Renowned designer Cucinelli stresses sustainability at Saudi event
Riyadh, Saudi Arabia -- Renowned luxury fashion designer Brunello Cucinelli shared his insights on building a global brand and the...
Business
18Â Palestinians killed in Israeli strikes on northern, southern Gaza
Palestinian news agency (WAFA) reported that eight Palestinians were killed, and others were injured in an airstrike by the Israeli...
Geostrategy
Business
Luxury goods boom in Gulf draws global investors
The region's luxury goods market was worth US$ 10.52 billion in 2023, with long-term growth expected, reaching US$ 13.70 billion...
- The region's luxury goods market was worth US$ 10.52 bin in 2023, with long-term growth expected
- The market size is predicted to reach US$13.70 billion by 2028, with a compound annual growth rate of 5.42%
Geostrategy
Erdogan urges Palestinian unity after meeting Hamas chief: office
Erdogan called on Palestinians to unite following the talks at the Dolmabahce palace, on the banks of the Bosphorus strait,...
- Erdogan said recent events should not allow Israel to "gain ground and that it is important to act in a way that keeps attention on Gaza".
- "Even if only I, Tayyip Erdogan, remain, I will continue as long as God gives me my life, to be the voice of the oppressed Palestinian people," the president said.
Interview
AI is revolutionizing news ecosystem: Expert
Generative AI has removed barriers in the previous generation of AI such as news devices, new hardware and technical expertise,...
- With Generative AI, on can run news workflow through interfaces that one pays $20 a month. One doesn't need to be a coder.
- Jelani Cobb, Dean of Columbia School of journalism, says: '+AI is unignorable force that journalism will have to organize itself around'.
Business
Here is why sovereign sukuk is a game changer
It presents a more cost-effective alternative to conventional sovereign bonds, particularly for governments with lower credit ratings, a report has...
- The report suggests that sukuk generally yield less than comparable bonds and exhibit lower volatility, potentially indicating a lower liquidity risk.
- The high demand for sukuk, particularly from Sharia-compliant investors, can drive down borrowing costs for governments issuing sukuk.
Japanese AI tool predicts when recruits will quit jobs
Tokyo, Japan -- Bosses worried about turnover or wondering how long a new hire will stick around can now turn to...
- The artificial intelligence tool was developed by Japanese researchers to try and help managers provide targeted support to staff to stop them from quitting.
- It crunches data on employees at a company, from their attendance record to personal information such as age and gender.
Business
Meta releases beefed-up AI models
The models are built on new versions of publicly available Llama 3.
- Being open source means that developers outside of Meta are free to customize Llama 3 as they wish.
- Llama 3, for now, is based in English but in the coming months Meta will release more capable models able to converse in multiple languages, the company said.
Geostrategy
G7 nations oppose ‘full-scale military operation in Rafah’
Ministers from Italy, the UK, US, France, Germany, Japan and Canada also slammed the "unacceptable number of civilians" killed in...
- Israel has faced growing global opposition to the relentless war that has reduced much of Gaza to rubble, while its 2.4 million people have suffered under an Israeli siege.
- Israel's offensive has killed at least 33,970 people in Gaza, mostly women and children. according to the Gaza health ministry.
Business
Alkhorayef Water awarded $458m contract
The operation and maintenance contract will be for over 15 years.
- The existing plants in this package are Al Hafuf STP 1, Al Oyun STP and Al Omran STP. This is in addition to the new one, Al Hafuf STP 2, Argaam reported.
- The design and rehabilitation will be completed in two phases over 36 months from the contract date. Meanwhile, the O&M will be carried out over 15 years (180 months).
Business
Norway wealth fund earns $109bn on gain in tech stocks in Q1
Oslo, Norway -- Norway's sovereign wealth fund, the world's largest, posted a gain of more than $100 billion in the...
- The fund's total return on investment reached 6.3 percent, with the yield on global equities reaching 9.1 percent.
- The fund — which manages assets worth $1.6 trillion — invests the surplus revenues of the country’s oil and gas sector in various assets
Geostrategy
Climate impacts set to cut 2050 global GDP by nearly a fifth
But slashing greenhouse gas emissions as quickly as possible remains crucial to avoid even more devastating economic impacts after mid-century,...
- Climate change caused by CO2 emissions already in the atmosphere will shrink global GDP in 2050 by about $38 trillion, or almost a fifth.
- Germany and the United States are forecast to see income shrivel by 11 percent by 2050, and France by 13 percent.
Renowned designer Cucinelli stresses sustainability at Saudi event
Riyadh, Saudi Arabia -- Renowned luxury fashion designer Brunello Cucinelli shared his insights on building a global brand and the...
Business
Company News
Latest News
BP announces $7bn gas project
The project aims to unlock 3 trillion cu ft of gas resources in Indonesia.
Business
ICC issues arrest warrants for Netanyahu, Gallant, Deif
The court said it had found "reasonable grounds" to believe Netanyahu and Gallant bore "criminal responsibility" for war crimes
Geostrategy
Adani Group tanks after US bribery charges
India's opposition leader demands Gautam Adani's arrest; Kenya scraps airport, power deals with the Group that has significant investments in...
Business
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Arts & Culture
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...
- The sale featured seven potential buyers and smashed expectations, with the auction house issuing a guide price of $1-1.5 million before the bidding.
- As well as his banana work, Cattelan is also known for producing an 18-carat, fully functioning gold toilet called "America" that was offered to Donald Trump during his first term.
Geostrategy
Riyadh tripartite meet pledges to implement Beijing Agreement
Riyadh, Saudi Arabia -- The second meeting of the Saudi-Chinese-Iranian Joint Tripartite Committee to follow up on the Beijing Agreement...
- They also reaffirmed their continued endeavor to consolidate neighborly relations between their countries through adherence to the Charter of the United Nations.
- China has affirmed its readiness to continue to support and encourage the steps taken by Saudi Arabia and Iran to develop their relationship in various fields.
Geostrategy
US vetoes Gaza ceasefire call at UN
The resolution demanded "an immediate, unconditional and permanent ceasefire" in the war between Israel and the Palestinian group, along with...
- But the wording angered Israel, with a senior US official warning ahead of the vote that the resolution had "the potential only to buoy Hamas".
- Since the beginning of the conflict, the Security Council has struggled to speak with one voice, as the United States used its veto power several times.