UAE begins pipeline project to ease Gaza water shortage
Jerusalem, Undefined -- The United Arab Emirates has begun construction on a major pipeline to carry desalinated water from Egypt...
Geostrategy
Russia to face new US sanctions unless ends Ukraine war in 10 days: Trump
US President Donald Trump said his deadline for Russia to end the fighting in Ukraine or face new sanctions will...
Geostrategy
Science
Tropical Storm Nicole delays launch of NASA Moon rocket
After two launch attempts were scrubbed this summer because of technical problems, the rocket had to be returned to the Vehicle...
- A senior official at the US space agency said that a launch attempt, which had been scheduled for November 14, will now take place on November 16
- Some experts have voiced concern that the rocket, which is estimated to cost several billion dollars, could be damaged by debris from the hurricane if it remains exposed
Business
Elon Musk sells nearly $4bn in Tesla stock: SEC filing
Musk has been searching for ways for the social media platform to make money after the buyout, including an idea...
- Documents filed with the SEC indicated that he had disposed of more than 19 million shares, worth in excess of $3.9 billion
- Musk has been pushing for ways to pay for the massive deal, for which he took on billions of dollars in debt and earlier sold $15.5 billion worth of shares in Tesla
Business
Crypto billionaire Sam Bankman-Fried falls prey to Binance
Described by his admirers as the white knight of a sector plunged into turmoil, SBF suddenly saw its star fade...
- Bankman-Fried has pledged to donate almost all of his fortune to his favored causes, like animal welfare and the fight against global warming
- Just over 24 hours after denying rumors of trouble, Bankman-Fried announced on Twitter that he had reached a "strategic transaction" with Binance
Geostrategy
Turkey says Greek governor detained due to technical error
Istanbul, Turkey— A senior Greek official was detained in Turkey at the weekend because of what the Ankara government described as...
- Pro-government paper Daily Sabah said Governor Tzitzikostas had been mistaken for someone else of the same name
- The two countries, which have historically testy relations, have been engaged for months in a war of words, most notably over their air and sea borders, and immigration
Business
Disney+ gains 12m subscribers as losses pile up
Although its subscriber base has swelled by 12 million users, Disney+ has seen its operating losses touch $1.47 billion for...
- Disney+, fast on the heels of Netflix, is about to launch a cheaper but ad-supported subscription offering to attract even more viewers
- Sales and profit for the entertainment group as a whole were below analyst expectations and shares in Disney fell as much as 7.9 percent in late trading
Nine countries join alliance to boost offshore windpower
Offshore wind can be deployed at large scale, in short timeframes and at competitive cost, GOWA said in a statement....
- The Global Offshore Wind Alliance (GOWA) was set up by the International Renewable Energy Agency (IRENA), Denmark and the Global Wind Energy Council
- IRENA and the International Energy Agency (IEA) predict that offshore wind capacity will "need to exceed 2000GW in 2050, from just over 60GW today."
Business
Adidas picks new CEO
The new CEO is being given a five-year contract, the firm said.
- Bjorn Gulden, the Norwegian former professional football and handball player will take on the role from January next year
- He has held senior roles at companies including shoe retailer Deichmann and clothing and sports equipment company Helly Hansen.
Business
Binance to buy rival FTX
No financial terms were disclosed of the proposed deal.
- Bitcoin slid more than five percent, trading back under $20,000 before recovering.
- FTX's FTT token slumped 25 percent to its lowest levels since early 2021.
Market Report
Global stocks move higher as US voters cast ballots
Global stock markets mostly moved higher as Americans headed to the polls in midterm polls. The dollar got back some...
- Investors are waiting on US inflation data due on Thursday for a pointer on the interest path ahead.
- The broader S&P 500 and tech-heavy Nasdaq wobbled around before moving higher.
Geostrategy
Net zero claim not valid if companies invest in fossil fuels: Guterres
Antonio Guterres said businesses as well as cities and regions should update their voluntary net zero pledges within a year...
- The UN expert panel, convened after UN climate talks in Glasgow last year, set its sights on drawing a "red line" around greenwashing in net zero targets from companies, cities.
- Firms would also not be able to continue activities that result in deforestation and still claim they are decarbonising, the panel said.
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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
UAE begins pipeline project to ease Gaza water shortage
Jerusalem, Undefined -- The United Arab Emirates has begun construction on a major pipeline to carry desalinated water from Egypt...
Geostrategy
Company News
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Sony hikes net profit forecast
Business
Israel says more troops to ‘enter Rafah’ as operations intensify
Israeli forces took control earlier in May of the Gaza side of the Rafah crossing with Egypt, in a push...
Geostrategy
Hamas chief says group to decide on post-war Gaza rule with Palestinian factions
Ismail Haniyeh on Wednesday said the movement will be involved in deciding post-war rule in Gaza along with other Palestinian...
Geostrategy
Israel PM says no ‘humanitarian catastrophe’ in Rafah as almost 500,000 evacuated
The United Nations said Tuesday that nearly 450,000 people had been displaced from Rafah since Israel first began issuing evacuation...
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Geostrategy
Hezbollah commander among two killed in Israeli strike: source
Lebanese state media said an Israeli strike on a car in the country's south killed two people Tuesday, with a...
- Hezbollah said that one of its fighters, a field commander, Hussein Makki, was "martyred on the road to Jerusalem'
- At least 413 people have been killed in Lebanon in seven months of cross-border violence,
Geostrategy
Palestinians mark ‘Nakba’ anniversary as thousands flee Gaza’s Rafah
Tens of thousands of civilians fled the southern Gaza city of Rafah ahead of a threatened Israeli ground offensive, as...
- Nearly 450,000 Palestinians have been displaced from Rafah since May 6
- Right-wing activists stopped and ransacked at least seven Gaza-bound aid trucks coming from Jordan
Quarter of Gazans displaced again as fighting rages north to south
Fighting has flared in north Gaza four months after the army said Hamas's command structure there had been dismantled, and...
- Clashes have rocked the densely crowded far southern city of Rafah but also flared again in northern and central Gaza months after troops and tanks first entered those areas
- US State Department spokesman Vedant Patel on Tuesday said that while Washington backed military pressure on Hamas, it was not the only way to "fully defeat" the group