City Sea Financial News

Amid the whirlwind caused by the introduction of Spot Bitcoin ETFs and the looming Bitcoin halving, the cryptocurrency market remains abuzz with excitement and anticipation.

Subscribe to enjoy similar stories. The preliminary results of Azerbaijan’s investigation into the deadly crash of a civilian airliner point to the plane being hit by a Russian antiaircraft missile, or shrapnel from it, said people briefed on the probe. Azerbaijan’s initial findings came quickly after aviation experts said visible damage to the Azerbaijan Airlines flight—carrying 62 passengers and five crew members—was evidence that it was hit by a munition.

Saudi Arabia is considering transferring ownership of national carrier Saudia to the sovereign wealth fund, the Public Investment Fund, two sources familiar with the matter said. The transfer would include other assets owned by Saudia, one of the Middle East's oldest airlines, including its low cost unit, Flyadeal, the sources said.

Egypt's President Abdel Fattah al-Sisi on Saturday urged all to respect Egypt's sovereignty and position in the region following incidents on Friday where drones fell on two Egyptian Red Sea towns. Egyptians should feel safe and the army is able to protect the country, Sisi said at a manufacturing expo in Cairo.

Middle East which could disrupt oil supplies, after reports that the U.S military had struck Iranian targets in Syria. Brent crude futures for December rose 93 cents or roughly 1.1%, to $88.86 a barrel by 1254 GMT.

By Natalie Grover

Saudi Arabia said on Thursday it was investigating reports of grim conditions for migrant workers at Amazon warehouses in the kingdom, denouncing all labour abuse and exploitation as «unacceptable». The human resources and social development ministry said in a statement to AFP that the investigation began before Amnesty International this week reported that Nepalese Amazon workers in Saudi Arabia had suffered «appalling» living conditions, on-the-job safety risks and wage theft. «Any form of labour abuse or exploitation is unacceptable and is comprehensively investigated by the relevant Saudi authorities,» the statement said. «The distressing reports outlined in this case are already the subject of an ongoing investigation.» The Amnesty report published on Tuesday drew from the accounts of 22 men who had worked in warehouses in Riyadh or the Red Sea city of Jeddah going back to 2021. The London-based human rights group accused recruitment agents and two Saudi labour supply companies of deceiving migrant workers who thought they would be employed directly by Amazon and took out steep loans to pay recruitment fees. Upon arrival in Saudi Arabia they encountered «dirty and overcrowded accommodation, sometimes infested with bed bugs» as well as «gruelling» working conditions marked by constant monitoring and inadequate rest, sometimes resulting in injury, Amnesty said. The abuses were so severe they likely amounted to "human trafficking for the purposes of labour exploitation", Amnesty said. The kingdom's «kafala» sponsorship system for foreign workers meant the labourers struggled to leave the warehouse jobs and risked possible arrest for «absconding», Amnesty said, adding that «a few contemplated suicide». Saudi

Russia struck the Ukrainian Black Sea city of Odesa again on Sunday, local officials said, keeping up a barrage of attacks that has damaged critical port infrastructure in southern Ukraine in the past week. At least one person was killed and 22 others wounded in the attack in the early hours. Regional Governor Oleh Kiper said that four children were among those wounded in the blasts, which severely damaged the historic Transfiguration Cathedral, a landmark Orthodox cathedral in the city.

Ukrainian police officers returned to Kherson on Saturday, along with TV and radio services, after Kyiv recaptured the city on Friday. 

Two Bulgarian police officers were killed early Thursday as they tried to stop a bus containing migrants who had entered the country illegally, a senior interior ministry official said.

Zero-knowledge applications platform Aleo has raised $200 million in a solid investment round, pushing the company forward and supporting its goals to develop products and services that encourage and assist developers in building applications on top of its decentralized network.