Stocks mostly rise, oil falls as Trump fans Ukraine peace hopes
London, United Kingdom -- Major stock markets mostly rallied and oil prices retreated Thursday on hopes for an end to the...Business Economy
Altman rejects Musk’s US$97.4 billion bid to buy OpenAI, as feud continues
After receiving backing from his OpenAI board, Sam Altman informed an Elon Musk-led group of investors that sought to buy...Business
Hosts Qatar embrace ‘positive pressure’ of Asian Cup title defense
Doha, Qatar -- Qatar coach Tintin Marquez said Friday they relish the "positive pressure" of trying to retain their Asian Cup...The hosts and holders won all three of their games in the group phase without conceding a goal and then defeated Palestine 2-1 in the last 16.
Qatar face Uzbekistan on Saturday in front of what is expected to be a packed crowd at the 68,000-capacity Al Bayt Stadium outside Doha.
Deutsche Bank to slash 3,500 jobs
The bank said it would buy back shares and pay dividends.The news came as the German bank posted a 30 percent slide in fourth-quarter profit that still beat analyst expectations
The dividends and the share buyback will cost the bank nearly $1.7bn and will take place during the first half of the year
Naver profit jumps 129% in Q4
The company said it posted a net profit of US$227.4 million.The firm, in 2022, paid nearly $1.2 billion for Poshmark, a US online marketplace for used clothing
The tech firm's content business was driven by the growth of webtoons -- Internet-based comic strips
Saudi Crown Prince announces new company to boost Kingdom’s global tech status
Riyadh, Saudi Arabia — Saudi Crown Prince Mohammed bin Salman on Thursday launched a new company called Alat geared to...The company, chaired by the Crown Prince, aims to enhance the capabilities of the Saudi technology sector
It aims to create 39,000 direct jobs and achieve a direct non-oil GDP contribution of $9.3 billion
GCC banks to maintain resilience in 2024, says S&P Global
Abu Dhabi, UAE--Despite geopolitical uncertainties and potential economic headwinds, S&P Global expects GCC banks to maintain their well-capitalised, profitable, and...The UAE and Saudi banking systems are expected to lead the region and credit growth and profitability will remain robust
The ratings agency however warned that potential risks, including geopolitical tensions and real estate exposure, remain
Apple logs US$119.6bn in sales
But its sales in China dropped during October to December.The company's profits came in at $33.9 billion during the quarter with diluted earnings per share above expectations at $2.18.
Its net sales in Greater China -- including mainland China, Hong Kong, and Taiwan -- declined from a year ago to $20.8 billion
US stocks rebound from sell-off on Fed disappointment
New York, United States - Wall Street stocks rose early Thursday, rebounding from the prior session's pullback as markets awaited more...Major indices had tumbled on Wednesday after Federal Reserve Chair Jerome Powell dampened expectations for an imminent cut in interest rates.
Adam Sarhan of 50 Park Investments said the market is recovering from the "knee jerk" selloff after Wednesday's Fed meeting.
US to sell drones worth $4bn to India to bolster its defenses against China
The United States approved a $4 billion sale of state-of-the-art drones to India, offering a new edge to the growing...Indian officials had discussed the drones during a state visit by Prime Minister Narendra Modi last year.
After months of discussion, the State Department said it had informed Congress of the sale..
Number of millionaires in BRICS likely to rise by 85 percent in 10 years, says report
DUBAI, UAE - The total investable wealth currently held in the BRICS bloc amounts to US$45 trillion and its millionaire...There are currently 1.6 million individuals with investable assets of over US$1 million in the leading emerging economies.
The UAE’s millionaire population has shot up since 2013, by 77 percent, and is now home to 116,500 millionaires
OPEC+ panel reaffirms cartel’s current output reduction strategy
In an effort to shore up prices, the OPEC+ oil alliance of 23 nations has implemented supply cuts of more...In a statement following a meeting via videoconference, the Joint Ministerial Monitoring Committee (JMMC) of OPEC+ stopped short of making any recommendations on its output policy.
However, the panel said it "reviewed the crude oil production data for the months of November and December 2023", noting the "high conformity" among participating nations.
