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Kuwait News Agency: Fire officials said the fire that broke out in the oil tank area of Kuwait Airport following the drone attack has been extinguished.On March 28, Ukrainian President Volodymyr Zelenskyy stated that although US Secretary of State Marco Rubio denied claims that the US was pressuring Ukraine to hand over the Donbas region in exchange for security guarantees, all the signals he received during negotiations indicated that Ukraine would only receive US security guarantees after withdrawing its troops from the Donbas region. Previously, Zelenskyy had revealed in an interview that the US was pressuring Ukraine to hand over the Donbas region in exchange for security guarantees. Secretary Rubio refuted Zelenskyys remarks, calling them a "lie."March 28 – According to the Wall Street Journal, Israel has begun limiting the use of its most advanced missile interceptors due to depleted stockpiles caused by ongoing Iranian attacks, forcing the IDF to increasingly rely on upgraded but less capable interceptor systems. Recently, two Iranian missiles struck the southern cities of Dimona and Arad after a failed interception attempt using a modified, lower-level system. Israels air defense system has long been considered one of the most advanced in the world, but has so far relied heavily on the Arrow system to counter long-range ballistic missile threats. However, officials are now limiting the use of these high-end interceptors, turning instead to upgraded versions of the Davids Sling (Israels medium- and long-range air defense system) and even the Iron Dome system, which were not originally designed to deal with such threats.On March 28, Iraqi Electricity Ministry spokesman Ahmed Abadi stated that Iran had halted natural gas supplies to southern Iraq since the evening of March 27, after a previous daily supply of 10 million cubic meters. Abadi added that Iran is also currently limiting its natural gas supplies to central Iraq to 10 million cubic meters per day. He noted that the ongoing instability in the region is impacting oil extraction, production, and exports within Iraq. The Iraqi Electricity Ministry is closely monitoring the situation to ensure that Irans restrictions do not affect the fuel supply needed by power plants in Iraq.On March 28, the Yemeni government issued a statement condemning Iran for dragging Yemen into the regional conflict through its supported armed forces. The statement pointed out that Iran, with the help of the Houthi rebels and other forces, is interfering in regional affairs, undermining national sovereignty, and threatening regional security. The Yemeni government believes that the Houthi actions serve Irans regional strategy. The statement warned that such actions will exacerbate Yemens humanitarian crisis and impact food and energy supplies. The government emphasized that the right to decide on war and peace belongs to the state, and any illegal military action must bear the consequences. The Yemeni government called on the people to refuse mobilization for war and urged the international community to increase pressure on the Houthi rebels and support the restoration of national power, stability, and development. Iran has not yet responded to this statement.

Oracle Sales And Earnings Exceed Forecasts Amid Cloud Surge

Aria Thomas

Jun 14, 2022 11:50

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Oracle Corp surpassed Wall Street projections for quarterly profit and sales on Monday, as demand for its cloud products surged in tandem with the industry-wide transition to cloud-based systems.


In extended trading, shares of the Austin, Texas-based corporation whose fourth-quarter sales increased by 5 percent soared by almost 12 percent.


Safra Catz, chief executive officer of Oracle (NYSE:ORCL), stated in a statement, "We think this revenue growth increase signals that our infrastructure business has entered a hyper-growth period."


Oracle, which projected a currency headwind of 5% in the fourth quarter, up from 2% to 3% in the third quarter, forecasts significant revenue growth in its cloud business despite growing inflation and a higher dollar.


Microsoft (NASDAQ:MSFT) in April and Salesforce (NYSE:CRM) Inc in May signaled a solid future for the cloud industry as corporations raise expenditure, but Microsoft reduced its fourth-quarter profit and sales prediction earlier this month owing to unfavorable currency exchange rates.


Oracle predicted a quarterly loss of $100 million in fiscal year 2023 due to the suspension of services in Russia.


However, the business anticipates first-quarter sales growth between 17 and 18 percent, thanks to its $28 billion purchase of healthcare IT provider Cerner Corp. (NASDAQ:CERN).


Oracle's prediction was released on a day when U.S. stock markets plummeted, with the S&P 500 confirming it was in a bear market, as investors feared that aggressive interest rate rises by the Federal Reserve may drive the country into recession.


The business anticipates adjusted first-quarter EPS between $1.04 and $1.08, compared to the average analyst expectation of $1.13.


According to IBES statistics from Refinitiv, revenue for the fourth quarter ended May 31 increased to $11.84 billion, above analysts' average forecast of $11.66 billion.


Excluding adjustments, the company's earnings per share were $1.54, above analysts' predictions of $1.37.