New wave: Sea power turned into energy at Los Angeles port
San Pedro, United States -- Floating blue paddles dance on the waves that lap a dock in the Port of Los...
Science
US to deny visas to Palestinian officials at UN summit as France pushes statehood recognition
The extraordinary step further aligns President Donald Trump's administration with Israel's government, which adamantly rejects a Palestinian state and has...
Geostrategy
Business
Controversial sale of jewels with Nazi links fetches US$200 million
The extraordinary collection belonged to Heidi Horten who died last year aged 81, with a fortune of $2.9 billion, according...
- The $202 million raised far exceeds the previous record, set during the 2011 auction of the jewellery collection of Elizabeth Taylor
- More than 700 pieces of jewellery are part of this Horten collection, and is being dispersed in tranches to avoid exhausting buyers
Vodafone to axe 11,000 jobs over next three years
"We will simplify our organisation, cutting out complexity to regain our competitiveness," added Della Valle, appointed CEO on a permanent...
- The CEO Della Valle said the company's performance was not good enough, saying that to consistently deliver, Vodafone must change
- Her predecessor Nick Read stepped down in early December after a four-year tenure marked by a steep fall in the company's share price
Economy
Turkey’s quake-hit economy to grow less this year: EBRD bank
The EBRD forecasts Turkish GDP will expand 2.5 percent this year, cutting prior guidance of 3.0 percent and citing the...
- EBRD chief economist Beata Javorcik said that Turkey has been prioritising growth over macroeconomic stability over the last many years
- European Bank for Reconstruction and Development forecast that Russian economy will shrink 1.5%, compared with a previous estimate of a 3.0% contraction
Tunisia sentences opposition chief to one year’s prison on terrorism charge
Ghannouchi, 81, a former speaker of parliament, was arrested last month over different accusations, part of what Human Rights Watch...
- Rached Ghannouchi is among more than 20 of Saied's political opponents, including former ministers and business figures, arrested since February
- The United States said the arrests "represent a troubling escalation by the Tunisian government against perceived opponents"
Business
ECB fines Goldman Sachs US$7.2m for misreporting capital needs
BERLIN, GERMANY - The European Central Bank (ECB) has fined US financial giant Goldman Sachs US$7.2 million (6.63 million euros) for...
- Goldman Sachs Bank Europe was found to have "breached credit risk reporting rules" in 2019, 2020 and 2021, the ECB said in a statement.
- Capital ratios are key indicators of a bank's strength and ability to absorb losses in the event of market turmoil.
Geostrategy
UAE invites Syrian President to COP28 summit in Dubai
The United Arab Emirates has invited Syrian President Bashar al-Assad to attend the UN climate summit in Dubai later this...
- Bashar al-Assad has received an invitation to an Arab summit in Saudi Arabia scheduled for Friday.
- Since Syria's war broke out, President Assad has held onto power and clawed back lost territory.
Business
European Union backs Microsoft’s Activision Blizzard takeover
The deal is also under threat in the US, where last year the Federal Trade Commission launched a legal action...
- Activision Blizzard's hit titles also include "Candy Crush" and "World of Warcraft". If it goes ahead, it will be the biggest deal ever in gaming if it goes through.
- The European Commission, the bloc's powerful anti-trust authority, said the approval was "conditional on full compliance with the commitments offered by Microsoft".
Geostrategy
Iraqi Kurds await oil export renewal deal with Turkey
ARBIL, IRAQ- Officials in Iraqi Kurdistan say Baghdad is still waiting to reach a "final agreement" with Ankara to resume...
- Crude sales were Kurdistan's economic lifeblood, with 475,000 barrels exported daily via the Turkish port of Ceyhan.
- The suspension of exports represents a shortfall of around "one billion dollars", analyst Kovand Shirwani said.
Geostrategy
Lebanese central bank chief likely to miss hearing in French probe
In March 2022, France, Germany and Luxembourg seized assets worth 120 million euros ($130 million) in a move linked to...
- Salameh, 72, has been the target of a series of judicial investigations both at home and abroad on allegations including fraud, money laundering.
- European investigators looking into the fortune he has amassed during three decades in the job had scheduled a hearing in Paris for Tuesday.
Market Report
Stock markets advance on US debt, elections
Major stock markets advanced after President Joe Biden said he was "optimistic" about finding an agreement on averting a first-ever...
- The European Commission boosted its 2023 economic growth outlook for the eurozone but raised the inflation forecast for the area.
- European gas prices reached the lowest levels in almost two years as concerns about tight supplies ease heading into the summer.
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
New wave: Sea power turned into energy at Los Angeles port
San Pedro, United States -- Floating blue paddles dance on the waves that lap a dock in the Port of Los...
Science
Company News
TSMC’s April revenue up 60%
Business
Latest News
ICC issues arrest warrants for Netanyahu, Gallant, Deif
The court said it had found "reasonable grounds" to believe Netanyahu and Gallant bore "criminal responsibility" for war crimes
Geostrategy
Adani Group tanks after US bribery charges
India's opposition leader demands Gautam Adani's arrest; Kenya scraps airport, power deals with the Group that has significant investments in...
Business
Banana taped to a wall sells for $6.2 million
The provocative work of conceptual art by Italian artist Maurizio Cattelan debuted at the Art Basel show in Miami Beach...
Arts & Culture
Most Read
Hezbollah says Israel ‘cannot impose conditions’ for truce
U.S. envoy Amos Hochstein announced "additional progress" in Lebanon-Israel ceasefire talks, heading to Israel to finalize an agreement amidst escalating...
- "Israel cannot defeat us and cannot impose its conditions on us," Hezbollah leader Naim Qassem said in an address broadcast shortly after Hochstein announced his travel plans
- Israeli Foreign Minister Gideon Saar, in a near-simultaneous statement, said any ceasefire deal must ensure Israel still has the "freedom to act" against Hezbollah
Geostrategy
US vetoes Gaza ceasefire call at UN
The resolution demanded "an immediate, unconditional and permanent ceasefire" in the war between Israel and the Palestinian group, along with...
- But the wording angered Israel, with a senior US official warning ahead of the vote that the resolution had "the potential only to buoy Hamas".
- Since the beginning of the conflict, the Security Council has struggled to speak with one voice, as the United States used its veto power several times.
Geostrategy
US envoy presses Israel-Hezbollah truce bid in Lebanon visit
Hochstein said an end to the war was "now within our grasp", while Hezbollah-allied parliament speaker Nabih Berri, said the...
- The United States and France have spearheaded efforts for a truce in the conflict
- Hochstein said an end to the war was "now within our grasp"