Turkey court ousts leadership of opposition’s Istanbul branch
Turkey's main opposition CHP party on Tuesday vowed to fight after a court dismissed the leadership of its Istanbul branch...
Geostrategy
Big dreams but no protein shake: Yemeni bodybuilder fighting to make it
Al Mukalla, Yemen -- In a dimly lit, suffocatingly hot gym in Yemen, bodybuilder Saleh Hussein al-Raidi wraps his hands...
Arts & Culture
UK to hold first AI summit, says Sunak on his US visit
Opening his two-day trip, the prime minister announced that Britain would hold the world's first summit on artificial intelligence in...
- Britain's PM Rishi Sunak will meet President Joe Biden at the White House on Thursday for talks during which he will also voice unstinting support for Ukraine
- Sunak opened his two-day US visit by laying a wreath at the Tomb of the Unknown Soldier at Arlington National Cemetery, with soldiers firing a 19-gun salute
Geostrategy
US remains invested in Gulf partnerships, Blinken tells diplomats
Blinken spoke during a Gulf Cooperation Council ministerial meeting in the capital Riyadh following talks with Saudi Foreign Minister Prince...
- The meetings came a day after Blinken flew into Jeddah, kickstarting a visit aimed at boosting ties with Saudi Arabia, which has begun forging closer ties with Washington's rivals.
- "The GCC is the core of our vision for a Middle East that is more stable, more secure, more prosperous," Blinken said at the opening of the US-GCC ministerial meeting.
Economy
Turkish Lira sinks to new low more than week after Erdogan reelection
Erdogan was sworn in on Saturday after winning a historic election runoff on May 28 and named a new cabinet...
- The currency, which was propped up by the central bank before the presidential election, fell seven percent to 23.17 lira per dollar.
- Guldem Atabay, an economist, said the lira's decline showed a decrease in costly interventions in the foreign exchange market by the central bank.
Geostrategy
Ruling Fatah party faces decline in West Bank, says official
His comments were a rare acknowledgement by a senior Abbas ally of waning fortunes for the party which has dominated...
- "I can tell you there is something of a decline in Fatah's presence among the masses," Mahmud Aloul, official of President Mahmud Abbas' Fatah party said.
- At 72, Aloul is one of the most senior figures in the Palestinian movement and is often mentioned as a possible successor to 87-year-old Abbas.
Business
Inditex posts record profit
The firm attributed the figures to strong sales which reached $8.15bn.
- The Spanish group said its net profit jumped 54 percent to 1.17 billion euros ($1.25 billion) in the three-month period ending on April 30.
- Excluding a 216 million provision a year ago to deal with the consequences of Russia's invasion of Ukraine, the firm's profits were up 24 percent.
Economy
OECD slightly raises world GDP growth forecast to 2.7 percent
The Paris-based organization forecast an economic expansion of 2.7 percent, up from 2.6 percent in its previous report in March,...
- A drop in energy prices, the untangling of supply chain bottlenecks and China's sooner-than-expected reopening are contributing to the recovery, the OECD said.
- Among its 38 members -- an eclectic group ranging from the United States to Germany, Mexico, Japan and New Zealand -- inflation is expected to slow to 6.6 percent this year.
Geostrategy
CNN chief Chris Licht has stepped down: Warner Brothers
After joining CNN last year, Licht came under fire for editorial decisions including a recent town hall meeting with former...
- Licht had sharply criticized CNN's news coverage of Trump under former news chief Jeff Zucker in a recent Atlantic article.
- The article also characterized Licht as aloof and distrusted among rank-and-file network journalists, who were also critical of his handling of other controversies.
Business
Swedish group to supply ‘green steel’ to Mercedes
Stockholm, Sweden -- Sweden's H2 Green Steel company said Wednesday it would supply German car maker Mercedes-Benz with 50,000 tons of...
- H2 Green Steel, whose first plant is under construction in northern Sweden, plans to use hydrogen made from renewable energy to produce steel instead of highly coal.
- With around 900 kilos of steel needed per car, the contract would enable Mercedes-Benz to produce around 55,000 cars with a lower CO2 footprint.
Arts & Culture
AI meets VR to keep Holocaust memory alive
Through AI, users of a VR headset can have a "conversation" with Holocaust survivor Inge Auerbacher, asking about her encounters...
- The project is a collaboration between Los Angeles-based company StoryFile, the World Jewish Congress and Facebook-owner Meta,
- StoryFile co-founder Stephen Smith, who has worked in Holocaust education, said the technology allows users to "talk to history through the people who went through it".
Geostrategy
Kuwait elects new parliament dominated by opposition
Lawmakers from opposition won 29 of the 50 seats up for grabs in the election, according to results announced by...
- According to the Kuwait Transparency Society, an NGO, turnout touched 50 percent one hour before polls closed, which is lower than last year's voter turnout of 63 percent
- Janan Bushehri. the only female member to be elected in the new parliament, said that she expected it to seek stability and make progress on economic or political issues
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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
Turkey court ousts leadership of opposition’s Istanbul branch
Turkey's main opposition CHP party on Tuesday vowed to fight after a court dismissed the leadership of its Istanbul branch...
Geostrategy
Company News
Israel troops push into central Rafah
Geostrategy
Latest News
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...
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...
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...
Geostrategy
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Geostrategy
Celebrations erupt across Syria to mark end of 50 years of Baath party rule
Bashar al-Assad's whereabouts not clear, but his key backer Russia said he had resigned from the presidency and left Syria....
- Protests spread like wildfire in neighbouring provinces, with anti-government demonstrators toppling statues of late president Hafez al-Assad in the Jaramana suburb of Damascus
- The Israeli army said Saturday that its troops were assisting UN peacekeeping forces in the Syrian-controlled part of the Golan Heights in repelling an attack "by armed individuals
Syria: Assad faces stunning setbacks as rebels seize Daraa, Hama, and Aleppo in quick succession
While Aleppo and Hama, the two other main cities taken from government control in recent days, fell to an Islamist-led...
- Since a rebel alliance led by the Islamist Hayat Tahrir al-Sham (HTS) launched its offensive on November 27, the government has lost Aleppo and subsequently Hama in central Syria
- Syria's civil war, which began with Assad's crackdown on democracy protests, has killed more than 500,000 people and forced more than half the population to flee their homes
Geostrategy
Turkey confirms Syria talks with Russia and Iran
A meeting was expected on the forum's sidelines between Turkey, and Damascus allies Iran and Russia.
- Turkey's Foreign Minister Hakan Fidan "will meet with the Russian and Iranian ministers"
- The so-called Astana process involving the three countries was launched by Kazakhstan in 2017