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Global

Google to invest $6.4bn

The investment is its biggest-ever in Germany.

Pfizer poised to buy Metsera

The pharma giant improved its offer to $10bn.

Ozempic maker lowers outlook

The company posted tepid Q3 results.

Kimberly-Clark to buy Kenvue

The deal is valued at $48.7 billion.

BYD Q3 profit down 33%

This was a 33% year-on-year decrease.

Pulitzer Prizes honor coverage of war in Gaza

New York, United States - The war in Gaza featured prominently in Monday's Pulitzer Prizes, which included a special citation for...

Electric cars credited with lower CO2 emissions in US neighborhoods

LOS ANGELES, US – The booming use of electric vehicles in parts of California is reducing CO2 emissions in those areas,...

Business
Business

PIF announces pricing of inaugural $3.5bn global sukuk issue

RIYADH, SAUDI ARABIA - The Public Investment Fund (PIF) on Thursday successfully priced its first dollar-denominated Shariah-compliant trust certificates (sukuk)....
  • The issuance will be listed on the London Stock Exchange’s International Securities Market (ISM).
  • The sukuk issuance was more than seven times oversubscribed, with orders exceeding $25 billion,
Business

Emirati investments in Turkey reach $5.6 billion in 2022

ABU DHABI, UAE – Ahmet Burak Daglioglu, Head of the Investment Office of the Turkish Presidency, said that the cumulative...
  • UAE currently stands as Turkey's 13th largest trade partner for exports and the 15th largest for imports.
  • From 2014 to 2022, the total foreign direct investment from Turkey to the UAE amounted to approximately $1.1 billion
Market Report

Markets fall as Biden set for Middle East diplomacy drive

US and European stock markets mostly fell and oil prices rose as US President Joe Biden prepared for a trip...
  • Wall Street opened in the red, with the tech-heavy Nasdaq shedding more than one percent, while Frankfurt and Paris fell 0.6 percent afternoon deal.
  • "Understandably, not many people are in the mood to put their hard-earned cash at risk in these uncertain economic times," said an expert.
Geostrategy

World leaders try to contain Israel-Hamas war

As Israel prepares for a ground offensive into the Gaza Strip, the international community has mobilized to try to protect...
  • Among the most active international players is the United States, whose Secretary of State Antony Blinken started a tour of six Arab countries.
  • The US, like its European allies, is concerned to avoid the opening of a second front with the Iran-backed Hezbollah militia in Lebanon.
Geostrategy

Egypt, Israel to allow US citizens to leave Gaza via Rafah crossing

Riyadh, Saudi Arabia - Egypt and Israel have agreed to let US citizens leave the Gaza Strip through the Rafah crossing...
  • The official said that 500-600 US citizens in the Gaza Strip had reached out for information on leaving the hemmed in territory.
  • US officials earlier had voiced interest in letting people flee to Egypt but backtracked after seeing limited support in the region.
Geostrategy

IMF agrees on rise in funding, extra Africa board seat

The IMF announced member nations agreed to increase their contributions to the global lender and give sub-Saharan Africa a third...
  • The quotas, which are based on the size of a country's economy, determine how much funding a nation should provide to the IMF.
  • IMF chief Kristalina Georgieva and World Bank President Ajay Banga used this week's meetings to urge members to step up funding.

Iran says US ‘can not renege’ on deal to transfer $6bn via Qatar

Tehran, Iran-- Iran said the United States "can not renege" on an agreement to transfer $6 billion in frozen funds through...
  • Tehran has come under intense scrutiny since Hamas stormed across Israel's border.
  • Iran has insisted it was not involved, but celebrated the Hamas attack as a "success".
Economy

Disasters cause crop losses worth $3.8trn over 30 years, says FAO

PARIS, FRANCE - Natural and man-made disasters have caused $3.8 trillion in crop and livestock loses over 30 years, the UN's...
  • Floods, droughts, insect infestations, storms, disease and war caused about $123 billion per year in lost food production between 1991 and 2021.
  • This loss is the equivalent of five percent of total production or enough to feed up to half a billion people per year, the FAO said in a report.
Business

Delta posts Q3 profits of $1.1b  

The company’s revenues rose 11 percent to $15.5 billion.
  • Delta and other US carriers have pointed to pent-up travel demand as a driver of strong results in recent quarters.
  • The company described overall demand as "strong," domestic demand as "steady" and international strength as "extending through fall."
Geostrategy

Countries evacuate citizens as Israel-Hamas war rages

Thousands of foreigners are stuck in Israel and across the Palestinian territories, where a full-blown war has erupted since Hamas...
  • Argentina, the Latin American country with the largest Jewish population, on Tuesday started evacuating over 1,200 of its citizens from Israel.
  • "Around 4,500 German citizens" have registered on a list seeking help to return, a foreign ministry source said.

Pulitzer Prizes honor coverage of war in Gaza

New York, United States - The war in Gaza featured prominently in Monday's Pulitzer Prizes, which included a special citation for...

Company News

Latest News

Western countries shelve plans to censure Iran at UN nuclear meet

Western powers will not censure Iran over its lack of cooperation with the UN nuclear watchdog at its Board of...
Geostrategy

UNRWA head seeks General Assembly support after backlash

The head of the UNRWA is set to defend his organization's work at the General Assembly, after crippling backlash over...
Geostrategy

Dubai International Boat Show helps in marine business

DUBAI, UAE – Dubai International Boat Show has wrapped up following a hugely successful week of high-value boat sales, important...
Business
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Geostrategy

Hamas team heads to Cairo for new truce talks

Palestinian Territories - A Hamas delegation was expected to fly to Cairo on Saturday for talks on a truce in...
  • The source said the delegation would submit Hamas's "official answer" to a proposal thrashed out with Israeli negotiators in Paris late last month.
  • A Hamas source told AFP that under the proposal, a truce would last for six weeks, with Hamas releasing 42 hostages in exchange for Palestinian prisoners.
Business

Apple’s changes contradicts European rules, 34 firms complain

Brussels, Belgium - Changes Apple is making to its services in the European Union "make a mockery" of new antitrust rules...
  • Companies have expressed doubts about how much Apple's changes would ultimately broaden consumer choice and digital competition.
  • Apple in January announced it was modifying how its iOS operating system, Safari browser and App Store operate in the 27-nation EU.
Business

Total value of Saudi Arabia’s export of dates reaches US$389m in 2023

RIYADH, SAUDI ARABIA - According to data released by the National Center for Palms and Dates (NCPD), the value of...
  • By the end of 2023, the number of countries importing Saudi Arabian dates had reached 119.
  • The total value of date and date-byproduct exports increased by 152.5 percent since 2016.