EU hits Google with $3.47 billion fine despite Trump threats
Brussels, Belgium -- The EU slapped Google with a massive 2.95 billion euro ($3.47 billion) antitrust fine for favoring its...
Business
Amazon’s Starlink rival lands first major airline deal
Washington, United States -- JetBlue Airways will become the first airline to use Amazon's Project Kuiper satellite network to power...
Business
Geostrategy
Mitsotakis wins second term with clear majority in Greece polls
Conservative leader Kyriakos Mitsotakis won Greece's national elections on Sunday with a clear majority, securing a second term during which...
- Kyriakos Mitsotakis's New Democracy party achieves over 40.5 percent of votes, surpassing Syriza
- The Conservative party leader plans rapid major reforms to transform Greece in his new term
Geostrategy
China supported Russia to counter Wagner mutiny, says Moscow
MOSCOW, RUSSIA - Russia's foreign ministry said on Sunday that Beijing had backed Moscow's efforts to counter a short-lived armed uprising...
- Russia said China expressed for the efforts of the leadership of the Russian Federation to stabilize the situation in the country.
- It came after a meeting in Beijing between China's deputy foreign minister Ma Zhaoxu and Russian deputy foreign minister Andrey Rudenko.
Economy
Germany gears up for continued recession after years of bloom
BERLIN, GERMANY - On his many visits to semiconductor factories and electric car plants, Germany's Chancellor Olaf Scholz bangs the drum...
- Having dipped into recession at the beginning of the year, Germany looks set to finish the year in the red - and at the back of the pack among its eurozone competitors.
- The government is the only one left still predicting GDP will grow this year, while the main economic institutes and the IMF are looking at a drop of 0.2 to 0.4 percent.
Geostrategy
India’s Modi, Egypt’s Sisi pledge to deepen strategic partnership
Indian Prime Minister Narendra Modi met Egypt's President Abdel Fattah al-Sisi in Cairo on a rare visit during which both...
- New Delhi and Cairo have pledged to boost bilateral trade as India is also stepping up investment in Egypt, particularly in renewable energy.
- India is already Egypt's seventh-largest trading partner, according to data from Cairo's central bank, with trade reaching $7 billion last year.
Geostrategy
Mitsotakis’s conservatives set for landslide Greece election win
Mitsotakis's New Democracy party obtained over 40 percent of the vote, well ahead of the leftist Syriza party led by...
- Mitsotakis, 55, who steered Greece from the coronavirus pandemic back to two consecutive years of strong growth, had already a scored a thumping win in an election just a month ago
- But having fallen short by five seats in parliament of being able to form a single-party government, he declined to form a coalition, forcing voters back to ballot boxes.
Geostrategy
Protesters demand ‘justice’ on anniversary of Spain-Morocco border crush
Activist Quinndy Akeju said many families "had not yet identified or buried their dead" after some 2,000 migrants -- many...
- The "marches for justice", organised by rights groups, denounced what they said was the authorities' refusal to investigate the causes of the incident
- Amnesty international and other rights groups say at least 37 people were killed on 24 June, 2022, with another 76 migrants still missing
Arts & Culture
‘God’s guests’: Saudis safeguard hajj hospitality tradition
Luxury accommodations and air-conditioned shopping malls have not replaced the deeply ingrained culture of hospitality in Islam's holiest city.
- Hospitality gains even more currency during hajj -- one of the five pillars of Islam that all Muslims with the means must undertake at least once in their lives.
- A state-led initiative by the education ministry that has dispatched hundreds of Mecca's school children to help with hajj.
Geostrategy
US spy agencies detected early signs of Russia revolt, say media reports
According to the US media reports, intelligence officials conducted briefings at the White House, the Pentagon and on Capitol Hill...
- Spy agencies first began tracking indications that Prigozhin and his Wagner mercenary force intended to move against the Russian military leadership in mid-June
- As US intelligence officials pinned down information that Prigozhin was preparing military action, they grew concerned about chaos in a country with a powerful nuclear arsenal
Geostrategy
Greeks head to polls with conservative premier favorite to win
The 55-year-old Harvard graduate, who steered Greece from the coronavirus pandemic back to two consecutive years of strong growth, had...
- Polling stations opened for the second round of general elections in five weeks at 7:00 am (0400 GMT) while the first exit polls are expected at 7:00 pm when polls close
- As election rules this time round would accord up to 50 bonus seats to the winner of the vote, Mitsotakis's New Democracy party is widely projected to emerge victorious
Economy
Libya’s east-based government threatens to block oil exports
Libya's internal turmoil may worsen with the head of the country's east-based administration threatening to block oil and gas exports...
- Hamad also said that he had "frozen" 2022 oil revenues "equivalent to more than 130 billion dinars" (around $27 billion) as a first step
- He accused the government in Tripoli of squandering energy revenues by making "extravagant spending", without elaborating
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
EU hits Google with $3.47 billion fine despite Trump threats
Brussels, Belgium -- The EU slapped Google with a massive 2.95 billion euro ($3.47 billion) antitrust fine for favoring its...
Business
Company News
Latest News
Ceasefire talks falter as Hamas, Israel clash over conditions, Gaza sees more destruction and deaths
Hamas accuses Israel of stalling the truce with new demands on troop withdrawal and prisoner release, while Netanyahu’s office counters,...
Geostrategy
Pope calls for ‘arms to be silenced’ in Christmas appeal
Rome, Italy -- Pope Francis called Wednesday for "arms to be silenced" around the world in his Christmas address, appealing for...
Geostrategy
Egypt to access $1.2 billion in funding after deal with IMF
Washington, United States -- The International Monetary Fund said Tuesday that it has reached a deal with Egyptian authorities allowing the...
Economy
Most Read
Geostrategy
Israeli army says intercepted missile from Yemen before it entered Israeli territory
Jerusalem, Undefined - The Israeli army said Wednesday it intercepted a ballistic missile fired towards the country from Yemen. Air raid...
- Air raid sirens sounded over a wide swathe of central Israel as a precaution against falling debris, but the army said it shot down the projectile before it entered Israeli territo
- Yemen's Iran-backed Huthi rebels have repeatedly launched missiles against Israel in solidarity with the Palestinians since the war in Gaza began more than a year ago
Syria authorities say armed groups have agreed to disband
Syria's new leaders announced Tuesday that they had reached an agreement with the country's rebel groups on their dissolution and...
- Absent from the meeting were representatives of the US-backed, Kurdish-led forces
- Turkey has "real economic leverage" thanks to a 900-kilometer border with Syria
Business
Honda shares soar 16%
The surge came after the auto giant announced a $7bn buyback.
- The buyback announcement came as Honda and its struggling rival Nissan agreed on Monday to launch talks on a merger.
- Honda will buy back its own shares worth up to 1.1 trillion yen, or 23.7 percent of the total issued shares, to improve "efficiency of its capital structure".