Bitcoin hits record high above $124,000 before retreating
Tokyo, Japan - Bitcoin hit a record high on Thursday during early Asian trading, surpassing $124,000, driven by favourable US...
Economy
Musk clashes with Altman after accusing App Store of favoring OpenAI
San Francisco, United States -- Elon Musk has accused Apple of unfairly favoring ChatGPT on its App Store and threatened...
Business
Business
UAE spends billions on home-grown arms at defense fair
The UAE has reduced arms imports by more than 40 percent over the past decade, taking it from the third...
- By the end of the five-day show on Friday, the Gulf state had signed more than 50 deals worth $6.3 billion.
- They include at least $5.9 billion signed with local firms at the International Defence Exhibition and the Naval Defence and Maritime Security Exhibition.
Business
Eni posts record profit in 2022
Sales jumped 73 percent to 132.2 billion euros.
- Sales jumped 73 percent to 132.2 billion euros, beating analyst expectations
- But oil and gas production fell by four percent to 1.61 million barrels per day of oil equivalent
Business
IAG flies back into annual profit
Net profit came in at $457m, compared to 2.9bn euros loss in 2021.
- IAG announced Thursday the acquisition of Air Europa for 500 million euros from the Spanish company Globalia.
- IAG said it recruited 7,400 colleagues last year after axing about 10,000 on Covid fallout.
Netanyahu hails Oman’s opening of airspace to Israeli planes
On Twitter, the Omani Civil Aviation Authority affirmed that "the Sultanate's airspace is open for all carriers that meet the...
- Israeli Foreign Minister Eli Cohen in a statement hailed the historic decision that will shorten flight time to Asia
- The US also welcomed Oman's move, saying it completed the "process" begun last year with Saudi Arabia's decision
EU eases Syria sanctions to speed up quake aid
The EU measure will last for six months and was taken "in view of the gravity of the humanitarian crisis...
- Aid organizations will no longer need to seek permission from EU member state governments before sending supplies to sanctioned entities in Syria
- EU pointed out that it and its member states have contributed a total of $26 billion to Syria and to refugee-hosting neighbors such as Turkey since 2011
Facebook, Instagram roll out paid subscription in Australia, New Zealand
Facing a drop in advertising revenues, parent company Meta is piloting a subscription in Australia and New Zealand before it...
- The subscription service of Meta will cost US$11.99 on the web and US$14.99 on the iOS and Android mobile platforms
- From Friday, subscribers Down Under who provide government-issued IDs can start applying for a verified badge
Canadian privacy regulators launch TikTok probe
The Chinese-owned platform is under growing Western scrutiny, and Canada's move came just hours after the European Commission banned the...
- Canada's Office of the Privacy Commissioner said it had launched a joint probe into TikTok alongside provincial privacy regulators from Quebec, British Columbia and Alberta
- The massively popular video-sharing platform has come under increasing scrutiny from the West over concerns that Beijing could access user data from around the world
Boeing halts deliveries of 787 again on fuselage issue
Boeing's difficulties with the 787 have come as the company tried to reset its relationship with the FAA following the...
- Boeing said it "discovered an analysis error" by its supplier related to the 787 forward pressure bulkhead during a review
- Air India unveiled a record series of orders earlier this month from Airbus and Boeing, including for 20 Dreamliner planes, with options for 20 more
Geostrategy
Tunisian president seeks to reassure ‘legal’ migrants
On Wednesday, Tunisian rights groups accused the president of hate speech after he said a day earlier that "hordes" of...
- Saied called on state officials to "look after our brothers from sub-Saharan Africa who are in a legal situation", according to a video published on the official presidency website
- A statement from his office, decrying "a criminal plot... to change Tunisia's demographic make-up" without citing any evidence, has sparked an outcry online
Geostrategy
Russia to deploy Sarmat intercontinental ballistic missile in 2023: Putin
Moscow, Russia - Russian President Vladimir Putin said Thursday the new Sarmat intercontinental ballistic missile will be deployed this year following...
- The Sarmat -- dubbed Satan 2 by Western analysts -- is capable of carrying multiple nuclear warheads.
- Putin has said the heavy Sarmat missile can hit any target on Earth and will make the Kremlin's enemies "think twice".
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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
Bitcoin hits record high above $124,000 before retreating
Tokyo, Japan - Bitcoin hit a record high on Thursday during early Asian trading, surpassing $124,000, driven by favourable US...
Economy
Company News
Latest News
Don’t give smartphones to kids under 11, UK mobile phone firm says
London, United Kingdom - One of Britain's biggest mobile network operators said on Sunday it will warn parents they should not...
Telegram chief Pavel Durov arrested at French airport: officials
Paris, France - French police arrested Telegram chief executive Pavel Durov on Saturday at an airport near Paris for alleged offences...
Business
Israeli defence minister declares 48-hour state of emergency
"The declaration on the state of emergency enables the IDF (Israeli military) to issue instructions to the citizens of Israel,...
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US Fed chair says ‘the time has come’ to start cutting rates
The Fed's benchmark lending rate currently sits at a 23-year high of between 5.25 and 5.50 percent, cooling demand in...
- "The direction of travel is clear, and the timing and pace of rate cuts will depend on incoming data, the evolving outlook, and the balance of risks," Fed chair Powell said
- After holding its key lending rate at a two-decade high for more than a year, Powell's remarks suggest the US central bank is now all but certain to start cutting rates
Business
Alibaba to upgrade Hong Kong listing amid profit drop
Hong Kong, China -- Chinese e-commerce giant Alibaba said Friday it would upgrade its Hong Kong-listed shares to primary status, opening...
- The decision by shareholders during its annual general meeting Thursday will provide a much-needed boost to the firm, which has underperformed the market in recent years.
- Alibaba has been primarily traded in New York since 2014 and remained dual-listed after its notable return to Hong Kong through a second listing in 2019.
Geostrategy
In rare move, UAE accepts Taliban government ambassador
It became just the second country after China to do so. The UAE said it was committed to "building bridges"...
- The UAE's growing ties with the Taliban government include the management of Afghan airports by an Emirati firm, GAAC, following the withdrawal of US forces and Taliban's return.
- "The world recognizes the challenges faced by Afghanistan over the past few years," an Emirati official said in a statement.