US contacts Syria’s HTS, Turkey reopens embassy, as Assad allies Iran and Russia face setbacks
The United States said Saturday it had made contact with Syria's victorious Hayat Tahrir al-Sham rebels, despite previously designating the...
Geostrategy
UNRWA warns of ‘apocalyptic’ conditions as Israeli airstrikes target aid, refugee camps, kill 58
The latest bloodshed came despite growing optimism that negotiations for a ceasefire and hostage release deal might finally succeed, with...
Business
Middle East tensions weigh on markets as oil and gold prices shoot up
London, United Kingdom -- Wall Street stocks slid on Friday despite banks beating expectations at the start of earnings season as...
- Oil prices were up more than two percent as regional tensions soared after Iran threatened reprisals over a strike in Syria.
- Gold also benefitted from its status as a haven investment, breaking the $2,400 per ounce level.
Business
JPMorgan Chase profits up 6%
The bank's CEO warns about risk of persistent inflation.
- Profits were $13.4 billion, up six percent from the year-ago period, boosted by higher net interest income.
- The bank expects the boost from higher interest rates on profits to erode or "normalize" over time.
Business
Fujifilm ups biotech plant investment
The cost of investment in North Carolina plant is $1.2 billion.
- The cash injection to ramp up output to meet growing demand for antibody drugs brings "the total investment in the facility to over $3.2 billion", the company said
- The investment is part of its strategy of enabling the firm "to construct identical large-scale production facilities" in the United States and Europe, it said
Geostrategy
Israel on alert after Iranian threat as Gaza war grinds on
Iran's supreme leader, Ayatollah Ali Khamenei, warned Wednesday that Israel "must be punished and will be punished", days after one...
- Days after Israel strengthened its air defences and paused leave for combat units, the United States also warned of the risk of an attack by Iran
- Iran is "threatening to launch a significant attack on Israel", US President Joe Biden said Wednesday, pledging "ironclad" support for its top regional ally
Business
Most equity markets fall as US inflation data dims rate cut hopes
The losses tracked a sell-off on Wall Street and saw the dollar strike a 34-year high against the yen, fueling...
- The disappointing data sent all three main indexes on Wall Street deep into the red. Asia followed suit in the morning but some bounced into positive territory as the day wore on.
- Hong Kong, Tokyo, Sydney, Singapore, Wellington, Taipei, Bangkok and Manila slipped, while Shanghai and Seoul edged up.
Business
Uniqlo upgrades net profit forecast
It now expects to make $2.1bn in the year to August.
- It also sees full-year operating profit of 450 billion yen on sales of 3.03 trillion yen, both of which would also be record figures if realized.
- Its low-cost GU clothing brand has been another key driver of the retail group's expansion, Fast Retailing added.
Geostrategy
Israel slams Irish PM for not mentioning Gaza hostages
Israel's foreign ministry denounced Ireland's new prime minister for not mentioning the hostages held by fighters in Gaza during a...
- Harris "forgot" to "mention the 133 Israeli hostages who have been rotting in Hamas tunnels for the past six months," Israel's foreign ministry said
- Israel is also furious with Ireland over its intention to recognise a Palestinian state
Geostrategy
Hamas leader’s family killed in Gaza strike as truce talks drag on
The strike came as talks in Cairo aimed at a ceasefire and a hostage release deal dragged on without signs...
- Hamas said in a statement that three of Haniyeh's sons and four of his grandchildren were killed in the air strike
- Israel confirmed the killings, saying the sons were "Hamas operatives" who were "on their way to carry out terrorist activities"
Business
ByteDance profits jump 60%
Sales also grew to nearly $120 billion from $80 billion.
- ByteDance has grown into one of the world's biggest tech firms -- best known in most countries as the creator of video app TikTok -- since its birth in a Beijing apartment 12 years
- A privately held firm, ByteDance does not release revenue and profit figures but media estimates of its earnings put it on par with some of the biggest firms in the world.
Geostrategy
WTO eyes global trade rebound in 2024 but warns of risks
Geneva, Switzerland -- The World Trade Organization said Wednesday that global trade should rebound this year from an unexpected slump in...
- In its annual trade forecast, the WTO disclosed that world trade volumes unexpectedly declined by 1.2 percent in 2023.
- WTO has also warned of worrying signs of growing protectionist behaviour by some countries, although it refuses to name them.
US contacts Syria’s HTS, Turkey reopens embassy, as Assad allies Iran and Russia face setbacks
The United States said Saturday it had made contact with Syria's victorious Hayat Tahrir al-Sham rebels, despite previously designating the...
Geostrategy
Company News
Latest News
Major tech companies turn to nuclear energy to power data centers and AI initiatives
Firms such as Amazon, Microsoft, and Google are now looking to outgun each other to tap atomic energy, while Goldman...
Science
“Sextortion” of teens puts Instagram in trouble; Meta announces new combat measures
Instagram and Facebook's parent company Meta accepts the rise of child/teen predators on Instagram and subsequently announces measures to battle...
UN report says 1.1 billion people in acute poverty
More than one billion people are living in acute poverty across the globe, a UN Development Program report said Thursday,...
Economy
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Geostrategy
Middle East crisis top-of-mind at first EU-Gulf summit in Brussels
Confirmed at the last minute, the presence of Saudi Arabia's Crown Prince among the six Gulf leaders in attendance heightened...
- The European Union is the second-largest trading partner for GCC countries but talks on a trade pact have languished for years.
- Gulf countries have repeatedly called for the creation of a Palestinian state alongside Israel, with some playing a key role in efforts to secure a ceasefire in Gaza.
Economy
Asian markets track Wall Street losses on worries over tech rally
Hong Kong, China- Asian markets mostly fell on Wednesday after a tech-led sell-off on Wall Street fueled by worries about the...
- Chip titan and market darling Nvidia sank more than four percent
- Japan's Nikkei 225 was off more than two percent
Netanyahu rejects ceasefire’ in Lebanon, Hezbollah threatens to expand the scope of its missile strikes across Israel
In a call with French President Emmanuel Macron, Netanyahu said he was "opposed to a unilateral ceasefire, which does not...
- Netanyahu's comments came as the United States ramped up pressure over Israel's conduct of the wars in Lebanon and Gaza
- Netanyahu has insisted there must be a buffer zone along Israel's border with Lebanon where there is no presence of Hezbollah fighters