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Tech Tiramisu???

Elon Musk Hints at A Possible ‘Tesla Phone’ as A Retaliation to Apple?

The owner of Twitter and the richest man in the world has hinted that he may enter the phone business amid worries that Apple and Google would remove the social media platform from their app stores over concerns about content moderation.?

Tesla, a manufacturer of electric vehicles, is said to be developing a cutting-edge smartphone, but Mr. Musk, the company's CEO, has reportedly kept quiet about the endeavor.?

He has since however hinted that a phone might be on the horizon.?

The issue was brought up on Twitter by American political pundit Liz Wheeler, who said that "half the country" would gladly abandon Apple's iPhone and Android phones in favor of a device created by Mr. Musk.

Mr. Musk responded, "but, yes, if there is no other choice, I will make an alternative phone" expressing his hope that Twitter won't end up being banned by Apple and Google.?

He has reinstated previously barred accounts like that of former US President Donald Trump to increase Twitter's tolerance for free speech.

Social Soup ???

Iran Calls for US to be Banned From the World Cup After The US Soccer Federation Changed The Iran Flag on Social Media in Support of Protestors

Iran's state-run media has demanded that the United States be disqualified from the 2022 World Cup after the USSF changed Iran's flag on its social media channels to indicate support for Iranian demonstrators.?

On its official Twitter, Instagram, and Facebook profiles, the federation has momentarily removed the Islamic Republic of Iran's flag. The Iranian flag, which simply consists of its green, white, and red colors, was depicted in a now-deleted image of the Group B standings that was posted on Saturday.?

On Sunday, US Soccer told CNN that it had always intended to return to the original flag after changing it for 24 hours to show "support for the women in Iran fighting for basic human rights."

The change "was a one-time graphic," US Soccer told CNN. "We have the main flag on our website and other places." The emblem is currently back on the flag on US Soccer's social media channels.

According to Iranian state media, the United States should be immediately disqualified from the competition and suspended for 10 games for using a "distorted image" of the national flag. FIFA is yet to respond.?

Profit colada??

Saudi-listed Almarai to invest $1.12bln to expand poultry production

Almarai Company will invest 4.5 billion Saudi riyals ($1.12 billion) in poultry production in Al-Shamli governorate, Hail Region. In a press statement, the Saudi stock exchange-listed company said it will invest in establishing a factory and new farms to produce more than 150 million birds a year, equivalent to 130,000 tons of poultry products.

“This investment will provide 4,000 new job opportunities and contribute to local content development, which will reflect positively on the Hail region and the rest of the Kingdom, with additional revenues estimated at 2 billion riyals annually,” stated Almarai CEO Abdullah bin Nasser Al-Bader.

The company announced in May 2021 that it would invest 6.6 billion riyals to expand in the poultry sector, intending to double its market share and expand geographically.

The company reported a net profit after Zakat and tax of 1.40 billion riyals in the first nine months of 2022, up 9.94% from SAR 1.27 billion in the year-earlier period.

On the other hand, net profit rose 13.22% year-on-year to SAR 463.17 million in Q3 2022.

Stock-Berry??

Gulf stocks: Qatar leads higher, Abu Dhabi extends losses

On Tuesday, Qatar's stock market ended three sessions of losses and outperformed the Gulf region, while Abu Dhabi's stocks extended losses due to price corrections.

Qatar's index climbed 1.5% as most stocks traded in positive territory, including Qatar Islamic Bank, which gained 2.2%.

The rebound in the Qatari stock market came as the country signed a long-term natural gas delivery agreement with Germany, Fadi Reyad, Chief Market Analyst at CAPEX.com.

QatarEnergy and ConocoPhillips signed two 15-year sales and purchase agreements on Tuesday for the export of Qatari liquefied natural gas (LNG) to Germany.

To compete with Russia, which is Germany's biggest gas supplier, Qatar Energy has been negotiating long-term LNG deals with German utility firms for much of this year.

Saudi Arabia's benchmark index added 0.1%, helped by a 3.1% jump in oil giant Saudi Aramco.

Crude prices, a key catalyst for the Gulf's financial markets, jumped by 3% in hopes of relaxing China's strict COVID-19 controls after rare protests in Chinese cities over the weekend.

Attempting to ease unpopular "zero-COVID" curbs, Chinese health officials said on Tuesday the country plans to speed up COVID-19 vaccinations for elderly people.

Dubai's main share index finished 0.5% higher, led by a 3% rise in budget airliner Air Arabia.

In Abu Dhabi, the index eased 0.1%, hit by a 0.6% decrease in the country's biggest lender First Abu Dhabi Bank.

The Abu Dhabi bourse continued to see downward pressures in a second wave of price corrections since reaching a record high at the beginning of the month, said Reyad.

MarketSorbet ??

The dollar softens against sterling

As market sentiment improved on hopes that China would ease its COVID-19 curbs, the sterling strengthened against the dollar Tuesday. Last week, the pound reached a three-month high of $1.2153, up 0.45% against the dollar. It has also gained a few pence against the euro, which fell 0.1% to 86.46 pence in recent weeks as risk sentiment has changed. Following a rally in Chinese shares and the yuan, global shares and commodities rallied on Tuesday as investors bet that civil unrest would ease China's COVID-19 curbs and cheered the relaxation of fundraising regulations for developers. Inflation figures from Spain and Germany's most populous province further improved sentiment. Juckes also noted there were several psychological levels through which currencies were struggling to trade. In recent months, the euro/sterling has hit around 85.7 pence several times before rebounding, while the pound is trying to break past $1.22 and the euro $1.05. British investors are also keeping an eye on Andrew Bailey's appearance before House of Lord lawmakers. A shift in rhetoric may occur ahead of the Bank of England meeting in two weeks, so this is on the off chance that there is one.

see you next Wednesday :)