Iran says US accountability for attacks on nuclear sites part of any future talks
Iran said Monday it would hold the United States accountable for attacks on its nuclear sites in any future negotiations,...
Geostrategy
AI search pushing an already weakened media ecosystem to the brink
New York, United States - Generative artificial intelligence assistants like ChatGPT are cutting into traditional online search traffic, depriving news...
Economy
Business
Musk relaunches Twitter Blue after fake account fiasco
The first try last month came just 10 days after Musk's $44 billion takeover of the platform and a mass...
- The initial rollout of Twitter Blue caused an uproar when many fake accounts popped up pretending to be celebrities or companies
- The relaunch of Twitter Blue in a handful of countries including the US comes as the Tesla and SpaceX owner has stepped up his tweets endorsing right-wing causes
Business
FTX founder Sam Bankman-Fried arrested in the Bahamas
Nearly a month after the downfall of FTX, its founder Sam Bankman-Fried was arrested in the Bahamas at the request...
- He had in recent weeks defied legal advice and multiplied media appearances offering his version of his company's sudden failure, usually by video link from the Bahamas
- The price of FTT plunged in early November, roiling both Alameda and FTX, where Alameda had large trading positions
Geostrategy
Libyan accused of Lockerbie bombing charged in US court
The judge presiding over the hearing in a US District Court in Washington read the 71-year-old Masud the charges and...
- Masud, who allegedly worked as an intelligence operative for the regime of Libyan dictator Moamer Kadhafi, faces three counts related to the bombing
- Federal prosecutors said they did not intend to seek the death penalty but Masud could face life in prison if convicted
Business
EDB, ADCB ink pact for UAE SMEs
The MoU will enable SMEs access to financing options.
- The scheme is in line with EDB’s mandate to provide AED 30 billion towards the development of the UAE economy in five strategic sectors.
- The Memorandum of Understanding (MoU) will enable SMEs in the UAE to have improved access to strategic financing options.
Business
Microsoft to buy 4% stake in LSE
Microsoft will acquire a holding worth $1.8 bn at current prices.
- The long-term partnership focuses "next-generation data and analytics and cloud infrastructure solutions" including artificial intelligence (AI).
- Microsoft CEO said advances in cloud and AI technology would "fundamentally transform how financial institutions research, interact, and transact".
Business
Mercedes plans $1.05 bn investment
It will build a plant in Poland to build fully electric vans.
- The site will be located in Jawor, southwestern Poland, where the group has already been manufacturing combustion engines since 2019.
- It comes as Mercedes and rival automakers globally are spending vast sums as part of a major industry-wide shift towards electrification.
Business
Amgen to buy Horizon Therapeutics
The US biopharma firm will pay US$28 billion for the deal.
- This is the biggest acquisition of the year in the health sector.
- The deal is subject to approval by US regulators and if all goes well it should be concluded in the first half of 2023, Amgen said.
Economy
UK economy posts growth as GDP rises 0.5% in October
Gross domestic product fell 0.6 percent in September after businesses closed for the royal funeral, and Britain's economy shrank by...
- Britain's finance minister Jeremy Hunt said in a statement that despite the figures showing growth, "there is a tough road ahead"
- The Bank of England has predicted the UK economy would contract in the final quarter of 2022, meaning the economy was in a recession
Geostrategy
Second protest-related execution carried out in Iran
Paris, France—Iran on Monday executed a second man convicted over the protests that have shaken the regime for almost three...
- The latest execution came with global outrage still reverberating after Iran on Thursday carried out the first execution linked to the protests
- Iran's use of the death penalty is part of a crackdown that Olso-based Iran Human Rights (IHR) says has seen the security forces kill at least 458 people
Economy
ECB mulls rate hike slowdown on ‘peak inflation’ hopes
As part of its monetary policy tightening, the ECB will on Thursday outline the next steps in its efforts to...
- Following two consecutive interest rate hikes of 75 basis points, markets are on tenterhooks to see whether the ECB will keep up the aggressive pace or downshift to 50 basis points
- This week's meeting of the ECB's 25-member governing council in Frankfurt will be the final one of 2022, a year that will be remembered for unprecedented consumer price shocks
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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
Iran says US accountability for attacks on nuclear sites part of any future talks
Iran said Monday it would hold the United States accountable for attacks on its nuclear sites in any future negotiations,...
Geostrategy
Company News
Latest News
IEA sees ‘major’ oil supply surplus emerging by 2030
Paris, France -- The world is likely to have a "major surplus" of oil by 2030 as production is ramped up...
Business
Blinken heads to key mediator Qatar after Hamas seeks tweaks to truce deal
US Secretary of State Antony Blinken was heading on Wednesday to talks in key mediator Qatar after Hamas gave a...
Geostrategy
Oil and gas industry hops on generative AI bandwagon
In recent years the downstream industry, which includes refineries that process crude oil into gasoline, has increasingly relied on so-called...
Most Read
Geostrategy
Blinken in Israel to push ceasefire plan for Gaza
US Secretary of State Antony Blinken will hold talks with key Israeli opposition figures on Tuesday, a day after he...
- On Monday, the UN Security Council adopted a US-drafted resolution supporting a six-week ceasefire plan,
- Four Israeli soldiers had been killed in fighting in southern Gaza yesterday
Business
Intel suspends expansion of factory plan in Israel
New York, United States - Intel is halting the expansion of a major factory project in Israel, which was going to...
- The chip giant in December said it was going to expand an ongoing $10 billion plan at the Kiryat Gat site, in the south of the country, currently under construction
- Solicited by AFP, Intel on Monday gave no reason for the pause for the next phase and made no link to the ongoing conflict with Hamas in Gaza
Geostrategy
Israeli forces kill 4 Palestinians in West Bank
The Israeli military said it shot at a group of four people who attempted to flee in a vehicle and...
- A general strike was called in Ramallah by Palestinian president Mahmud Abbas in response to the killings, along with a pre-planned rally for Palestinians jailed by Israel
- Israel has occupied the West Bank since the 1967 war and hundreds of thousands of settlers have since moved to the Palestinian territory, in breach of international law