EU imports US$120.5bn worth of energy products in Q4 2023
BRUSSELS, BELGIUM – In the fourth quarter of 2023, the EU imported US$120.5 billion (€111.3 billion) worth of energy products...
Business
US, Israel hold talks as Gaza truce plan fails at UN
Israel plans to send troops into Gaza's Rafah even without US support, Prime Minister Benjamin Netanyahu told Antony Blinken, as...
Geostrategy
Business
Tech’s carbon footprint: can AI revolutionize responsibly?
The planet's 8,000 or so data centers are the foundation of our online existence, and will grow ever further with...
- In 2019, researchers trained several large language models, and found that training a single AI model can emit the CO2 emission equivalent of five cars over their lifetimes.
- Between 2010 and 2018, global data center energy use rose by only 6 percent, despite a 550 percent increase in workloads and computing instances, according to the IEA.
Geostrategy
Grain deal in focus as Putin, Erdogan all set to meet
MOSCOW, RUSSIA - Russian President Vladimir Putin will host his Turkish counterpart Recep Tayyip Erdogan on Monday, the Kremlin said, amid...
- Russia pulled out from the UN-backed grain agreement that Turkey helped broker in July, effectively revoking safe navigation for civilian ships sailing through the Black Sea.
- Turkey's foreign minister Hakan Fidan said on a visit to Moscow on Thursday that reviving the deal to ship Ukrainian grain across the Black Sea was "critical" for food security.
Geostrategy
Iran’s non-oil export to ECO countries from Mar 21 to July 22 2023 reaches $3.6bn
TEHRAN, IRAN – Iran’s export of non-oil products to the Economic Cooperation Organization (ECO) member states in the first four...
- In the four-month period, Iran exported 8.161 million tons of non-oil commodities to ECO member states.
- In the same period, Iran imported 1.394 million tons of goods, valued at $2.445 billion, from the ECO states.
Business
Bitay to expand in UAE’s burgeoning crypto market
DUBAI, UAE – Bitay, a cryptocurrency platform from Turkey, announced its expansion into the UAE's burgeoning crypto market.The UAE, which...
- Kickstarted by a government research grant, Bitay has been operational in Turkey since 2018 and expanded its services globally in 2021.
- The platform is licensed as a Money Services Business (MSB) in 16 US states and offers services in multiple countries.
Business
Lavoie buys e-bike firm VanMoof
The cost of the acquisition has not been specified.
- VanMoof's bikes, which are sold in 20 countries, are known for their sleek, simplistic design with a battery hidden in the frame.
- VanMoof had raised $128 million in September 2021 in an effort to expand as it rode a boom in the e-bike sector.
Geostrategy
Chinese diplomat, Arab Parliament speaker discuss Middle East
BEIJING, CHINA – The director of China’s Office of the Central Commission for Foreign Affairs met with the speaker of...
- China said the future of the Middle East should be in the hands of regional countries and people.
- The diplomat said China supports an early, fair and reasonable settlement of the Palestinian issue.
Geostrategy
EU okays updated Pfizer and BioNTech’s anti-Covid vaccine
Adults and children over five require a single shot "irrespective of their Covid-19 vaccination history" while younger children may get...
- The European Medicines Agency said it "has recommended authorizing an adapted Comirnaty vaccine targeting the Omicron XBB.1.5 subvariant".
- Known as Comirnaty Omicron XBB.1.5, the mRNA vaccine is to be used to prevent Covid-19 in adults and children from six months.
Business
Iran’s non-oil exports reach US$19.3bn in March to July 2023
TEHRAN, IRAN - Some 56 million tons of non-oil goods, valued at US$19.3 billion, were exported in the first five...
- Also 14.4 million tons of non-oil goods, valued at US$24.2 billion were imported into the country from March 21, 2023 to July 22, 2023.
- In this period, China, Iraq, the United Arab Emirates (UAE), Turkey and India were Iran’s main export markets respectively.
Geostrategy
There are no frozen assets abroad, says Iranian President
TEHRAN, IRAN – Iran President Ebrahim Raisi on Tuesday said that the country’s money is only blocked in South Korea...
- Iran has forged strong relations with Islamic and other like-minded countries.
- The country is keen on membership in regional and extra-regional alliances.
Arts & Culture
NEOM to set up education, research and innovation center
TABUK, SAUDI ARABIA – NEOM has announced plans to establish a world-class education, research and innovation (ERI) center, following last...
- NEOM’s ERI center will enable access to a world-class education, research and innovation ecosystem at any stage of the life of a learner.
- The curricula deployed across NEOM’s ERI pillars will prepare a digitally fluent workforce, equipping students with real-life skill sets.
EU imports US$120.5bn worth of energy products in Q4 2023
BRUSSELS, BELGIUM – In the fourth quarter of 2023, the EU imported US$120.5 billion (€111.3 billion) worth of energy products...
Business
Company News
UPS says will cut 12,000 jobs
Business
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Saudi Arabia’s Madinah, KAEC, Al-Ahsa join UNESCO global network of learning cities
RIYADH, SAUDI ARABIA - The United Nations Educational, Scientific and Cultural Organization has announced that the cities of Madinah, King...
Geostrategy
Energy transition led Saudi Arabia to halt oil expansion, says official
RIYADH, SAUDI ARABIA – The Kingdom's surprise decision to halt a planned expansion of its oil production capacity reflects ambitions to...
Business
Red Sea issue puts Yemen peace process on hold
DUBAI, UAE- As Houthi attacks roil the Red Sea and Western air raids target the rebels, moves to end Yemen's long-running...
Geostrategy
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Geostrategy
Saudi Arabia sends $250m to bolster Yemeni government
Saudi Arabia said it had disbursed $250 million in aid to the internationally-recognized government in Yemen. The money follows an...
- The Yemeni government relocated to Aden, a port city on the southern coast, after the Iran-backed Houthis seized the capital Sanaa in 2014.
- In 2015 Saudi Arabia mobilized an international coalition intended to oust the Houthis.
Arts & Culture
US teens make efforts for Jewish-Muslim dialogue in New Jersey suburb
TEANECK, US - They are only teenagers, but a pair of New Jersey high school students -- one Jewish and one...
- The unexpected success of that first meeting led to a second, larger one, and the girls since have enjoyed support.
- Despite the strong turnout, the girls were not overly optimistic about the outcome of the meeting.
Geostrategy
Hamas, Saudi warn of calamity if Israeli troops attack Rafah
Prime Minister Benjamin Netanyahu this week said he had ordered troops to prepare to go in to the city, crowded...
- Hamas said any military action would have catastrophic repercussion that "may lead to tens of thousands of martyrs and injured if Rafah... is invaded".
- Saudi Arabia said that Israel's planned army operation in overcrowded Rafah would cause a "humanitarian catastrophe".