Saudi launches Damascus area reconstruction project
Saudi Arabia announced on Sunday humanitarian projects for Syria including the removal of wartime rubble around Damascus, weeks after inking...
Economy
Catholic teen set to become first millennial saint
Vatican City, Holy See -- Tens of thousands of pilgrims are expected at the Vatican Sunday for the canonization of...
Arts & Culture
Business
TCS Q1 profit at US$1.35bn
Revenue from operations was US$7.2 billion.
- TCS, India's second-most valuable company by market cap, reported a net profit of 110.7 billion rupees ($1.35 billion).
- TCS was boosted by 16.1 percent growth in its UK market, while North America and Europe grew by 4.6 percent and 3.4 percent.
Business
Broadcom to acquire VMware after EU okays deal
BRUSSELS, BELGIUM- The European Commission approved US chipmaker Broadcom's planned $61 billion takeover of cloud computing firm VMware on Wednesday, conditional...
- The massive deal had raised concerns about competition, prompting probes by antitrust watchdogs in the European Union and Britain.
- As a remedy, Broadcom offered interoperability commitments to rival Marvell Technology and any other potential competition.
Business
OECD says sizeable progress made on sharing tax revenue on multinationals
Nearly 140 countries have taken a first step towards reaching agreement on a fairer distribution of tax revenues from multinational...
- Multinationals, especially tech firms, are currently able to easily shift profits to countries with low tax rates.
- In 2021, in talks led by the OECD, an agreement was reached on a minimum tax rate of 15 percent on multinationals.
Economy
Pakistan gets $1 billion boost from UAE ahead of key IMF decision
The deposit comes a day after Saudi Arabia transferred $2 billion to Islamabad and brings the state's foreign reserves to...
- Inflation has rocketed, the rupee has plummeted, and the country is struggling to afford imports, causing a severe decline in industrial output.
- Securing financial support from friendly nations has been a key condition of the IMF for approving a new standby deal for Pakistan worth $3 billion.
Geostrategy
UN rights council condemns Quran burnings despite splits
Despite overwhelming condemnation of the Muslim holy book being desecrated, the vote brought more division than unity as Western nations...
- The United Nations' top rights body backed the resolution by 28 votes in favor, with 12 against and seven abstentions.
- The wording of the resolution condemns all manifestations of religious hatred, including "public and premeditated acts of desecration of the Holy Quran"
Syria’s White Helmets say volunteer killed by missile
The Britain-based Syrian Observatory for Human Rights, which relies on a wide network of sources on the ground in Syria,...
- The first responder was killed "while conducting inspections in areas that had been targeted by artillery shelling from regime forces", the group said
- The Observatory said that since the beginning of the year, 243 people including 16 civilians have been killed in the region despite a ceasefire
Geostrategy
Both sides in Sudan must be made accountable, says UN official
BRUSSELS, BELGIUM - Sudan's warring sides must face "accountability" for the "crimes" committed in their conflict, which risks spiraling into a...
- The fighting, which began in mid-April, risks morphing into a tribalized and ideologized conflict, head of UN mission in Sudan said.
- Around 3,000 people have been killed, and the UN has warned of possible crimes against humanity in the western region of Darfur.
Abbas to make landmark Jenin visit after deadly Israeli raid
Twelve Palestinians and one Israeli soldier were killed in the two-day raid on Jenin and its adjacent refugee camp, a...
- Soon after the raid, several top officials of Abbas's Fatah party, including deputy chairman Mahmoud Aloul, had visited the camp only to be heckled by crowds of angry residents
- On Wednesday, Abbas was expected to visit the city as well as the camp to review "progress of work in the reconstruction of the camp and the city", his office said in a statement
Iran president Ebrahim Raisi holds talks with Kenya’s president
Iranian foreign ministry spokesman Nasser Kanani has described the three-day trip as "a new turning point" which could bolster economic...
- The visit comes as the Islamic republic tries to shore up diplomatic support to ease its international isolation, with Raisi also due to travel to Uganda and Zimbabwe
- In addition to meeting Williams Ruto, Raisi will hold talks with his Ugandan counterpart Yoweri Museveni and Zimbabwean President Emmerson Mnangagwa
COP host UAE vows to cut more emissions in latest plan
The oil-rich Gulf monarchy, which will host this year's COP28 UN climate talks, last week unveiled plans to cut domestic...
- To cut domestic pollution, the UAE plans to triple renewable energy production and slash emissions in everything from industry to transport
- UAE climate change minister Almheiri said the UAE hopes to unveil details of its plan to reach domestic carbon "net zero" by 2050 in the coming months
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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
Saudi launches Damascus area reconstruction project
Saudi Arabia announced on Sunday humanitarian projects for Syria including the removal of wartime rubble around Damascus, weeks after inking...
Economy
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BRICS summit planned for July in Rio, says current chair Brazil
Rio de Janeiro, Brazil - Leaders of the countries known as BRICS will hold a summit in Rio de Janeiro in...
Geostrategy
Lavrov, Rubio pledge to restore dialogue and work on settling Ukraine conflict, says Moscow
The call came ahead of an expected summit between Donald Trump and Vladimir Putin amid mounting concern from Ukraine and...
Geostrategy
OpenAI board rejects Elon Musk-led $97.4 billion buyout offer
San Francisco, United States -- OpenAI's board chairman on Friday said it has unanimously rejected an Elon Musk-led offer to buy...
Business
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Geostrategy
Saudi Arabia to host Arab summit on Trump’s Gaza plan, Egypt, Jordan, Qatar and the UAE to attend
Trump sparked a global outcry with his proposal for the United States to "take over" the Gaza Strip and to...
- Arab countries have come together in a rare united front, outraged by the idea of displacing the Palestinians en masse
- For Palestinians, any forced displacement evokes memories of the mass displacement of their ancestors during Israel's creation in 1948
Geostrategy
Hezbollah supporters protest banning Iranian planes from landing in Beirut
Beirut, Lebanon - Hezbollah supporters blocked the Beirut airport road and burned tyres on Thursday to protest a decision barring two...
- Some of the young men raised Hezbollah's yellow flag and held pictures of Nasrallah, killed in an Israeli strike in September
- Israel has repeatedly accused Hezbollah of using Lebanon's only airport to transfer weapons from Iran
Geostrategy
Trump eyes summit with Xi-Putin, shaking up world order, Macron warns against ‘capitulation’
US president's remarks on Russia and China mark a seismic shift after more than a decade of US policy which...
- With Kyiv and European capitals still stunned by Trump's surprise call with Putin, the US president also said he would "love" to have Russia back in the G7
- Trump - who has cast himself in his second term as a global peacemaker - also said he would consider a summit with Putin and China's Xi Jinping "when things calm down."