• Houthis display military strength two days after Saudi talk
    Armored cars, missiles and thousands of uniformed fighters filed past Houthi dignitaries in a show of strength from the Iran-backed group, as a military jet buzzed overhead. The parade took place two days after a Houthi delegation left Riyadh following "positive" but inconclusive talks aimed at ending a war that has ravaged the Arabian Peninsula's poorest country.

    The northern fighters took Sanaa in September 2014 and threatened to overrun the country, prompting a Saudi-led international military intervention from March 2015.

    The war has left hundreds of thousands dead, through direct and indirect causes, and displaced millions of people in what the UN calls one of the world's worst humanitarian crises.

  • The UAE’s successful accomplishments in the space sector not only underscore the nation’s commitment to the space sector but also reinforce the UAE’s status as a regional and global leader in space exploration, says Dubai Crown Prince Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum.
    "With the successful accomplishment of Sultan Al Neyadi’s mission to space, the Mohammed bin Rashid Space Centre has completed another momentous achievement. The 'Zayed 2' mission reflects our leaders' boundless vision and marks a remarkable milestone in the UAE's space journey,” adds Sheikh Hamdan, who is also Chairman of The Executive Council of Dubai.
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    First Ukraine grain ship since Russian blockade reaches Istanbul
    Ukrainian officials said the Palau-flagged Resilient Africa vessel was carrying 3,000 tons of wheat when it left Ukraine's Chornomorsk port on Tuesday. It was destined for Israel, according to marine traffic websites, representing the first successful Black Sea voyage since Russia pulled out of a UN-backed deal to export Ukrainian grain.
  • Stocks fall after Federal Reserve says it may hike interest rates
    Global stocks sank after the US Federal Reserve hinted it could hike interest rates again this year to tame inflation and other central banks warned they were not done either. London stocks bucked that trend, however, after the Bank of England held interest rates steady after 14 hikes.

    In a move dubbed a "hawkish hold" by analysts, the Fed held borrowing costs but indicated another hike is likely in 2023 to tackle US inflation.

    Sweden's Riksbank and Norway's Norges Bank each raised their key interest rates by a quarter-point.

  • Sports shift economic goalposts for Middle East

    In a bid to diversify their economies, Middle Eastern nations are turning to the sports industry, marked by significant investments in global tournaments and infrastructure.
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    US commander ‘concerned’ over Iran-Russia drone tech sharing
    Modified Iranian drones used by Moscow in its war in Ukraine could feed back to Iran, which in turn may employ them in its campaign to prop up Syrian President Bashar al-Assad, Lieutenant General Alexus Grynkewich told a briefing in Abu Dhabi. Washington accuses Iran of supplying Moscow with drones for use in Ukraine, a...
  • End of era as Toshiba completes $13.5 bn offer to go private
    Pressure from activist shareholders and a takeover offer from private equity group CVC prompted aborted attempts to split the company first into three, and then into two. "Toshiba Group will now take a major step toward a new future with a new shareholder," CEO Taro Shimada said in a statement Thursday.

    Remaining shareholders will be "squeezed out" after the $13.5-billion tender offer and Toshiba shares will be delisted after more than 70 years on the stock market, Toshiba said

    Toshiba traces its roots back to 1875 and evolved into a vast conglomerate in the 20th century synonymous with Japan's postwar economic revival and its technological innovation

  •
    Syria’s Bashar Al-Assad visits China seeking funds
    China becomes one of only a handful of countries outside the Middle East that Assad has visited since the 2011 start of a civil war that has since killed more than half a million people, displaced millions more, and battered Syria's infrastructure and industry. Assad also becomes the latest in a string of leaders ostracised...
  • Turkey expected to hike interest rate to 20-year high
    The mercurial Turkish leader performed one of his trademark policy reversals after winning a difficult re-election in May. The vote came during Turkey's worst economic crisis in decades -- one that analysts universally blamed on Erdogan's unorthodox conviction that high interest rates contribute to inflation.

    Erdogan called high rates "the mother and father of all evil" and spent years pushing the central bank to lower borrowing costs to speed up economic growth

    Inflation rate approached 60 percent in August and is climbing much faster than projected by Erdogan's new economic team of former Wall Street executives

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  • "With the successful accomplishment of Sultan Al Neyadi’s mission to space, the Mohammed bin Rashid Space Centre has completed another momentous achievement. The 'Zayed 2' mission reflects...
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