OpenAI releases ChatGPT-5 as AI race accelerates
San Francisco, United States -- OpenAI released a keenly awaited new generation of its hallmark ChatGPT on Thursday, touting "significant" advancements...
Business
Trump to host Armenia, Azerbaijan for historic ‘Peace Signing’ Friday
US President Donald Trump announced he will host the leaders of Armenia and Azerbaijan on Friday for what he called...
Geostrategy
Geostrategy
Clean energy manufacturing to hit $650 billion by 2030: IEA
The global market for key mass-manufactured technologies including solar panels, wind turbines, electric vehicle batteries, heat pumps and electrolyzers for...
- The world is at the "dawn of a new industrial age" of clean energy technology that will create millions of jobs, IEA said.
- Related jobs in clean energy manufacturing will more than double from six million to nearly 14 million by 2030, the agency said.
Insurers need to gear up for electric cars: Swiss Re
The market for the greener vehicles is expected to grow rapidly in response to consumers' worries about climate change, putting...
- Traditional vehicle insurance models are no longer enough to accurately capture the overall risk, a study by Swiss Re said
- Electric cars are quieter than internal-combustion vehicles, presenting a risk for pedestrians who don't hear them coming in noisy urban settings
Failed crypto giant FTX has salvaged $5 bn in assets
FTX, once the world's highest profile crypto exchange, collapsed spectacularly in November leaving nine million customers in the lurch and...
- FTX lawyer Andrew Dietderich said that the company was "well underway" on plans to sell other investments that had a book value of $4.6 billion
- FTX and its sister trading house Alameda Research went bankrupt in November, dissolving a virtual trading business that at one point had been valued by the market at $32 billion
Economy
Should fossil fuel firms be forced to clean up carbon pollution?
The study said impelling fossil fuel firms to use technologies to suck carbon from the air and bury it back...
- Researchers suggest, in the study published Thursday, that the principle of extended producer responsibility should be extended to the oil, gas and coal industries.
- The study's authors, including scientists and experts said the paper was a response to the energy crisis and potential lessons for the challenge of getting to net zero emissions
Economy
Crisis-hit Egypt’s currency halved in value since March
Egypt's economy was hit hard after Russia's invasion of Ukraine last February unsettled global investors and led them to pull...
- The devaluation, representing a drop of around 50 percent against the dollar over the 10-month period, comes as the price of imported food and other goods soars
- The currency plunged to 31.95 pounds to the dollar in state banks on Wednesday, before settling at 29.7 in the afternoon, according to the central bank.
Geostrategy
Saudi Arabia to use own uranium for nuclear project: minister
Seeking to reduce its dependence on crude, the world's biggest oil exporter, Saudi Arabia, has said that the kingdom intends...
- Riyadh approved its national atomic energy policy in March 2018 which limited nuclear activities to peaceful purposes and called for enhanced safety measures
- In 2021, the United Arab Emirates announced that its Barakah nuclear power plant had begun commercial operations as the first in the Arab world
Geostrategy
Iran and Iraq spar over naming of soccer event as Arabian Gulf
Tehran, Iran -- Iran has protested to Iraq over the use of the name "Arabian Gulf" for a regional football competition...
- The Islamic republic insists the body of water should be called the "Persian Gulf".
- It is the first time Iraq has hosted the biennial competition -- referred to as the "Gulf Cup".
Arts & Culture
Women DJs electrify Egypt music scene
In Egypt, the music industry remains male-dominated, while the country's cultural establishment marginalizes and even bans electronic music artists.
- Female partygoers for years have complained about harassment on the dance floor, while many revelers find mainstream venues too pricey.
- Now, a generation of young women DJs are forging their own path, seeking to create more inclusive spaces for performers and party-goers alike.
Business
Uniqlo parent company to boost Japan wages up to 40%
The increases will vary across staff categories, with newly arrived employees likely to see a bump of less than 20...
- The salary bump will apply to around 8,400 full-time employees out of the 56,000 working for parent company Fast Retailing in Japan
- The move comes with Japanese inflation at 3.7 percent in November, the highest figure since 1981, and follows calls from PM Fumio Kishida for higher wages
Business
Dior and Louis Vuitton name new chief executives
Paris, France--French luxury group LVMH announced a leadership shuffle on Wednesday, naming new chief executives at major brands Christian Dior Couture...
- LVMH said in a statement that Delphine Arnault will become CEO of Dior perfume and fashion house
- Bernard Arnault said in a statement that his daughter's appointment is the "continuation of a career of excellence in fashion and leather goods"
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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
OpenAI releases ChatGPT-5 as AI race accelerates
San Francisco, United States -- OpenAI released a keenly awaited new generation of its hallmark ChatGPT on Thursday, touting "significant" advancements...
Business
Company News
Latest News
Israel defense minister says “60 percent” of Hamas dead or wounded
Israel has launched major new offensives in Gaza City, even as it also embarks on contacts with international mediators on...
Geostrategy
Methanol-powered ship to set sail for Europe’s first ‘green’ route
Rotterdam, Netherlands -- The first methanol-powered ship to ply routes between Europe's busy ports was unveiled Tuesday in Rotterdam, with shipping...
Business
What we know about the rocky ‘roadmap’ to an elusive Gaza ceasefire
Jerusalem, Undefined - Qatari and Egyptian mediators are cajoling Israel and Hamas towards negotiations on a plan to end their war,...
Geostrategy
Most Read
Business
China’s BYD signs deal to open electric car plant in Turkey
Istanbul, Turkey -- China's electric vehicle giant BYD on Monday signed a one-billion-dollar agreement with Turkey to open a plant in...
- The one-billion-dollar agreement would likely help China dodge new European Union tariffs.
- The BYD facility will have an annual capacity of 150,000 vehicles as well as a research and development center.
Business
Chip giant TSMC briefly joins trillion-dollar club
New York, United States -- Chip-making juggernaut Taiwan Semiconductor Manufacturing Co. briefly surpassed $1 trillion in market capitalization on Monday as...
- TSMC controls more than half the world's output of chips and supplies them for everything from Apple's iPhones to Nvidia's cutting-edge artificial intelligence hardware.
- The company hit the threshold briefly after the opening bell in New York, but slipped lower in later trading.
Geostrategy
Gaza battles rage as mediators push for truce deal
Mediators Egypt and Qatar were due to host new talks this week, according to officials, as the bloodiest-ever Gaza war...
- Cairo and Doha have resumed diplomatic efforts to halt the fighting, aiming for an initial six-week ceasefire
- Hamas has signaled it would drop its insistence on a "complete" ceasefire