Boeing in talks to sell up to 500 planes to China: Bloomberg
New York, United States -- US aviation giant Boeing is in talks to sell up to 500 aircraft to Chinese...
Business
Google packs new Pixel phones with Artificial Intelligence
New York, United States -- Google on Wednesday unveiled new Pixel 10 smartphones, showcasing artificial intelligence (AI) capabilities woven into...
Business
Geostrategy
World’s largest online cybercrime site shut in police crackdown
Genesis Market sold the identities of over two million people for as little as $0.70, allowing hackers to target bank...
- The website was based in Russia, according to the US Treasury, which said it had imposed sanctions against Genesis Market.
- Action against criminals took place in countries including Australia, Britain, Canada, the United States and more than 10 countries in Europe.
Geostrategy
Iran welcomes US decision to spur peace process in Yemen
TEHRAN, IRAN - Iran on Wednesday welcomed a US call to help end the long-running conflict in Yemen by backing a peace...
- Sunday marked the first anniversary of the UN-brokered truce between the Yemeni government and the Iran-backed rebels.
- UN Yemen envoy Hans Grundberg described it as a "moment of hope" as the truce was largely holding despite lapsing in October.
Economy
WTO sees 2023 global trade growth at 1.7 percent
The World Trade Organization said 2023 global trade growth would be slightly better than feared, but would remain "subpar", weighed...
- The forecast was slightly better than feared last October, when the WTO projected 2023 trade growth would be as low as one percent.
- The organization's economists also estimated that real global GDP growth at market exchange rates would be 2.4 percent this year.
Business
UBS shareholders grill bosses over Credit Suisse mega-merger
The annual general meeting of UBS is being held in the St. Jakobshalle indoor arena, famously the stomping ground of...
- UBS and Credit Suisse shareholders had no say in mega-merger, which was engineered behind closed doors by Swiss government, the central bank and the financial regulators
- Credit Suisse shareholders have seen the value of their investment plunge from 12.78 Swiss francs per share in February 2021 to 0.76 francs they will receive in the banks merger
Economy
Global equities waver on US recession fears, New Zealand rate hike
Asian indices drifted after losses on Wall Street, as data showing a softening in the US jobs market pointed to...
- The central bank of New Zealand on Wednesday became the latest to hike interest rates sharply to tackle soaring inflation.
- Gold climbed as high as $2,028.44, a level last seen in early 2022 and not far from a record $2,075.47 set in August 2020.
Business
Lufthansa to sell catering unit
LSG Group is to be sold to private equity group Aurelius.
- The airline giant had already sold LSG's European operations activities to Swiss-based Gategroup in 2019.
- The Lufthansa group was brought to the brink of bankruptcy when the COVID-19 pandemic saw global air travel grind to a halt.
Arts & Culture
Jordan’s Mansaf: Rooted in war, symbol of peace
Mansaf, the kingdom's national dish of lamb cooked in dried yogurt, served with rice and nuts, was inscribed on UNESCO's...
- Long before it became a symbol of peace -- traditionally shared to mark the end of tribal feuds -- mansaf was born on the eve of battle, according to one version of history.
- Large platters are traditionally shared between around a dozen people, using only the right hand, while the left is placed behind the back.
Fans wait to see if Apple joins quest for the metaverse
All eyes are on whether Apple will commit to releasing long-rumored VR or augmented reality (AR) "goggles" at its annual...
- Apple's approach to the metaverse would likely be different from that of Meta, which has proclaimed it the future of the internet but slowed its substantial investments
- Wedbush believes Apple will unveil "Glasses" AR/VR headsets at the developers conference in June, at a price in the vicinity of $2,500, though others say $3,000
Geostrategy
Iran names envoy to UAE after nearly eight-year absence
Iran and the United Arab Emirates have long had close economic ties which continued even during the diplomatic chill. A...
- The move comes after Iran welcomed an Emirati ambassador last September ending a six-year absence
- The UAE had cut the level of its diplomatic representation after neighbouring Saudi Arabia severed ties in 2016
Business
Iraq and TotalEnergies agree on delayed US$10bn deal
Paris, France--French energy giant TotalEnergies announced Wednesday an agreement with Iraq on a $10 billion project that had been delayed due...
- While TotalEnergies will own 45 percent stake, Iraq's Basrah Oil Company will get a 30-percent stake in the project and QatarEnergy will get 25 percent
- The French company said that a one-gigawatt solar power plant will be built to supply electricity to the Basra regional grid, with Saudi firm ACWA Power joining the project
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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
Boeing in talks to sell up to 500 planes to China: Bloomberg
New York, United States -- US aviation giant Boeing is in talks to sell up to 500 aircraft to Chinese...
Business
Company News
Latest News
Updates: Iran’s supreme leader says anti-Israel resistance will not back down
Ayatollah's rare address in Arabic follows Iran's second-ever direct attack on Israel; rallies held in Jordan and Bahrain in support...
Geostrategy
Israel’s hawkish Yoav Gallant driving war in Lebanon
Jerusalem, Undefined - Defence Minister Yoav Gallant, a former general who has shaped Israel's war against Hamas in Gaza, is a...
Geostrategy
FIFA defers decision on Palestinian request to suspend Israel
FIFA president Gianni Infantino said in a statement: "The FIFA Council has implemented due diligence on this very sensitive matter...
Most Read
Geostrategy
Updates: President Biden says ‘discussing’ possible Israeli strikes on Iran oil facilities
Oil prices shoot up as Biden suggests that Israel might target Iranian oil facilities, while GCC Arab states, including Qatar,...
- "First of all, we don't 'allow' Israel, we advise Israel. And there is nothing going to happen today," says Biden.
- GCC Arab states, including Qatar, Saudi Arabia, and UAE reassure Iran of neutrality in the conflict between Tehran and Israel
Business
Samsung says planning job cuts
The layoffs could affect about 10 percent of the workforce.
- The world's largest memory chipmaker is modifying staffing levels in Southeast Asia, Australia, and New Zealand, a company spokesman told AFP
- The "routine workforce adjustments" are carried out "to improve operational efficiency," said Samsung Electronics in a statement
Geostrategy
Regional Updates: Iran “not looking for war” but will retaliate fiercely to any Israeli attack
Iranian leadership vows strong retaliation if Israel attacks Iran as Hezbollah kills eight Israeli soldiers and destroys 3 tanks while...
- Hezbollah said it repelled an Israeli infiltration into southern Lebanon on Wednesday, as Israel reported eight soldiers were killed and 3 tanks destroyed
- US President Joe Biden rules out supporting an Israeli strike on Iran's nuclear sites as Israel aims to garber support for an attack against Iran