Saudi Arabia to get digital replicas of Mecca, Riyadh
Saudi Arabia will have so-called digital twins, or virtual versions of five cities, including Riyadh, Medina and Mecca. They will be built by South Korean Internet leader Naver Corp. which…
US budget deficit reviewed
Bloomberg reviewed the numbers here and found that one of the main drivers of the increased US budget deficit in 2023 is… revenue. Specifically, there was a $456 billion drop…
Country Garden defaults for the first time
Chinese property developer Country Garden Holdings Co. has defaulted on dollar bonds for the first time, highlighting its distress. The builder, among the world’s most indebted developers, didn’t pay $15.4…
US and coalition attacked over 10 times during the week
US and coalition forces were attacked 10 times on the Iraqi territory and 3 times on the Syrian territory between 17 and 24 October. This was stated during a regular…
World’s largest wealth fund suffered more than $30bn loss
Norway’s Government Pension Fund Global (GPFG), the world’s largest sovereign wealth fund, posted a 374 billion crown ($33.80 billion) loss in the Q3, the fund said on Tuesday, hit by…
Italy is two notches above Junk level – survives for now
Italy remains at two levels above junk at S&P Global Ratings after Giorgia Meloni’s government weathered the first of several possible assessments on its looser deficit prospects. This result is…