Israel ups pressure on famine-struck Gaza City as Trump talks post-war plan
On the ground, Gaza's civil defence agency said Israeli strikes and gunfire killed at least 38 people on Wednesday, including...
Geostrategy
Hezbollah chief rejects disarmament ahead of government talks with visiting US officials
Hezbollah's chief on Monday doubled down on his refusal to give up the group's weapons ahead of talks between Lebanese...
Geostrategy
Business
HSBC posts bumper profits
Its pre-tax profits touched US$12.9bn in Q1 of 2023.
- The bank posted a $9-billion jump in pre-tax profits in the first quarter of 2023, projecting strong earnings for the rest of the year.
- Quinn added that HSBC has also announced its "first quarterly dividend since 2019 of $0.10 per share" and a share buy-back of up to $2 billion
Geostrategy
100,000 Russian dead, wounded in 5 months in Ukraine: W.House
National Security Council spokesman John Kirby said he was not giving estimates of Ukrainian casualties because "they are the victims...
- National Security Council spokesman told reporters that Russia has suffered more than 100,000 casualties, including over 20,000 killed in action
- John Kirby, citing newly declassified US intelligence, said that about half of those killed were soldiers recruited by the private military company Wagner
Business
Morgan Stanley to cut 3,000 jobs after drop in profit
In the wake of reporting a drop in profit during the first three months of the year, the bank aims...
- According to media reports, the bank at the end of last year trimmed nearly 2 percent of its staff or some 1,600 positions
- Financial institutions have been hit hard by a slump in dealmaking caused by the Fed's fight against inflation and the banking crisis
Geostrategy
Tunisia’s main workers union criticizes IMF loan talks
TUNIS, TUNISIA - Tunisia's largest union on Monday attacked the government's handling of negotiations with the International Monetary Fund (IMF) on...
- Despite an agreement in principle on the loan, talks with the IMF have stalled for months over Tunisian President not committing to restructure public bodies.
- The IMF has called for legislation to restructure over 100 state-owned firms, which hold monopolies over many parts of the economy.
Geostrategy
UN holds Afghanistan crisis talks in Qatar, without Taliban
Envoys from the United States, China and Russia as well as major European aid donors and key neighbors such as...
- Women have been barred from most secondary education and universities and prevented from working in most government jobs as well as UN agencies and NGOs.
- The UN said the meeting "is intended to achieve a common understanding” on how to engage with the Taliban" on women's rights, inclusive governance, countering terrorism.
Business
US regulators seize First Republic Bank, sell to JPMorgan Chase
With its assets standing at $233 billion at the end of March, First Republic would be the second largest bank...
- JPMorgan will assume "all deposits, including those uninsured, and a majority of the assets," California's Department of Financial Protection and Innovation said
- First Republic had failed to come up with a workable rescue plan and last week disclosed that it had lost more than $100 billion in deposits in the first quarter
Geostrategy
Suspected Islamic State group chief killed in Syria: Erdogan
"The suspected leader of Daesh, codename Abu Hussein al-Qurashi, has been neutralised in an operation carried out yesterday (Saturday) by...
- The Islamic State group announced the death of its previous leader, Abu Hasan al-Hashimi al-Qurashi, on November 30, replacing him with Abu Hussein al-Qurashi
- An AFP correspondent in northern Syria said Turkish intelligence agents and local military police, backed by Turkey, had on Saturday sealed off a zone in Jindires
UN sending envoy to Sudan as conflict worsens humanitarian crisis
With projectiles crashing into residential buildings, supplies running short and daily life increasingly untenable for civilians, foreign nations have scrambled...
- Secretary-General Antonio Guterres' announcement Sunday came shortly after rival Sudanese forces announced the extension of a truce they have largely violated
- More than 75,000 people have been internally displaced in Sudan, the UN said, and almost 40,000 have crossed borders, mostly into Chad but also South Sudan and Ethiopia
Jewellery with Nazi links set to fetch $150mn at Christie’s auction
Four hundred of the Horten lots will be sold at Christie's Geneva auction house from May 10 to 12. According...
- Christie’s will offer 700 lots from Horten’s collection, including "unique and exceptional pieces" from 20th-century designers including Cartier, Harry Winston and Bulgari
- The sale could eclipse previous records set by Christie's in sales of properties that belonged to actress Elizabeth Taylor in 2011 which exceeded $100 million
Business
Small reactor startups vie to push US into new nuclear era
Small modular reactors -- or SMRs -- similar to the ones currently powering submarines, are touted as the future of...
- Americans remain divided on the use of nuclear energy, although the percentage of those who oppose it has fallen from 54 percent in 2016 to 47 percent in 2022, according to poll.
- Despite the Biden administration's stated support for nuclear power, there are no new projects underway for any traditional nuclear reactors.
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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 ups pressure on famine-struck Gaza City as Trump talks post-war plan
On the ground, Gaza's civil defence agency said Israeli strikes and gunfire killed at least 38 people on Wednesday, including...
Geostrategy
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Lebanon MPs demand UN protection of heritage sites from Israel attacks
The Lebanese MPs called on Azoulay to "urgently prioritize the protection of these historic sites by mobilizing UNESCO’s authority.
Geostrategy
Trump victory reflects Arab-American support, Netanyahu discusses Iran with him amid lingering regional conflict
In a unique campaign twist, Trump captured Muslim voters by pledging diplomacy, promising to end prolonged conflicts and promote stability,...
US Fed expected to look beyond Trump win and cut rates again
The labor market has remained resilient, despite a sharp hiring slowdown last month due to adverse weather conditions and a...
Economy
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Geostrategy
Trump wins White House in stunning comeback
The polarizing Republican's win, following one of the most hostile campaigns in modern US history, was all the more remarkable...
- As supporters chanted "USA!", the 78-year-old added that his "magnificent" win would "allow us to make America great again
- World leaders swiftly pledged to work with Trump, led by Israel and Ukraine where the course of raging conflicts could depend on the new presiden
Geostrategy
Republicans seize control of US Senate: networks
Republicans wrested the US Senate from Democratic control, ending four years in the minority, in its quest to dominate every...
- Republicans reversed the Democrats' 51-49 Senate advantage with at least 51 seats and counting
- If Republicans win all of the toss-up races, they'll end the election with 55 of the 100 seats
Geostrategy
Netanyahu sacks defense minister Gallant over differences on Gaza
Citing a “trust breakdown,” Netanyahu dismissed Defense Minister Gallant amid the Gaza conflict, sparking Tel Aviv protests, as new defense...
- Netanyahu and Gallant have frequently clashed over Israel's military offensive against Hamas following the Palestinian militant group's attack on Israel on October 7 last year
- Israel's campaign has killed 43,391 people in Gaza, a majority of them civilians, according to Gaza health ministry figures which the United Nations considers to be reliable