Tesla approves $29 bn in shares to Musk as court case rumbles on
Washington, United States -- Tesla announced an "interim" compensation award worth about $29 billion for Elon Musk on Monday, asserting...
Business
Iran sets up new defence council after war with Israel, to be chaired by president
The new body - which will be chaired by the president and include top military commanders among other senior officials...
Geostrategy
Economy
Morocco fans celebrate the impossible and ask for more
There were celebrations across the Arab world and in Europe after Morocco beat Portugal 1-0 in Qatar to become the...
- Waving flags of Morocco, Algeria, Syria and Palestine and singing in Arabic, the happy fans mingled with tourists in Paris to celebrate Morocco's win over Portugal
- On Saturday, in East Jerusalem, Ramallah and Gaza, Palestinians celebrated with fireworks, cheers and horns
Geostrategy
Iran summons UK envoy to protest support for ‘terror and unrest’
A day after summoning German envoy, Iran called in the British ambassador to lodge protest as demonstrations shake the country....
- Iran's official news agency said the foreign ministry protested the United Kingdom's support for "terror and unrest", and sanctions it has imposed
- Its foreign ministry summoned German ambassador Muzel for the fourth time since September
Arts & Culture
Morocco down Portugal to become first ever African World Cup semi-finalists
Morocco became the first African nation to reach the World Cup semi-finals as Youssef En-Nesyri's first-half goal sealed a tense...
- Morocco took a 42nd-minute lead through En-Nesyri's header as they came on strongly late in the first period.
- Five-time Ballon d'Or winner Ronaldo was sent on early in the second half by coach Fernando Santos.
Economy
Pipeline leak in US results in 588,000 gallons crude spill
Canadian-based TC Energy, which operates the pipeline, detected the leak Wednesday night in Kansas and immediately halted the flow of...
- If the estimate on the size of the spill holds, it will be the largest crude oil spill in the United States since 2013
- Transportation Secretary Pete Buttigieg tweeted that authorities "are monitoring and investigating the... leak."
Geostrategy
US could change green subsidies rules as EU fears unemployment
The United States is open to amending lucrative green subsidies that have drawn transatlantic anger for allegedly encouraging job losses...
- Washington's landmark Inflation Reduction Act contains $370 billion in subsidies for green energy and tax cuts for US made electric cars
- Biden defended the act and said it was never intended to disadvantage US allies, and has committed to understanding EU concerns.
Economy
US condemns WTO verdict on its steel tariffs
Geneva, Switzerland— Washington condemned the World Trade Organization's verdict Friday on the punitive US tariffs imposed on national security grounds on...
- Former US president Donald Trump's administration introduced the tariffs on steel and aluminium imports from China, Norway, Switzerland and Turkey
- The WTO's Dispute Settlement Body found the measures imposed by the United States were inconsistent with various articles of the General Agreement on Tariffs and Trade (GATT)
Economy
US lawmakers say oil giants ‘greenwashed’ image while hampering climate action
Washington, United States— Oil giants have "greenwashed" their public image while locking in fossil fuel production for years to come, potentially...
- An internal email from the American Petroleum Institute was said to show its 2021 climate action framework was organized around the aim of "continued promotion" of natural gas
- The House of Representatives committee launched its investigation in September 2021
Geostrategy
US presses UN on Israeli settlement business blacklist
The initial publication -- which listed US companies including Airbnb, Expedia and TripAdvisor -- was denounced by the then administration...
- The State Department confirmed that it had approached the UN human rights office with concerns about the list
- New UN rights chief, Volker Turk, faces an upcoming choice on whether to update the list and may do quietly without announcing it
Economy
Lebanon detains actor as witness in central bank chief case
A noted Lebanese actor Stephanie Saliba was briefly detained by authorities in Lebanon in connection with a money laundering case....
- Central bank chief Riad Salameh, 72, is among top officials widely blamed for Lebanon's unprecedented economic crisis
- The country opened a probe into Salameh's wealth last year, after the office of Switzerland's top prosecutor requested assistance in an investigation into more than $300 million
Geostrategy
European Union to add $2.1 bn to fund used for arming Ukraine
Diplomats said a preliminary agreement had been struck among the 27-member bloc to bolster the European Peace Facility, which has...
- But diplomats said a separate standoff with Hungary over its own frozen EU funds could see Budapest delay approval.
- The European Peace Facility was set up last year to help the European Union fund military assistance to its international partners as the bloc looks to increase its global clout.
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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
Tesla approves $29 bn in shares to Musk as court case rumbles on
Washington, United States -- Tesla announced an "interim" compensation award worth about $29 billion for Elon Musk on Monday, asserting...
Business
Company News
Chip giant TSMC shifts to Japan
Business
Latest News
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...
Geostrategy
Virgin Galactic completes final spaceflight before two-year pause
Washington, United States -- Virgin Galactic on Saturday successfully completed its last spaceflight before heading into a two-year pause on commercial...
Business
UN Security Council to vote on US Gaza ceasefire resolution
The text of the resolution "welcomes" the truce and hostage release proposal announced on May 31 by President Joe Biden,...
Geostrategy
Most Read
Geostrategy
Blinken meets Sisi in Cairo at start of Mideast tour
Blinken said his message to regional governments was that "if you want a ceasefire, press Hamas to say yes" to...
- Blinken said he had a "very good exchange" with Sisi
- The two had also been expected to discuss plans to reopen the Rafah border crossing between Egypt and Gaza
Geostrategy
Blinken returns to Mideast in push for truce
US Secretary of State Antony Blinken was heading back to the Middle East on Monday to push a ceasefire plan,...
- The US also called for a UN Security Council vote on a truce
- Overall Israel's military offensive has killed at least 37,084 people in Gaza
Business
Saudi Aramco says foreigners grab ‘majority’ of share offering
Riyadh, Saudi Arabia - Oil giant Saudi Aramco said Sunday that international investors had snatched up the bulk of shares sold...
- Aramco ended trading on Sunday at 28.60 Saudi riyals ($7.63) per share, after opening at 27.95 riyals, giving it a market capitalisation of around $1.85 trillion
- Aramco, the mostly state-owned jewel of the Saudi economy, announced on May 30 that it would sell 1.545 billion shares, or approximately 0.64 percent of its issued shares