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
QatarEnergy buys stake in Egypt blocks
It did not disclose the cost of the agreement.
- The Qatari state-owned hydrocarbon giant will receive stakes in the Cairo and Masry concessions off Egypt's north coast.
- Under the deal, the operator ExxonMobil retaining 60 percent, QatarEnergy said in a statement.
Business
TSMC’s April revenue up 60%
It capitalized on huge wave of demand for chips used in AI hardware.
- TSMC dominates the global chip industry, and the bulk of its fabrication plants are based in Taiwan, a self-ruled island that is claimed by neighboring China.
- TSMC announced plans in April for a third factory in the United States, raising its total investment in the United States to US$65 billion.
Geostrategy
UN votes symbolically in favor of Palestinian membership
"I have stood hundreds of times before at this podium, but never for a more significant vote than the one...
- Palestinians in April relaunched a request dating back to 2011 to become full members of the United Nations, where their current status is that of a "nonmember observer state."
- The vote lets Palestinians submit proposals and amendments directly, without having to go through another country, as is the case now.
Geostrategy
Hezbollah says fighters killed after Israeli strike on south Lebanon
The Lebanese security source, requesting anonymity as they were not authorized to speak to the media, said that "four Hezbollah...
- Hezbollah said it launched "an air attack with explosive drones" targeting an Israeli military base and its vicinity in retaliation.
- At least 399 people have been killed in Lebanon in seven months of cross-border violence, mostly militants but also including more than 70 civilians.
Business
Etihad reports record Q1 profit
Total revenue increased by $269 million in the same period.
- The airline said the revenue increase reflects an increase in network capacity and passenger numbers.
- The airline carried 4.2 million passengers over the quarter, up 41 per cent year-on-year.
Business
Emirates CEO Sheikh Al Maktoum ‘not happy’ over Boeing aircraft delays
Dubai, United Arab Emirates -- The head of Dubai's Emirates airline urged Boeing on Tuesday to "fix" its problems, warning the...
- Chairman and chief executive Sheikh Ahmed bin Saeed Al Maktoum said the delayed delivery was putting pressure on Emirates' existing fleet.
- Emirates, already the biggest operator of 777 planes, has 205 777X on order, including a major purchase of 55 777-9 and 35 777-8 announced in November.
Geostrategy
South Gaza hospitals have only three days’ fuel left: WHO
Despite international objections, Israel sent tanks into the overcrowded southern city of Rafah on Tuesday and seized the nearby crossing...
- "The closure of the border crossing continues to prevent the UN from bringing fuel. Without fuel all humanitarian operations will stop," said WHO chief Tedros Ghebreyesus.
- Tedros said Al-Najjar, one of the three hospitals in Rafah, was no longer functioning due to the ongoing hostilities in the vicinity and the military operation in Rafah.
Business
flynas UAE expansion plan to increase number of routes, flights
Dubai, UAE -- flynas, the Saudi budget carrier, has announced expansion plans for the UAE from September this year, which...
- The carrier unveiled expansion plans for the UAE on the sidelines of the Arabian Travel Market (ATM).
- Starting September 2024, flynas will expand its operations to include Abu Dhabi, Sharjah, and Al Maktoum International (DWC).
Business
Aramco Q1 profit down 14.5%
Despite lower profit, it will pay $31bn in dividends to Saudi government.
- Net income was 102.27 billion riyals ($27.27 billion), down from 119.54 billion riyals ($31.88 billion) for the same period in 2023.
- Aramco is currently producing roughly nine million barrels per day (bpd), well below its capacity of 12 million bpd.
Geostrategy
Israel’s Rafah evacuation order heightens global alarm
The evacuation call followed disagreement between Israel and Hamas over the Palestinian group's demands to end the seven-month war, during...
- Israeli Prime Minister Benjamin Netanyahu has vowed to send ground troops into Rafah regardless of any truce, defying international concerns.
- The foreign ministry in Cairo warned in a statement of "grave humanitarian risks" for more than one million Gazans sheltering there.
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
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Salik 9M net profit $223m
Business
Avia to buy 40 Boeing aircraft
Business
Latest News
Desertification talks open in Saudi Arabia as experts fire warning
UN talks aimed at halting the degradation and desertification of vast swathes of land start in Saudi Arabia. Forest loss...
Gulf summit in Kuwait urges ‘immediate ceasefire’ for Gaza
Kuwaiti Emir Sheikh Meshal al-Ahmad al-Sabah called on the international community to implement "an immediate ceasefire, providing international protection for...
Geostrategy
Trump threatens 100% tariff on BRICS countries over currency plans
Washington, United States -- President-elect Donald Trump on Monday threatened to impose a 100 percent tariff on the BRICS group nations...
Geostrategy
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Turkish-backed jihadists breach Aleppo, displacing thousands and cutting vital highway to Damascus
By Friday, the jihadists and their allies had taken more than 50 towns and villages in the north and entered...
- The fighters took control of "half of the city of Aleppo" as regime forces withdrew, according to the Syrian Observatory for Human Rights
- The offensive began on Wednesday, the same day that a fragile ceasefire took effect in neighbouring Lebanon between Israel and Hezbollah
Geostrategy
Okonjo-Iweala’s second term: Trump’s disdain for WTO biggest challenge
Ngozi Okonjo-Iweala, the first woman and the first African to head the WTO, is the only candidate in the race,...
- Her term ends in August 2025, and the appointment process expected to lead to her next term had initially been scheduled to take months.
- During Trump's first term, the WTO also faced relentless attacks from his administration, which crippled the organization's dispute settlement appeal system.
Arts & Culture
Crypto boss Justin Sun eats banana art he bought for $6.2 million
Hong Kong, China -- Crypto entrepreneur Justin Sun on Friday fulfilled a promise he made after spending $6.2 million on an...
- Titled "Comedian", the conceptual work created by Italian artist Maurizio Cattelan was sold at a Sotheby's auction in New York last week, with Sun among seven bidders.
- Sun this week also became an advisor to World Liberty Financial, a crypto initiative backed by US president-elect Donald Trump, following a $30 million investment.