The $480 billion creator economy revolution
We're likely to see more creators seeking alternatives to traditional gatekeepers, following in the footsteps of artists like Taylor Swift....
Opinion
Business
Investors hold breath as Nvidia earnings loom, stock markets subdued
Paris, France -- US shares fell marginally and European stock markets mostly inched higher Wednesday as investors cautiously awaited the latest...
- Traders are also waiting for key US economic data later this week that could provide clues about the size of an expected interest-rate cut next month.
- In New York, the main indexes were all down slightly shortly after opening. In Europe, London's FTSE 100 Index was lower, while Paris and Frankfurt were higher.
Geostrategy
SpaceX postpones historic mission featuring first private spacewalk
United States -- SpaceX postponed once more its attempt at launching a daring orbital expedition featuring an all-civilian crew that...
- SpaceX announced late Tuesday it was pushing back the launch plans "due to unfavorable weather forecasted in Dragon's splashdown areas off the coast of Florida".
- SpaceX Dragon capsule is set to reach a peak altitude of 870 miles (1,400 kilometers) -- higher than any crewed mission in more than half a century, since the Apollo era.
Geostrategy
UAE seeks consular services for arrested Telegram boss
"The UAE is closely following the case of its citizen Pavel Durov, founder of Telegram, who was arrested by the...
- He is accused of failing to curb the spread of illegal content on Telegram, which has more than 900 million users. The company has rejected the accusations.
- Durov set up Telegram after leaving Russia a decade ago, and Forbes magazine estimates his current fortune at $15.5 billion.
Geostrategy
Iraq issues arrest warrants against two persons for ‘heist of the century’
Baghdad, Iraq -- An Iraqi criminal court on Tuesday issued arrest warrants for a businessman and a former government official wanted...
- The scandal, dubbed the "heist of the century", sparked widespread anger in Iraq, which is ravaged by rampant corruption, unemployment and decaying infrastructure.
- The criminal court issued the warrants for businessman Nour Zuhair and Haitham al-Juburi, a former adviser to then prime minister Mustafa al-Kadhemi.
Geostrategy
Egypt says will not accept Israeli force on its Gaza border
Cairo, a key mediator in efforts to secure a ceasefire between Israel and Hamas in Gaza, "reiterated to all parties...
- "Egypt is managing the mediation" between Israel and Palestinian militant group Hamas "in accordance with its national security", the source told Al-Qahera News.
- The negotiations, also mediated by Qatar and the United States, have yielded little hope for a ceasefire, though Washington said Friday that some progress had been made.
Business
UAE national carriers fly to 606 destinations as travel demand rebounds
Abu Dhabi, UAE -- UAE national carriers continued to expand their destinations for passengers, supported by the UAE's leading position...
- The carriers reached about 586 destinations at the end of last year 2023. The national carriers' destinations currently include more than 144 Emirates destinations.
- flydubai flies to 125 destinations in 58 countries across Africa, Central Asia, Central and Southeast Europe, the GCC, the Middle East.
Business
Alibaba to upgrade Hong Kong listing amid profit drop
Hong Kong, China -- Chinese e-commerce giant Alibaba said Friday it would upgrade its Hong Kong-listed shares to primary status, opening...
- The decision by shareholders during its annual general meeting Thursday will provide a much-needed boost to the firm, which has underperformed the market in recent years.
- Alibaba has been primarily traded in New York since 2014 and remained dual-listed after its notable return to Hong Kong through a second listing in 2019.
Geostrategy
In rare move, UAE accepts Taliban government ambassador
It became just the second country after China to do so. The UAE said it was committed to "building bridges"...
- The UAE's growing ties with the Taliban government include the management of Afghan airports by an Emirati firm, GAAC, following the withdrawal of US forces and Taliban's return.
- "The world recognizes the challenges faced by Afghanistan over the past few years," an Emirati official said in a statement.
Business
EGA buys 80% stake in Spectro
EGA says the deal boosts its plan to expand recycling space globally.
- The owners and management will hold a 20 per cent stake, as the two companies have signed a share purchase agreement.
- The transaction is expected to be completed during the third quarter of 2024, subject to obtaining all regulatory approvals.
Business
Stocks wobble as investors brace for Powell’s rate cut clues
Paris, France -- Stock markets wobbled on Thursday as investors await a highly-anticipated speech by US Federal Reserve chief Jerome Powell,...
- The dollar has been under pressure from expectations of lower rates, but it pared down some losses against other major currencies on Thursday.
- The spotlight will turn to Powell when he addresses an annual gathering of global central bankers, with investors eager to hear for fresh signals about the Fed's plans.
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Coal use at record high in 2024, the world’s hottest year: IEA
Paris, France -- World coal use is set to reach an all-time high in 2024, the International Energy Agency said Wednesday,...
Geostrategy
TikTok under fire: Espionage claims, election influence campaigns and controversies
The platform faces accusations of espionage in the United States, while the European Union has launched an investigation into claims...
Geostrategy
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Business
US stocks mostly rise ahead of expected rate cut, bitcoin hits new record
The Fed is widely expected to cut its key lending rate for a third straight time, reducing it by a...
- Bitcoin hit a new record high at $106,493.43 as it continues to gain support from Donald Trump's backing of cryptocurrencies.
- Investors are turning their attention to Wednesday's US Federal Reserve decision on borrowing costs at its last policy meeting of the year before Trump takes office next month.
Nations step up outreach to Syria’s post-Assad rulers
Governments worldwide are stepping up efforts to engage with Syria's new interim rulers, just over a week after Islamist-led rebels...
- Diplomats have urged an inclusive new administration focused on nation-building and justice
- The interim government insists they will protect the rights of all Syrians, and the rule of law
Geostrategy
Key Libya oil refinery halts operations after clashes: state firm
Tripoli, Libya -- A key oil refinery in western Libya suspended operations after armed clashes erupted early on Sunday, causing fires...
- The Zawiya refinery, built in 1974, is Libya's second largest with a refining capacity of more than 120,000 barrels per day (bpd).
- It is the only refinery supplying the local market with fuel products. Zawiya city is the third largest in Libya's Tripolitania region, after the capital and Misrata.