Filmmakers try to cash in on India-Pakistan battle
Mumbai, India -- Indian filmmakers are locking up the rights to movie titles that can profit from the patriotism fanned...
Geostrategy
Turkey starts supplying Azerbaijani gas to boost Syria’s power output
Istanbul, Turkey - Turkey on Saturday turned on a supply of natural gas from Azerbaijan to Syria, whose infrastructure was...
Geostrategy
Geostrategy
Lebanon MPs again fail to elect President for 8th time
Lawmakers in crisis-hit Lebanon failed to elect a new president for an eighth time, despite the deepening impact of the...
- Parliament is split between supporters of the powerful Iran-backed Hezbollah movement and its opponents, neither of whom have a clear majority.
- Lawmaker Michel Moawad, who is seen as close to the United States, won the support of 37 lawmakers.
Geostrategy
US trade subsidies create unlevel playing field with Europe, says Macron
French President Emmanuel Macron repeated his frustration with US subsidies, saying they were hurting European companies by providing an unfair...
- Macron said that US industrial subsidies, which are part of Biden's huge green energy initiatives, are "super aggressive" towards European business.
- While Washington and Paris were "working closely together" on geopolitics and opposing Russia in its invasion of Ukraine, trade tensions remained, Macron said.
Market Report
World equities extend gains on Fed rate optimism
Global stocks rose as Federal Reserve boss Jerome Powell flagged a moderation in interest rate hikes, while China signaled a...
- Equities were also helped by signs that China is edging towards a more pragmatic approach to fighting the coronavirus.
- The dollar sank, having soared across the board this year as Fed monetary policy diverged more and more from other central banks.
Science
Financing for nature must more than double by 2025, says UN report
The world must increase financing for nature-based solutions to meet key climate, biodiversity and land degradation goals, a United Nations...
- The UNEP report said that investments for nature-based solutions must increase to US$384 billion per year by 2025.
- By 2030 finance flows of $484 billion a year will be required for nature-based solutions.
Business
Hackers dump Australian health data online, declare ‘case closed’
In November the hackers demanded health insurer Medibank pay US$9.7 million to keep the records off the internet -- or...
- Medibank refused to pay at the urging of the federal government, which at the height of the crisis considered making it illegal for hacked companies to hand over ransoms
- Australian Federal Police Commissioner Reece Kershaw said in November the hackers were believed to be a group of "loosely affiliated cyber criminals" who were based in Russia
Economy
World Bank says remittances to lower income countries ease in 2022
The World Bank estimates that cash transfers to low income countries eased this year as high prices ate up migrants'...
- The World Bank says while the reopening of economies as the pandemic receded helped with employment, rising costs "adversely affected migrants’ real incomes"
- Rising oil prices and continued demand for migrant workers boosted remittances to Central Asian countries
Economy
Fed report says US economic activity slows amid uncertainty
Washington, United States—US economic activity eased in recent weeks, while uncertainty and "increased pessimism" clouded the country's outlook amid high prices...
- The Fed's latest survey of economic conditions comes as the US central bank pushes on with its all-out effort to cool surging inflation
- Higher interest rates took a toll on home sales, which fell "steeply" in some districts
Economy
Nasdaq surges 3% as Fed Chair says could soon ease rate hikes
Stocks have risen over the last month, in part on expectations that the Fed would soon pivot on monetary policy....
- Near 1945 GMT, Nasdaq Composite Index was up 2.9 percent at 11,305.08 as Powell indicated that Fed could soon shift from its ultra-aggressive response to inflation
- Earlier, government data showed the United States economy grew at 2.9 percent in the third quarter, annualized, better than the 2.6 percent figure in the prior estimate
Geostrategy
Islamic State group says its leader killed ‘in combat’
The US military's Central Command (CENTCOM) said Hashimi had been killed in an operation carried out by rebels of the...
- US National Security Council spokesman John Kirby said: "We welcome the announcement that another leader from ISIS is no longer walking in the face of the Earth”
- The IS spokesman did not provide details of new leader, but said he was a "veteran" fighter and called on all groups loyal to IS to pledge their allegiance to its fourth leader
Business
Musk says Twitter clash with Apple a ‘misunderstanding’
The world's richest person, Elon Musk opened fire on the planet's most valuable company early this week over fees and...
- Musk also tweeted a video clip of "Apple's beautiful HQ" in Cupertino, California, noting that he had had a "good conversation" with Cook
- The billionaire CEO had earlier tweeted that Apple "threatened to withhold Twitter from its App Store, but won't tell us why."
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
Filmmakers try to cash in on India-Pakistan battle
Mumbai, India -- Indian filmmakers are locking up the rights to movie titles that can profit from the patriotism fanned...
Geostrategy
Company News
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Glencore 2023 profit down 75%
Business
Gaza mothers search for milk as malnutrition hits amid Israeli siege on aid
Deir El-Balah, Palestinian Territories -- Amira al-Taweel scoured pharmacies in northern Gaza for milk to feed her child but could not...
Geostrategy
Saudi Aramco begins second share offering, may fetch $12bn
The firm last Thursday disclosed plans to sell 1.545 billion shares on the Saudi stock market, priced between 26.70 and...
Business
Kuwait emir names former PM as new crown prince
Kuwait entered new political turbulence in May when the 83-year-old emir, Sheikh Meshal al-Ahmad al-Sabah, dissolved parliament just six weeks...
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Geostrategy
Hamas says Israel’s Gaza ceasefire proposal ‘positive’
The US president urged Hamas to accept the Israeli offer. "It's time for this war to end, for the day...
- But Israeli Prime Minister Benjamin Netanyahu insisted the army would continue fighting until it had "eliminated" Hamas's capacity to rule Gaza and pose a military threat
- Biden's address came as Israeli troops pushed into central Rafah, escalating the war with Hamas despite international objections to any assault on the southern Gaza city
Geostrategy
Houthis launch fresh drone, missile attacks from Yemen: US
Dubai, United Arab Emirates - Yemen's Iran-backed Houthis launched several drones and two ballistic missiles on Friday, the US military said,...
- US Central Command (CENTCOM) said it intercepted four drones launched by the Houthis - three over the Red Sea and another over the Gulf of Aden - while a fifth drone crashed
- The Houthis also launched two anti-ship ballistic missiles, according to CENTCOM, which said no injuries or damage were reported from US, coalition or commercial ships
Geostrategy
WFP warns of ‘apocalyptic’ scenes in southern Gaza
"The exodus that we've seen in the past 20 days or so out of Rafah has been an awesome and...
- The public health situation was "beyond crisis levels", he said, adding: "The sounds and smells of everyday life are horrific and apocalyptic."
- In central areas of the Gaza Strip, where many people fled, the WFP is providing around 400,000 hot meals a day, and has kept six bakeries functioning.