heat - hot areas image credit Getty Images

How heat fueled extreme weather across the world in 2023

Large swathes of North America, Europe and China saw heatwaves and blistering temperatures that triggered public health warnings

Sam Altman of OPENAI

Microsoft, OpenAI tie-up comes under antitrust scrutiny

UK to look at whether Microsoft-OpenAI deal harms competition

AI

Europe agrees landmark AI regulation deal

The accord requires foundation models such as ChatGPT and general purpose AI systems (GPAI) to comply with transparency obligations before they are put on the market

CYCLONE MICHAUNG

Cyclone Michaung: Dozens of flights affected at Chennai, Hyderabad and Pune airports

Heavy rainfall due to Cyclone Michaung has impacted international and domestic inbound and outbound flights across multiple airports in India

UAE unveils World Fire Emission Reduction Alliance Image Dubai Media Office

UAE unveils World Fire Emission Reduction Alliance at COP28

The signatories collectively represent over 56 countries globally, establishing a wide-ranging global alliance dedicated to reinforcing security, disaster prevention

Former US Secretary of State Henry Kissinger (1923-2023)

Henry Kissinger, former US Secretary of State, dies aged 100

Kissinger had a role in many of the epoch-changing global events of the 1970s while serving as national security adviser and secretary of state

OpenAI - Sam Altman

UPDATE: Sam Altman to join Microsoft after OpenAI exit

Altman’s sacking angered current and former employees and worried them over an upcoming $86bn share sale

AUSTRALIA LIFT CRICKET WORLD CUP-2023

Cricket World Cup 2023: Australia stun hosts India to lift trophy

The Pat Cummins-led Australian side cruised to a win with seven overs remaining

Schengen visa process to go digital from 2028

Schengen visa: EU Council gives nod to online application

Based on the new rules, people who plan to travel to the Schengen area can apply online for a visa once the new system becomes operational in 2028

JOE BIDEN - XI JINPING MEET

US-China San Francisco Summit: Markets react as Joe Biden, Xi Jinping meet yields few results

In China, stocks fell on Thursday, as investors were disappointed by the top level Sino-US meeting

HUMANE AI

Humane’s new AI pin promises to revolutionise computing forever

Humane has raised $241m from Microsoft, OpenAI CEO Sam Altman, and others

WeWork

SoftBank’s WeWork, once most valuable US startup, succumbs to bankruptcy

WeWork listed estimated assets and liabilities in the range of $10bn to $50bn

Fitch Ratings cuts Egypt’s credit score one step to B-

Fitch downgrades Egypt one notch deeper into junk territory

The country’s debt problems have come amid a bruising economic crisis that has triggered a string of currency devaluations and record inflation

Nepal

Earthquake hits Nepal: Over 100 reported dead, search and rescue operations underway

The devastating earthquake struck a remote area of western Nepal, with rescue efforts underway to look for survivors

UN AI report to close gaps in government responses

UN AI report to close gaps in government responses -tech envoy

The body expects to submit a preliminary report by the end of this year and a final one next year.

Apple

Apple beats quarterly estimates as iPhone sales edge up

The tech company has navigated a global smartphone slump better than many of its rivals but faces an uneven economic recovery in China

FTX founder Sam Bankman-Fried

Sam Bankman-Fried convicted of multi-billion dollar FTX fraud

The jury reached the verdict after just over four hours of deliberations

Turkish central bank raises inflation forecasts

Turkish central bank raises inflation forecasts, sees 70%-75% peak

Inflation hit a 24-year peak of 85 per cent last year and surged again in recent months as the lira weakened for a third year in a row

Türkiye may exclude banks from inflation-adjusted accounting

Türkiye may exclude banks from inflation-adjusted accounting, says minister

Türkish companies’ end-2023 balance sheets will be inflation-adjusted, with the practice expected to continue until 2026

LIONEL MESSI

Lionel Messi wins record eighth Ballon d’Or after World Cup success with Argentina

Messi beat out competition from the likes of Erling Haaland and former team-mate Kylian Mbappe for the award

israel crisis puts investors on edge

Israel crisis: Global investors on edge

Some investors also expect a widening crisis could prompt safe-haven buying of Treasuries

economy

Global business cycle transition and its impact on global economy

The US and China showed signs of growing somewhat faster in the third quarter after a pronounced slowdown in the first half of 2023

Li Keqiang

China’s ex-Premier Li Keqiang dies at 68

Li was premier and head of China’s cabinet under Xi for a decade until stepping down from all positions earlier this year

Jordan cancels summit with President Biden, Sisi and Abbas

Jordan cancels summit with President Biden, Sisi and Abbas

The proposed summit between the US President, King Abdullah II and Palestinian and Egyptian leaders was cancelled after Gaza hospital explosion

UAE to allocate $200m to support low-income countries Image courtesy WAM

UAE allocates $200m to support low-income countries, reduce poverty

The announcement was made during the International Monetary and Financial Committee Meeting, organised on the sidelines of the WBG-IMF Annual Meetings In Morocco

IMF

Israel-Hamas conflict is ‘new cloud’ darkening economic outlook: IMF chief

The IMF and the World Bank, which are holding their annual annual meet in Morocco said the ongoing violence in Israel threatened to darken the already tepid global economic outlook

Mukesh Ambani and Gautam Adani

Top 10 richest Indians 2023: Mukesh Ambani pips Gautam Adani

India now boasts 259 billionaires, a remarkable increase of 38 from the previous year

Egypt inflation

Egypt’s inflation at historic high in September, breaks 2017 record

It was the fourth consecutive month of record highs recorded on the central bank website

coal mine

Coal industry faces 1 million job losses from global energy transition: Report

Hundreds of coal mines are expected to close in the coming decades as countries transition to low-carbon energy sources

Gold

Israel-Palestine crisis: Gold soars as investors bolt for safety

Gold rebounded from seven-month lows hit on Friday, but its upside remained capped by strong US economic data