Banana taped to a wall sells for $6.2 million
The provocative work of conceptual art by Italian artist Maurizio Cattelan debuted at the Art Basel show in Miami Beach...
Arts & Culture
US envoy in Beirut says ‘real opportunity’ to end Israel-Hezbollah war
US special envoy said he was in Beirut because he saw "real opportunity" to end the Israel-Hezbollah war
Geostrategy
Business
Bitcoin hits $80,000 for the first time on Trump return optimism
London, United Kingdom -- Bitcoin soared to a new record high on Sunday, as traders bet that Donald Trump's return to...
- It has been rising since Republican candidate Trump won last Tuesday's US presidential election over sentiment that he will ease regulations on digital currencies.
- During his first presidency Trump referred to cryptocurrencies as a scam, but has since radically changed his position, even launching his own platform for the unit.
Geostrategy
Global food prices reach 18-month high, vegetable oil cost soars
Paris, France -- Global food prices rose in October to their highest level in 18 months, with a sharp increase in...
- The FAO Food Price Index, which tracks monthly changes in international prices of a basket of food commodities, reached 127.4 points last month, a 2% increase from September.
- It was the highest since April 2023 but still 20.5 percent lower than the peak reached in March 2022 following Russia's invasion of agricultural powerhouse Ukraine.
Geostrategy
UN probe says women, children comprise the majority of Gaza war dead
In a fresh report, the United Nations Human Rights Office (OHCHR) detailed a raft of violations of international law. Many...
- "Civilians in Gaza have borne the brunt of the attacks, including through the initial 'complete siege' of Gaza by Israeli forces," the UN said.
- "Conduct by Israeli forces has caused unprecedented levels of killings, death, injury, starvation, illness and disease."
Business
Emirates half-year profit $2.5bn
The record profit is subject to new 9% corporate tax for the first time.
- The airline group, operating from the world's busiest airport for international traffic, has faced regional disruptions due to the conflicts, but has expanded its network elsewhere
- Group revenue rose 5.0 percent to $19.3 billion on "consistently strong customer demand across business divisions, and across regions", the statement said.
Trump victory reflects Arab-American support, Netanyahu discusses Iran with him amid lingering regional conflict
In a unique campaign twist, Trump captured Muslim voters by pledging diplomacy, promising to end prolonged conflicts and promote stability,...
- His new Muslim supporters are celebrating his victory and confident he will deliver despite Israel, led by his close ally Benjamin Netanyahu
- But during this campaign, Trump touted his status as Israel's strongest friend, saying Biden should let Israeli Prime Minister Netanyahu "finish the job" against Hamas in Gaza
Business
Lulu’s IPO raises $1.72bn
The proceeds make it the largest UAE IPO of 2024 to date.
- The Offering achieved aggregate demand of over AED135 billion ($37 billion) from local, regional, and international investors.
- This is a record for a non-Government UAE IPO over the past 10 years, with the IPO oversubscribed by more than 25 times across all tranches (excluding Cornerstone Investors).
Geostrategy
What impact will Donald Trump have on the world economy?
Paris, France -- Donald Trump's return to the White House with his protectionist policies poses threats for the global economy, with...
- During his first term in office from 2017 to 2021, Trump often resorted to punitive tariffs in disputes with trade partners.
- Donald Trump's policies could also rekindle inflation, which cooled following a series of interest-rate hikes that the Federal Reserve began to unwind this year.
Business
Saudi Aramco’s quarterly profit drops 15% on low oil prices
Riyadh, Saudi Arabia -- Energy giant Saudi Aramco reported a 15 percent year-on-year drop in third-quarter profit on Tuesday, citing prices...
- The fall in net income to $27.56bn from $32.58bn in 2023 is the seventh consecutive quarterly drop for Aramco, one of the world's biggest companies by market capitalization.
- Aramco is the chief source of revenue for Crown Prince Mohammed bin Salman's Vision 2030 reform agenda, which aims to remodel the Gulf kingdom's crude-reliant economy.
Interview
Securing the digital future: AI and global cooperation foster cyber resilience
While AI accelerates the detection and management of threats, cybercriminals also leverage this technology for sophisticated attacks, says WEF's cybersecurity expert Filipe Beato.
- Beato said cyber risks are among an organization’s highest priorities, and the threat keeps increasing, a fact emphasized by WEF since 2020.
- With the increased connectivity and dependencies of critical sectors and services, improving ecosystem cyber resilience requires collaborative action.
Geostrategy
B-52 bombers arrive in Middle East: US military
Washington, United States -- American B-52 bombers have arrived in the Middle East, the US military said Saturday, a day after...
- "B-52 Stratofortress strategic bombers from Minot Air Force Base's 5th Bomb Wing arrived in the US Central Command area of responsibility," the military said.
- The United States announced on Friday evening that it was sending the bombers, fighter and tanker aircraft and ballistic missile defense destroyers to the Middle East.
Banana taped to a wall sells for $6.2 million
The provocative work of conceptual art by Italian artist Maurizio Cattelan debuted at the Art Basel show in Miami Beach...
Arts & Culture
Company News
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Salik 9M net profit $223m
Business
Saudi-hosted summit says Mideast peace requires end to Israeli occupation
The summit's closing statement said that "a just and comprehensive peace in the region... cannot be achieved without ending the...
Geostrategy
Avia to buy 40 Boeing aircraft
The transaction for the purchase of 737 MAX 8 jets valued at $4.9bn.
Business
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Geostrategy
Arab, Muslim leaders fly to Saudi Arabia for talks on Gaza, Lebanon
Riyadh, Saudi Arabia -- Arab and Muslim leaders have begun arriving in Saudi Arabia for a summit scheduled for Monday that...
- The Saudi foreign ministry announced the summit in late October during the first meeting of an "international alliance" pushing for a two-state solution.
- The 57-member OIC and 22-member Arab League include countries that recognize Israel and those firmly opposed to its regional integration.
Business
Bitcoin hits $80,000 for the first time on Trump return optimism
London, United Kingdom -- Bitcoin soared to a new record high on Sunday, as traders bet that Donald Trump's return to...
- It has been rising since Republican candidate Trump won last Tuesday's US presidential election over sentiment that he will ease regulations on digital currencies.
- During his first presidency Trump referred to cryptocurrencies as a scam, but has since radically changed his position, even launching his own platform for the unit.
Geostrategy
Global food prices reach 18-month high, vegetable oil cost soars
Paris, France -- Global food prices rose in October to their highest level in 18 months, with a sharp increase in...
- The FAO Food Price Index, which tracks monthly changes in international prices of a basket of food commodities, reached 127.4 points last month, a 2% increase from September.
- It was the highest since April 2023 but still 20.5 percent lower than the peak reached in March 2022 following Russia's invasion of agricultural powerhouse Ukraine.