earlier, says its defense ministry.
- Israel, together with its top ally the United States, has developed hi-tech systems designed to knock incoming rockets and missiles out of the sky.
Geostrategy
Israel top court hears appeals against rules for removing prime minister
Israel's top court debated appeals against a law restricting how a prime minister can be removed from office, as current...
- The legislation says that a prime minister can be declared unfit for office due to health reasons.
- The law says a two-thirds majority in cabinet is required to take such a step, before the move is approved by at least 80 of the parliament's 120 members.
Technical glitch stifles production at Volkswagen
According to financial daily Handelsblatt, production came to a complete standstill in Wolfsburg and at the company's plants in Emden,...
- The disruption began at 12:30 pm (1030 GMT) and had still not been resolved by the evening, Volkswagen said
- The cause of the technical problems was not known but "an external attack is unlikely to be the cause", German automaker said
Business
Oil prices climb up to highest level in a year
The jump in oil prices came in the wake of a a surprising drop in US crude inventories. Oil prices...
- The increase in crude prices was seen by analysts as a drag on US equities, which opened higher, but finished mixed
- The dollar added to gains seen as higher US bond yields make the greenback more attractive as a haven
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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
US Fed makes first rate cut of 25 basis points over employment risks as Trump mounts pressure
Fed Chair Jerome Powell stressed that the central bank remains "strongly committed" to maintaining its independence from politics, however, when...
Economy
Company News
Latest News
Humanoid robots stride into the future with world’s first half-marathon
At the crack of the starter's gun, and as a Chinese pop song "I Believe" blared out from loudspeakers on...
Science
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...
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...
Geostrategy
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Geostrategy
Chinese vent anger at Trump’s trade war with memes, mockery
Beijing, China -- While China's leaders use their economic and political might to fight Donald Trump's trade war "to the...
- Defiant posts have shot to the top of most-searched lists on social media, flooding platforms with patronizing comments and jokes.
- In one video, a Chinese internet user opens his hands to reveal what goods he buys from the United States -- nothing.
Business
Google has illegal monopoly in ad tech, US judge rules
Washington, United States - A US judge on Thursday ruled that Google illegally wielded monopoly power in the online ad...
- The federal government and more than a dozen US states filed the antitrust suit against Alphabet-owned Google
- It is one of two federal suits targeting Google that could ultimately see the company split up and curb its influence
Economy
Egypt central bank lowers interest rate for first time since 2020
Egypt's central bank on Thursday announced that it was lowering interest rates for the first time since 2020, days after...
- The Central Bank of Egypt cut interest rates by 225 basis points, its monetary policy division said in a statement
- Its overnight deposit rate, overnight lending rate, and the rate of the main operation now stood at 25%, 26 percent and 25.5%, respectively