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TSMC’s H1 revenue up 40 percent

Robust demand for AI technology behind the surge.

‘Wadeem’ sold out for $1.49bn

This is the highest Abu Dhabi real-estate release to date.

Tesla Q2 sales down 13.5%

Shares rally after the disclosure, better than some forecasts.

TomTom cuts 300 jobs

The firm said it was realigning its organization as it embraces AI.

Aldar nets $953m in sales at Fahid

Aldar said 42 percent of the buyers are under the age of 45.
  • Hollywood stars condemn Gaza ‘genocide’ on eve of Cannes Festival

    Cannes, France - More than 350 figures from the cinema world including Hollywood stars Richard Gere and Susan Sarandon condemned "genocide" in Gaza in an open letter published Monday on the eve of the Cannes Festival. "We cannot remain silent while genocide is taking place in Gaza," read the letter...
  • Countries growing 70% of world’s food face ‘extreme’ heat risk by 2045

    Climate change is already stoking heatwaves and other extreme weather events across the world, with hot spells from India to Europe this year expected to hit crop yields. Temperature spikes are causing mounting concern for health, particularly for those working outside in sweltering conditions, which is especially dangerous when humidity...
  • Erdogan says West staging ‘provocations’ against Russia

    Erdogan has maintained good working relations with Russian President Vladimir Putin while trying to stay neutral in the conflict and supplying Ukraine with weapons and combat drones. Erdogan is expected to meet Putin at a regional summit in Uzbekistan next week.
  • Stocks push higher, but yen and euro under pressure

    European and US stocks rose Tuesday, but gains were capped by economic slowdown fears and central bank efforts to contain surging inflation. Frankfurt, London and Paris equities carved out gains despite poor German data, a day after tumultuous trading as Russia curbed gas supplies to Europe.
  • Despite sanctions, Russia energy exports vault to US$158bn

    In spite of the Western sanctions, Russia has raked in some $158 billion in energy exports in the six months since the war, with the EU accounting for more than half. Natural gas prices have jumped to record levels in Europe as Russia cut off supplies.
  • Iran hopes to see sanctions relaxed to export gas to Europe

    Tehran, Iran - Iran said Monday it hopes to see US sanctions eased or lifted to allow it to sell natural gas to Europe, easing the continent's shortfall as Russian energy exports are restricted. "Given Europe's energy supply problems triggered by the Ukraine crisis, Iran could provide Europe's energy needs...
  • Sweden to provide guarantees worth ‘billions’ to energy firms

    Faced with a winter without the energy supplies from Russia, Sweden has turned to Nordic and Baltic energy companies promising them liquidity guarantees worth billions of dollars. It is an attempt to prevent a crisis sparked by Europe’s energy crunch, leading Swedish PM to say that it was facing the...
  • G7 to ‘urgently’ implement Russian oil price cap

    G7 industrialized powers vowed Friday to "urgently" move towards implementing a price cap on Russian oil imports in a bid to cut a major source of funding for Moscow's war in Ukraine. The G7 said it was working towards a "broad coalition" of support for the measure but officials in...
  • Gazprom halts pipeline gas flow in new jitters for Europe

    Gazprom said supplies via Nord Stream 1 were "completely stopped" for "preventative work" at a compressor unit, shortly after the the pipeline's operator, Entsog, announced that deliveries had stopped. The move comes as European countries have faced soaring energy prices since Russia invaded Ukraine in late February and subsequently curbed...
  • Germany stocks up large gas reserves despite Russian cuts

    Owing to its energy saving measures in recent weeks coupled with huge purchases of gas from suppliers other than Russia, Germany has replenished its gas stocks more quickly than expected. This, after Russia drastically reduced gas supply in the wake of the outbreak of war in Ukraine.
  • EU ministers to look at appeal to ban Russian tourists

    Encouraged by Ukraine to ban all Russian tourists from visiting Europe, EU foreign ministers will study the idea in a two-day meeting beginning Tuesday in Prague. Although many have resisted the suggestion fearing it would prevent Russian dissidents from getting out, many have wholeheartedly agreed with it.
  • Stocks slump after Fed chair vows tough inflation fight

    Stock slumped on Friday after Federal Reserve boss Jerome Powell pledged to act "forcefully" against soaring inflation in a battle that will be painful for Americans. The Fed has been on a campaign to raise interest rates and Powell said at Jackson Hole that the fight against inflation is not...
  • IAEA, Moscow discuss Russia-controlled Ukraine nuclear plant visit

    Head of the UN agency Rafael Grossi and Rosatom chief Alexei Likhachev met in Istanbul on Wednesday, the Russian nuclear energy agency said in a statement.
  • Telecom Egypt and Orange Jordan’s CAB System to connect Iraq to Europe

    Telecom Egypt, Egypt’s first integrated telecom operator and one of the largest subsea cables operators in the region, and Orange Jordan, will create a terrestrial system connecting Iraq to Europe through Jordanian and Egyptian territories. The two companies signed an agreement under which the new system will commercially be named...
  • Spain PM hopes Europe gas pipeline will soon be ready

    Spanish Prime Minister Pedro Sanchez said Tuesday he hopes a gas pipeline linking the Iberian Peninsula to central Europe through France could soon become a reality. Europe is currently undergoing an energy crisis as it struggles to rapidly reduce its dependence on Russian gas following the invasion of Ukraine.
  • France warns companies might have to cut energy use this winter

    The French government warned Wednesday that companies might have to reduce energy use this winter even with the country's natural gas reserves at full capacity, as Russia continues to reduce its gas exports to Europe. "The main players, government agencies and businesses, must reduce their consumption" of gas as well...
  • Saudi handshake fuels hope for energy-hit Europe

    Mohammed bin Salman's recent Europe visit after US President Joe Biden’s trip to Jeddah suggests that KSA wants to diversify its partners amidst global uncertainties, say experts.
  • Istanbul Airport first in Europe with 1,327 average flights daily

    Istanbul Airport ranked first in Europe in terms of the average number of daily flights during the period of July 22-28, with 1,327 flights. The Airport exceeded the French Charles de Gaulle Airport and Amsterdam Airport Schiphol by the number of flights in the mentioned period.
  • Algeria, Nigeria, Niger discuss gas pipeline to Europe

    The Trans-Saharan Gas Pipeline (TSGP) would transport billions of cubic metres of gas some 4,128 kilometres (2,565 miles) from Nigeria in West Africa.
  • Natural gas a weapon of war between Russia and Europe

    Natural gas has emerged as a weapon of war between Russia and Europe since Moscow's February 24 invasion of Ukraine. Here is how the standoff developed:  Nord Stream 2 halted  On February 22, 2022, German Chancellor Olaf Scholz says he is suspending the Nord Stream 2 pipeline project with Russia...
  • Ukraine says trusts UN, not Russia, in grain deal

    Ukraine and Russia signed a deal on Friday to unblock grain exports and relieve a global food crisis, as a critical Russian gas pipeline to Europe reopened. However, there was no respite in the conflict on the ground, with Russian artillery on Thursday pounding Ukraine's second largest city Kharkiv, already...
  • Russia resumes critical gas supplies to Europe via Nord Stream

    Russia on Thursday resumed critical gas supplies to Europe through Germany, reopening the Nord Stream gas pipeline after 10 days, but uncertainty lingered whether the continent could avert an energy crisis this winter. "It's working," a Nord Stream spokesman said, without specifying the amount of gas being delivered.
  • Record-breaking temperature leaves Europe in discomfort

    A fierce heatwave in western Europe has left much of the continent wilting under a scorching sun, feeding ferocious wildfires and threatening to smash more temperature records on Tuesday.
  • European Union seeks to double gas import from Azerbaijan

    Azerbaijani President Ilham Aliyev said last week that "an important document on energy security will be signed between the European Union and Azerbaijan".
  • Equities climb up on back of high US consumer spending

    Stocks soared Friday after retail sales data showed that US consumers continue to spend more in the latest signal of the economy's resilience despite high inflation and rising interest rates. Wall Street pushed higher on a better-than-expected 1.0 percent rise in retail sales in June.
  • European stocks fall on fears of aggressive Fed interest rate hike

    Europe's main stock markets slid at the open on Thursday, as a fresh spike in US inflation reinforced expectations of more aggressive Federal Reserve interest rate hikes. In initial deals, London's FTSE 100 index lost 0.3 percent to 7,138.54 points compared with the closing level on Wednesday. In the eurozone,...
  • Twitter down for short period in US, Europe, restored later

    Twitter experienced a widespread but seemingly brief outage in the United States and parts of Europe on Thursday. The Downdetector website showed that outage reports spiked in the United States around 1200 GMT, while users reported service interruptions in France and elsewhere.
  • Brent oil closes under $100/barrel for first time since April

    Brent oil futures closed Tuesday under $100 a barrel for the first time in three months as recession worries cloud the near-term outlook for crude demand. The contract for the international oil benchmark for September delivery tumbled 7.1 percent to $99.49 a barrel as the market focused on worries about...
  • Oil prices drop below $100 on recession worries

    Recession worries pushed the price of Brent oil briefly back under $100 on Wednesday, and the euro moved closer to parity with the dollar. European stocks rebounded thanks to lower bond yields and bargain hunting, while US stocks also advanced, climbing after Federal Reserve minutes maintained a tough line on...
  • European stocks surge Monday after nosediving last week

    Europe's stocks recovered somewhat Monday as investors tentatively regained some optimism following the heavy losses in the financial markets last week on fears that rising interest rates could spark recession. London stocks won 1.1 percent at midday, while Frankfurt and Paris gained 0.5 percent and 1.0 percent respectively in afternoon...
  • Europe revives Syria phosphate imports, profiting Russian firm

    Syrian phosphates used for fertiliser are being exported to Europe in bulk, benefitting a Russian firm and the sanctions-hit Damascus regime, a report said Thursday. Italy, Bulgaria, Spain and Poland are among the EU states receiving Syrian phosphates, according to the report by a consortium of investigative journalists led by...
  • Iran remains hopeful of nuclear deal with major powers

    The US, meanwhile, says it is "disappointed" that there is "no progress made" after two days of indirect talks with Iran brokered by an EU envoy in Doha. President Joe Biden's administration has "made clear our readiness to quickly conclude and implement a deal on mutual return to full compliance".
  • Expanding NATO squares up to Russia as Putin slams ‘imperial’ alliance

    The United States vowed to reinforce Europe's defences in the wake of Russia's invasion of Ukraine, as NATO declared Moscow the West's greatest threat -- prompting Vladimir Putin to lash out at the alliance's "imperial ambitions". Meeting in Madrid Wednesday, NATO leaders said Russia "is the most significant and direct...
  • Equities in Asia and Europe tank on recession fears

    Fears of a recession caused by sharp interest rate hikes aimed at fighting soaring inflation sent Asian and European markets tumbling Wednesday, tracking a sharp drop on Wall Street. The Conference Board's chief economist Dana Peterson warned the United States will likely see a recession in late 2022.
  • UAE: a trendsetter in regulating cryptocurrency market

    The UAE, Japan and Singapore have emerged as the trendsetters in regulating the crypto-currency market effectively, according to a top European academic.
  • Free of travel curbs, GCC residents fly away for a break

    In spite of high inflation, residents of the GCC countries are seeking newer destinations in Europe and beyond to travel to, Trupt Shah of Musafir.com tells TRENDS.
  • Inflation poses new challenges to Middle East, GCC

    The global inflation wave -- affecting the US, EU and China and spreading to the Gulf countries -- is forcing common people to look for solutions away from the govt actions.
  • European equities retreat before US inflation data

    European stock markets retreated at the open Friday following losses in Tokyo, with all eyes on US inflation data and its impact on the outlook for interest rate rises. London's benchmark FTSE 100 index dropped 0.5 percent to 7,442.31 points.
  • Iran disconnects cameras at nuclear sites as IAEA set for censure vote

    IAEA head Rafael Grossi told reporters on Monday that it would be "a matter of just a few weeks" before Iran could get sufficient material needed for a nuclear weapon if they continued to develop their program.
  • Huge Europe-Morocco migration begins after Covid hiatus

    Morocco on Sunday begins welcoming an influx of its citizens living in Europe after the pandemic led to a halt in what has been called one of the world's biggest cross-continental migrations. The last such effort in the summer of 2019 saw 3.3 million people and more than three quarters...
  • More than 70 migrants missing after boat sinks off Tunisia: coastguard

    More than 70 people are missing in the Mediterranean after a boat crowded with migrants headed for Europe from Libya sank off neighbouring Tunisia, the coastguard said Wednesday. The boat, which was carrying around 100 people when it put to sea, capsized off the Tunisian port of Sfax, with coastguard...
  • Qatar emir visits Spain as European Union eyes gas alternatives

    Qatar's emir began a state visit to Spain on Tuesday as Europe seeks to diversify its natural gas supply sources to reduce its energy dependence on Russia. Sheikh Tamim bin Hamad Al-Thani was welcomed by King Felipe VI at Madrid's royal palace at the start of his two-day visit, his...
  • GCC IPOs raise $4.8bn in 2022, outpacing Europe

    May Nasrallah, founder of deNovo, tells TRENDS the new listings on GCC bourses have spawned a new chapter in regional listings, ending years of drought.
  • Wheat prices hit record high after Indian export ban

    Wheat prices surged to a new record high on Monday after India decided to ban exports of the commodity as a heatwave hit production. The price jumped to 435 euros ($453) per tonne as the European market opened. Global wheat prices have soared on supply fears since Russia's February invasion...
  • Sanctions-hit Iran considering gas exports to Europe: official

    Iran is considering the possibility of exporting gas to Europe, an oil ministry official said Sunday against the backdrop of soaring energy prices due to Russia's war in Ukraine. "Iran is studying this subject but we have not reached a conclusion yet," deputy oil minister Majid Chegeni was quoted as...
  • EU hikes military aid for Ukraine as NATO expansion faces roadblocks

    Europe pledged another half billion dollars in military support for Kyiv on Friday as Sweden and Finland's moves toward joining NATO hit multiple hurdles. Moscow said it would cut off electricity to Helsinki, and the president of Turkey expressed opposition to the Scandinavian countries becoming part of NATO.
  • Finland poised for NATO membership as Ukraine war crimps Russian gas

    Finland took a step Thursday towards fast-track NATO membership, triggering a blunt warning from the Kremlin, as the war in Ukraine throttled supplies of Russian gas to Europe and the number of people who fled the country passed six million. In Geneva, the UN Human Rights Council decided to probe...
  • Russian gas to Europe via Ukraine down by almost a third

    Ukraine is a major supply route for Russian gas to Europe and the two sides have kept flows going even after the Kremlin sent troops into Ukraine on February 24
  • France says EU deal on Russia oil embargo possible this week

    The embargo on Russian oil, which is part of a sixth package of EU sanctions under discussion, is being resisted by some member states that rely on Russian oil to keep their economies running and are seeking guarantees of alternative sources.
  • France’s Macron wins new term

    Macron is the first French president to win a second term for two decades, but Le Pen's result also marks the closest the far-right has ever come to taking power in France and has revealed a deeply divided nation.
  • Losing Russian energy would weigh on Europe’s economy: IMF official

    Europe can get by without Russian gas for six months, but beyond that, the economic impact would be severe, a senior IMF official told AFP. The region relies on Russia for the vast majority of its energy needs, especially natural gas, and IMF economists looked at the economic cost of...