Musk’s title of richest person challenged by Oracle’s Ellison
New York, United States - Billionaire Elon Musk is at risk of losing his title of world's wealthiest person to...
Business
Iran, IAEA sign cooperation framework in Cairo after suspension following Israeli strikes on nuclear sites
The agreement was signed in Cairo by Iranian Foreign Minister Abbas Araghchi and International Atomic Energy Agency chief Rafael Grossi,...
Geostrategy
Business
Aramco Q2 profits drop 38%
The oil company's profits fell sharply to US$30.08 billion.
- Production from the world's biggest crude exporter was down after Riyadh in April announced cuts of 500,000 barrels per day
- The kingdom's daily production is now approximately nine million bpd, far below its reported daily capacity of 12 million bpd
Business
Toshiba readies deal to go private
The 14bn deal comes after years of turmoil for the company.
- The Japan Industrial Partners-led consortium taking control in the nearly two trillion yen deal includes 17 Japanese firms and six Japanese banks.
- In March, Toshiba said the tender offer will be called off if the consortium fails to buy at least 66.7 percent of the outstanding shares.
Geostrategy
Trump to seek new judge in election conspiracy trial
The twice-impeached Republican, who is seeking a return to the White House in 2024, has unleashed a stream of invective...
- Team Trump wanted to push the deadline to Thursday, but the judge said they must abide by the current deadline of 2100 GMT Monday
- Former vice president Mike Pence, a key figure in the case, said Sunday that he would not object to testifying in Trump's trial
Economy
Fish farms reel from climate change in water-stressed Iraq
Drastic government measures have restricted water use for some purposes, including crop irrigation, and authorities have cracked down on illegal...
- About half of Iraq's estimated 5,000 "unlicensed" fish farms have been closed, Shamal said, pointing out that authorities still allow mobile fish tanks
- In Iraq's far south, high salinity has harmed fishing in the Shatt al-Arab waterway, where the Tigris and Euphrates converge before spilling into the Gulf
Business
Dubai mega-wheel billed as world’s largest stops turning
Ain Dubai (Dubai Eye) was designed as a tourist-luring landmark in the United Arab Emirates' glam-hub, which is home to...
- The giant wheel, made of more steel than the Eiffel Tower, features prominently on the list of Dubai's top tourist attractions
- With no official explanation, rumours are rife on the Ferris wheel's apparent technical issues, especially among employees at Bluewaters
Geostrategy
Iraq asks US, UK to extradite suspects in massive graft scandal
Iraq's judiciary issued arrest warrants at the beginning of March for four men, including a former finance minister and staff...
- The case, which has been dubbed "the heist of the century", sparked outrage in oil-rich but corrpution-plagued Iraq.
- At least $2.5 billion were stolen between September 2021 and August 2022 through 247 cheques that were cashed by five companies.
Geostrategy
UAE sends military vehicles to aid Chad in counter-terror efforts
Chad is a neighbor of Niger, where a coup late last month toppled one of the last pro-Western leaders in...
- The two countries had signed a military cooperation agreement in June during a visit by Chad's president, General Mahamat Idriss Deby Itno.
- The UAE, which has been developing its own defense industry, has also been increasing its engagement with African nations.
Geostrategy
Iran appoints West-sanctioned official as supreme court chief
TEHRAN, IRAN - Iran on Sunday appointed Mohammed Jafar Montazeri, who is under US and British sanctions, to head the Islamic...
- Mohammed Jafar Montazeri was placed under US sanctions in December, with Washington identifying him as having a role in the prosecution of protesters.
- Britain followed suit in January and imposed punitive measures against Montazeri following the execution of British-Iranian Alireza Akbari for spying.
Business
Musk offers legal aid for users in trouble at work over X posts
Since Musk bought the social media platform for $44 billion last October, its advertising business has collapsed, in part because...
- In December, Musk reinstated former US president Donald Trump's Twitter account, although Trump has yet to return to the platform
- X recently reinstated rapper and designer Kanye West around eight months after his account was suspended, according to media reports
Business
One missing after tugboat sinks in Suez collision with tanker
The authorities in charge of the waterway said that a tugboat sank and a cew member had gone missing after...
- The vessel Hong Kong-flagged LPG tanker Chinagas Legend involved in the collision was headed from Singapore to the US
- Two years back the giant ship Ever Given caused a nearly week-long stoppage in Suez traffic after it got stuck in the waterway
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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
Musk’s title of richest person challenged by Oracle’s Ellison
New York, United States - Billionaire Elon Musk is at risk of losing his title of world's wealthiest person to...
Business
Company News
Latest News
US, Russia negotiations on partial Ukraine ceasefire end after 12 hours in Saudi Arabia
The US-Ukraine and US-Russia talks were originally planned to take place simultaneously to enable shuttle diplomacy, with the United States...
Geostrategy
Stock markets rise on fresh hopes for Trump’s tariff approach
Investor sentiment has been jolted in recent weeks by fears that the president's hardball policies could deal a painful blow...
Business
Does ‘vibe coding’ make everyone a programmer?
New York, United States -- Can a complete tech novice create a website using everyday language on ChatGPT? That's the...
Business
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Arts & Culture
‘Love is in the air’: Woods confirms romance with Trump’s ex daughter-in-law
Los Angeles, United States - Tiger Woods took the unusual step of confirming his romance with Donald Trump's former daughter-in-law...
- "Love is in the air and life is better with you by my side," Woods wrote in a caption above two photos of himself relaxing with Vanessa Trump
- Vanessa Trump, who divorced Donald Trump Jr. in 2018 after a 13-year marriage, also posted a picture of her and Woods together on her Instagram account
Geostrategy
Trump pushes for Ukraine peace as US, Russian officials hold ceasefire talks in Saudi Arabia
US President Donald Trump is pushing for a rapid end to the three-year war and hopes talks in Riyadh could...
- US President Donald Trump is pushing for a rapid end to the three-year war and hopes talks in Riyadh could pave the way for a breakthrough
- Both sides have proposed different plans for temporary ceasefires, but cross-border attacks have meanwhile continued unabated
Geostrategy
Turkey braces for fourth night of protest as mayor arrives in court
Turkey was headed for a fourth straight night of protests late Saturday, as the biggest street unrest the country has...
- As the crowds began massing outside Istanbul City Hall, a convoy carrying the 53-year-old mayor arrived at Caglayan court on the other side of the city
- He was arrested on Wednesday, just days before he was to be formally named the main opposition CHP's candidate for the 2028 presidential race