Europeans tell Iran will reimpose sanctions if no progress on nuclear deal: France
Top European diplomats told their Iranian counterpart on Thursday they were determined to reactivate UN sanctions if Tehran does not...
Geostrategy
Business
Musk subpoenas Twitter whistleblower in new twist to court battle
According to court documents made public on Monday, Musk's attorneys served Zatko with a subpoena Saturday demanding he share any...
- Tesla boss hopes that allegations made by the former Twitter security chief Peiter Zatko, about major security gaps and problematic practices at the firm, will bolster his case
- Peiter Zatko was also ordered to answer questions on the record for Musk lawyers on September 9
Business
SPIMACO secures $335m loan
The Saudi pharma firm intends to use the capital for growth.
- The pharma company secured the shariah-compliant financing to grow the business
- The firm obtained the facilities in the form of short-term loans to finance working capital needs, long-term loans for expansions and investments, and treasury facilities
Geostrategy
UN chief calls for restraint as Iraq descends into chaos
Hours after Baghdad’s Green Zone plunged into chaos, UN chief Antonio Guterres has called for "restraint" in Iraq, asking all...
- Tensions have soared in Iraq amid a political crisis that has left the country without a new government, prime minister or president for months
- The situation escalated sharply after Sadr's supporters stormed the government palace on Monday following their leader's announcement
Geostrategy
Shelling targets Baghdad’s Green Zone amid chaos after Sadr quits politics
Tensions have soared in Iraq amid a political crisis that has left the country without a new government, prime minister...
- The security source said Sadr's supporters opened fire at the Green Zone from the outside, adding that security forces inside were not responding
- Protests spread to other parts of the country, with Sadr followers storming government buildings in the cities of Nasiriyah and Hillah south of Baghdad
Geostrategy
Tripoli residents ‘pick up the pieces’ after deadly clashes
Calm seemed to prevail over Tripoli for a second day Monday after the clashes -- the worst violence in the...
- Shops have now reopened, local authorities have started clearing the debris and technicians have mobilised to restore power in affected areas
- As Libyans struggle with chronic instability and unending political crises, some residents expressed surprise at the intensity of the clashes in civilian areas
Geostrategy
Iran says nuclear deal ‘pointless’ without end to IAEA probe
The Iran nuclear deal with world powers still appears to be far from certain as President Raisi now says that...
- The IAEA has referred to the traces of nuclear materials as a "safeguards" issue
- The agreement between Iran and six world powers -- Britain, China, France, Germany, Russia and the United States -- gave the Islamic republic sanctions relief
Business
Uniper seeks state aid on prices
Massive hike in the gas prices hits firm's profitability.
- The Duesseldorf-based group said it had used up the nine-billion-euro line of credit agreed in the bailout as the cost for gas soared.
- One of biggest importers of Russian gas, Uniper has been squeezed as Moscow has reduced supplies to the continent in recent months
Geostrategy
Protests erupt in Iraq as Moqtada Sadr says quitting politics
Sadr and his supporters have been calling for parliament to be dissolved and for new elections, but on Saturday he...
- Sadr said "all the institutions" linked to his Sadrist movement will be closed, except the mausoleum of his father, assassinated in 1999, and other heritage facilities.
- His latest statement came two days after he said "all parties" including his own should give up government positions in order to help resolve a months-long political crisis.
Geostrategy
Chamoun granddaughter launches bid for Lebanon presidency
Tracy Chamoun, an ex-ambassador and granddaughter of late president Camille Chamoun, announced Monday she will run for the presidency of...
- Elections are expected to be held before Michel Aoun's six-year presidential mandate expires in October, but many expect delays in light of deep political divisions.
- It took Lebanon's bitterly divided political class more than two years to elect Aoun in 2016
Business
Honda, LG to invest $4.4 bn
Firms say construction of US plant to begin next year.
- Japanese auto giant Honda and South Korean battery maker LG Energy Solution announced a joint venture to invest $4.4 billion in a US electric car battery plant
- The move comes after California last week ruled that all new cars sold in America's most populous state must be zero-emission from 2035
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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
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French parliament condemns 1961 Paris killings of Algerians
Paris, France - The French parliament's lower house on Thursday approved a resolution condemning as "bloody and murderous repression" the killing...
Geostrategy
UN ‘disturbed’ as Israeli strikes on health care kills 10 in Lebanon
"The tragic events of the past 36 hours have resulted in a significant loss of life and injuries in south...
Geostrategy
What do scientists hope to learn from total solar eclipse in US?
Washington, United States -- When a rare total solar eclipse sweeps across North America on April 8, scientists will be able...
Science
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Business
UBS reports lower net profit in 2023
The Swiss government pushed it to buy Credit Suisse last year.
- UBS had reported a $29 billion annual profit in February due to the difference between the value of the assets obtained in the Credit Suisse dea
- In its annual results published on Thursday, UBS said the fair-value estimate has been adjusted by $1.2 billion, decreasing the "negative goodwill" to $27.7 billion
Geostrategy
US shoots down four Houthi drones in Red Sea
In November, the Houthis launched a campaign of drone and missile strikes against vessels in the Red Sea, an area...
- US Central Command that its forces had "engaged and destroyed four long-range unmanned aerial systems" at around 2 am Sanaa time adding there were no injuries
- Actions against Houthis are taken to protect freedom of navigation and make international waters safer and more secure for US Navy and merchant vessels," CENTCOM added
Business
Crypto fraudster Bankman-Fried faces sentencing
Calling Bankman-Fried's seven-count conviction reflective of the defendant's "unmatched greed and hubris," the government's sentencing request argues for significant jail...
- US prosecutors are seeking a prison term of 40-50 years after a jury found Bankman-Fried guilty
- His attorneys depicted their client as a diligent young man motivated by philanthropy