Ukraine hails ‘real progress’ in Zelensky’s talks with US envoys to end the war with Russia
Kyiv's negotiator Rustem Umerov wrote on social media that the marathon diplomacy in the German capital had been "constructive and...
Geostrategy
China’s smaller manufacturers look to catch the automation wave
Yancheng, China -- In a light-filled workshop in eastern China, a robotic arm moved a partially assembled autonomous vehicle as workers...
Geostrategy
Business
Samsung plans $310 bn investment to power AI expansion
Seoul, South Korea -- South Korean conglomerate Samsung unveiled on Sunday a plan to invest $310 billion over the next...
- The business group's flagship Samsung Electronics is already one of the world's top memory-chip makers, providing crucial components for the AI industry.
- South Korea is also home to SK hynix, another key player in the global semiconductor market.
Geostrategy
Israel says Gazans who landed in S. Africa unexpectedly had third-country approval
Israeli authorities said on Saturday that 153 Palestinians who turned up unexpectedly in South Africa, triggering questions from its president,...
- After landing in Johannesburg on Thursday, the Gazans were kept aboard their plane for 12 hours because they did not have departure stamps from Israel in their passports
- The home affairs ministry finally allowed the passengers to disembark when an NGO said it would provide them with accommodation
Business
Google announces $40 billion Texas investment to expand AI infrastructure
Google announced Friday a major $40 billion investment in Texas through 2027 to build new cloud computing and artificial intelligence...
- The investment will fund new data center campuses in northern Texas, adding to Google's presence in the Lone Star State that spans more than 15 years, the company said
- "Our latest investment in Texas is designed to not only support Texas' workforce, but to ensure the US retains the technical backbone to lead the world in AI," Google said
Business
EU approves ADNOC’s purchase of Germany’s Covestro
Brussels, Belgium -- The European Commission on Friday greenlit the takeover of German chemical firm Covestro by UAE state oil...
- Plastics maker Covestro accepted a bid from the Abu Dhabi National Oil Company in October, valuing the company at 12 billion euros ($14 billion).
- ADNOC has promised to inject around 1.2 billion euros into the chemicals firm through the issuance of new shares under the terms of the takeover.
Geostrategy
Saudi prince, eyeing defense pledge, to meet Trump after long US absence
Saudi Arabia is unlikely to agree to normalization with Israel at this stage, with Prince Mohammed's priority set for firmer...
- A US-Saudi investment forum spotlighting energy and artificial intelligence will take place in Washington during the prince's visit, the event's website says.
- As Riyadh embarks on ambitious tourist and entertainment projects to diversify its oil-reliant economy, it has sought to de-escalate regional tensions -- including with Iran.
Economy
Global CO2 emissions to hit record high in 2025, making 1.5°C target nearly impossible
Global fossil fuel emissions are set to hit a new high in 2025, according to research published Thursday that also...
- The annual Global Carbon Budget report looks at humanity's emissions of planet-heating CO2 from burning hydrocarbons, cement production and land use
- The failure to cut planet-heating emissions is overshadowing the COP30 in the rainforest city of Belem -- the conference taking place this week without the presence of the US
Geostrategy
Rubio says US ‘optimistic’ for UN resolution on Gaza, backing an international force
US Secretary of State said the United States was speaking with different countries on ways to "balance their interests here,...
- Rubio said the United States was speaking with different countries on ways to "balance their interests here, and how that's structured beyond just the security force."
- The United States last week started circulating the draft resolution that would follow up on a ceasefire in the two-year war championed by President Donald Trump
Geostrategy
Google denies removing W.Sahara border for Morocco users
The dotted lines illustrating the border between Western Sahara and Morocco, indicating the former's disputed territory status, have never been...
- Western Sahara is a vast mineral-rich former Spanish colony that is largely controlled by Morocco but has been claimed for decades by the pro-independence Polisario Front
- The United Nations Security Council had previously urged Morocco, the Polisario Front, Algeria and Mauritania to resume talks to reach a broad agreement
Geostrategy
Macron warns any planned West Bank annexation a ‘red line,’ to provoke a European reaction
He spoke as Palestinian president Mahmud Abbas visited Paris one month into a fragile truce between Hamas and Israel, following...
- He spoke as Palestinian president Mahmud Abbas visited Paris one month into a fragile truce between Hamas and Israel, following two years of war
- Macron and Abbas announced the creation of a joint committee "for the consolidation of the state of Palestine", the French leader said
Business
Google to invest $6.4bn
The investment is its biggest-ever in Germany.
- Google's plans include a new data center and expansion of an existing center in the western state of Hesse, providing computing power for artificial intelligence.
- It also plans to expand its offices in Berlin, Frankfurt and Munich, and outlined various projects aimed at reducing its greenhouse gas emissions.
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
Ukraine hails ‘real progress’ in Zelensky’s talks with US envoys to end the war with Russia
Kyiv's negotiator Rustem Umerov wrote on social media that the marathon diplomacy in the German capital had been "constructive and...
Geostrategy
Company News
Latest News
In Data Center Alley, AI sows building boom, doubts
Ashburn, United States -- As planes make their final approach to Washington DC's Dulles Airport, just below lies Ashburn, a...
Business
US private sector lost 32,000 jobs last month in surprise drop
President Donald Trump has been touting the economy's health, and forecasts had incorrectly predicted the monthly data would show a...
Geostrategy
OpenAI declares ChatGPT ‘code red’ over stiff competition: report
Washington, United States -- OpenAI CEO Sam Altman has declared a company-wide "code red" as its ChatGPT technology faces stiff...
Business
Most Read
Economy
Saudi powers forward with deficit spending to fund reforms
The Arab world's largest economy is overseeing a major push to slash its dependence on oil revenues, with officials pouring...
- The state's general budget for 2026 would have total expenditures of 1.313 trillion riyals (350.1 billion dollars).
- The projected deficit amounts to 3.3 percent of GDP, which is lower than the deficit of 245 billion riyals estimated for 2025.
Economy
Saudi powers forward with deficit spending to fund diversification of its oil-dependent economy
Saudi Arabia greenlit its 2026 budget Tuesday, projecting a deficit of 165 billion riyals ($44 billion) as the kingdom presses...
- The Arab world's largest economy is overseeing a major push to slash its dependence on oil revenues, with officials pouring billions into projects to attract investment and tourism
- The budget figures will be keenly watched by energy industry experts, with the hopes of gleaning insights into where Saudi Arabia expects oil revenues to head in the near future
Geostrategy
If Europe wants war with Russia, ‘we are ready,’ says Putin as he meets US envoys over Ukraine deal
Washington has presented a 28-point draft to end the conflict, later amended after criticism from Kyiv and Europe, which viewed...
- The comments came as US envoy Steve Witkoff and President Donald Trump's son-in-law Jared Kushner were in Moscow for high-stakes talks on ending the nearly four-year war
- "They have no peaceful agenda, they are on the side of war," he added, repeating his claim that European leaders were hindering US attempts to broker peace in Ukraine