Poorer countries need money before raising climate targets, says COP29 head
Copenhagen, Denmark - Developing countries should not have to set stricter targets for cutting their carbon emissions before funds are available...
Geostrategy
Google’s new AI for corner kick tactics gets Liverpool approval
PARIS, FRANCE – Liverpool football analysts have given their seal of approval to a new artificial intelligence tool from Google that...
Science
Economy
Large scale job losses if US defaults, warns government
President Joe Biden's administration again warned of "catastrophic" consequences for the US economy including huge job losses if the country...
- The nonpartisan Congressional Budget Office forecast that the country could default on its debts by June 15 if lawmakers fail to agree on a deal.
- Biden has stated he wants a "clean" hike of the debt ceiling, but Republicans are insisting any extension of the country's borrowing authority.
Business
EU’s imports in high-tech products worth $524bn in 2022
BRUSSELS, BELGIUM - The EU imported US$524 billion (€482 billion) worth of high-tech products from extra-EU countries in 2022 (+22...
- In 2022, over half of the EU’s high-tech imports from non-EU countries came from China (US$199 billion) and the United States (US$99 billion).
- The most significant category of high-tech products imported from non-EU countries was electronics-telecommunications (US$219 billion).
Business
Shoemakers for Nike, Adidas to slash thousands of jobs
One of Vietnam's largest shoe manufacturers for brands such as Nike and Adidas will cut thousands of workers at the...
- PouYuen Vietnam told local authorities it would lay off almost 6,000 workers with permanent contracts from the end of next month.
- "This will be the biggest layoff since PouYuen started its operation in Ho Chi Minh City in 1996," the state media outlet said.
Arts & Culture
Saudi football club silent on Messi as fans awaits signing
RIYADH, SAUDI ARABIA - Al-Hilal president Fahd Bin Nafel refused to comment on the possibility of signing Lionel Messi, insisting his...
- "Don't ask me about Messi," Al-Hilal President Bin Nafel told reporters when asked after club's victory in the King's Cup final in Jeddah.
- After two years at Paris Saint-Germain, Saudi Arabia offers an "enormous" financial opportunity for the 35-year-old Messi, a source said.
Geostrategy
Clashes in Gaza continue despite truce efforts
Israeli air strikes battered Gaza and militants fired rockets again as deadly fighting resumed after a night of relative calm,...
- Witnesses in Gaza reported that air strikes pounded uninhabited areas of the crowded enclave, while air raid sirens wailed in neighboring parts of Israel.
- The Fatah movement of Palestinian president Mahmud Abbas said the two men killed in the raid were members of its armed wing,
Business
Advertising executive Linda Yaccarino is new CEO of Twitter
Elon Musk has chosen top ad executive Linda Yaccarino to take the day-to-day reins of Twitter as he fights to...
- Elon Musk said he would remain in charge of design and technology at Twitter while Yaccarino would focus primarily on business operations
- Linda Yaccarino will face an uphill battle trying to attract major companies to come back to the platform.
Geostrategy
US to bolster presence in Gulf after Iran threat, says White House
The United States said it was sending reinforcements to the Gulf after what it called increasing harassment by Iran of...
- US National Security Council spokesman John Kirby said Iran has "harassed, attacked or interfered" with 15 internationally flagged merchant vessels over the past 15 years.
- "The United States will not allow foreign or regional powers to jeopardize freedom of navigation through the Middle East waterways including the Strait of Hormuz, he said.
Economy
US default would have serious repercussions, says IMF
The International Monetary Fund warned of severe consequences if the US defaults on its debt, ahead of a rapidly-approaching deadline...
- Democrats have been calling for a "clean" increase of the borrowing limit, accusing Republicans of using extreme tactics to push their political agenda.
- The lifting of the debt ceiling has historically been seen as a routine affair, given that it involves raising money to pay for spending commitments.
Science
Masdar, IRENA ink pact on tripling global renewable energy capacity by 2030
ABU DHABI, UAE - Masdar has signed an agreement with the International Renewable Energy Agency (IRENA) to cooperate on a...
- The main objective of the project is to establish a global baseline for renewable energy.
- The project will also highlight the challenges faced by different regions in meeting their renewable energy ambitions.
Business
e&, Vodafone form relationship
As per pact, e& is a cornerstone shareholder of Vodafone.
- e& and Vodafone will explore offering joint cross-border digital services to multi-national customers and public sector organizations.
- Services will include fixed and mobile connectivity, Mobile Private Networks, IoT, cybersecurity, and cloud-based services.
Poorer countries need money before raising climate targets, says COP29 head
Copenhagen, Denmark - Developing countries should not have to set stricter targets for cutting their carbon emissions before funds are available...
Geostrategy
Company News
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WTO hopes to finalize fishing agreement
GENEVA, SWITZERLAND - The head of the World Trade Organization's fisheries talks voiced optimism on Tuesday about striking an agreement on...
Geostrategy
Shell halts Red Sea shipments over attack fears, say report
WASHINGTON, US - British oil giant Shell has paused transit through the key Red Sea shipping route indefinitely, over fears of...
Geostrategy
Emirates to recruit 5,000 crew members in 2024
DUBAI, UAE – Emirates will hire 5,000 people as it awaits the arrival of its fleet of Airbus A350s.The airline is...
Business
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Geostrategy
EU worried Red Sea attacks could spark inflation
European Union economy commissioner Paolo Gentiloni warned that violence in the Red Sea sparked by Houthi attacks on shipping could...
- Gentiloni said that "what is happening in the Red Sea... is not for the moment apparently creating consequences on energy prices and inflation".
- Tensions in the Red Sea have soared after the United States and Britain carried out strikes on Houthi rebels in Yemen.
Business
Global personal computer shipments decline 14.8 percent in 2023
DUBAI, UAE - Worldwide PC shipments totaled 63.3 million units in the fourth quarter of 2023, a 0.3 percent increase...
- PC shipments reached 241.8 million units in 2023, a 14.8 percent fall from 2022.
- This is the first time that shipment volume has dipped below 250 million since 2006.
Economy
Saudi Arabia to highlight role in dealing with global challenges at WEF meet
RIYADH, SAUDI ARABIA – Minister of Industry and Mineral Resources Bandar Ibrahim Alkhorayef said that the Kingdom’s participation in the...
- Saudi Arabia’s participation in the annual meet underscores its pivotal role in the transition toward carbon neutrality.
- The Kingdom’s engagement provides an opportunity for communication with key players in the private sector globally.