Food airdropped into Gaza as Israel says opening aid routes
UN's World Food Programme said a third of the population of Gaza had not eaten for days, and 470,000 people...
Geostrategy
US Fed poised to hold off on rate cuts, defying Trump pressure
Policymakers at the independent Federal Reserve have kept the benchmark lending rate steady since the start of the year as...
Economy
Geostrategy
Tunisia intercepts more than 800 migrants in one night
Authorities also said they had detained 48 people, including six already wanted for allegedly "joining a gang in order to...
- More than 23,500 migrants of various nationalities were intercepted off Tunisia between January and September, according to the FTDES rights group which tracks migration issues.
- While many of those making the trip are escaping war or poverty further south, a long-running economic crisis is also pushing growing numbers of Tunisians to attempt the journey.
Business
Reliance Q2 net profit at $1.65bn
RIL's core oil-refining business hit overall profits.
- Revenues from operations increased 33.7 percent on-year to US$28.19 billion helped by strong contributions from Reliance's newer consumer-facing businesses.
- Additional excise duties cost Reliance US$488 million (40.4 billion rupees) in the quarter, the company said,
Business
Credit Suisse sells 8.6% stake in Allfunds
Bank raised US$325m from its stake sale of Spanish firm.
- Credit Suisse acquired the minority stake in 2020 after selling its business-to-business investment fund platform, InvestLab, to Allfunds.
- The bank was rocked last year by the collapse of the British financial firm Greensill.
Economy
Thousands join Hungary teacher rebellion over ‘humiliating’ pay
With supermarket cashiers paid more than most teachers, thousands have joined the protests since the beginning of September, with human...
- Hungary is already in the grip of a chronic teacher shortage, with few young people joining the profession and 40 percent of teachers aged over 50.
- According to the EU, the centralised management of schools also leaves school directors with limited autonomy to improve teaching quality, further eroding morale.
Market Report
Pound sinks against dollar on UK political uncertainty
The British pound sank against the dollar on political uncertainty after the resignation of UK Prime Minister Liz Truss, while...
- The dollar strengthened also on expectations that the US Federal Reserve would press ahead with its program of bumper interest rate hikes.
- Traders were girding for another possible intervention by Tokyo after the dollar went above 150 yen.
Business
Google fined $162m by Indian watchdog over market dominance
Android had a suite of Google apps pre-installed on its phones, including the company's own search engine, "which accorded significant...
- The company's Android mobile operating system is by far the dominant player in India and is run on 95 percent of all the country's smartphones
- The Competition Commission of India (CCI) said Google had configured the platform to unlawfully crowd out rivals to its popular apps, including YouTube
Geostrategy
Shortest-serving PM in history leaves scars on the economy
The crisis-hit PM, elected Conservative leader just six weeks ago on a tax-slashing platform, announced her resignation Thursday. Her budget,...
- The measures triggered a loss of confidence on markets, sparking the downfall of the 47-year-old Oxford-born politician
- Investors also felt the budget splurge was in opposition to the BoE's recent interest rate hikes which sought to bring down runaway inflation
Business
Big staff cuts likely at Twitter: report
Twitter had filed a lawsuit to hold Musk to the terms of the takeover deal he inked in April, even...
- While pitching his deal to buy Twitter to investors, Musk said he planned to get rid of nearly three-quarters of the firm's workers
- Staff cuts at the San Francisco-based company would likely hamper the platform's ability to moderate abusive posts or keep data secure
Economy
EU agrees ‘roadmap’ to contain energy prices
The summit agreement set out a "solid roadmap to keep on working on the topic of energy prices", European Commission chief...
- The accord came after 11 hours of wrangling over broad proposals to lower energy bills as gas prices pushed skywards by the war in Ukraine
- The bloc's 27 member states have been squabbling for months over which joint initiatives to adopt, riven by the fact that energy mixes in the countries vary greatly
Business
Medicare net profit up 4.58% in first nine months of 2022
The earnings per share amounted to $0.54.
- Data issued by the company, published on Qatar Stock Exchange website, Thursday, indicated that earnings per share amounted to $0.54
- The Group was established in 1996, and was listed on Qatar Stock Exchange in 1997, with a capital of $77 million
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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
Food airdropped into Gaza as Israel says opening aid routes
UN's World Food Programme said a third of the population of Gaza had not eaten for days, and 470,000 people...
Geostrategy
Company News
Latest News
Israel says forces carrying out ‘offensive action’ in south Lebanon
Israeli forces are carrying out "offensive action" across southern Lebanon, Defence Minister Yoav Gallant said Wednesday without specifying whether ground...
Geostrategy
As ‘news deserts’ spread, US journalism fights on
Baltimore, United States - Baltimore Banner reporter Matti Gellman is first to leap in with questions during a recent press appearance...
Business
Israel pummels Gaza after US approves military aid
US-Israeli relations been strained by Israel's conduct of the war in Gaza and Israeli Prime Minister Benjamin Netanyahu's determination to...
Business
Most Read
Lebanon’s Hizbollah launched ‘dozens’ of rockets at Israel after civilian deaths
Hizbollah fighters fired "dozens of Katyusha rockets" at northern Israel "as part of the response to the Israeli enemy's attacks...
- The Iran-backed Hizbollah group and Israel have exchanged regular fire in the south of Lebanon since October
- Hizbollah said it launched "a combined air attack using decoy and explosive drones that targeted" two Israeli bases north of Acre
Business
FPT and Nvidia to build AI factory
Nvidia had invested around $250 million in Vietnam.
- FPT said it has established a strategic partnership with Nvidia, which includes plans to build a $200-million-dollar AI factory using Nvidia's AI software and chips.
- Nvidia's singular role in the AI revolution has taken the world by storm, with its powerful GPU chips and software an integral ingredient in the creation of generative AI.
Geostrategy
Baby delivered from dying mother’s womb in Gaza ‘miracle’
At just seven months pregnant, her mother, Sabreen al-Sakani, reached the emergency unit in critical condition after she was fatally...
- "It's a miracle that she was still alive, despite her difficulties in breathing," said Sahib al-Shams, a surgeon and director of the Kuwaiti hospital in Rafah.
- "The mother died 10 minutes later," Shams said, adding that the baby's father and sister had been declared dead on arrival at the hospital.