Stock markets diverge before Nvidia results, Federal Reserve minutes
Stock markets diverged as traders awaited earnings from US tech darling Nvidia, in addition to minutes from the Federal Reserve...
Market Report
KEZAD Group, Al Ghurair Group’s APT ink lease pact to set up manufacturing facility
ABU DHABI, UAE – Khalifa Economic Zones Abu Dhabi (KEZAD Group) and Al Ghurair Group subsidiary Automotive Precision Technology (APT)...
Business
Geostrategy
Russia steps up Ukraine fight as EU braces for gas paucity
The United States has been warning that Russia is preparing to formally annex regions in Ukraine’s east, while the European...
- Russia's Foreign Minister Sergei Lavrov has meanwhile sparked outrage by alleging Adolf Hitler may have ‘had Jewish blood’
- This has invoked a conspiracy theory in a bid to discredit Ukraine's President Volodymyr Zelensky — who is of Jewish ancestry
Economy
Pakistan and Saudi Arabia to discuss extending term of $3 bn loan
The latest sign of support follows a visit to Saudi Arabia by new Prime Minister Shahbaz Sharif, who has inherited...
- In recent years, Saudi has provided Pakistan with $4.2 bn of support in the form of the $3 bn loan deposited with the central bank as well as $1.2 bn in deferred oil payments.
- Saudi Arabia also pledged "to further enhance the financing of petroleum products" at a time when the South Asian country is suffering from frequent power cuts.
Geostrategy
Two Iranian students jailed for 16 years on sabotage charges
They received 10-year terms for "destruction of public installations", five years for plotting against national security and "cooperation with hostile...
- Local media named them as Ali Younessi and Amir-Hossein Moradi of Tehran's Sharif University of Technology.
- In May 2020, the judiciary said the pair were accused of having been in contact with "counter-revolutionary groups".
Business
Alwaleed blinks as Musk buys Twitter
Prince Alwaleed is one of the wealthiest businessmen in the Middle East, but Elon Musk is the richest person in...
- Last week, KHC Chairman and Twitter shareholder Prince Alwaleed rejected Elon Musk's bid to acquire Twitter Inc for $54.20 per share
- Alwaleed had stated that the deal proposed by Musk did not ‘come close to the intrinsic value’ of the popular social media platform
Geostrategy
Russia warns of WW3 as West plans more arms for Ukraine
For months, Ukrainian President Volodymyr Zelensky has been asking Western allies for heavy weapons, vowing that his forces could turn...
- Russia’s invasion of Ukraine has triggered an outburst of support from Western nations that has seen weapons pour into the country
- But Western powers have been reluctant to deepen their involvement, for fear of sparking a conflict against nuclear-armed Russia
Geostrategy
France’s Macron wins new term
Macron is the first French president to win a second term for two decades, but Le Pen's result also marks...
- Macron is the first French president to win a second term for two decades, but Le Pen's result also marks the closest the far-right has ever come to taking power in France
- The 44-year-old president faces a litany of challenges in his second term, starting with parliamentary elections in June, where keeping a majority will be critical
UNRWA may end services to refugees due to funding crunch
United Nations Relief and Works Agency for Palestine Refugees (UNRWA) is facing a financial implosion for the last 10 years,...
- The Commissioner-General of UNRWA, Philippe Lazzarini said this in a message to Palestinian refugees
- He explained that the annual shortfalls to the core program budget have regularly neared $100 million
Business
Saudi Arabia to host Global Cybersecurity Forum in November
The National Cybersecurity Authority is organizing the annual event under the theme Rethinking the Global Cyber Order.
- Over two days, experts from around the world are expected to gather to address the most pressing issues facing the cyberspace
- These include the evolving international order in cyberspace, the state of cybersecurity threats, and the solutions to threats
Geostrategy
UN chief to visit Turkey before trips to Russia and Ukraine
Turkey has been trying to negotiate an end to the conflict between the two countries, hosting meetings between Russian and...
- Antonio Guterres’ trip comes as the Russia-Ukraine war enters its third month, with fierce battles continuing in Ukraine’s east
- Scores of civilians and Ukrainian soldiers are said to be trapped in the besieged port city of Mariupol, with evacuation interrupted
Geostrategy
Parched Iraq’s water resources ‘down 50 percent’
Oil-rich Iraq, despite its mighty Tigris and Euphrates rivers, is classified as one of the world's five countries most vulnerable...
- Iraq which shares the Tigris and Euphrates with Turkey and Syria often protests that their upstream construction of dams has endangered its water resources.
- World has Bank warned that Iraq, a country of 41 million people, could suffer a 20-percent decline in drinking water resources by 2050 due to climate change.
Stock markets diverge before Nvidia results, Federal Reserve minutes
Stock markets diverged as traders awaited earnings from US tech darling Nvidia, in addition to minutes from the Federal Reserve...
Market Report
Company News
Tabreed H1 23 net profit $105m
Business
Nissan Q1 net profit $750m
Business
Latest News
Israeli, Lebanese clash with tear gas on Golan border
JERUSALEM - Israeli and Lebanese troops exchanged tear gas fire on Saturday on a disputed and highly militarised section of...
Geostrategy
Chinese President Xi Jinping declares biggest-ever Asian Games open
Chinese President Xi Jinping opened the 19th Asian Games in a colourful ceremony in Hangzhou, launching a two-week sporting extravaganza...
Arts & Culture
World must understand AI, curb its risk, says UK Deputy PM
NEW YORK, US - The United Kingdom will be holding a summit on artificial intelligence (AI) so that nations can...
Science
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Business
Ajman’s exports rise 19 percent in H1 2023
AJMAN, UAE – The Ajman Chamber of Commerce and Industry (ACCI) has revealed that the volume of exports from the...
- Ajman’s total exports reached US$1.2 billion in H1 2023, compared to US$1.1 billion during the same period in 2022.
- Ships and boats topped the list of exported products, followed by mineral oils, fish and steel products.
Market Report
Stocks fall after Federal Reserve says it may hike interest rates
Global stocks sank after the US Federal Reserve hinted it could hike interest rates again this year to tame inflation...
- In a move dubbed a "hawkish hold" by analysts, the Fed held borrowing costs but indicated another hike is likely in 2023 to tackle US inflation.
- Sweden's Riksbank and Norway's Norges Bank each raised their key interest rates by a quarter-point.
Geostrategy
Biden pledges to extract ‘costs’ from Iran despite prisoner swap
NEW YORK, US- President Joe Biden said the United States would keep piling "costs" on Iran despite a prisoner swap deal...
- Biden confirmed that he was imposing new sanctions on Iran's intelligence ministry and former president Mahmoud Ahmadinejad.
- His statement did not mention the granting of clemency to five Iranians jailed or awaiting trial for non-violent crimes.