Israel army says 250,000 left Gaza City for their “safety” since stepping up operations
The United Nations estimated in late August that about one million Palestinians lived in and around Gaza's largest urban centre,...
Geostrategy
Market value of camels at Crown Prince Festival reaches $66 million
Taif, Saudi Arabia -- The market value of the camels competing in the final rounds of the 2025 Crown Prince...
Business
Economy
US blocks Nvidia AI chip sales to Middle East citing China concerns: report
London, Britain - The Biden administration has implemented restrictions on the sale of Nvidia's advanced microchips to certain Middle Eastern...
- Nvidia, a tech giant valued at $1.2 trillion, has been directed to obtain permission before exporting chips to specific nations in the region
- Nvidia's H100 and A100 chips play a vital role in training software like ChatGPT, contributing significantly to the global race for superior computing power
Economy
Second quarter GDP growth in US 2.1%, weaker than earlier estimates
Washington, United States - Economic growth in the United States was weaker than first estimated for the April to June period,...
- GDP growth in the world's biggest economy came in at 2.1 percent for the second quarter, down from the initial estimate of 2.4 percent.
- Economists have been warning of a possible downturn as the US central bank rapidly lifted interest rates to tamp down demand and lower inflation.
Geostrategy
EU okays updated Pfizer and BioNTech’s anti-Covid vaccine
Adults and children over five require a single shot "irrespective of their Covid-19 vaccination history" while younger children may get...
- The European Medicines Agency said it "has recommended authorizing an adapted Comirnaty vaccine targeting the Omicron XBB.1.5 subvariant".
- Known as Comirnaty Omicron XBB.1.5, the mRNA vaccine is to be used to prevent Covid-19 in adults and children from six months.
Business
Lego first half profit dips 17%
But the toy giant's market share grew as sales rose slightly.
- The company's CEO said revenue surged 10 percent faster than the market, as its revenue touched $4 billion in the first half of 2023.
- Lego credited the growth in revenue to success of products like Star Wars and Lego Icons, also including Lego City, Lego DREAMZzz.
Business
Another Saudi sports push: PIF buys stake in US mixed martial arts league
Combining elements of everything from boxing to judo and Muay Thai, mixed martial arts (MMA) had a limited following in...
- It is the first deal sealed by SRJ Sports Investments, a new company unveiled earlier this month by the Saudi fund known as the Public Investment Fund.
- Sports have been a major component of the oil-rich Gulf kingdom's effort to rebrand as a global business and tourism destination under the Vision 2030 reform agenda.
Geostrategy
Kremlin not ruling out foul play in Wagner chief Prigozhin’s death
Prigozhin, 62, was buried on Tuesday in a private ceremony in his native Saint Petersburg, more than two months after...
- Kremlin spokesman Dmitry Peskov on Wednesday told reporters that officials probing the incident have not ruled out any cause for the crash including foul play.
- The Kremlin has dismissed suggestions it orchestrated the crash in revenge for Wagner's march on Moscow in June.
Geostrategy
Kyrgyzstan repatriates 95 from Syria rebel camps
Kyrgyzstan has already twice taken back its citizens from Syria or Iraq. In March 2021, 79 children were repatriated while...
- Thirty-one women and 64 children who are Kyrgyz citizens were transferred from Syria to Kyrgyzstan," said the foreign ministry in a statement
- The ministry said it was "grateful" to the US for "full assistance and logistical support" in the operation, as well as thanking UNICEF and the Red Cross
Business
Equities extend gains on US jobs data, China rate cut hopes
The mood was brightened by a report that China's biggest state-backed banks would slash rates on mortgages and deposits as...
- A separate report revealed consumer confidence falling owing to concerns about jobs, higher rates and lingering inflation.
- The readings come ahead of the release of the Fed's preferred gauge of inflation -- the personal consumption expenditures price index -- this week.
Elon Musk lifts political ad ban at rebranded Twitter
Welcoming back potentially misleading political messages at X came less than a week after former president Donald Trump posted there...
- X, formerly known as Twitter, said in a blog post that allowing political ads, starting in the United States, was "building on our commitment to free expression"
- X policies prohibit promotion of false or misleading information, including bogus claims intended to undermine confidence in an election, the blog contended
Business
Oil companies pay Insta, TikTok influencers for ads
Online celebrities best known for posting about video games are also dropping in unexpected plugs for gasoline stations, fuel rewards...
- Analysts say companies are targeting young people on social media to shore up their oil and gas-based business even as countries seek cleaner alternatives to limit global warming
- One gamer, who has 178,000 followers for her @chica account on Instagram, drew sighs of dismay with a recent post showcasing a new Shell-sponsored feature in video game Fortnite
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
Israel army says 250,000 left Gaza City for their “safety” since stepping up operations
The United Nations estimated in late August that about one million Palestinians lived in and around Gaza's largest urban centre,...
Geostrategy
Company News
Latest News
Hungary announces ICC withdrawal as Israel’s Netanyahu visits
Budapest, Hungary -- Hungary on Thursday said it will quit the International Criminal Court, just as its Prime Minister Viktor...
Geostrategy
Gaza rescuers say 25 killed in Israeli strike on school-turned-shelter
Gaza civil defense spokesman Mahmud Bassal told AFP more than 100 others wounded in the strike on Dar al-Arqam School...
Geostrategy
Trump stings friends and foes alike in his tariffs war, countries eye trade talks
The tariff announcements rattled stock markets while safe haven gold hit a new record high, oil prices fell and the...
Economy
Most Read
Geostrategy
US university calls for release of detained Turkish student
New York, United States - Tufts University on Wednesday publicly backed its student Rumeysa Ozturk, a Turkish national detained by...
- Video of Ozturk's arrest by masked agents on a sidewalk has sparked outrage online
- This has added to concerns about freedom of speech and respect for due process under Trump
Geostrategy
Israel’s Netanyahu arrives in Hungary, defying ICC warrant
Israeli Prime Minister Benjamin Netanyahu arrived in Budapest early Thursday on his first trip to Europe since 2023 and in...
- Hungarian Prime Minister Viktor Orban extended an invitation to Netanyahu last November, a day after the ICC issued the arrest warrant over alleged war crimes in Gaza
- Orban vowed the EU member would not execute the warrant, despite being an ICC member, saying the court's decision "intervenes in an ongoing conflict... for political purposes".
Geostrategy
Military confrontation ‘almost inevitable’ if Iran nuclear talks fail, says French foreign minister
Western countries including the United States have long accused Iran of pursuing a nuclear weapon, which Tehran has denied, insisting...
- "Our confidence and our conviction remain intact," Barrot said. "Iran must never acquire nuclear weapons."
- "Our priority is to reach an agreement that verifiably and durably constrains the Iranian nuclear program," he added.