European Union slaps $1.9bn fine on Apple over violation of rules
Brussels, Belgium - The EU on Monday hit Apple with a more than 1.8-billion-euro fine ($1.9 billion) for violating the bloc's...
Business
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...
Geostrategy
Geostrategy
Tunisian jurist who oversaw drafting of new constitution resigns
Some articles of the draft constitution published last Thursday in the official journal could "pave the way for a dictatorial...
- Constitution for a "new republic" is at the center of President Saied's program for rebuilding Tunisia's political system.
- The president plans to hold a referendum on the constitution on July 25, to mark one year since his power grab.
Business
Metaverse mass adoption may be years away, says Borget
The metaverse version -- where players largely do the same thing but can earn cryptocurrency rewards and buy extra kit...
- Borget is co-founder of The Sandbox, a platform that began as a game for mobile phones and PCs but is transforming itself into a virtual world
- Brands like Gucci and Adidas, financial firms Axa and HSBC, and Warner Music are among those who have chosen to set up shop in The Sandbox
Science
Horseshoe crab vital for vaccine safety
Their bright blue blood has been essential for testing the safety of biomedical products since the 1970s, when it replaced...
- Around 10 percent of the population is lost each year as their exposed undersides bake in the Sun.
- Every year around 500,000 horseshoe crabs are harvested and bled for a chemical called Limulus Amebocyte Lysate, vital for testing against a type of bacteria.
Business
Russia warns G7 price cap on oil would increase its price
Moscow said Thursday that G7 plans to cap the price of Russian oil would lead to a shortfall on world...
- Leaders of the Group of Seven wealthy nations agreed at a summit this week to work on a price cap for Russian oil.
- West has already imposed multiple layers of sanctions on Russia in response to Putin's order to send troops to Ukraine.
Geostrategy
Nuke deal revival still possible despite fruitless Qatar talks: Iran
The talks aim to bring the United States back into a 2015 deal jettisoned by the Donald Trump administration in...
- US said the EU-brokered proximity talks in the Qatari capital Doha had concluded late Wednesday with "no progress made".
- Iranian Foreign Minister Hossein Amir-Abdollahian said he believed the talks had been "positive" and a deal could still be reached.
Economy
US price increases held steady, consumer spending growth down: Report
The world's largest economy has been battered for months by a cresting inflation wave, made more painful by the surge...
- The personal consumption expenditures (PCE) price index rose 6.3 percent compared to May 2021.
- Excluding volatile food and energy prices, PCE rose 0.3 percent in the month, the same as in April.
Business
US stocks on defensive amid inflation and slowdown anxiety
Wall Street stocks were mixed early Wednesday, treading water after the prior session's pullback that came amid worries over soaring...
- After last week's rally, stocks were back on the defensive Tuesday, falling hard after downcast consumer confidence reading.
- The broad-based S&P 500 added 0.1 percent at 3,825.61, while the Nasdaq Composite Index dipped 0.1 percent to 11,173.57.
Economy
Central banks should not let inflation become a norm: BIS
Rise in prices has sharply accelerated since Russia's invasion of Ukraine in February, leading central banks to tighten their key...
- BIS, known as the central bank of central banks, said they will have to act quickly to return to low and stable inflation.
- After the shock of Covid-19, central banks initially saw the return of inflation as temporary as the economy gained pace.
Business
UN warns Internet shutdowns can have deadly consequences
Many governments refuse to acknowledge that they ordered any interference in communications, and sometimes put pressure on telecommunications companies to...
- The UN said "the dramatic real-life effects of shutdowns on the lives and human rights of millions of people are vastly underappreciated".
- The #KeepItOn coalition, which monitors shutdown episodes across the world, documented 931 internet shutdowns between 2016 and 2021.
Economy
Tunisia trade unions chief rejects IMF conditions for bailout loan
The head of Tunisia's powerful UGTT trade union confederation on Thursday rejected conditions set by the International Monetary Fund for...
- IMF's regional chief Jihad Azour has said Tunisia "needs to urgently tackle its fiscal imbalances", replace generalized subsidies with transfers targeting the poor.
- But Noureddine Taboubi, head of powerful UGTT trade union confederation, rejected "the painful options they're talking about".
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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
European Union slaps $1.9bn fine on Apple over violation of rules
Brussels, Belgium - The EU on Monday hit Apple with a more than 1.8-billion-euro fine ($1.9 billion) for violating the bloc's...
Business
Company News
Spanish footballer Veiga to play for Saudi club Al Ahli
Arts & Culture
Latest News
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...
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...
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...
Geostrategy
Most Read
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.