Israel expecting one million Gazans to flee new offensive, planning “humanitarian area” for them
The Israeli military has been gearing up to seize Gaza City, the Palestinian territory's largest urban centre, with the United...
Geostrategy
Post SCO summit, Kim, Putin at Xi’s side for massive China military parade in Beijing
In unprecedented scenes, Xi shook both their hands and chatted with the pair as they walked down a red carpet...
Geostrategy
Business
UK to scrap energy windfall tax if oil, gas prices drop further
The UK government said it would scrap a windfall tax on the energy sector should oil and gas prices drop...
- The government said it would return to 40 percent should average Brent North Sea oil fall to, or below, $71.40 per barrel for two quarters in a row.
- Should prices remain above historical norms, the windfall tax would remain until October 2028 as previously announced.
After missing out on Messi, Saudis give Benzema gala welcome
Fireworks and flame-throwers greeted Benzema, wearing their black and yellow kit with the number nine, at Al-Ittihad's 60,000-seater stadium in...
- Karim Benzema joins Portugal idol Cristiano Ronaldo as the latest superstar to join the Saudi Pro League, which has a hit-list of high-profile targets
- Banners welcoming Benzema adorned the city, and according to press reports, 60,000 tickets at the symbolic price of nine riyals ($2.50) sold out within five hours
Geostrategy
Sudan authorities declare UN envoy ‘persona non grata’
KHARTOUM, SUDAN - Sudanese authorities loyal to the regular army have declared UN envoy Volker Perthes "persona non grata", accusing him...
- In a letter to the United Nations, Sudan's army chief accused the UN envoy of bias, not respecting "national sovereignty".
- The UN says nearly two million people have been displaced, including 476,000 who have sought refuge in neighboring countries.
Economy
Most markets rise on hopes for US Federal Reserve rate pause
Expectations the Fed will stand pat next week -- for the first time since starting its hiking cycle last year...
- But news of a forecast-busting jump in jobless claims for last week -- to the highest since October 2021 -- cemented the belief officials will pause until next month.
- All three main US indexes ended higher, with the S&P 500 entering a bull market after rising more than 20 percent from its October low.
Geostrategy
Palestinian president Mahmud Abbas to visit China next week
"At the invitation of President Xi Jinping, president of the state of Palestine Mahmud Abbas will pay a state visit...
- Xi Jinping last December visited Saudi Arabia, where he met with Abbas and pledge to "work for an early, just and durable solution to the Palestinian issue".
- In April, Chinese Foreign Minister Qin Gang told his Israeli and Palestinian counterparts that his country was willing to aid peace negotiations.
Ruby gemstone sells for record $34.8 million
The 55.22-carat gemstone named Estrela de Fura was already the largest ruby ever to go under the hammer. It was...
- Offered at a starting price of $21 million, it sold for $30 million plus fees and commissions to an anonymous telephone buyer
- The previous record belonged to a 25.59-carat Burmese ruby, which sold for a total price of $30.33 million by Sotheby's in Geneva in 2015
The phase down of fossil fuels is inevitable: Emirati COP28 chief
Al-Jaber, who runs the Abu Dhabi National Oil Company (Adnoc), defended a COP28 roadmap that includes a "global goal to...
- "The phase down of fossil fuels is inevitable," Sultan al-Jaber said on the sidelines of technical climate talks six months ahead of the summit
- On Wednesday, al-Jaber signed a statement with EU Commission chief calling for “a transition towards energy systems free of unabated fossil fuels"
Days after being re-elected, Turkey’s Erdogan appoints new central bank governor
Hafize Gaye Erkan -- whose appointment was published in the official gazette on Friday -- has taken over the post...
- Erkan, a former co-CEO First Republic Bank and managing director at Goldman Sachs, will be the first woman to head the central bank
- Turkish president unveiled a new cabinet on Saturday appointing Mehmet Simsek, a former Merrill Lynch economist, as finance minister
Not my vision of the future: Meta’s Zuckerberg on Apple Vision Pro
A new-generation Quest 3 with improved performance and slimmed design will be available later this year at a starting price...
- Zuckerberg's comments came during the first all-hands gathering at its Silicon Valley campus since the pandemic, and just days after Apple unveiled Vision Pro mixed reality headset
- Meta makes Quest virtual reality headsets and has invested heavily in Zuckerberg's belief that internet life will one day play out in virtual worlds referred to as the metaverse
Syrians lose life-saving care as Turkey halts medical visits
Seriously ill Syrians in the country's last rebel bastion of Idlib used to be able to access life-saving care across...
- Doctors in Idlib refer most heart and cancer patients to Turkey, where they can receive free treatment under an agreement between local authorities and Ankara
- But after the quake ravaged health facilities on Turkish side of the border, Ankara halted medical visits through the Bab al-Hawa crossing, the sole access point for Idlib
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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
Israel expecting one million Gazans to flee new offensive, planning “humanitarian area” for them
The Israeli military has been gearing up to seize Gaza City, the Palestinian territory's largest urban centre, with the United...
Geostrategy
Company News
Latest News
New Syrian rulers pledge stability, accountability, and reconstruction after Assad’s ouster
Abu Mohammed al-Jolani, the Islamist leader who headed the rebel offensive, had previously announced talks on a transfer of power...
Air passenger numbers to top five billion for the first time in 2025: IATA
Geneva, Switzerland -- Air passenger numbers are forecast to top five billion for the first time next year and the sector's...
Business
Syria rebel leader vows to pursue former officials for torture, war crimes
Syria's Islamist rebel leader on Tuesday vowed to pursue former senior government officials responsible for torture and war crimes, a...
Most Read
Business
UAE to introduce 15% tax rate on corporate profit from Jan 2025
Dubai, United Arab Emirates -- The United Arab Emirates, home to the regional headquarters of numerous multinational companies, said Monday it...
- The move will bring the UAE in line with efforts towards a global minimum corporate rate.
- The UAE, long considered a tax haven, last year began taxing the profits of companies worth more than 375,000 dirhams ($102,000) at nine percent.
Business
Oil prices higher on China boost, Syria uncertainty
Major stock markets diverged as investors reacted to political crises in South Korea and France, and tracked the perspectives for...
- Oil prices rose more than one percent as traders tracked developments in Syria after president Bashar al-Assad fled the country over the weekend as rebels swept into Damascus.
- China is battling sluggish domestic consumption, a persistent crisis in the property sector and soaring government debt -- all of which threaten Beijing's official growth target.
ECB to cut rates again amid bleak eurozone outlook
The European Central Bank is expected to cut interest rates again this week amid a darkening outlook, with political turbulence...
- The central bank hiked rates aggressively from mid-2022 to tame surging energy and food costs
- Eurozone's anaemic growth rates are weighing down the broader single currency area