25 countries suspend postal services to United States over tariffs: UN
The Trump administration said late last month that it will abolish a tax exemption on small packages entering the United...
Economy
Electric cars are more eco-friendly even in US, study finds
Paris, France -- Electric vehicles are less harmful to the environment than their petrol-guzzling counterparts even in the United States,...
Research
Business
Dubai records $2.94 billion in weeklong real estate transactions
Dubai, UAE -- A total of 2,049 real estate transactions worth AED10.8 billion ($2.94 billion) were conducted during the week...
- The DLD report said that 172 plots were sold for AED 1.58 billion, while apartment and villa sales stood at 1,877, totaling AED 4.23 billion.
- The top three apartment and villa transfers were two apartments in Palm Jumeirah for AED58 million and AED 55 million respectively, and an apartment for AED 51 million in Al Ras.
Economy
Eurozone GDP grows 0.1 percent in first quarter as high inflation looms
Germany, the EU's biggest economy, saw growth stagnate at zero percent over the previous quarter. Year-on-year, Germany was the only...
- For the European Union overall, GDP expanded 0.3 percent over the previous quarter, according to the figures from Eurostat, the EU's statistics office.
- Inflation remains the bugbear in the eurozone, feeding through to higher wages that, while a short-term fillip, could give the ECB more reason to tighten monetary policy further.
US slaps fresh sanctions on Russia, Iran for ‘hostage-taking’
The US is "showing that one cannot engage in this sort of awful behavior of using human beings as pawns,...
- The sanctions came a month after Russia detained Wall Street Journal reporter Evan Gershkovich, charging him with spying
- At least three US citizens are being held in Iranian prisons, including businessman Siamak Namazi, held in Tehran's Evin prison since 2015
Mercedes Q1 profit rises 12%
The German automaker said its revenues were up 8%.
- The German automaker said its revenues were up 8% compared to the same period last year, reaching 37.5 billion euros, despite supply chain disruption
- Sales in its top-end car range which includes the Mercedes-Maybach shot up by 18 percent to 91,772 units, pulling up the carmaker's bottom line
‘Shots fired’ at vessel in waters south of Yemen, says British navy body
Previous attacks have been blamed on Somali pirates but they have fallen in recent years as a result of international...
- Shots were fired at the unidentified vessel in the Gulf of Aden, said UKMTO, which provides security alerts for the shipping trade
- UKMTO report comes a day after Iran seized a US-bound oil tanker in the Gulf of Oman, another waterway bordering the Arabian Peninsula
Sony profit beats forecast
The company reported record full-year sales of 11.5trn yen.
- The revenue figure was the largest ever for the Japanese conglomerate, beating the last financial year's record of 9.9 trillion yen ($73 billion)
- The company's net profit for the year to March was 937.1 billion yen, up 6.2 percent year on year and beating a forecast of 870 billion
Intel, Samsung post fall in sales as chips demand plummets
The crucial semiconductor industry, that powers everything from personal computers, smartphones to fighter jets, suffered a dismal first quarter as...
- Intel's revenue fell 36 percent to $11.7 billion in the three-month period and the semiconductor giant posted a loss of $2.8 billion, its biggest ever for a quarter
- Rising prices, a global chip glut and poor demand for hardware also punished Samsung Electronics, which on Thursday reported its worst quarterly profits in 14 years
Amazon logs profit in Q1
The company's shares spiked over 10 percent on Thursday.
- Amazon shares spiked more than 10% shortly after release of the earnings figures, only to sink slightly below the day's closing price
- For the first time in several quarters, Amazon may finally have a bit of wind at its back, said Insider Intelligence principal analyst Andrew Lipsman.
Arts & Culture
Cleopatra had white skin, Hellenistic features, Egypt to Netflix
Cairo, Egypt - Egypt's antiquities ministry insisted on Thursday that Cleopatra had "white skin and Hellenistic characteristics" in an ongoing row...
- "Queen Cleopatra", produced by Jada Pinkett Smith and starring Adele James, is due for release on the streaming platform on May 10
- Legend hails the queen born in around 69 BC as a great beauty, but the colour of her skin is largely open to interpretation
Business
American Q1 profit at $10m
The airline's revenues were $12.2 billion, up 37 percent.
- The strong first-quarter results will enable American to make profit-sharing payments to employees for the first time in three years.
- With higher debt levels than rivals, American said it is around 60 percent through its goal of reducing debt by $15 billion by the end of 2025.
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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
25 countries suspend postal services to United States over tariffs: UN
The Trump administration said late last month that it will abolish a tax exemption on small packages entering the United...
Economy
Company News
Latest News
Eight OPEC+ members extend oil supply cuts until year end
Supply cuts seek boosting oil prices amid uncertain demand and accelerating supply, with an eye on the imminent US presidential...
Economy
Israel escalates strikes in Lebanon, Gaza as Netanyahu visits Northern Border, and Hezbollah claims missile attack
Israel intensifies airstrikes across Lebanon and Gaza, escalating cross-border violence as Netanyahu urges troops to push Hezbollah back and prevent...
Geostrategy
B-52 bombers arrive in Middle East: US military
Washington, United States -- American B-52 bombers have arrived in the Middle East, the US military said Saturday, a day after...
Geostrategy
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Geostrategy
Lebanon accuses Israel of truce rejection after deadly Beirut strikes and growing Gaza crisis
A US-brokered plan reportedly under consideration would see Hezbollah pull back 30 kilometres (20 miles) from the border, north of...
- The strikes on Lebanon came a day after Israeli Prime Minister Benjamin Netanyahu met US officials to discuss a possible deal to end the war against Hezbollah
- In Gaza, where Israel has been engaged in a major offensive in the north for nearly a month, a Hamas official said the Palestinian group had rejected short-term truce
Geostrategy
Israel, US envoys discuss possible ceasefire amid rising casualties in Lebanon conflict
With US mediation, a ceasefire proposal emerges for both Gaza and Lebanon, balancing Israel's security demands and Lebanon’s need for...
- Netanyahu told Washington envoys Amos Hochstein and Brett McGurk that any Lebanon deal must guarantee Israel's longer term security
- More than a month into its war with Israel, Hezbollah says it is ready for a truce, but there are limits to what it can accept after suffering devastating attacks
Geostrategy
Saudi, US FM says could move ‘quite quickly’ on some deals with US
Since last year Saudi Arabia has been bargaining hard for a defense pact with the United States as well as...
- Crown Prince Mohammed bin Salman last month ruled out recognizing Israel without the establishment of a Palestinian state.
- Foreign Minister Prince Faisal bin Farhan reiterated that normalization was "off the table until we have a resolution to Palestinian statehood".