Dubai records over 4,000 new-real estate activities in H1 2025
Dubai, UAE -- Dubai’s real estate market recorded 4,049 new activities in the first half of this year, reflecting the...
Business
Thousands protest in Tel Aviv against Israeli govt move to expand Gaza war
Demonstrators waved signs and held up pictures of hostages still being held in the Palestinian territory as they called on...
Geostrategy
Geostrategy
Beirut blast probe suspended, restarted, now stalled again
Since its early days, the probe has faced a slew of political and legal challenges, with high-level officials who had...
- The deadly August 4, 2020 blast was one of history's biggest non-nuclear explosions, destroying much of Beirut's port and surrounding areas and injuring thousands
- Authorities said that tons of ammonium nitrate fertilizer haphazardly stocked in a port warehouse since 2014 had caught fire, causing the explosion
Economy
Tunisia milk market ‘collapsing’ as feed prices soar
Since October, many shops in Tunisia have restricted milk purchases to two cartons per person as consumers scramble for limited...
- The North African country's farming union says the price of cattle feed has risen by up to 40 percent in the past year
- The dairy sector's woes have been exacerbated by years of drought, drying up reservoirs and making it harder for farmers to grow their own fodder
Business
Adani group ‘exploring’ legal action against Hindenburg Research
Mumbai, India - An Indian conglomerate owned by Asia's richest man Gautam Adani said Thursday it was exploring legal action against...
- Hindenburg's report accused Adani Group of engaging in a "brazen stock manipulation and accounting fraud scheme over the course of decades".
- Shares in flagship Adani Enterprises fell as much as three percent on Wednesday, before recovering to trade 1.07 percent lower at the close in Mumbai.
Market Report
Markets rise on better-than-expected US growth
Stock markets rose as US data showed the country grew at a slower pace in 2022 but finished the year...
- For 2022 as a whole, the US economy grew at a slower pace than the previous year, expanding 2.1 percent, the Commerce Department said.
- Investors are also focused on the next move of the US Federal Reserve, which has hiked rates since last year in a bid to tame galloping inflation.
Economy
US economy slows in 2022, may result in lower Fed rate hikes ahead
Household spending and business investment remained positive in the final quarter last year though they slowed, while inventories and net...
- Economic activity has been moderating as the US central bank hiked the benchmark lending rate seven times last year.
- Against this backdrop, the world's largest economy expanded 2.1 percent for all of 2022, down from the figure in 2021.
Geostrategy
Lebanon central bank says freezes accounts of US-sanctioned individuals
The central bank "took a decision to freeze all the accounts" of Hassan Moukalled as well as those of his...
- Moukalled has previously acknowledged having acted as an intermediary in indirect negotiations between the central bank and Hezbollah.
- The United States has also slapped sanctions on two of his business interests: the Lebanese Company for Information and Studies (LCIS), and CTEX, a money exchange company.
Business
Nokia 2022 net profit $4.7bn
The company's Q4 net profit surged to US$3.4 billion.
- Nokia's annual net sales grew 12 percent to US$27.1 billion (24.9 billion euros)
- The company is engaged in a major competition to install 5G networks around the world
Geostrategy
Beirut blast victims’ relatives rally for probe judge
Families of victims killed in the 2020 Beirut blast rallied to support the judge probing the disaster, after he was...
- The August 4, 2020 blast destroyed much of the Lebanese capital's port and surrounding areas, killing more than 215 people and injuring over 6,500.
- Relatives of the victims and rights groups have blamed the disaster on an entrenched political class.
Geostrategy
Israeli forces kill nine Palestinians in West Bank raid: Ministry
The bloodiest violence in months in the Palestinian territories erupted during a raid on the crowded refugee camp in the...
- Palestinian health ministry said the death toll from the clashes rose to "nine martyrs, including an elderly woman" and that 20 people were wounded before Israeli forces withdrew.
- Palestinian health minister Mai al-Kaila charged that "occupation forces stormed Jenin Government Hospital and intentionally fired tear gas canisters at the pediatric department".
Business
IBM to lay off 3,900 workers
It posted profit of $2.9bn in the final three months of last year.
- The company said it would take a one-time $300 million charge in its first quarter this year
- It announced late last year that it will invest $20 billion in semiconductors, quantum computing and other cutting-edge technology in New York state
Most Read
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
Dubai records over 4,000 new-real estate activities in H1 2025
Dubai, UAE -- Dubai’s real estate market recorded 4,049 new activities in the first half of this year, reflecting the...
Business
Company News
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Lufthansa profit spikes in 2023
Business
Hamas says Netanyahu ‘stalling’ ceasefire deal with new terms
A source with knowledge of the talks said last week that Israel's return with extra demands was "a recurring theme"...
Lufthansa, Air France halt Beirut flights as Israel tensions rise
Beirut, Lebanon -- Air France and the German airline group Lufthansa said Monday they were suspending flights to Beirut after Israel...
Geostrategy
Jordan’s Umm al-Jimal added to UNESCO heritage list
Amman, Jordan - Jordan's Umm al-Jimal village has been added to UNESCO's World Heritage List, in a move hailed on Sunday...
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Business
AI startups swap independence for Big Tech’s deep pockets
Washington, United States -- It's the case of the vanishing startup: some of Silicon Valley's most promising names in the fast-developing...
- Critics believe these deals are acquisitions in all but name and have been especially designed by Microsoft or Amazon to avoid the attention of competition regulators.
- US, European and UK regulators on Tuesday signed a joint statement insisting that they won't let big tech companies run roughshod over the nascent AI industry.
Geostrategy
Israel vows retaliation after rocket kills 12 youths in occupied Golan Heights area
Israel's security cabinet on Sunday authorized Prime Minister Benjamin Netanyahu's government to decide on the "manner and timing" of a...
- Israel's military said Hezbollah fired the rocket from Lebanon, hitting a football pitch in the Druze town of Majdal Shams and killing the youngsters, between 10 and 20 years
- Hezbollah strongly denies involvement while the US and Israel pinned blame on Hezbollah. EU is pitching for an independent investigation into the incident
Business
US defends forcing sale of TikTok app
TikTok's suit argues this violates First Amendment rights of free speech.
- US intelligence agencies are concerned that China can "weaponize" mobile apps, justice department officials said
- A bill signed by President Joe Biden early this year set a mid-January 2025 deadline for TikTok to find a non-Chinese buyer or face a US ban.