Author: Steven Sahiounie

Egyptian President Abdel Fattah El-Sisi announced that the Suez Canal has experienced a significant loss in revenue due to ongoing regional instability. Speaking at a graduation ceremony for police academy students on Sunday, El-Sisi stated that the canal lost over 50-60% of its revenue in the past eight months, with total losses exceeding $6 billion. “The developments in the region are extremely serious and may widen the conflict zone, affecting the area’s overall stability,” El-Sisi said. The Suez Canal Authority reported a decline in revenues for the 2023/2024 fiscal year, driven by events in the Red Sea. According to mid-July…

OpenAI, the AI powerhouse behind ChatGPT, is projecting significant losses this year, despite expecting to generate billions in revenue. However, the company is optimistic that its revenues will likely increase in the coming years. According to a report by CNBC, as cited by Sky News Arabia, OpenAI anticipates losses of approximately $5 billion in 2024. This loss comes despite the company projecting revenues of around $3.7 billion. Last month alone, OpenAI generated $300 million in revenue, CNBC reported. Looking ahead, OpenAI expects to reach $11.6 billion in sales next year, reflecting strong growth potential. Currently backed by Microsoft, OpenAI is…

Tech giants from the U.S. and China are fiercely competing to lead the artificial intelligence (AI) sector, aiming to maintain their global dominance in this critical field. Global companies are increasingly focused on developing AI chips, computing systems, and integrating AI-powered chatbots into their services. The competition is heating up between companies like Google, Microsoft, Apple, Meta, Amazon, and Alphabet, all striving to innovate and boost their influence in the AI sector. According to a research paper by the Interregional Center for Strategic Analytics in Abu Dhabi, these companies are exploring new business models to strengthen their AI capabilities. Key…

The United Arab Emirates (UAE) and the Republic of Ghana have announced a $30 million partnership to support nature-based community development and climate solutions. The initial areas of investment will focus on biodiversity and reforestation efforts. The agreement was signed by Dr. Amina Abdulla Al Dahhak, UAE’s Minister of Climate Change and Environment, and Samuel Abu Jinapor, Ghana’s Minister of Lands and Natural Resources. Key Areas of Investment The Letter of Intent outlines six areas of investment, including biodiversity, reforestation, and agroecology. These initiatives aim to provide benefits in climate resilience, biodiversity conservation, and community development, while also focusing on…

he Saudi Ministry of Energy has announced the launch of the Kingdom’s first natural gas storage project utilizing processed gas injection technology at the Hawiyah Unayzah reservoir. In a statement posted on the “X” platform (formerly Twitter) on Sunday, the ministry emphasized that the project will play a key role in managing seasonal fluctuations in demand. It also aligns with Saudi Arabia’s goals of reducing liquid fuel consumption and lowering carbon emissions as part of its energy transition plan. The Ministry of Energy further highlighted that natural gas is a cornerstone in the shift towards an optimal energy mix, contributing…

Lebanon’s caretaker Prime Minister, Najib Mikati, announced that the number of displaced people due to ongoing Israeli strikes in Lebanon could reach “one million.” He stated that this recent wave of displacement might be “the largest” in the country’s history. During a press conference, Mikati said, “There are 778 shelter centers, currently housing 118,000 people,” but he added that “the estimated number of displaced individuals is much larger and could reach up to one million.” Many have fled from southern and eastern parts of the country, as well as from Beirut’s southern suburbs. Mikati emphasized, “The number is immense. Up…

Footage from Beirut’s southern suburb reveals the extensive damage at the site where Hezbollah Secretary-General Hassan Nasrallah was assassinated in an Israeli airstrike. The video showcases the aftermath of the powerful attack that targeted the location where Nasrallah had entered just before the bombing began. The video depicts a large crater at the scene, which previously contained several buildings, one of which Nasrallah entered moments before the airstrike. Surrounding buildings were also heavily damaged due to their proximity to the blast site. According to a report from The New York Times, Israeli officials confirmed, “We dropped over 80 bombs within…

Washington is bracing for a potential escalation following Israel’s assassination of Hezbollah leader Hassan Nasrallah, the network saysThe US is considering increasing its military presence in the Middle East after an Israeli airstrike killed Hezbollah political leader Hassan Nasrallah, NBC News reported on Saturday, citing sources. According to two unnamed US officials, the military has presented Defense Secretary Lloyd Austin with options for moving additional forces to the region. The defense secretary later reportedly discussed the change of posture with US President Joe Biden and national security officials. The outlet said that while no immediate decisions were made, Austin has…

Boris Johnson says he had defense officials devise a plan to steal AstraZeneca vaccines from a Dutch plant during the Covid-19 pandemicFormer UK Prime Minister Boris Johnson has said he gathered defense officials to plan a clandestine operation in the Netherlands to steal Covid-19 vaccines amid a UK-EU dispute in 2021. The factory was holding approximately 5 million Oxford AstraZeneca vaccine doses manufactured by subcontractors at the Dutch Halix plant. The EU was refusing to send them to the UK, citing the needs of its citizens. British defense officials convened in Downing Street to outline a potential “feasible” plan but warned of possible diplomatic fallout,…

Despite previous guarantees to lawmakers, the US strategy for Ukraine was both late and totally classified, the paper has saidUS President Joe Biden has not been honest with the American public about his administration’s plan for Ukraine, the Wall Street Journal’s editorial board wrote in an article on Friday. Despite Biden styling himself a supporter of Ukraine’s freedom in his speech to the UN General Assembly this week, he refuses to level with Congress and the American public about his strategy to achieve victory, the editorial stated. In April, lawmakers passed a nearly $61 billion supplemental budget for Ukraine, after months of wrangling…