Israel says struck Hezbollah missile factory in Lebanon
Israel said it carried out strikes on Thursday on sites used by Hezbollah to manufacture and store missiles in Lebanon,...
Geostrategy
Syrian, Israeli ministers to hold meeting in Baku on Thursday: diplomat
A Syrian-Israeli ministerial meeting is set to take place Thursday in Baku to discuss security matters in southern Syria, a...
Geostrategy
Economy
US wholesale price inflation slows in October
US wholesale prices continued to rise in October but at a slower pace than in the prior month, according to...
- The producer price index in US rose just 0.2 percent compared to September, the Labor Department reported.
- Annual PPI in the US slowed to 8 percent in October, the data showed, down from 8.5 percent in the prior month.
Geostrategy
Israel swears in new parliament as Netanyahu readies govt
Of the 120 lawmakers elected on November 1, 64 have endorsed Netanyahu to lead the next government, clearing the way...
- Despite broad ideological alignment among the pro-Netanyahu parties, coalition talks may take time with Religious Zionism's leaders -- Bezalel Smotrich and Itamar Ben-Gvir.
- Ben-Gvir, the leader of the Jewish Power party, wants Israel to annex all of the occupied West Bank. He wants to be public security minister.
Business
TotalEnergies, ENI sign deal on Israel-Lebanon gas field
It comes after Lebanon and Israel said in October that they had struck an "historic" deal to resolve a maritime...
- Lebanon divided its exclusive economic zone at sea into 10 "blocks", and block nine was part of the area disputed with Israel.
- Under the agreement with Israel, Lebanon gained full rights to operate and explore the Qana or Sidon reservoir, parts of which fall in Israel's territorial waters.
Business
Walmart posts Q3 loss of $1.8bn
Settlement on opioid cases hit earnings of the firm.
- The opioid crisis in the US - causing over 500,000 deaths over 20 years - triggered a flurry of lawsuits against drugmakers, distributors and pharmacies.
- US pharmacy chains CVS Health and Walgreens similarly reached preliminary agreements this month to pay more than a total of $10 billion to resolve opioid claims.
Geostrategy
Saudi Crown Prince begins Asian tour amid row with Washington
Mohammed bin Salman left Monday for the Group of 20 summit in Bali, Indonesia. The official Saudi Press Agency said...
- A likely stop is South Korea, where local media report the crown prince will meet business leaders. He is then expected to attend the Asia-Pacific Economic Cooperation forum.
- The trip comes as Riyadh feuds with Washington over the OPEC+ oil cartel's October decision to cut production by two million barrels per day.
Business
Three out of four bitcoin investors have lost money: study
The researchers did not have direct data on the gains or losses of individual investors. However, they were able to...
- The number of people using smartphone apps allowing one to purchase and sell cryptocurrencies rose from 119,000 to 32.5 million during the same period, study said
- Study found that the biggest segment of new cryptocurrency investors were men under 35, and who are commonly identified as the most "risk-seeking" segment
Business
Google agrees to pay US$392m in a privacy settlement
A statement said it was the largest multi-state privacy settlement by state authorities in US history and included a binding...
- A joint lawsuit by 40 states grew from impatience over the failure of federal authorities to crack down on big tech amid legislative gridlock in Washington
- Since 2018, the US tech giants have faced strict rules in Europe, with Google, Amazon and others subjected to hefty fines over privacy violations
Business
Amazon to layoff 10,000 employees: report
The layoffs would follow an aggressive hiring spree. With business booming due to the coronavirus pandemic, as cooped up people...
- This represents a little less than one percent of the group's total payroll, which had 1.54 million employees worldwide at the end of September
- It doesn't include seasonal workers who are recruited during periods of increased activity like the Christmas holidays
Geostrategy
Row between Libya council and Dbeibah’s government escalates
Accusing the government of prime minister Abdulhamid Dbeibah of preventing it from meeting, Libya's High Council of State said armored...
- The council's head, Khaled al-Mishri, said in a video statement on Facebook that the body had been due to vote on a constitutional basis for elections
- Polls had been set for December 2021 to elect a replacement for Dbeibah's government, but were indefinitely postponed
Business
Twitter prank focuses unexpected spotlight on insulin prices
The backlash against Eli Lilly showcased the real-life potential of online disinformation to trigger chaos and financial loss. The company's...
- Eli Lilly stock price tumbled after a parody account stamped with a verification tag purchased for $8 tweeted that insulin was being made available for free
- The prank sparked panic inside Eli Lilly, with officials scrambling to contact Twitter representatives to take it down, but the platform did not react for hours
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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
Israel says struck Hezbollah missile factory in Lebanon
Israel said it carried out strikes on Thursday on sites used by Hezbollah to manufacture and store missiles in Lebanon,...
Geostrategy
Company News
NatWest profit soars 32%
Business
Latest News
Amal Clooney helped ICC weigh Gaza war crimes evidence
Washington, United States - Amal Clooney helped the International Criminal Court weigh evidence that led to the decision to seek arrest...
Geostrategy
Allies mourn Raisi’s death, hailed as supporter of Palestinian resistance
Paris, France -- Iran's powerful allies on Monday mourned the death of its President Ebrahim Raisi in a helicopter crash, while...
Geostrategy
Saudia Group in ‘landmark’ deal for 105 Airbus planes
In a wide expansion of aviation services, Saudi Arabia's top airline Saudia Group has place an order of 105 aircraft...
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Geostrategy
Iran media declares President Raisi dead, no official confirmation yet
"The president of the Islamic Republic of Iran, Ayatollah Ebrahim Raisi, had an accident while serving and performing his duty...
- Foreign Minister Hossein Amir-Abdollahian was also on board along with the governor of East Azerbaijan
- Vice-president Mohmmad Mokhber should take over presidential duties if Raisi's death is officially confirmed
Saudi king treated for lung infection: statement
Riyadh, Saudi Arabia - Saudi Arabia's King Salman has a lung infection and is undergoing a treatment programme involving antibiotics, the...
- Earlier in the day, the Royal Court said King Salman was suffering from "high temperature" and would undergo medical tests at Al-Salam Palace in Jeddah
- It was the second time in less than a month that the Saudi government had commented publicly about the 88-year-old king's health
Geostrategy
Deadly strikes hit Gaza as US envoy visits Israel
Israel has also fought and bombed resurgent Hamas forces in northern and central areas of the coastal territory previously considered...
- Israel's Prime Minister Benjamin Netanyahu has vowed to keep fighting Hamas in Gaza, following its October 7 attack that sparked the war
- Sullivan met his Israeli counterpart Tzachi Hanegbi and Netanyahu in Jerusalem for talks on the brutal Gaza conflict and post-war scenarios