Ancient tombs unearthed in Iraq due to drought
Khanke, Iraq - Archaeologists in drought-hit Iraq have discovered 40 ancient tombs after water levels in the country's largest reservoir...
Science
Israeli minister calls to annex Gaza if Hamas doesn’t surrender
Israel's Finance Minister Bezalel Smotrich on Thursday called on the government to begin annexing parts of the Gaza Strip if...
Geostrategy
Economy
Iraq to resume Kurdish oil exports to Turkey Saturday
On Thursday the Kurdish authorities said in a statement that "the Kurdistan regional government and the federal authorities have reached...
- The Kurdish regional government had for years earned billions of dollars in revenues exporting oil to Turkey without the Iraqi federal government's approval
- Following years of wrangling, a preliminary agreement was reached in early April, granting the Iraqi federal government control over exports
Economy
US default would have serious repercussions, says IMF
The International Monetary Fund warned of severe consequences if the US defaults on its debt, ahead of a rapidly-approaching deadline...
- Democrats have been calling for a "clean" increase of the borrowing limit, accusing Republicans of using extreme tactics to push their political agenda.
- The lifting of the debt ceiling has historically been seen as a routine affair, given that it involves raising money to pay for spending commitments.
Geostrategy
Global leaders urge ceasefire between Israel, Palestinian groups
The foreign ministers of Egypt, France, Germany and Jordan called for an end to the violence between Israel and Gaza...
- "The bloodletting must end now," said German Foreign Minister Annalena Baerbock.
- Jordan's Foreign Minister Ayman Safadi also said the "negative developments must end.
Arts & Culture
Iraqi museum damaged by IS works toward reopening
IS militants used sledgehammers and power tools to deface ancient statues and pre-Islamic treasures housed in the museum.
- A gaping hole remains in the floor of the museum's famed Assyrian gallery, caused by a bomb explosion.
- The artefacts are being revived with financing from the International Alliance for the Protection of Cultural Heritage in Conflict Areas (ALIPH).
Economy
Bank of England hikes interest rate to highest level since 2008
The Bank of England lifted its key interest rate to the highest level since the 2008 financial crisis, noting inflation...
- Global policymakers are battling elevated inflation caused largely by runaway energy bills.
- Bank of England warned of "considerable uncertainties" on when UK inflation would return to its two-percent target.
Business
Foxconn Q1 profit dips 56%
Foxconn blamed the plunge on weakened demand.
- The net profit of Foxconn dropped 56 percent during the first quarter of 2023, compared to 2022 Q1, with a net profit $417 million.
- Foxconn said its sale is likely to drop during the second quarter of 2023 as well, citing 'slow season' as a reason for it.
Geostrategy
Yemen peace push ‘serious’ but next steps unclear: Saudi envoy
"Everybody is serious. Serious means everybody is looking for peace," Mohammed al-Jaber said in his first extensive comments after meeting...
- Jaber, Riyadh's ambassador to Yemen, travelled to Sanaa in April as part of a plan to "stabilize" the truce, which officially expired in October.
- The Houthis see Saudi Arabia as a party to the conflict, whereas Jaber indicated that Riyadh sees itself as more of a mediator trying to facilitate a truce.
Business
Emirates Group yearly profit $3bn
The group declared a dividend of $1.2 billion to its owner.
- The Emirates airline business alone banked $2.9 billion after returning a $1.1 billion loss in the previous financial year.
- The Middle East's biggest airline had posted a $5.5 billion loss for Covid-ravaged 2020-2021, its first in over three decades.
Business
Nissan 2022 profit $1.6bn
The company sold 3.16 million vehicles for the year to march 2023.
- Nissan registered a net profit of 220 billion yen for the financial year 2022, pipping its original predicted profit of 220 billion yen.
- The company said the gains were the result of sales improvements and cost-cutting, as well as favorable foreign exchange rate fluctuations.
SoftBank Group logs $7.2bn loss
The bank took hits across a range of start-up investments.
- The company said its annual net loss came to 970 billion yen on sales of 6.57 trillion yen, reflecting losses from its Vision Fund portfolios
- The Vision Fund 1 and 2 (VF1, VF2) vehicles were hit by the global tech rout, SoftBank Group said in a statement
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Ancient tombs unearthed in Iraq due to drought
Khanke, Iraq - Archaeologists in drought-hit Iraq have discovered 40 ancient tombs after water levels in the country's largest reservoir...
Science
Company News
Latest News
Divided G20 fails to agree on climate action, Ukraine war escalation dominates Rio summit talks
G20 leaders in Rio failed to resolve UN climate talks deadlock, merely stating funding for developing countries battling global warming...
UN climate chief at deadlocked COP29: ‘Cut the theatrics’
As the UN climate talks limp into a second week in Azerbaijan, the world is no closer to a finance...
Geostrategy
G20 leaders to grapple with climate, taxes, Trump comeback
G20 leaders gather in Brazil on Monday to discuss fighting poverty, boosting climate financing and other multilateral initiatives that could...
Most Read
Arts & Culture
Magritte’s ‘Empire of Light’ to fetch nearly $100m at New York auction
New York, United States -- With a Magritte painting estimated to sell for nearly $100 million, drawings by pop artist Keith...
- The seminal 1954 work is one of a series of paintings from the Surrealist master depicting the interplay of shadow and light.
- Its estimated price is $95 million, which would easily shatter the previous record for a Magritte, $79 million in 2022.
Israel escalates bombing in Lebanon as Hezbollah fires projectiles; UN warns of Gaza famine
Israel escalated strikes on Hezbollah in Beirut and Tyre, targeting strongholds, while Hezbollah launched retaliatory attacks on Haifa, hitting a...
- Israel has escalated its bombing of Lebanon since September 23 and has since sent in ground troops, following almost a year of limited, cross-border exchanges of fire
- Israel's military chief Hezbollah had already "paid a big price" but Israel will keep fighting until thousands of its residents displaced from the north can return safely
Geostrategy
With Trump’s presidency, expect pro-Israel policies to replace Biden’s nuanced approach in Middle East relations
Trump’s return could shift US policy on Israel, with his Republican Party's pro-Israel stance and his preference for "America First"...
- Trump, unlike every other recent president, has never committed to a fully sovereign, independent Palestinian state
- He leads a Republican Party so pro-Israel that some local offices handed out Israeli flags alongside Trump yard-signs