US AI firm Palantir announces joint venture in Dubai
Dubai, United Arab Emirates -- US software firm Palantir launched a joint venture with the Dubai government's investment arm on...
Business
Geostrategy
TotalEnergies approves restart of $20-bn Mozambique gas project
Paris, France -- France's TotalEnergies said Saturday the consortium it leads to build a $20-billion liquified natural gas project in...
- The Mozambique LNG project, the largest private investment in Africa's energy infrastructure, is expected to generate thousands of jobs.
- Work was frozen after militants launched a deadly attack on the site of the project near the Tanzanian border in March 2021, resulting in around 800 deaths.
Geostrategy
Mamdani in touching distance of becoming NY mayor
New York, United States -- An unknown local lawmaker just a few months ago, leftist Zohran Mamdani has burst onto...
- The 34-year-old election frontrunner was born in Uganda to a family of Indian origin and has lived in the United States since he was seven.
- He is the son of filmmaker Mira Nair ("Monsoon Wedding," "Salaam Bombay!") and Mahmood Mamdani, a professor and respected Africa expert.
Economy
US Fed will likely cut again despite economic murkiness from shutdown
The central bank's second-to-last rate meeting of the year is taking place against the backdrop of a weeks-long standoff between...
- Without these key insights into the US economy, Fed officials will be forced to set interest rates without the full spectrum of data they normally rely upon.
- The US central bank has a dual mandate from Congress to act independently to tackle both inflation and unemployment.
Economy
Iran declares major lender bankrupt
Iran declared one of the country's largest private banks bankrupt with its assets absorbed by the state, official media reported...
- Founded in 2012, Ayandeh Bank had a network of 270 branches across the country, including 150 in the capital Tehran alone
- But it had more recently been crippled by debt, with accumulated losses amounting to the equivalent of about $5.2 billion
Geostrategy
The armed groups clashing with Hamas in Gaza
Shortly after a ceasefire took effect in Gaza, clashes erupted between armed groups, some backed by Israel and others loyal...
- Some of these groups are criminal gangs, others consist of members of historically influential Gaza families, and some combine both elements, experts told AFP
- Armed gangs in Gaza are reportedly acting under Israeli protection, and allegedly loot aid convoys entering the territory, where shortages remain dire after Israel's blockade
Geostrategy
Afghanistan, Pakistan seek to firm up truce in Istanbul talks
Afghan and Pakistani negotiators were locked in talks to hammer out a lasting ceasefire Saturday, with Islamabad warning that if...
- Two weeks ago, the Taliban government launched a border offensive following explosions in Kabul which it blamed on its Pakistani neighbour
- Vowing a strong response, Islamabad then carried out "precision strikes" against armed groups on Afghan soil which are at the heart of the dispute
Arts & Culture
Picasso portrait of Dora Maar sells for $37 mn
The Spanish master painted it on July 11, 1943 and it was acquired in August 1944 by a private French...
- Entitled "Bust of a Woman With a Flowery Hat", the oil portrait of photographer, painter and poet Maar is a riot of colours and thick, black lines
- The Spanish master painted it on July 11, 1943 and it was acquired in August 1944 by a private French collector, grandfather of the former anonymous owners
Geostrategy
Trump heads for Asia and Xi trade talks
US President Donald Trump left on Friday for Asia and high-stakes trade talks with Chinese counterpart Xi Jinping -- adding...
- Trump is set to meet Xi in South Korea on the last day of his regional swing in a bid to seal a deal to end the bruising trade war between the world's two biggest economies
- He will also visit Malaysia and Japan on his first trip to Asia since he returned to the White House in January in a blaze of tariffs and international dealmaking
Economy
China vows massive high-tech sector development in next decade
Beijing, China -- China will develop its high-tech sector on a massive scale in the next decade, top officials vowed...
- The country has poured support and investment into developing its science and technology sectors, part of ongoing efforts to present itself as a world leader in those areas.
- Domestically, China has been beset by sluggish spending, a protracted property sector crisis and a demographic crunch as its population starts to decline.
Geostrategy
Rubio seeks quick deployment of international Gaza force
He confirmed that Israel would enjoy vetoes on the force composition, amid reports Israel has objected to participation by Turkey.
- Turkey, a NATO member and one of the region's strongest militaries, was the first Muslim-majority country to recognize Israel.
- Indonesia, the world's largest Muslim-majority state, has said it is ready to send troops to Gaza.
Company News
OPEC+ looks set to further hike oil output
Geostrategy
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OPEC+ looks set to further hike oil output
Since April, the V8 group -- comprising Saudi Arabia, Russia, Iraq, the United Arab Emirates, Kuwait, Kazakhstan, Algeria and Oman...
Geostrategy
Social media fooled by AI video of ‘sky stadium’ for Saudi 2034 World Cup
Paris, France - An AI-generated video claiming to show one of the football stadiums for the 2034 FIFA World Cup...
Economy
UN Security Council backs Morocco plan for W. Sahara autonomy
The UN Security Council voted Friday in favor of a resolution backing Morocco's autonomy plan for Western Sahara as the...
Geostrategy
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Business
AI giants turn to massive debt to finance tech race
New York, United States -- Meta raised $30 billion in debt on Thursday, as tech giants flush with cash turn...
- Meta raised $30 billion in debt and demand for its bonds was reportedly four times greater than supply.
- The $30 billion in bonds scheduled to be repaid over the course of decades is intended to provide money to continue a breakneck pace of AI development.
Geostrategy
Trump stirs global tensions with surprise nuclear test order
The announcement came in the wake of Russia saying it had tested a nuclear-powered and nuclear-capable torpedo, as well as...
- The last US nuclear test explosion was in September 1992, a 20-kiloton underground detonation at the Nevada Nuclear Security Site.
- Then-president George H.W. Bush imposed a moratorium on further tests in October 1992 that has been continued by successive administrations.
Business
Amazon shares surge as AI boom drives cloud growth
San Francisco, United States - Amazon's share price skyrocketed by more than ten percent on Thursday after the online retail...
- The e-commerce giant's Amazon Web Services division, which recently suffered a global outage, saw revenues jump 20 percent to $33 billion in the third quarter
- Amazon's major rivals in the cloud computing space, Microsoft and Google, on Wednesday also reported sales increases in their cloud computing business