Accumulating bitcoin a risky digital rush by companies?
London, United Kingdom - US President Donald Trump's media group and Tesla, the electric carmaker owned by tech billionaire Elon...
Geostrategy
Business
Saab 2022 net profit at $211m
Revenue rose as countries boost military spending.
- Order intake for the Swedish company totaled US$6.1 billion in 2022, a 45 percent increase from the previous year.
- They soared by 144 percent in the fourth quarter alone to US$2.8 billion year on year.
Business
Russia to slash oil output by 5% over Western price cap
Russia is part of an alliance with OPEC that meets regularly to decide on oil output levels. As a result...
- The international benchmark, Brent North Sea crude, leapt 2.3 percent to $86.48 per barrel. New York contract WTI soared 2.5 percent to $80.01.
- "Russia will voluntarily reduce production by 500,000 barrels per day in March. This will help restore market relations," Deputy PM Alexander Novak said.
World Bank to provide Turkey $1.78 bn for recovery after quake
The 7.8-magnitude quake struck as people slept early Monday, with Turkish officials saying that over 70,000 people have been injured...
- Immediate assistance of $780 million will be offered via Contingent Emergency Response Components from two existing projects in Turkey
- An added $1 billion in operations is being prepared to support people affected amid recovery and reconstruction from the catastrophe
SpaceX test-fires engines of massive Starship rocket booster
Giant sheets of orange flames erupted from the base of the rocket and clouds of smoke billowed into the air...
- The test of the 33 Raptor engines on the first-stage booster of SpaceX's Starship took place at the private space company's base in Texas
- SpaceX founder Elon Musk said one engine was turned off just before the test began and one stopped itself
Meta completes virtual reality deal after US court win
A spokesperson for the Federal Trade Commission told AFP on Thursday that it would not appeal the February 1 decision....
- The courtroom loss was seen as a setback for FTC head Lina Kahn, who has been an advocate of imposing tougher scrutiny on Big Tech companies on antitrust matters
- The FTC filed a complaint in federal court in July, arguing that Meta was trying to buy advantage in the VR market with the purchase of Within, maker of fitness app "Supernatural."
Ronaldo scores four to pass 500 league goals
The 38-year-old Portuguese star now has 503 goals scored for five different teams stretched across five leagues. He hit three...
- Ronaldo now has five for Al Nassr who he joined after the World Cup following his bitter divorce from United
- Ronaldo opened his account for his new employers last Friday with a stoppage-time penalty in a 2-2 away draw against Al Fateh
Geostrategy
Hopes of finding survivors fade as Turkey-Syria quake toll nears 20,000
Bitter cold has hampered the four-day search of thousands of flattened buildings and threatened the lives of many quake victims...
- Chances of finding survivors have dimmed now that the 72-hour mark that experts consider the most likely period to save lives has passed.
- Despite the dimming hopes for rescues, thousands of local and foreign searchers have not given up in the hunt for more survivors.
Geostrategy
European Union leaders offer ‘full solidarity’, aid to Erdogan
Brussels, Belgium--The 27 EU leaders wrote to their Turkish counterpart President Recep Tayyip Erdogan on Thursday to express their "full...
- The leaders sent their message at the start of their Brussels summit. A video call with Erdogan was contemplated but it was not clear if this would be possible.
- Many countries around the world, including EU members, have sent emergency teams and aid, and Europe is keen to do more, fearing a new wave of refugees from the region.
Business
Credit Suisse 2022 loss $7.9bn
Since March 2021, bank's stock lost over 75% of value.
- The Zurich-based lender had waved goodbye to more than eight billion Swiss francs during the global financial crisis 15 years ago
- Credit Suisse recorded net asset outflows of 110.5 billion Swiss francs in the fourth quarter of last year alone, mostly in October
Economy
Turkey, Syria quake economic losses may exceed $4 billion: Fitch
More than 17,500 people have died so far in the 7.8-magnitude earthquake that struck Turkey and Syria.
- More than 17,500 people have died so far in the 7.8-magnitude earthquake that struck Turkey and Syria.
- Insured losses will be much lower, possibly around $1 billion, due to low insurance coverage in the area.
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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
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West tells Iran to ‘stand down’ Israel attack threats; Tehran says ‘no way’
With tensions soaring in the Middle East, the United States says that Iran along with its proxies might attack Israel...
OPEC says Chinese economy pulling down oil demand
Paris, France -- Uncertainty about Chinese economic growth is weighing on global oil demand this year, OPEC said on Monday, leading...
Geostrategy
Calls for Gaza truce grow, Hamas wants Biden plan implemented
Biden had said the first phase of the proposed roadmap would include a "full and complete ceasefire" lasting six weeks,...
Geostrategy
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Geostrategy
US orders carrier group to hasten Middle East arrival
He said Austin, who spoke with his Israeli counterpart Yoav Gallant on Sunday, had also ordered the USS Georgia guided missile...
- US Defence Secretary Austin ordered the aircraft carrier strike group led by the USS Abraham Lincoln, and equipped with F-35 fighters, to "accelerate its transit" to the region
- The United States announced last week that it was deploying the strike group, as well as additional ballistic missile defense-capable cruisers and destroyers
Geostrategy
Israel faces anger over Gaza school strike rescuers say killed 93
Mahmud Bassal, spokesman for the civil defence agency, said 11 children and six women were among the 93 who died...
- The bombardment of Al-Tabieen religious school and mosque drew criticism from across the Middle East and beyond alongside calls for a ceasefire
- Civil defence rescuers in the Hamas-ruled territory said three Israeli missiles hit the complex in Gaza City while people were performing dawn prayers
Former YouTube CEO Susan Wojcicki dies of cancer aged 56
San Francisco, United States - Tech pioneer and former YouTube chief Susan Wojcicki, who played an instrumental role in the rise...
- Wojcicki, one of the most prominent women in Silicon Valley, spent nearly two decades helping transform Google from the search engine startup to a global behemoth
- At YouTube, which Google acquired in 2006, Wojcicki helmed operations for nearly a decade, before stepping down last year to focus on her family, health and personal projects