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
Mistral cements AI lead in Europe with cash infusion
Paris, France -- France's Mistral on Tuesday cemented its position as Europe's top AI hope against far larger US and...
Business
Geostrategy
UAE vows to allow ‘peaceful’ assembly of climate activists at COP28
The UAE, set to host COP28 from November to December in the business hub of Dubai, requires official permission for protests...
- The announcement was made in a joint statement with the United Nations Framework Convention on Climate Change (UNFCCC).
- The statement was released after COP28 president Sultan al-Jaber and UNFCCC chief Simon Stiell signed a pact in Abu Dhabi that provides the legal basis for organizing the event.
Business
Oil majors still profitable even if 2022 super profits gone
From BP to ExxonMobil to TotalEnergies, none of the oil and gas majors have repeated the exceptional profits posted in...
- Before it, the US giant ExxonMobil saw its second-quarter profits tumble 56 percent to $7.9 billion, while rival Chevron saw a similar fall to $6 billion.
- Shell saw a 64 percent drop in net earnings to $3.1 billion, while TotalEnergies fared better with just a 28 percent slide to $4.1 billion.
Geostrategy
Saudi Arabia approves $1.2 bn grant to boost Yemen’s flagging economy
Yemen's finance minister and central bank governor as well as the Saudi ambassador were expected to disclose details of the...
- Fighting has dropped off sharply since a UN-brokered truce took effect in April last year, even though it lapsed in October.
- However more than two-thirds of Yemenis depend on aid to survive amid a grinding economic crisis marked by a collapsed currency and import bans.
US delegation presses Taliban at Doha meeting on women’s rights
The closed-door meeting was one of the highest-level known gatherings of US and Afghan government officials in months, with the...
- The American delegation also expressed "deep concern" regarding the humanitarian crisis and the need to continue supporting aid organizations delivering assistance
- During the meeting Kabul "emphasized once again that to build trust, it is important to remove blacklists and release the bank reserves so Afghans can develop their economy
HSBC reports bumper profits
Revenue jumped $12.3 billion to $36.9 billion.
- The massive jump from $8.8 billion from the first half of 2022 came as central banks around the world have ramped up borrowing costs to fight inflation
- The firm also said second-quarter earnings came in better than forecast, jumping almost 90 percent to $8.8 billion, thanks to the bumper income from surging interest rates
Toyota posts bumper Q1 net profit
The automaker's profit surged 78 percent to US$9.1 billion.
- Toyota said net profit in the three months to June was $9.1 billion on sales of 10.55 trillion yen, up 24.2 percent from a year
- The company also maintained its annual targets, including net profit of 2.58 trillion yen and sales of 38 trillion yen
BP profit plunges to $1.8bn
Despite the drop, BP hiked dividend.
- Profit after tax plunged to $1.8 billion in the three months to the end of June compared with $9.3 billion in the second quarter last year, BP said in a statement
- Oil prices have tumbled, partly on fears of falling demand as the global economy slows, with major consumer China's post-Covid recovery stumbling
Business
Brazil midfielder Fabinho quits Liverpool, signs deal with Al-Ittihad
Fabinho, the Brazil midfielder, will join Karim Benzema and N'Golo Kante at Al-Ittihad, one of four Saudi clubs controlled by...
- He joined Liverpool from Monaco in 2018, winning the Champions League, Premier League, FA Cup, League Cup and Club World Cup
- Fabinho's departure comes after Liverpool captain Jordan Henderson decided to move to Saudi Arabia to play for Al-Ettifaq
Economy
Musk caves in to furore, removes giant, flashing X sign
The X, installed on the roof of the company's downtown office last week, was part of owner Elon Musk's bid...
- San Francisco's Department of Building Inspection and City Planning received 24 complaints about the sign
- The owner of the property where X is renting offices will have to pay the cost of permits to install and remove the sign
Business
US equities up as major firms set to unveil economic reports
New York, US - Wall Street stocks edged higher early Monday ahead of major economic reports and earnings releases later in...
- US equities have continued to trend higher in July behind hopes that the Federal Reserve will soon relent on interest rate hikes
- The broad-based S&P 500 added 0.3 percent at 4,593.56, while the tech-rich Nasdaq Composite Index advanced 0.4 percent to 14,370.18.
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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
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UN warns of ‘massive trauma’ for Gaza’s children amid renewed fighting
Sam Rose, the senior deputy field director in Gaza for the UN agency for Palestinian refugees UNRWA, highlighted the psychological...
Geostrategy
Italian paper prints fully-AI edition, but not to ‘kill’ journalism
Rome, Italy -- In a world first, an Italian newspaper is printing a fully AI-generated edition for a month in...
Arts & Culture
Chinese electric car maker BYD aims for Europe boost
Chinese carmaker BYD on Thursday vowed to conquer Europe with a new compact electric model and super-fast charging capability to...
Business
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Arts & Culture
Jet skis in the desert: winter lake creates Saudi watersports oasis
Az Zulfī, Saudi Arabia -- The ear-splitting roar of his jet ski fills the air as Hamza al-Hamm thunders past,...
- Zulfi's lake, more than 200 kilometers northwest of Riyadh, appears every winter, giving desert-dwellers the chance to take part in a sport usually associated with seaside resorts.
- When it forms, the lake offers a welcome respite in a country where intense heat limits outdoor activities for much of the year.
Geostrategy
Deepfakes can clone your voice in 5 seconds, tech firms mount defense
Las Vegas, United States -- Tech firms are fighting the scourge of deepfakes, those deceptively realistic voices or videos used...
- Hong Kong police recently revealed that a multinational firm employee was tricked into wiring $26m to crooks who staged a videoconference with AI avatars of his colleagues.
- A recent study by identification start-up iBoom found that a scant tenth of one percent of Americans and Britons were able to correctly tell when a picture or video was a deepfake.
Geostrategy
Netanyahu says Gaza strikes ‘only the beginning’, future negotiations ‘only under fire’
Hamas has not responded militarily so far, and in a statement urged friendly countries to "pressure" the United States to...
- The strikes, by far the largest since a truce took effect in January, killed more than 400 people across the Gaza Strip
- Netanyahu said in a video statement on Tuesday evening "Hamas has already felt the strength of our arm in the past 24 hours