Trump, Intel announce deal giving US a 10% stake in chipmaker
Chipmaker Intel has agreed to give the US government a 10-percent stake in its business, the company and President Donald...
Business
Google to provide Gemini AI tools to US government
Google will provide its Gemini artificial intelligence tools to US federal agencies practically free, the government announced Thursday.
Science
Economy
German inflation eases to 7.4% in March as high energy prices slide
Berlin, Germany--Inflation in Germany eased to 7.4 percent in March, mainly thanks to government measures to bring down energy prices, final...
- In March food prices continued to rise by 22.3 percent, up from 21.8 percent in February and 20.2 percent in January
- In order to help bring energy prices down until 2024, including a cap on gas and electricity prices, Germany has committed $200 billion
Economy
Tunisia farmers stare at poor harvest as drought imperils food security
Even before the roasting summer months, the soil is dry and dusty in the small Mediterranean country, whose water resources...
- At a time when the global cereals market has been disrupted by Ukraine war, Tunisia's domestic grain production has also withered under a lack of rainfall that has killed off crops
- UTAP has called on the government to urgently announce a drought and state of water "emergency" and has demanded a "clear strategy" to boost Tunisia's water reserves
Geostrategy
Syria to reopen Tunisia embassy after more than 10 years
Tunisia's Saied had said last month he planned to restore diplomatic relations with Syria. Tunisia expelled Syria's ambassador in 2012...
- Syria's decision followed a similar move by Tunis on April 3, when Tunisian President instructed his foreign minister to appoint an ambassador to Damascus
- Since the quake, Syrian President Bashar al-Assad has received calls and aid from Arab leaders, momentum analysts say he could leverage to bolster regional support
Business
SoftBank to sell Alibaba stake
It has sold more than US$7bn of its shares since early 2023.
- The Japanese investment titan, an early investor in the Chinese internet giant founded by Jack Ma, started offloading its shares last year
- Alibaba like other leading Chinese tech firms has been badly impacted by a regulatory crackdown on the industry starting in 2020
Geostrategy
Qatar, Bahrain to restore ties as Middle East’s push for peace gains pace
In 2017, Bahrain joined Saudi Arabia, the United Arab Emirates and Egypt in imposing a diplomatic blockade on Qatar. The...
- Qatar's foreign ministry said that the neighbors "decided to restore diplomatic relations between the two countries" as per the UN's charter
- The two countries' relations have been more difficult to restore because of many thorny issues including their maritime border
Economy
World Bank members approve moves to boost lending by US$50bn over decade
Washington, United States--World Bank member countries have endorsed measures allowing a $50 billion lending boost over the next decade, its outgoing...
- US Treasury Secretary Janet Yellen exhorted World Bank to continue taking on added reform measures this year
- Outgoing World Bank president David Malpass said discussions with shareholders this week have "yielded signs of progress"
Historic talks: Syrian and Saudi ministers discuss steps to resolve ongoing crisis in Syria
It's raining peace in the Arab world. Saudi Arabia has taken lead in normalizing ties with countries such as Turkey,...
- Saudi Arabia is also negotiating with Yemen's Iran-backed Houthi rebels, eight years after launching a military intervention aimed at dislodging them from power.
- Riyadh broke off relations in 2016 after Iranian protesters attacked Saudi diplomatic missions following the execution of Saudi Shiite cleric Nimr al-Nimr.
Economy
Lebanon judge to lift travel ban on central bank chief: judicial officials
Under investigation both at home and abroad on suspicion of fraud, money laundering and illicit enrichment, Riad Salameh has been...
- Speaking to the media, the first judicial official said that Judge Ghada Aoun will lift the travel ban on Riad Salameh tomorrow
- Lebanon is also investigating Salameh on suspicion of financial misconduct including possible embezzlement, money laundering and tax evasion
Business
LVMH posts Q1 revenue of $23.1bn
Jump in sales across all regions, including China.
- LVMH became Europe's most valuable company in January when its market capitalization soared to US$440 billion.
- The United States had a steady performance while "Asia experienced a significant rebound following the lifting of health restrictions".
Economy
Interest rate hikes adversely affect developing countries, says UN
The global economic slowdown and swelling interest rates are pummeling debt-ridden developing countries, the UN warned, urging bold global action...
- Rate increases in the US and other wealthy countries may cost developing countries over US$800 billion in lost income by 2025.
- UNCTAD said it now expected global GDP growth of 2.1 percent in 2023, down from 2.2 percent it forecast in September last year.
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
Trump, Intel announce deal giving US a 10% stake in chipmaker
Chipmaker Intel has agreed to give the US government a 10-percent stake in its business, the company and President Donald...
Business
Company News
Latest News
Hezbollah drone strike kills four, wounds dozens at Israeli base, US sending more air-defences
Hezbollah announced late Sunday that it launched a "squadron of attack drones" at the Binyamina camp, 30 kilometers south of...
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...
Geostrategy
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...
Economy
Most Read
Geostrategy
Blinken says US wants Lebanon solution, not ‘broader conflict’
"So Israel has a clear and very legitimate interest in doing that. The people of Lebanon want the same thing....
- Blinken again said that Israel, which has been carrying out deadly strikes on Lebanon, "has a right to defend itself" against Hezbollah
- "We continue to engage intensely to prevent broader conflict in the region," Blinken told reporters after an East Asia Summit in Laos
Boeing to cut 10% of workforce
The company has projected a large third-quarter loss.
- The aviation giant must "reset our workforce levels to align with our financial reality," Chief Executive Kelly Ortberg said
- The company announced a series of belt-tightening measures and production delays in the wake of the nearly monthlong strike of 33,000 workers
Geostrategy
Japanese group wins peace Nobel, says Gaza like Japan 80 years ago
Nihon Hidankyo, a grassroots movement of atomic bomb survivors from Hiroshima and Nagasaki, also known as Hibakusha, received the honor...
- The situation for children in Gaza is similar to the situation in Japan at the end of World War II, the co-head of Nihon Hidankyo said.
- "In Gaza, children in blood are being held. It's like in Japan 80 years ago," Toshiyuki Mimaki told a news conference in Tokyo.