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Business

Israel’s Tech Industry Continues to Struggle in 2023, According to State Agency

JERUSALEM: A slowdown in Israel’s technology sector has worsened in 2023, exacerbated by political turmoil, and the country may be detaching from broader trends that point to a global recovery, the state-backed Israel Innovation Authority said on Monday. High-tech has for a decade been the fastest growing sector in Israel and crucial for economic growth, accounting for 14 percent of jobs and almost a fifth of GDP — not to mention innovations coming out of Tel Aviv adopted around the world in cybersecurity, artificial intelligence and other fields.
Environment

Samuel Alito’s Wife Leases Land to Oil and Gas Company During EPA Battle

A deal made by Alito’s wife with an energy company paints recent Supreme Court decisions on the environment in a damning light.

The post Samuel Alito’s Wife Leased Land to an Oil and Gas Firm While the Justice Fought the EPA appeared first on The Intercept.

News

Prigozhin’s Uprising Threat Echoes Russia’s History of Failed Wars

Putin may yet suffer the fate of many czars before him: a military uprising fueled by the blowback of a failing war.

The post Yevgeny Prigozhin’s Threatened Uprising Against Putin Echoes Russia’s History of Wars Gone Bad appeared first on The Intercept.

Business

China announces $72 billion tax incentive for electric vehicles

RIYADH: China unveiled on Wednesday a 520 billion yuan ($72.3 billion) package of tax breaks over four years for electric vehicles and other green cars, as it seeks to boost auto sales. Weakening sales growth in the world’s biggest auto market has raised concern over China’s economic growth and while financial support was widely expected after an earlier government pledge to promote the industry, shares in major automakers jumped after the details were released.
sport

Allies of Kyiv pledge to hold Russia accountable for invading Ukraine.

LONDON: Western allies on Wednesday promised to make Russia pay for invading Ukraine as governments and private investors met to fund the country’s reconstruction from the ravages of war. The World Bank has put an estimate of $14 billion on Ukraine’s immediate needs to repair the damage caused by the bitter fighting. But a recent study by the World Bank, the UN, the European Union and the Ukrainian government said the wider recovery of the economy would cost $411 billion.
Business

Encouragement for US Businesses to Invest More in Iraq

LONDON: American businesses are being encouraged to increase investment in Iraq as the country looks to move on from decades of devastation. Speaking to journalists, including Arab News, on Tuesday following a trip to Iraq, the special representative for commercial and business affairs at the US State Department said he is “very excited” at the opportunities to be part of the rebuilding of the country.
Business

flynas signs $3.7bn deal with Airbus for 30 planes

RIYADH: Saudi Arabia’s budget airline flynas has signed a $3.73 billion agreement with Airbus to buy 30 aircraft, Saudi state TV reported on Monday. The deal was signed at the Paris Air Show by Bandar Al-Mohanna, flynas CEO and managing director, and Christian Scherer, Airbus chief commercial officer and head of international, in the presence of Saudi Minister of Transport and Logistics Saleh Al-Jasser, Abdulaziz Al-Duailej, president of General Authority of Civil Aviation, and Ayed Aljeaid, chairman of the board of NAS Holding.
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