Nvidia, AMD to pay US 15% of AI chip sales to China: reports
Washington, United States -- US semiconductor giants Nvidia and Advanced Micro Devices have agreed to pay the United States government...
Business
Netanyahu says new Gaza plan ‘best way to end the war’ as criticism intensifies
UN says 'if these plans are implemented, they will likely trigger another calamity in Gaza, reverberating across the region and...
Geostrategy
Business
Humanoid robots to take center stage at UN meet on AI
Geneva, Switzerland---Eight humanoid robots will be the star attractions when the United Nations hosts its first summit since the start of...
- The AI for Good Global Summit, first held in 2017, will return to Geneva on July 6 and 7 after a three-year Covid-imposed break.
- The event will aim to showcase how artificial intelligence and other new technologies can help reach the UN's so-called sustainable development goals.f
Business
SK Hynix posts record loss
The company is world's second-largest memory chip maker
- The South Korean chipmaker SK Hynix reported an operating loss of $1.4 billion in the October to December period
- Hynix's results come a day after Samsung Electronics said fourth-quarter operating profits plunged nearly 70 percent
Business
Electric car sales gain pace despite roadblocks
Paris, France-- The electrification of the auto industry is gathering pace, particularly in Europe, where the sale of new cars running...
- US is giving its electric car industry a major boost with the passage of a $370 billion green energy bill that includes tax cuts for US-made electric cars and batteries
- Tesla has announced price cuts on electric cars of up to 20 percent in Europe and the United States in early January, quickly followed by a similar move from Ford
Lebanese villagers fight to stem illegal logging
Lebanon, whose flag bears a cedar tree, is known for its greenery, with forests covering 13 percent of its territory.
- He said around 30,000 trees had been planted in the past two decades but that since September, logging had become a regular occurrence.
- Lebanon has the largest juniper woods in the Middle East, according to the environment ministry, and is also home to pine, oak, cedar and fir forests.
Geostrategy
Israel considers sending military aid to Ukraine
Israeli PM's remarks come after a visit by US Secretary of State Antony Blinken, who called for calm following a...
- Israeli PM has confirmed that the US has shifted a little-known stockpile of artillery it stations in Israel to Ukraine and he cast the Jewish state's own operations against Iran
- Netanyahu said he was asked to mediate in an unofficial role after Russia invaded Ukraine in February but did not pursue it as he was then in opposition
Abbas succession battle could ‘collapse’ Palestinian Authority
The report says Abbas, who has been unwilling to designate a successor, has also "hollowed out or disabled the institutions...
- Abbas has repeatedly called off plans to hold presidential polls, as recently as 2021 when he scrapped scheduled elections citing Israel's refusal on allowing voting in Jerusalem
- The International Crisis Group report has named PA civil affairs minister Hussein al-Sheikh and PA intelligence chief Majid Faraj as possible successors of Abbas
Business
ExxonMobil posts bumper profits
The oil company's profits during Q4 stood at $12.8bn.
- Profits rose 43.7 percent to $12.8 billion in the fourth quarter, thanks to higher oil and natural gas prices and better refining margins compared with the year-ago period.
- The company's revenues from October through December rose 12.3 percent to $95.4 billion
Economy
Lebanon set to adopt new official exchange rate: central bank source
The Lebanese pound has been officially pegged at 1,507 to the greenback since 1997, but its market value began to...
- The first change to the official rate in more than two decades comes as the currency was trading at 58,000 to the dollar on the street on Tuesday
- Lebanon's finance ministry had announced last year that it would roll out the 15,000 official exchange rate in November, but the move was not implemented
Economy
New bank reforms reveal fraudulent dollar transactions: Iraq PM
Iraq's Prime Minister Mohammed Shia al-Sudani has said the country's new banking regulations have revealed fraudulent dollar transactions made from...
- An adviser to the PM had said that since mid-November, Iraqi banks wanting to access dollar reserves stored in the United States must make transfers using the electronic system
- The adoption of the SWIFT system was supposed to allow for greater transparency, tackle money laundering and help to enforce international sanctions
Business
Major UAE solar plant to go online before COP summit, says energy firm
ABU DHABI, UAE - One of the world's biggest solar plants will become fully operational this year in the oil-rich United...
- The UAE, a major oil exporter, is spending billions to develop enough renewable energy to cover half of its needs by 2050.
- State-owned Emirati companies TAQA and Masdar own 60 percent of the project, which they describe as the world's largest single-site solar plant.
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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
Nvidia, AMD to pay US 15% of AI chip sales to China: reports
Washington, United States -- US semiconductor giants Nvidia and Advanced Micro Devices have agreed to pay the United States government...
Business
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Travellers rush to leave Lebanon amid spiking tensions
Several airlines including Lufthansa and Air France have delayed or suspended flights to Lebanon, and countries have issued urgent calls...
Geostrategy
Fears of Middle East war grow after Hamas leader’s killing
Israel on Saturday again traded fire with Hezbollah, carried out a deadly raid in the occupied West Bank, and struck...
Geostrategy
US to deploy more warships, fighter jets to Mideast
Defense Secretary Lloyd Austin has also ordered additional ballistic missile defense-capable cruisers and destroyers to the Middle East and areas...
Geostrategy
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Biden says US committed to defend Israel against ‘all threats from Iran’
Biden, who was joined on the call by Vice President and Democratic presidential candidate Kamala Harris, also emphasized the "ongoing...
- The call between the leaders also came after Israel announced it had "eliminated Hezbollah military commander Fuad Shukr in Beirut
- Netanyahu's government has not commented on the slaying of Hamas political leader Ismail Haniyeh in Tehran, but the Palestinian group has blamed Israel
Business
Intel to slash workforce
The company to cut approximately $20 billion in expenses this year.
- The plan to cut approximately $20 billion in expenses this year came as Intel reported a loss of $1.6 billion in the recently ended quarter
- Intel reported having 124,800 employees at the end of last year, meaning the layoffs could hit about 18,000 positions
Geostrategy
Iran, allies ready Israel response as funerals held for Haniyeh, Shukr
Hezbollah chief Hassan Nasrallah, addressing the funeral of the Lebanese group's top military commander, said Israel and "those who are...
- The international community has called for calm and a focus on securing a ceasefire in the Gaza Strip -- which Haniyeh had accused Israel of obstructing.
- The prime minister of key ceasefire broker Qatar said Haniyeh's killing had thrown the whole Gaza war mediation process into doubt.