Trump says semiconductor tariffs coming soon
"I'll be setting tariffs next week and the week after, on steel and, I would say, chips. Chips and semiconductors,...
Economy
Stocks diverge as bitcoin hits record high
Bitcoin hit a new peak at $124,514.59 in Asian trading, before cooling to around $121,500. The world's biggest cryptocurrency is...
Business
Geostrategy
Renewables help offset rise in coal emissions in 2022, IEA says
"The impacts of the energy crisis didn't result in the major increase in global emissions that was initially feared –-...
- "Without clean energy, the growth in CO2 emissions would have been nearly three times as high," he added.
- The IEA noted that CO2 emissions grew the fastest from oil, at 2.5 percent, but still remain below pre-pandemic levels.
Economy
More interest rate hikes may be needed, says ECB’s Lagarde
FRANKFURT, GERMANY - More interest rate increases may be needed beyond the one coming later this month, European Central Bank president...
- The ECB has lifted rates at an unprecedented pace in recent months to cool inflation.
- ECB president said the pace of future hikes was "impossible" to predict and would be decided by the economic data available at the time.
Business
Apple to spend $1bn on chip hub
The investment will be spread over the next six years.
- This comes on top of an earlier one-billion-euro commitment announced in 2021, when Apple made Munich the European headquarters of its "Silicon Design Centre."
- The move is part of Apple's strategy to develop its own chips for iPhones, iPads, MacBooks and other products, in order to reduce reliance on outside suppliers
Economy
Poor nations to call for help at Qatar summit
The Fifth United Nations Conference on the Least Developed Countries (LDC5) was twice postponed because of coronavirus. A plan of...
- Fallout from the Covid-19 pandemic, the Ukraine war's impact on food and fuel supplies and the costly battle against climate change have hit poor countries hard
- Leaders from the 33 African nations, 12 from the Asia-Pacific and Haiti in the Caribbean will meet five decades after the UN created the Least Developed Countries category
Musk eyes torrid growth at Tesla, but offers no big new reveals
After years of losses, Tesla has hit its stride in terms of financial performance, scoring an impressive string of earnings...
- Reviewing the company's quickly expanding EV production, Musk and a team of executives promised more outsized growth through streamlined manufacturing processes
- But shares fell throughout the event as Musk and his team avoided specifics on what the next generation of vehicles would look like, or when they might be ready
Lebanese supermarkets mark prices in dollars as local currency tanks
In February, Economy Minister Amin Salaam announced that supermarkets would be able to start pricing items in dollars, while customers...
- The local currency, now officially pegged at 15,000 to the greenback, was trading Wednesday at almost 90,000 to the dollar
- Since the start of the crisis, stores had begun to adjust their prices in pounds to keep up with the fluctuating exchange rate
Geostrategy
Israel police clash with protestors marching against judicial reform
Demonstrators in Tel Aviv blocked some streets, and police employed stun grenades, water cannon and officers on horseback in a...
- The rally in Tel Aviv came as lawmakers in Jerusalem passed in preliminary reading a bill limiting the chances of a prime minister being impeached
- The judicial reform, announced in January, includes measures that critics argue are intended to hand politicians more power at the expense of the judiciary
Geostrategy
Tunisian star Ons Jabeur calls for ‘dignity’ amid row over migrants
A week after President Kais Saied ordered "urgent measures" against irregular sub-Saharan migrants, Tunisian tennis star Ons Jabeur has spoken...
- Tunisian president Kais Saied last week accused sub-Saharan African migrants of bringing a wave of "violence and crime" to the North African country
- According to figures from the Tunisian Forum for Economic and Social Rights (FTDES), around 21,000 irregular migrants from other parts of Africa live in Tunisia
Geostrategy
European Parliament bars TikTok on official devices for staff
Brussels, Belgium - The European Parliament has told staff to purge TikTok from devices used for work because of data protection...
- TikTok said the bans were "misguided and based on fundamental misconceptions" and called for "due process and equal treatment".
- Last week, the company insisted it protects the data of its 125 million monthly users in the European Union.
Business
EU strikes deal to create world’s first ‘green’ bond standard for investors
Investors' appetite for "green debt", used to finance renewable energy projects, low-carbon transport or well-insulated housing, is growing exponentially. But...
- The parliament said this green bond standard will "enable investors to orient their investments more confidently towards more sustainable technologies and businesses".
- The European bond market's annual trades are estimated to be worth 100 trillion euros ($107 trillion).
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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
Trump says semiconductor tariffs coming soon
"I'll be setting tariffs next week and the week after, on steel and, I would say, chips. Chips and semiconductors,...
Economy
Company News
Latest News
Bosnia and Egypt clinch crucial wins in Paralympic sitting volleyball
Since first qualifying for the Paralympics in 2000, Bosnia have never finished outside of the podium and they made a...
COP29 finance draft: Arab nations ask developed nations to commit $441bn
Paris, France -- The UN has published a draft on climate financing due to be presented at the COP29 in November,...
Geostrategy
West Bank city ‘cut off from the world’ as Israeli assault drags on
Jenin governor Kamal Abu al-Rub told AFP that even he does not know exactly what is happening inside the camp,...
Geostrategy
Most Read
UN draft on climate finance highlights deep divisions ahead of COP29
Paris, France - The UN has published a draft on climate financing due to be presented at the COP29 in November,...
- The document is the basis for negotiating an accord that is due to be reached at COP29 in Baku under Azerbaijan's presidency
- Arab countries say developed countries should commit at least $441 billion a year in grants between 2025-2029 to mobilise loans and private financing
Geostrategy
Yemen’s Houthis blew up stranded oil tanker: video
Rebel chief Abdul Malik al-Houthi on Thursday said his forces had "stormed" the tanker earlier this week. He added in...
- The group's leader said the operation took place earlier this week. Since then, the rebels have agreed to allow rescue teams to access the ship
- A video shared on the rebels' media outlets showed masked men planting explosives on the vessel and then detonating them, causing several fires on board
Business
Apple in talks to invest in OpenAI, creator of ChatGPT: report
Washington, United States - iPhone juggernaut Apple is in talks to invest in OpenAI, the creator of ChatGPT and the biggest...
- The company founded by Steve Jobs is at the funding table as OpenAI raises more money to help meet the heavy costs of building new technology
- Reports said that OpenAI is in talks to reach a valuation of $100 billion in the funding round led by venture capital firm Thrive Capital, which will pump in one billion dollars