Saudi Arabia, UAE rank among top 20 nations globally for AI talent density
With the goal of becoming one of the world’s top 10 countries in AI research and application by 2030, Saudi...
Economy
US hits back at accounts Iran moved enriched uranium before bombing
Trump, seeking credit for ordering military action and then quickly announcing a ceasefire between Israel and Iran, has lashed out...
Geostrategy
Geostrategy
Israeli strike on broadcast vehicle kills five Al-Quds Today journalists
Palestinian Territories -- A Palestinian TV channel said five of its journalists were killed Thursday in an Israeli strike on...
- The station identified the five staffers as Faisal Abu Al-Qumsan, Ayman Al-Jadi, Ibrahim Al-Sheikh Khalil, Fadi Hassouna and Mohammed Al-Lada'a.
- The Palestinian Journalists Syndicate said last week that more than 190 journalists had been killed and at least 400 injured since the start of the war in Gaza.
Economy
Turkey lowers interest rate to 47.5% as it battles double-digit inflation
The bank's monetary policy committee decided to reduce the policy rate from 50 percent to 47.5 percent, with a statement...
- The central bank began to raise interest rates last year to battle soaring prices, after President Recep Tayyip Erdogan dropped his opposition to orthodox monetary policy.
- The central bank now expects inflation to reach 44 percent at the end of 2024, up from a previous estimate in August of 38 percent.
Geostrategy
Pope calls for ‘arms to be silenced’ in Christmas appeal
Rome, Italy -- Pope Francis called Wednesday for "arms to be silenced" around the world in his Christmas address, appealing for...
- His voice breathless, the 88-year-old pontiff also appealed for a ceasefire in Gaza and for the freeing of Israeli hostages held there by Hamas.
- Francis also extended his call for peace to Sudan, which has been ravaged by 20 months of brutal civil war and where millions are under the threat of famine.
Economy
Egypt to access $1.2 billion in funding after deal with IMF
Washington, United States -- The International Monetary Fund said Tuesday that it has reached a deal with Egyptian authorities allowing the...
- The deal comes as both sides reached staff-level agreement on the fourth review under the Extended Fund Facility arrangement, the fund said.
- The funding access is subject to executive board approval. The discussions culminating in the deal were held in person from November 6-20 and virtually afterwards.
Business
Honda shares soar 16%
The surge came after the auto giant announced a $7bn buyback.
- The buyback announcement came as Honda and its struggling rival Nissan agreed on Monday to launch talks on a merger.
- Honda will buy back its own shares worth up to 1.1 trillion yen, or 23.7 percent of the total issued shares, to improve "efficiency of its capital structure".
Business
Mubadala acquires stakes from GHH
It acquired an 80 percent stake in Global Medical Supply Chain.
- Founded in 2015, GMSC provides comprehensive end-to-end supply chain services for medical products, including demand planning, procurement and logistics.
- IDS, established in 1987, stands as one of the leading distributors of pharmaceutical and consumer healthcare products in the UAE.
Business
Musk’s AI startup raises $6bn more, Saudi and Qatari funds among investors
Paris, France -- Billionaire tech mogul Elon Musk's startup xAI said it had raised $6 billion from investors in its latest...
- The firm, whose flagship product is the Grok chatbot, garnered support from US venture capitalists, chipmakers NVIDIA and AMD.
- It also garnered support from investment funds from Saudi Arabia and Qatar among others.
Honda and Nissan expected to begin merger talks
Honda and Nissan were poised Monday to announce the start of talks on a merger to help the Japanese giants...
- Their collaboration would create the world's third-largest automaker
- Honda and Nissan's partnership could include a manufacturing tie-up
In stabilization bid, Syria’s new ruler declares all weapons under state control, including Kurdish arms
Ahmed al-Sharaa announced all weapons, including those held by Kurdish-led forces, will come under state control, emphasizing unity and coexistence...
- Sharaa spoke alongside Turkish Foreign Minister Hakan Fidan, after earlier meeting with Lebanese Druze leaders and vowing to end "negative interference" in the neighbouring country
- Turkey has maintained strong ties with Syria's new leaders, and has continued military operations against Kurdish-held areas in northeastern Syria
Geostrategy
Pope again condemns ‘cruelty’ of Israeli strikes on Gaza
"And with pain I think of Gaza, of so much cruelty, of the children being machine-gunned, of the bombings of...
- The mounting criticisms of Israel appear to mark a change in the pope's tone in recent weeks. He has consistently called for peace since the beginning of the Israel-Hamas war
- At the end of September, the Pope also criticized Israel's "immoral" use of force in Gaza and in Lebanon
Saudi Arabia, UAE rank among top 20 nations globally for AI talent density
With the goal of becoming one of the world’s top 10 countries in AI research and application by 2030, Saudi...
Economy
Company News
Latest News
Arab leaders propose Gaza reconstruction under Palestinian Authority, reject Trump’s takeover plan
The prospect of the Palestinian Authority (PA) governing Gaza remains far from certain, however, with Israel having ruled out any...
Geostrategy
West Bank eviction film ‘No Other Land’ wins best documentary Oscar
Jerusalem -- No Other Land, a documentary about Israeli settlement in the occupied West Bank, has won the best documentary award...
Arts & Culture
Israel blocks humanitarian aid to Gaza as ceasefire’s first phase ends, sparking global outrage
Truce mediators Egypt and Qatar accused Israel of blatantly violating the ceasefire deal by halting the aid, a move left trucks...
Geostrategy
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Geostrategy
Trump doubles down on Gaza shock plan, says Israel will turn over the territory to US
Trump said that by the time of the handover, Palestinians "would have already been resettled in far safer and more...
- Trump first made the stunning proposal to audible gasps during a joint press conference with Netanyahu on Tuesday, whom he was hosting at the White House for talks
- Suggesting "long-term ownership" by the US, Trump said he would make Gaza the Riviera of the Middle East, and that "this could be something that could be so magnificient".
Morgan Stanley sees upswing in MENA M&A deal volumes and values
After a challenging year where M&A activity in the Middle East and North Africa took a tumble, Morgan Stanley forecasts...
- 2024 saw 1,111 M&A transactions with exposure to the MENA region, totaling US$75 billion in value
- MENA outbound M&A transactions totaled US$40.2 billion, down 3 percent
Geostrategy
Syrian President’s first foreign trip to Saudi Arabia signals Syria’s shift away from Iran’s influence.
Syrian President Ahmed al-Sharaa met Saudi Crown Prince Mohammed bin Salman in Riyadh, marking his first foreign visit and signaling...
- Al-Sharaa’s visit signals Syria’s pivot away from Iran and closer ties with the Gulf states
- Saudi Arabia is leading efforts to reintegrate Syria into the regional fold and push for sanctions relief