INSEAD Day 4 - 728x90

Borouge okays $656m dividend

The company said dividend reflects its resilience

DEWA posts record H1 profit

Revenue reaches record $4.04 billion.

Tabreed H1 revenue $308m

Blurb: Profit reaches $52 million in H1

ADNOC L&S to expand fleet

It will acquire 11 carriers for $1.3bn.

Empower profit climbs 16%

Dubai district cooling demand lifts earnings

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...

Turkey seeks proof of insurance from Russian oil tankers as EU imposes price cap

Istanbul, Turkey - Turkey said Wednesday it has started requesting proof of insurance from tankers loaded with Russian crude oil...
  • The European Union and the Group of Seven leading industrialized nations agreed last week to block Western insurers from covering ships that intend to sell Russian oil above $60.
  • One source told AFP that Turkish officials began requesting proof of insurance from tankers passing from Russia at the start of the month.

Xi Jinping reaches Saudi as China seeks energy cooperation

The trip -- only Xi's third overseas journey since the coronavirus pandemic began, and his first to Saudi Arabia since...
  • Oil markets are expected to be a top agenda item for talks between China and Saudi, especially given the turbulence the markets have experienced since Russia invaded Ukraine.
  • China is the top customer for oil from Saudi Arabia, the leading exporter of crude, and both sides appear keen to expand their relationship.

Germany busts far-right ‘terror cell plotting to overthrow state’

Around 3,000 officers including elite anti-terror units took part in the early morning raids and searched more than 130 properties,...
  • Suspects include alleged members of "Citizens of the Reich" movement, suspected of "having made concrete preparations to violently force their way into the German parliament.
  • The Reichsbuerger movement includes neo-Nazis, conspiracy theorists and gun enthusiasts who reject the legitimacy of the modern German republic.

Webb telescope promises new age of the stars

Researchers using the new observatory have found the furthest galaxies ever observed, one of which existed just 350 millions years...
  • Scientists say the Webb telescope, now orbiting the sun at a million miles from Earth, should last 20 years, twice its guaranteed lifetime
  • Jupiter has been captured by the telescope in incredible detail which is expected to help understand the workings of the giant gas planet

India raises interest rate but at slower pace

Mumbai, India—India's central bank on Wednesday raised its main interest rate for the fifth time this year, but by a smaller...
  • Reserve Bank of India's move comes after US Federal Reserve chairman Jerome Powell signalled last week that officials would begin to take their foot off the pedal
  • The Indian central bank retained its inflation forecast of 6.7 percent for the fiscal year to March but trimmed its economic growth projection to 6.8 percent from 7.0 percent

As AI rises, lawmakers try to catch up

Artificial Intelligence promoters reckon it is revolutionizing human experience, but critics stress that the technology risks putting machines in charge...
  • Suresh Venkatasubramanian of Brown University, who co-authored the AI Bill of Rights, said trying to define AI was "a mug's game"
  • Experts reckon no dedicated AI legislation is likely in the United States until 2024 at the earliest because Congress is deadlocked

World economy faces more pain in 2023 after a gloomy year

Economists expect Germany and another major eurozone economy, Italy, to fall into recession. Britain's economy is already shrinking. Rating agency...
  • IMF still expects the world economy to expand in 2023, with growth of 2.7 percent but the OECD is forecasting 2.2-percent growth
  • Natural and man-made catastrophes have caused $268 billion in economic losses so far in 2022, according to reinsurance giant Swiss Re

UN biodiversity talks begin, advertised as ‘last chance’ for nature

Delegates from across the world gathered for the December 7-19 meeting to try to hammer out a new deal for...
  • Some countries want to set up a separate funding mechanism for biodiversity, which wealthy nations have largely resisted
  • NGOs say the lack of world leaders at COP15 risks dampening momentum at the talks and could scupper an ambitious settlement

French winner says Nobels an institution ‘for men’

Stockholm, Sweden—The Nobel Prize is an institution "for men", literature laureate Annie Ernaux of France told AFP on Tuesday in an...
  • Ernaux is just the 17th woman awarded the Nobel Literature Prize since it was first handed out in 1901
  • The feminist and activist said she wanted to dedicate her Nobel "to all those who suffer, who suffer from domination in one way or another

World Cup victory over Spain makes Morocco the ‘pride’ of Arab fans

Doha, Qatar— Thousands of Morocco fans descended on the streets of Doha to celebrate their country becoming the first Arab...
  • The victory over Spain became a celebration of "Arab pride" for supporters from across the region
  • Saudis, Qataris and Egyptians joined the celebrations, waving their countries' flags in the traditional market as police gathered around the edge

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...

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Israel pounds Gaza refugee camp as war enters ninth month

In a new diplomatic push, US Secretary of State Antony Blinken will visit Israel and key regional partners Egypt, Jordan...

COP29 climate hosts say they’ll keep expanding fossil fuels

Bonn, Germany -- The incoming president of the COP29 UN climate summit in Azerbaijan told AFP on Friday that his country...

Unemployment rate nearly 80 percent in Gaza, says United Nations

Geneva, Switzerland -- The war in Gaza has seen the unemployment rate in the besieged Palestinian territory surge to nearly 80...
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Gaza hospital says 37 dead in strike on UN school Israel says used by Hamas

"The government of Israel has said that they are going to release more information about this strike, including the names...
  • The raid came after US, Qatari and Egyptian mediators resumed talks aimed at securing a truce and hostage-captive swap in the eight-month war
  • The Israeli military said it had "eliminated" several fighters in a "precise strike on a Hamas compound embedded inside a UNRWA school."

Israeli army claims deadly strike on ‘Hamas compound’ inside UN school in Gaza

The hospital reported an electrical generator failure earlier in the night, which risked complicating the treatment of patients. Prior to...
  • Israeli "fighter jets... conducted a precise strike on a Hamas compound embedded inside an UNRWA school in the area of Nuseirat", the army said in a statement
  • The Hamas media office said at least 27 people were killed and dozens injured in the strike and taken to Al-Aqsa Martyrs Hospital

Qatar PM, Egypt intelligence chief meet Hamas in Doha

Qatar, with the United States and Egypt, has been engaged in months of negotiations over details for a ceasefire in...
  • The lead mediators met with the Palestinian militant group to "discuss a deal for a truce in Gaza and the exchange of hostages and prisoners."
  • CIA chief Bill Burns was also expected in Qatar to continue working with mediators to reach an agreement on a cessation of hostilities, the informed source had told AFP