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
US Federal Reserve expected to cut rates in last meeting of Biden era
Washington, United States -- The US Federal Reserve is widely expected to announce a quarter point cut to its key lending...
Business
Economy
Saudi Arabia’s GDP grows 3.8 percent in first quarter: GASTAT
The Gross Domestic Product at current prices amounted to SAR 1 trillion ($267.95 billion) in Q1/2023. Crude petroleum and natural...
- The GDP at constant prices reached SAR 753.2 billion in Q1 2023, compared to SAR 725.74 billion a year earlier, data issued by the General Authority for Statistics (GASTAT) shows.
- Non-oil activities increased 5.4 percent compared to the first quarter of 2022 and 1.1 percent quarter-on-quarter, while government activities rose 4.9 percent year-on-year.
Business
Sharjah Taxi transports 1.465m passengers in Q1 2023
Sharjah, UAE - Sharjah Taxi reports successful transport of 1.465 million passengers during the first quarter of 2023. With a...
- With a fleet of 750 vehicles of various models and brands, the company remains committed to ensuring passenger satisfaction, safety, and comfort
- Khalid Al Kindi, the Executive Director of Sharjah Taxi, emphasized the company's commitment to providing innovative services and prioritizing luxury experiences
Economy
OECD slightly raises world GDP growth forecast to 2.7 percent
The Paris-based organization forecast an economic expansion of 2.7 percent, up from 2.6 percent in its previous report in March,...
- A drop in energy prices, the untangling of supply chain bottlenecks and China's sooner-than-expected reopening are contributing to the recovery, the OECD said.
- Among its 38 members -- an eclectic group ranging from the United States to Germany, Mexico, Japan and New Zealand -- inflation is expected to slow to 6.6 percent this year.
Geostrategy
CNN chief Chris Licht has stepped down: Warner Brothers
After joining CNN last year, Licht came under fire for editorial decisions including a recent town hall meeting with former...
- Licht had sharply criticized CNN's news coverage of Trump under former news chief Jeff Zucker in a recent Atlantic article.
- The article also characterized Licht as aloof and distrusted among rank-and-file network journalists, who were also critical of his handling of other controversies.
Business
Direct deal on Taaleem Holding Group shares nets $4.65m on DFM
Dubai, UAE -- Dubai Financial Market (DFM) saw on Monday a direct deal on 5.25 million shares of Taaleem Holding...
- The Group's share closed 7.78 percent higher at AED 3.6 after trading of more than 32 million shares at the value of AED 113.1 million ($31 million) through 1,608 deals
- National Bonds Company, a Sharia-compliant saving and investment company, announced its acquisition of an additional 5 percent stake in the Taaleem Holding Group
Modric, Lloris among ‘more than 10’ Saudi targets, besides Messi and Benzema: source
Saudi authorities are "in contact with more than 10 players, many of them won the World Cup or the Champions...
- Sergio Ramos, Jordi Alba, Sergio Busquets, N'Golo Kante, Angel Di Maria and Roberto Firmino are also among the World Cup and Champions League winners being lined up
- The latest information comes as Saudi officials are in Paris and Madrid to try to wrap up deals with Messi and Benzema respectively, according to sources and reports
OPEC+ update: Saudi oil output cut likely to worsen fears of recession
Analysts had largely expected OPEC+ producers to maintain their current policy, but signs emerged this weekend that the 23 countries...
- While the UAE pushes for change in how its output quota is measured, the African producers are reluctant to give up their unused quota
- Oil producers are grappling with falling prices and high market volatility amid the Russian-Ukraine conflict
‘I will continue’: Ronaldo says he’ll stay in Saudi Arabia
Riyadh, Saudi Arabia - Portuguese star Cristiano Ronaldo pledged to remain in Saudi Arabia next season on Thursday despite failing...
- The 38-year-old said in an official Saudi Pro League interview: "I am happy here, I want to continue here, I will continue here."
- Ronaldo's 14 goals in 16 league appearances were only enough for a second-place finish for the Riyadh club, a favourite of some senior Saudi royals
Economy
World needs tangible climate solutions: Al Mubarak
More than 1,000 private sector executives and members of the Dubai Chamber had joined the path towards reducing global emissions...
- Over 1,000 private sector executives and Dubai Chamber members commit to halving global emissions by 2030, aiming for zero emissions by 2050
- UAE continues to enhance its environmental prosperity, with an emphasis on protected areas, sustainable agriculture, and nature-based solutions
Arts & Culture
IIFA Awards: Bollywood struts its stuff in UAE
The Gulf, with its millions of South Asian residents and migrant workers, is a "huge market" for Bollywood, said industry...
- Salman Khan and Abhishek Bachchan are among the A-listers in Abu Dhabi, capital of the oil-rich United Arab Emirates where more than a third of the 10 million population is Indian
- The stars will tread the green carpet - adopted in 2007 in a nod to climate change - after a year when Bollywood, Mumbai's Hindi movie machine, has misfired post-pandemic
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
Company News
Latest News
Gold hits record high, oil prices slide on weak Chinese demand
Expectations of US interest rate cuts weakened the dollar, while oil prices tumbled as weak Chinese demand expectations offset turmoil...
Business
UAE, Saudi Arabia lead Middle East IPO surge in second quarter
Abu Dhabi, UAE -- The IPO market in the Middle East and North Africa (MENA) region remained resilient during the...
Business
UN, EU and US decry extremist Israeli minister’s prayer at Al-Aqsa
"We are against any efforts to change the status quo within the holy sites," said deputy spokesman Farhan Haq. "Al-Aqsa...
Geostrategy
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Geostrategy
Calls for Gaza truce grow, Hamas wants Biden plan implemented
Biden had said the first phase of the proposed roadmap would include a "full and complete ceasefire" lasting six weeks,...
- The second phase would see the remaining living hostages released as the warring sides negotiate "a permanent end to hostilities", followed by "a major reconstruction plan for Gaza
- Israel has accepted the invitation from the United States, Qatar and Egypt to send negotiators for talks planned for Thursday.
Business
ADQ to invest $1bn in Sotheby’s
ADQ will acquire newly issued shares of Sotheby’s to support its growth.
- ADQ’s said the deal reflects its strategic commitment to pursuing value-accretive investment opportunities that contribute to Abu Dhabi's economic diversification.
- Patrick Drahi, who acquired Sotheby’s in 2019, will also invest additional capital alongside ADQ and remain Sotheby’s majority owner.
Geostrategy
‘Children torn apart’: Israel strike rains hell on Gaza dawn prayers
Dawn prayers were shattered by the early morning triple air strike from Israeli warplanes, which gutted Al-Tabieen religious school and...
- "Israel is genociding the Palestinians one neighborhood at the time, one hospital at the time, one school at the time," said UN Rapporteur Francesca Albanese.
- In a report issued in March, Albanese said there were "reasonable grounds" to determine that Israel had committed several acts of "genocide" in its war in Gaza.