Netanyahu sacks defence minister, sparking mass protests

JERUSALEM: Israeli Prime Minister Benjamin Netanyahu on Sunday sacked Defence Minister Yoav Gallant, triggering mass protests, a day after Gallant broke ranks with the government and urged a halt to a highly contested plan to overhaul the judicial system. קו

IMF says risks to financial stability have increased, calls for vigilance

BEIJING: Risks to financial stability have increased, International Monetary Fund chief Kristalina Georgieva said in a speech delivered in Beijing on Sunday, calling for continued vigilance despite moves by advanced economies to calm market stress. The IMF managing director reiterated

Elon Musk puts $20 billion value on Twitter, The Information reports

Twitter Inc CEO Elon Musk has offered the social-media company’s employees stock grants at a valuation of nearly $20 billion, the Information reported, citing a person familiar with an email Musk sent to Twitter staff. The reported valuation is less

Nineteen African migrants die when another boat sinks off Tunisia

TUNIS: At least 19 migrants from sub-Saharan Africa died when their boat sank off the Tunisia as they tried to cross the Mediterranean to Italy, a human rights group said on Sunday, the latest migrant boat disaster off Tunisia. In

Putin says Moscow to place nuclear weapons in Belarus, US reacts cautiously

MOSCOW: Russia will station tactical nuclear weapons in Belarus, President Vladimir Putin said on Saturday, sending a warning to NATO over its military support for Ukraine and escalating a standoff with the West. Also read: Russia isolated as U.N. marks

Deutsche Bank stocks plunge as fear of European banking crisis returns

Shares of Germany’s largest bank Deutsche Bank plunged on Friday as investors fretted that regulators and central banks have yet to contain the worst shock to the sector since the 2008 global financial crisis. Wider indicators of financial market stress

Putin ally proposing banning ICC in Russia

Russia’s parliament speaker on Saturday proposed banning the activities of the International Criminal Court (ICC) after the court issued an arrest warrant for President Vladimir Putin, accusing him of the war crimes. Vyacheslav Volodin, an ally of Putin’s, said that

Biden warns Iran after tit-for-tat strikes in Syria

WASHINGTON: President Joe Biden has warned Iran that the United States would “act forcefully” to protect Americans, after the U.S. military carried out air strikes against Iran-backed forces in retaliation for an attack in Syria. Later, officials said that another

Microsoft threatens to restrict data from rival AI search tools

Microsoft Corp (MSFT.O) has threatened to cut off access to its internet-search data, which it licenses to rival search engines, if they do not stop using it as the basis for their own artificial intelligence chat products, Bloomberg News reported.

IMF says Pakistan’s new fuel subsidy needs to be agreed before deal

A long-awaited loan agreement between Pakistan and the International Monetary Fund (IMF) will be signed once a few remaining points, including a proposed fuel pricing scheme, are settled, an IMF official confirmed on Friday. The coalition government and IMF have

Trump indictment decision pushed back as jury fails to meet

NEW YORK: The drama surrounding Donald Trump’s possible indictment over hush money paid to a porn star took a new twist Wednesday after a New York grand jury failed to convene as expected — pushing back a decision, potentially into

FTX reaches deal to recover over $400mn from hedge fund Modulo

Bankrupt crypto exchange FTX has reached a deal to recover more than $400 million in cash from hedge fund Modulo Capital, pulling back 97% of the money that FTX companies sent to the hedge fund in 2022, according to court

Potential TikTok ban sends advertisers scrambling

Advertisers are seeking any assurances from TikTok, the viral app that helped usher in a wave of short-form video across social media, as the Chinese-owned company again faces a potential ban in the U.S. over national security concerns. When TikTok’s

Russia hits Ukraine with drones, missiles after solidarity visit from Xi

Russia blasted an apartment block in Ukraine with missiles on Wednesday after launching a swarm of drones at cities overnight, a deadly display of force following a solidarity visit by China’s leader Xi Jinping. Ukraine’s President Volodymyr Zelenskiy tweeted a

UK’s Rishi Sunak wins post-Brexit trade vote in parliament

British Prime Minister Rishi Sunak won the backing of parliament on Wednesday for a key element of a reworked post-Brexit deal on Northern Ireland despite a lack of support from the province’s biggest unionist party and some of his lawmakers.

German green group sues Meta alleging failure to curb threats

A prominent German environmental group said on Wednesday it was suing Facebook’s parent company Meta (META.O), accusing the social media firm of failing to clamp down on insults and threats of violence and murder. Environmental Action Germany (DUH) said in

US FDA expands use of Regeneron’s cholesterol drug in young children

Regeneron Pharmaceuticals Inc said on Wednesday the U.S. Food and Drug Administration had approved the expanded use of its drug in children aged 5 to 11 years to treat an ultra-rare disease that causes high cholesterol. The drug, Evkeeza, was

Ukraine to receive Abrams tanks from US as soon as this fall-sources

WASHINGTON: The Pentagon plans to speed up the delivery of Abrams tanks to Ukraine, a U.S. official and a source familiar with the situation said, providing the vital equipment to Kyiv as soon as this fall. The Biden administration pledged

Oil lower as banking turmoil holds down sentiment

Oil drifted lower on Tuesday as more than a week of banking turmoil kept weighing on market confidence. Brent crude futures for May settlement dropped 71 cents, or 1%, trading at $73.08 per barrel at 0514 GMT. U.S. West Texas

Amazon to cut 9,000 jobs in second round of layoffs Inc (AMZN.O) on Monday said it would axe another 9,000 roles totaling 27,000 job cuts in recent months, trimming from its long-profitable cloud unit that’s facing new headwinds and making it the latest tech company to announce a second

Google denies destroying ‘chat’ evidence in US antitrust lawsuit

Alphabet Inc’s (GOOGL.O) Google has denied intentionally destroying evidence in the U.S. Justice Department’s antitrust lawsuit over the company’s search business, in a response to the government’s bid for sanctions in federal court. The Justice Department last month alleged Google

IMF approves nearly $3 bln bailout for Sri Lanka

WASHINGTON: The International Monetary Fund (IMF) said its executive board approved a nearly $3 billion bailout for Sri Lanka, and the country’s presidency said the program will enable it to access up to $7 billion in overall funding. Also read:

Oil tumbles over $2 on banking concerns

SINGAPORE: Oil prices fell on Monday to their lowest in 15 months on concerns risks in the global banking sector may cause a recession that would lead fuel demand to decline and ahead of a potential hike in U.S. interest

Saudi National Bank loses over $1bn on Credit Suisse investment

Saudi National Bank is nursing major losses in the wake of Credit Suisse’s failure after a deal was reached for UBS to buy the embattled Swiss lender for $3.2 billion. Saudi National Bank — Credit Suisse’s largest shareholder — confirmed

Mercedes set to invest billions in e-vehicles plants

BERLIN: Mercedes (MBGn.DE) will invest billions of dollars to modernise its plants in China, Germany and Hungary over the coming years, magazine Automobilwoche reported, as the carmaker prepares to switch to electric vehicles and cut emissions. The European Union has

N Korea launches ballistic missile days after firing Hwasong-17

SEOUL: North Korea fired a ballistic missile on Sunday, Yonhap news agency reported, the latest launch to come as South Korea and the United States stage major military drills. “North Korea fires ballistic missile towards the East Sea,” Yonhap reported,

Swiss authorities mull imposing losses on Credit Suisse bondholders

FRANKFURT: Swiss authorities are examining imposing losses on Credit Suisse (CSGN.S) bondholders as part of a rescue of the bank, two sources with knowledge of the matter said on Sunday. However, European regulators are apprehensive about such a move for

iPhone 15 Pro Max smartphone may feature thinnest screen to date

Tech giant Apple’s upcoming iPhone 15 Pro Max smartphone will reportedly “break record” of the thinnest screen bezels to date. Tipster Ice Universe tweeted: “iPhone 15 Pro Max will break the record of 1.81mm bezel black edge held by Xiaomi 13, and

Paris police, protesters clash for third night over Macron’s pension reform

PARIS: Police clashed with demonstrators for a third night on Saturday as thousands of people marched throughout the country amid anger at the government pushing through a rise in the state pension age without a parliamentary vote. Meanwhile, elsewhere in

Funding shortfall forces food ration cuts for millions of Afghans

KABUL: The UN World Food Program has been forced to cut rations to 4 million Afghans this month, it said in a statement late on Friday, due to a funding shortfall in the midst of the country’s severe humanitarian crisis.