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
Japan political party to install AI leader
The Path to Rebirth party, which was launched in January by Shinji Ishimaru, a former mayor of a small city...
Geostrategy
Geostrategy
Libya orders arrest of 8 officials in flood disaster probe: Prosecutor
The officials are suspected of "bad management" and negligence, among other offences, a statement from the prosecutor general's office said,...
- Derna's mayor Abdulmonem al-Ghaithi, sacked after the flood, is among the detainees. Almost 3,900 people died in the disaster.
- After opening a probe, Libya's prosecutor general Al-Seddik al-Sur said more than a week ago that the two dams upstream from Derna had been cracked since 1998.
Geostrategy
Egypt to elect President in three-day election from Dec 10
President Abdel Fattah al-Sisi, a former army chief, has ruled for nearly a decade in the Arab world's most populous...
- Presidential hopefuls can apply from October, and the list of candidates is to be finalized by November 9, said the Egypt's National Election Authority
- The vote comes at a time Egypt's currency has lost half its value since March 2022 and inflation reached an all-time high of 39.7 percent in August
Arts & Culture
Picasso masterpiece ‘Femme a la montre’ on show in Dubai
Dubai, United Arab Emirates - A Pablo Picasso masterpiece expected to fetch at least $120 million at auction went on show...
- "Femme a la montre", the 1932 portrait of Marie-Therese Walter, Picasso's mistress and "golden muse", is being exhibited for two days
- "Femme a la montre" will be sold in November as part of a two-day auction of late New Yorker Emily Fisher Landau's prestigious collection
Business
Evergrande shares sink after restructuring plan scrapped
Evergrande's enormous debt has contributed to the country's deepening property market crisis, raising fears of a global spillover. The property...
- The company collapsed more than 25 percent by the break, underscoring market concerns as China's property sector faces an unprecedented crisis
- On Sunday evening, Evergrande announced that it was unable to issue new debt as its subsidiary, Hengda Real Estate Group, "is being investigated"
Economy
Germany’s housing sector slumps into crisis
Scholz's government had promised to build 400,000 homes a year to alleviate an endemic housing shortage made worse by burgeoning...
- Experts believe the sector will struggle to even hit 250,000 in new build approvals this year
- Housing Minister Klara Geywitz recently announced plans to offer aid to help families get on the property ladder
Business
Amazon to pour US$4bn into Anthropic
Its investment will heat up the race for dominance in AI.
- As part of the deal, Anthropic will use Amazon's chips and its cloud services -- the data cen that store and process data on a vast scale -- for "mission critical workloads"
- The deal intensifies competition between Amazon and Google, which had earlier opened its cloud services to Anthropic and invested $300 million to acquire 10 percent of the company
Geostrategy
Israeli forces kill two Palestinians in West Bank raid: ministry
Violence has surged in the Israeli-Palestinian conflict since early last year, particularly in the West Bank where eight Palestinians have...
- The army said one of its soldiers was "moderately injured by gunshot fragments" during clashes in Nur Shams refugee camp near the town of Tulkarem
- Separately on Sunday, the army said it carried out new drone strikes on the Gaza Strip targeting "two military posts" of the Islamist group Hamas
Geostrategy
Sicilian Mafia boss Messina Denaro dies in hospital
Messina Denaro was one of the most ruthless bosses in Cosa Nostra, the real-life Sicilian crime syndicate depicted in the...
- The 61-year-old had been treated for colon cancer while detained in a high-security jail in L'Aquila, but was moved last month to hospital after his condition deteriorated
- L'Aquila Mayor Pierluigi Biondi confirmed the mobster's death in hospital "following a worsening of his illness" in a statement to the ANSA news agency
Science
NASA capsule brings to Earth first major asteroid sample
Dugway, United States-- A seven-year space voyage came to its climactic end Sunday when a NASA capsule landed in the desert...
- The sample, according to scientists, will provide a better understanding of the formation of our solar system and how Earth became habitable
- NASA scientist Amy Simon said the sample return is "really historic" and it is the biggest sample NASA has brought back since the Apollo moon rocks
Economy
EU businesses ‘questioning their position’ in China: trade official
The EU trade commissioner is in China to press the bloc's case that it is not seeking an economic decoupling...
- "European companies are concerned with China's direction of travel," the EU trade commissioner said
- He pointed to a new foreign relations law and a recent update to China's anti-espionage laws as being of "great concern"
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
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
Company News
Latest News
Qatar renews $60 mn grant for Lebanon army salaries
Qatar is to renew a $60 million grant to pay the salaries of Lebanon's army and provide 162 military vehicles,...
Geostrategy
UN watchdog chief says Iran ‘not far’ from nuclear bomb
The United Nations nuclear watchdog chief Rafael Grossi warned on Wednesday that Iran was "not far" from possessing a nuclear...
Geostrategy
F1 on Jeddah’s streets – talking points ahead of the Saudi Arabian GP
Jeddah, Saudi Arabia - This weekend's Saudi Arabian Grand Prix is the final leg of the first 'triple header' of...
Economy
Most Read
Business
Meta to start using Europeans’ data for AI training May 27
Paris, France -- Meta will start using public posts and comments by its European users to train generative artificial intelligence...
- Meta, the owner of Facebook, Instagram and Threads, said earlier it would develop its AI models with European users' public content and conversations with the Meta AI chatbot.
- That means anything from Instagram photo captions to Facebook comments could soon be fair game for Meta AI, though private conversations via WhatsApp will be excluded.
Economy
Global economy under pressure could slow to 2.3 percent: UNCTAD
UNCTAD report '"Trade and Development Foresights 2025 – Under pressure: Uncertainty reshapes global economic prospects” cited mounting threats including trade...
- Rising trade tensions are impacting global trade, with UNCTAD noting that recent tariff measures are disrupting supply chains and undermining predictability.
- The slowdown will affect all nations, but UNCTAD remains concerned about developing countries and especially the most vulnerable economies.
Geostrategy
US approves $825 mn Stinger missile sale to Morocco
The United States on Tuesday announced the approval of an $825 million sale of up to 600 Stinger anti-air missiles...
- The proposed sale will improve Morocco's capability to meet current and future threats, the US Defense Security Cooperation Agency (DSCA) said in a statement
- This will contribute to the Moroccan Army's goals of updating capability and further enhancing interoperability with the US and other allies, the statement added