Firms lag as AI-driven fraud surges: Study
The report, published by the Association of Certified Fraud Examiners and analytics firm SAS, highlights widening gaps between rapidly evolving...
Business
Middle East conflict: Trade tensions rise as oil jumps and tariffs shake markets
Several ports suspended operations in the Middle East after drone strikes. DP World said operations at Jebel Ali port in...
Economy
Economy
China’s premier tells EU leaders ‘we can’t afford’ massive industrial subsidies
Chinese Premier Li Qiang dismissed EU fears over Beijing's allegedly excessive subsidies to its industry, telling the bloc's leaders "we...
- Speaking during a roundtable with EU chief Ursula von der Leyen on Thursday, Li insisted that "China is by no means doing what some call a subsidies policy or fiscal subsidies."
- "We would not be stupid enough to use the fiscal funds accumulated through the government and the hard work of our people to sell our products to foreign consumers," Li added
Geostrategy
Trump admin unveils AI strategy to maintain US dominance
The 25-page "America's AI Action Plan" outlines three aims: accelerating innovation, building infrastructure, and leading internationally on AI. Overall, the...
- According to US media reports, Trump was also to announce a series of executive orders to give key components of the plan additional legal weight.
- AI "challenges America to build vastly greater energy generation than we have today," the plan said.
Economy
Trump announces ‘massive’ Japan trade deal including 15% tariff
US President Donald Trump announced Tuesday a "massive" trade deal with Japan, cutting a threatened 25-percent tariff to 15 percent...
- Trump has vowed to hit dozens of countries with punitive tariffs if they don't strike a deal with the United States by next month
- So far, Trump has only announced pacts with Japan, Britain, Vietnam, the Philippines and Indonesia, while talks continue with other trade partners
Geostrategy
91% of new renewable projects now cheaper than fossil fuels alternatives
Abu Dhabi, UAE -- Renewables maintain their cost leadership in global power markets, IRENA’s new report on Renewable Power Generation...
- IRENA’s new report confirms renewables maintained their price advantage over fossil fuels, with cost declines driven by technological innovation.
- In 2024, solar photovoltaics (PV) were, on average, 41 percent cheaper than the lowest-cost fossil fuel alternatives, while onshore wind projects were 53 percent cheaper.
Geostrategy
Global gas flaring surges again, costs $63bn in lost energy: WB
Washington, UAE -- Global gas flaring surged for a second year in a row, wasting about $63 billion in lost...
- Flaring, the practice of burning natural gas during oil extraction, reached 151 billion cubic meters (bcm) in 2024, up 3 bcm from the previous year.
- While some countries have reduced flaring, the top nine largest-flaring countries continue to account for three-quarters of all flaring.
Economy
Turkey parliament passes contentious mining legislation
Turkey's parliament on Saturday passed a controversial bill that opens certain agricultural lands including olive groves to mining activities, local...
- The bill, part of a broader package proposed by President Recep Tayyip Erdogan's ruling AKP party, sparked protests from opposition parties and environmental groups
- Farmers from across Turkey have gathered outside parliament over the past two weeks, urging the government to withdraw the draft, with some starting a hunger strike this week
Geostrategy
G20 nations agree central bank independence ‘crucial’
The statement came after months of escalating attacks by US President Donald Trump on Federal Reserve boss Jerome Powell. The...
- This week he suggested he could be dismissed for "fraud" over his handling of a renovation project at the Federal Reserve headquarters.
- The G20 is made up of 19 nations and two regional organizations and its members account for more than 80 percent of the world's economic output.
Business
Global markets rise as Trump weighs future of Fed boss
US indices were near record highs two hours into the Wall Street session with all eyes on an incoming earnings...
- The rises came on the back of a better-than-expected US retail sales report and a round of mostly solid corporate earnings.
- Market observers have been carefully watching reports that US President Donald Trump, fresh from unveiling new tariff threats, could sack Powell.
Investigation
AI-powered ‘nudify’ apps fuel deadly wave of digital blackmail
Washington, United States - After a Kentucky teenager died by suicide this year, his parents discovered he had received threatening...
- The tragedy underscores how so-called sextortion scams targeting children are growing around the world, particularly with the rapid proliferation of "nudify" apps
- Elijah Heacock, 16, was just one of thousands of American minors targeted by such digital blackmail, which has spurred calls for more action from tech platforms
Research
Trump to unveil investments to power AI boom
Washington, United States - US President Donald Trump heads to Pennsylvania on Tuesday to announce energy and infrastructure deals intended...
- Trump will make the announcement at the inaugural Pennsylvania Energy and Innovation Summit at Carnegie Mellon University
- The tech world has fully embraced generative AI as the next wave of technology, but fears are growing that its massive electricity needs cannot be met by current infrastructure
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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
Firms lag as AI-driven fraud surges: Study
The report, published by the Association of Certified Fraud Examiners and analytics firm SAS, highlights widening gaps between rapidly evolving...
Business
Company News
Fake AI videos have a new generation loving 1980s life
Arts & Culture
Latest News
Syria reveals new post-Assad banknotes
Syrian leader Ahmed al-Sharaa unveiled on Monday new banknotes replacing those showing ousted ruler Bashar al-Assad and his family, hoping...
Economy
Prone to conflict, displacement, climate shocks, investing in cities is a strategy for global stability
Addressing fragility in cities is, therefore, not only a social imperative; it is also a crucial economic consideration. It is...
Economy
China says to launch digital currency action plan
Beijing, China -- China will on January 1 launch an "action plan" for boosting management and operations of its digital...
Economy
Most Read
Economy
Saudi Arabia’s high-stakes race toward Vision 2030: Diversifying amid global uncertainty
Moving forward, lower oil revenues will continue to pose challenges to the Saudi economy and its overall targets. Earlier this...
- As non-oil growth accelerates and private investment rises, the Kingdom faces the challenge of sustaining momentum without overstretching its fiscal limits
- Vision 2030 is reshaping the Kingdom’s economy at unprecedented speed, but sustaining growth amid lower oil revenues will test policymakers
Economy
Syria to start replacing currency from Jan 1: central bank chief
Syria's central bank chief said Thursday that the country's currency would start to be replaced with a revamped version from...
- Central bank chief Abdul Qadir al-Hasriya said that "January 1, 2026, is the start date for the replacement process" for the currency
- Hasriya said the move comes at a "pivotal national juncture that reflects the beginning of a new economic and monetary era"
Economy
“New Suez Canal on rails”: Egypt high-speed trains to connect Red Sea, Mediterranean
Workers have started laying tracks in the desert east of Cairo for Egypt's first high-speed train, which will link the...
- The Green Line, as it is known, is the latest of a long list of megaprojects undertaken by El-Sisi's government in the past decade
- The Green Line will run across the country's north, from Ain Sokhna on the Red Sea to Marsa Matrouh on the Mediterranean