Games industry in search of new winning combo at Gamescom 2025
Paris, France -- The global games industry gathers for the vast Gamescom trade fair in Cologne this week, with hopes...
Business
Iranians struggle with GPS disruption after Israel war
Tehran, Iran - The streets of Tehran have become a confusing maze for driver Farshad Fooladi amid widespread GPS disruption,...
Geostrategy
Geostrategy
Israel’s ruling coalition amends key judicial reform proposal
Jerusalem--Israel's ruling coalition presented on Monday an amended version of a key element in its contentious judicial overhaul, in hopes...
- Israel has been hit by weeks of mass demonstrations against the proposed reforms, which are already moving through parliament and would give politicians more power
- The White House said that Joe Biden in a call with Netanyahu voiced support for a "compromise" and stressed the importance of "genuine checks and balances"
Geostrategy
Saudi-Iran diplomatic pact leads to prisoner swap deal in Yemen
The UN has confirmed that Yemen's Houthi rebels and its internationally recognized government have reached an agreement to exchange more...
- According to UN special envoy to Yemen Hans Grundberg, the parties "agreed on implementation plans to release 887 conflict-related detainees from all sides"
- It is almost a year since the Houthis said they had agreed to a prisoner swap that would see 1,400 rebels freed in exchange for 823 pro-government fighters
Economy
US government seeks to avoid ‘bailout’ label amid banking turmoil
Days after SVB's collapse this month, the Treasury Department, Federal Reserve and Federal Deposit Insurance Corporation (FDIC) announced that its...
- In the 2008 financial crisis, authorities spared shareholders and bondholders, said David Smith, professor of commerce at the University of Virginia
- But "there's no bailout" this time in the sense that officials are protecting depositors rather than shareholders and bondholders, Smith said.
Business
Amazon plans more job cuts
The online retail giant axed 18,000 jobs in January.
- The layoffs account for a smaller percentage of Amazon's total workforce, which ran up to 1.5 million people in December 2022, than the cuts seen at some other tech giants.
- The cuts would mainly impact Amazon's cloud computing, human resources, advertising and Twitch videogame streaming businesses, Amazon CEO Andy Jassy said.
Business
Gas price in Europe slips below US$43 for first time since 2021
LONDON, UK- Europe's natural gas price slid Monday below US$43 for the first time in more than a year and a...
- Monday's low is almost nine times less than the record high struck after key gas producer Russia invaded Ukraine more than one year ago.
- Energy bills remain high for many households and businesses, however, with wholesale costs taking time to filter down to the end consumer.
Business
Rosneft 2022 profit at $10.5bn
Firm said non-monetary factors played a role in earnings.
- Western powers have imposed sanctions against Russia due to the Ukraine war.
- Rosneft said that the profit level forms a solid basis for paying dividends.
Geostrategy
Israel minister’s ‘there are no Palestinians’ remarks condemned
"There are no Palestinians, because there are no Palestinian people," far-right Israeli Finance Minister Bezalel Smotrich said at an event...
- "There are Arabs around who don't like it, so what do they do? They invent a fictitious people and claim fictitious rights to the land of Israel, only to fight Zionist movement.
- Palestinian PM Mohammad Shtayyeh said "inflammatory statements are consistent with the first Zionist sayings of 'a land without a people for a people without a land'".
Geostrategy
Iraq to hold first provincial elections in a decade on Nov 6
The provincial councils, created by the 2005 constitution following the fall of Saddam Hussein's regime, carry relatively significant power in...
- Iraqi parliament confirmed Monday date of the elections through a statement as its members agreed on it overnight.
- The elections are scheduled to be held in 15 provinces, while three provinces in Kurdistan region will be left out.
Geostrategy
$7.5bn pledged for Turkey, Syria quake aid at EU conference
Aid groups urged donors to step up their commitments after the UN complained of the poor level of response to...
- Turkey's President Recep Erdogan warned that "regardless of its economic standing, it is impossible for any country to fight a disaster of this scale on its own."
- The UN had said the appeal for Turkey has so far only been 16 percent fulfilled, while the figure for Syria stands at 72 percent.
Science
‘Rich nations must achieve net zero carbon by 2040’
UN Secretary General Antonio Guterres called on wealthy countries to move up their goals of achieving carbon neutrality as close...
- Most rich countries have set their goal at 2050 but some are more ambitious, like Finland (2035), or Germany and Sweden (2045).
- Leaders in emerging economies must commit to reaching net zero as close as possible to 2050, he said without naming any specific nation.
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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
Games industry in search of new winning combo at Gamescom 2025
Paris, France -- The global games industry gathers for the vast Gamescom trade fair in Cologne this week, with hopes...
Business
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Boeing lifts wage hike to 30%
The 30% general wage hike improves upon the 25% in the earlier offer.
Business
Hamas weakened, not crushed a year into war with Israel
The Palestinian group has not been crushed outright, and a year on from its unprecedented attack on Israel, an end...
Geostrategy
World leaders gather at UN as Mideast tensions explode
Escalating clashes between Israel and Hezbollah threatened to overshadow US President Joe Biden's final appearance at the UN's signature annual...
Geostrategy
Most Read
Iran’s president calls Israel warmonger as he seeks talks with West
Iran's President Masoud Pezeshkian has accused Israel of seeking regional war, as he attempted to cast Tehran as restrained and...
- President Masoud Pezeshkian speaks at a media roundtable in New York on the sidelines of United Nations General Assembly meetings
- "We know more than anyone else that if a larger war were to erupt in the Middle East, it would not benefit anyone."
Lebanon Under Attack: Israel murders 35 kids, death toll rises to 492 including 58 women
Lebanese Health Minister Firass Abiad said the death toll in Israeli strikes Monday rose to 492, including 35 children, the...
- Israeli attacks on Monday wounded 1,200 people who were treated in 27 hospitals
- Iran's foreign ministry warns Israel of "dangerous consequences" following deadly strikes in Lebanon
Geostrategy
UN alarmed as Israeli strikes kill more than 180 people in Lebanon
Lebanon's health ministry said more than 700 were injured on Monday in the worst toll by far in nearly a...
- Iran's foreign ministry warned Israel on Monday of "dangerous consequences" following deadly strikes in Lebanon
- "We are extremely concerned, deeply worried about the escalation in Lebanon," says top UN official