Lost for 50 years, Nobel patents found in Swedish summer home
Stockholm, Sweden -- A dozen patents belonging to Swedish inventor and philanthropist Alfred Nobel and lost for almost 50 years...
Geostrategy
France issues arrest warrant for Syria’s Assad over 2012 journalist killings: lawyers
Paris, France -- French judicial authorities have issued arrest warrants for ousted Syrian president Bashar al-Assad and six other top...
Geostrategy
Business
Swiss Parliament to examine UBS’ Credit Suisse takeover
Switzerland's parliament will probe the government-orchestrated takeover of the stricken Credit Suisse bank by larger rival UBS. A parliamentary commission...
- The commission will examine "the legality, opportunity and effectiveness of the activities" of the Swiss authorities in the takeover.
- The commission will be composed of 14 lawmakers - seven from each house of parliament - with all major parties represented.
Geostrategy
Tunisia visit: EU chief to discuss economic and migration concerns
"Discussions will focus on the bilateral relations between the EU and to Tunisia," Commission spokesman Eric Mamer said. "An agreement...
- The European leaders will meet Sunday with Tunisian President Kais Saied, whose country is going through a dire financial crisis.
- Tunisia's coastline is less than 90 miles from the Italian island of Lampedusa, and has long been a stepping stone for migrants.
Economy
Swiss group to enquire about Lebanon’s central bank chief in Beirut
The delegation will meet a local judge and might seek to question individuals over the wealth of Salameh and his...
- Lebanon "was informed by the Swiss authorities that a Swiss judicial delegation will visit Lebanon soon" over Riad Salameh's case.
- Salameh, who denies all accusations against him, continues to serve as central bank governor as his mandate ends in July.
Geostrategy
Saudi Arabia’s relations with US, China ‘not zero-sum game’
Foreign Minister Prince Faisal bin Farhan, in a joint press conference with Blinken, played down talk that the oil-rich kingdom...
- China's growing role in the Middle East was demonstrated when it brokered a surprise rapprochement between Saudi Arabia and Iran in March.
- Prince Faisal also defended the controversial decision to lift Syria's Arab League suspension, which came shortly after the start of the country's civil war 12 years ago.
Business
Autoliv to cut 11% workforce
It will slash up to 8,000 jobs in order to reduce costs.
- Autoliv said the cuts would be made globally but "particularly within its European operations" and 6,000 would be "direct positions" while 2,000 would be "indirect positions"
- For the first quarter of 2023, net sales of the Swedish-American company grew by 17 percent to $2.5 billion, while its net profit fell by 11 percent to $74 million
Economy
Eurozone in recession after two successive quarters of shrinking GDP
The eurozone entered into a technical recession at the start of the year, shrinking by 0.1 percent for a second...
- The worse-than-expected figures come as inflation and higher interest rates have curbed demand in Europe's largest economy.
- Two consecutive quarters of shrinking gross domestic product is the threshold for a technical recession.
Geostrategy
US, Saudi Arabia urge Western nations to repatriate IS militants
Riyadh, Saudi Arabia -- Riyadh and Washington urged Western governments Thursday to repatriate citizens who joined the Islamic State group in...
- Saudi Foreign Minister Prince Faisal bin Farhan said it was "disheartening and absolutely unacceptable" that some wealthy countries had not brought their nationals home.
- The United Nations estimates that IS still has 5,000 to 7,000 loyalists across the two countries, roughly half of whom are fighters.
Business
Argentina football star Messi joining MLS side Inter Miami after PSG exit
The romance of a Barcelona return and prospect of eye-watering riches in Saudi Arabia fell by the wayside as Messi...
- MLS and Inter Miami confirmed Messi's announcement on social media, although the American league noted "work remains to finalise a formal agreement"
- In their first game since Messi's announcement on Wednesday, Miami defeated Alabama non-league side Birmingham Legion 1-0 in the US Open Cup to reach the semi-finals
Business
WhatsApp debuts one-to-many broadcasting ‘Channels’
The debut comes as an array of agencies and organizations grow disenchanted with Elon Musk-owned Twitter in the face of...
- Meta said WhatsApp's priority will continue to be private messaging, but that users have been asking for a feature like Channels for years
- Meta said it is exploring the option of making encrypted channels available for groups such as nonprofits or health organizations
Business
Nasdaq slides as investors trade tech for industrial shares
The countervailing movements, according to analysts, were evidence of a rotation away from the tech-dominated winners from the earliest part...
- After a stretch in which markets were dominated by worries of a potential debt default followed by relief at a fiscal agreement, this week's news flow has been much slower
- Among individual companies, shares of Warner Bros. Discovery gained 8.4 percent as it announced that embattled CNN news chief Chris Licht had stepped down
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
Lost for 50 years, Nobel patents found in Swedish summer home
Stockholm, Sweden -- A dozen patents belonging to Swedish inventor and philanthropist Alfred Nobel and lost for almost 50 years...
Geostrategy
Company News
Latest News
Israel troops push into central Rafah
Geostrategy
European countries suspend Syrian asylum decisions after Assad’s fall
While Berlin and other governments said they were watching the fast-moving developments in the war-ravaged nation, Vienna signaled it would...
Geostrategy
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...
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...
Business
Most Read
Assad’s fall reshapes Middle East politics, redefining power dynamics across the region
The Islamist Hayat Tahrir al-Sham rebels shocked the world by swiftly seizing Aleppo and Damascus, overshadowing global focus on the...
- Assad had for nearly 14 years held off an uprising that many believed had been exhausted, but his downfall followed a series of battlefield convulsions for other allies of Iran
- Israel has all but decapitated the Hezbollah leadership in Lebanon since September, while the killing of Hamas figureheads has dealt major blows to Assad's key backer Tehran
Geostrategy
UK Prime Minister to talk trade, Middle East during Gulf visit
London, United Kingdom -- Britain's leader Keir Starmer makes his first trip to the Gulf as prime minister from Sunday, seeking...
- Starmer will first visit the United Arab Emirates and then travel to Saudi Arabia, before stopping off in Cyprus on his way back to London on Tuesday.
- Starmer's trip comes after Britain last week rolled out the diplomatic red carpet for Qatar's emir Sheikh Tamim bin Hamad Al-Thani who enjoyed a state visit to the UK.
Geostrategy
Trump touts tariffs, mass deportations and NATO skepticism
In his first formal television interview -- and just six weeks before he takes office -- Trump again signaled that...
- He also stressed that his campaign promises of huge tariffs -- including against top US trading partners Canada, Mexico and China -- would be enacted.
- As to whether Americans would see higher prices as a result of those tariffs, Trump said that "I can't guarantee anything. I can't guarantee tomorrow."