Iran to meet Britain, France and Germany on its nuclear programme as snapback sanctions loom
The move would reimpose sweeping UN sanctions lifted under the 2015 agreement unless Iran agrees to curb its uranium enrichment...
Geostrategy
Less tax, more luxury: millionaires flock to Dubai for its zero income tax policy
Rich people are flocking to Dubai in record numbers, drawn to the desert city by its zero income tax policy...
Economy
Economy
Qatar right to buy Harrods, economy doing well, says prime minister
Qatar bought a 17-percent stake in German auto group Volkswagen in 2009 and paid a reported $1.7 billion for Harrods...
- Sheikh was questioned about the Qatar Investment Authority's foreign purchases in the rare televised encounter
- Despite global economic troubles, Qatar last year had a budget surplus of nearly $25 billion as natural gas prices surged
Business
Infosys Q1 profit drops
Revenue grew 8.8% YoY, but fell 3.2% quarter-on-quarter.
- Infosys benefitted from an IT boom that made India the back office to the world for subcontracted work.
- The company, like local rival TCS, also gained from the increased use of digital services during the Covid pandemic.
Geostrategy
EU privacy watchdog sets up ChatGPT task force
The European Union's central data regulator said it was forming a task force to help countries deal with AI chatbot...
- ChatGPT can generate essays, poems and conversations from the briefest of prompts and is capable of passing exams.
- Chatbot can only function if it is trained on vast datasets, raising concerns about where OpenAI gets its data.
Geostrategy
Libyan security forces arrest second US citizen for ‘evangelism’
Tripoli, Libya -- Libyan security forces said Thursday they had arrested a second US citizen for alleged Christian proselytizing in...
- On Thursday, the Internal Security Agency said it had arrested the center's assistant director in Tripoli, identifying him by the initials "SBO".
- The arrest came a day after another US citizen, who was also teaching at the same private language school in the capital Tripoli.
Economy
IMF chief calls upon global community to avert a ‘second Cold War’
Countries must do more to avert the costly consequences of growing global trade fragmentation, and help avert a "second Cold...
- Multilateral institutions like the World Bank and IMF have an important role to play in preventing the world from splintering into different blocs.
- An IMF report said that growing trade fragmentation due to Brexit, US-China trade war and Russian invasion of Ukraine, could make the global economy.
Geostrategy
Russia to withdraw from grain deal if all conditions are not fulfilled
Russia delivered a new warning to the West over a grain deal with Ukraine, saying a number of conditions must...
- Russia, whose economy has been hit by a raft of Western sanctions, has repeatedly threatened to walk away from the agreement if obstacles to its own exports remain.
- There are no sanctions on Russian exports of food and fertilizers to global markets but the problems are related to sanctions on shipping, insurance companies and banks.
Geostrategy
Arab meet: Middle East peace, ending Syria isolation key issues
Friday's nine-nation talks in Jeddah come after Syria's foreign minister arrived on a previously unannounced visit -- the first since...
- Ministers and top officials from the six GCC nations -- Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the UAE-- along with Egypt, Iraq and Jordan will meet in Jeddah.
- On the table is Syria's suspension from the Arab League, in place since President Bashar al-Assad's government launched a bloody crackdown on pro-democracy protests in 2011.
Geostrategy
Tunisia recovers 14 more migrant bodies after shipwreck
Tunisia has recovered 14 bodies of migrants from sub-Saharan Africa in the Mediterranean, bringing to 24 the number of dead...
- Dozens of migrants, mostly from sub-Saharan Africa, have drowned off Tunisia in recent weeks in desperate attempts to reach Europe.
- Tunisia's coastline is less than 150 kilometers from the Italian island of Lampedusa and is a favored spot for migrants attempting to enter Europe.
3D-printed rocket maker to focus on bigger vehicle for commercial launches
Terran 1 was made using the world's largest 3D metal printers and was powered by engines using liquid oxygen and...
- Relativity Space said it was shifting its focus from Terran 1 to a larger, reusable 3D-printed rocket known as Terran R, which is scheduled to launch in 2026
- Relativity Space has signed commercial launch contracts worth $1.65 billion for the Terran R, according to Ellis, who co-founded the company in 2015
Fossil fuel pledges divide G7 in ‘critical decade’ for climate
The world's leading developed economies are all targeting net-zero emissions by 2050 or sooner after signing the Paris Agreement to...
- Britain has proposed new targets on the phase-out of domestic coal power in a draft statement ahead of the minister-level talks, which kick off in Sapporo
- Governments around the world will also be looking for action on resilience funding for the developing nations most affected by climate change
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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
Iran to meet Britain, France and Germany on its nuclear programme as snapback sanctions loom
The move would reimpose sweeping UN sanctions lifted under the 2015 agreement unless Iran agrees to curb its uranium enrichment...
Geostrategy
Company News
Latest News
Can biodiversity credits unlock billions for nature?
Paris, France - For supporters, biodiversity credits could unlock billions in much-needed funding for nature, but critics fear a repeat of...
Trio wins economics Nobel for insights into income inequality
By examining the various political and economic systems introduced by European colonizers, the three have demonstrated a relationship between societal...
Geostrategy
Tech helps Singapore economy top forecasts in third quarter
Singapore's economy grew more than expected in the third quarter as a rush for everything related to artificial intelligence drove...
Economy
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Geostrategy
UN raises alarm over catastrophe amid ongoing Israeli strikes on Gaza, Lebanon
With Israel ramping up strikes on Lebanon and Gaza, the UN warns of a potentially catastrophic regional conflict, highlighting the...
- Israel has faced a fierce diplomatic backlash over the injuries suffered by five Blue Helmets serving in south Lebanon
- Lebanon's health ministry said Saturday that Israeli air strikes on three sites had killed at least 15 people, raising an earlier toll
Economy
China unveils major bond plan to revive economy and property market
The plan is part of a series of actions undertaken by Beijing to draw a line under a years-long property...
- Beijing's planned special bonds are aimed at boosting the capital available to banks -- part of a push to get them lending in the hopes of firing up sluggish consumer spending.
- China is also preparing to allow local governments to borrow more to fund the acquisition of unused land for development.
Business
Boeing to cut 10% of workforce
The aviation giant has projected a large third-quarter loss.
- The company announced a series of belt-tightening measures and production delays in the wake of the nearly month-long strike of 33,000 workers.
- Boeing said the strike contributed to $3 billion in pre-tax charges to its commercial aviation results in the third quarter.