Japan plans ‘world first’ deep-sea mineral extraction from Jan
Tokyo, Japan -- Japan will from January attempt to extract rare earth minerals from the ocean floor in the deepest...
Geostrategy
Netanyahu vows to uproot Hamas as ceasefire proposals are discussed
The Israeli leader had yet to comment on US President Donald Trump's claim that Israel had backed a plan for...
Geostrategy
Economy
Algeria president sacks central bank chief
Algerian President Abdelmadjid Tebboune on Monday sacked central bank chief Rostom Fadli, in office for less than two years, the...
- Fadli had taken office in June 2020 as interim head of the central bank of Africa's fourth-biggest economy, later being confirmed in the role
- Algeria is a rentier economy dependent on oil exports for 90 percent of its foreign income, and therefore vulnerable to price movements
Economy
Sri Lanka inflation hit seventh consecutive record high in April
Hammered by a foreign exchange crisis, the country's 22 million people have been enduring acute shortages of essentials.
- National Consumer Price Index rose 33.8 percent year-on-year in April, more than six times the 5.5 percent inflation in 2021.
- Inflation is likely to rise further in May as fuel price hikes of 35 percent for petrol and 65 percent for diesel.
Business
Iran signs multiple trade deals with Oman during president’s visit
A delegation of 50 Iranian businessmen travelled to Oman last week, with Iran's minister for roads and urban development announcing...
- Both the countries signed 12 memoranda of understanding including in the fields of oil and gas.
- Oman is seeking to import gas from Iran by building an offshore pipeline between the two countries.
Economy
Saudi announces weekly international flights to NEOM megacity
Saudi Arabia's main airline will next month start operating weekly international flights from the kingdom's planned futuristic megacity known as...
- The $500 billion Red Sea project is part of de facto ruler Crown Prince Mohammed bin Salman's Vision 2030 plan to diversify Saudi Arabia's oil-dependent economy
- It has been billed as a futuristic cityscape evocative of a sci-fi blockbuster with everything from flying taxis to robot maids
Geostrategy
Zelensky tells Davos: Send us weapons, stop Russia trade
Appearing by video link, Zelensky delivered the headline speech to the first World Economic Forum to be held in the...
- Russian business and political leaders, who used to participate in debates and mingle with other A-listers at champagne parties, were barred by organisers from attending this year.
- While the United States, Britain and Canada have moved to ban Russian oil and gas, the European Union has been divided over imposing similar measures.
Business
13 countries to join new Asia-Pacific trade framework: Biden
"The US and Japan, together with 11 other nations will be launching" the Indo-Pacific Economic Framework for Prosperity, Biden said...
- Joe Biden will make a formal rollout of IPEF later Monday with 13 countries joining the initiative which aims to offer US allies an alternative to China in Asia-Pacific
- China has criticized IPEF as an attempt to create a closed club. Biden's national security advisor rejected the claim saying that, "it is an open platform"
Geostrategy
Sandstorm forces closure of Iraqi airports, public buildings
Iraq closed public buildings and temporarily shut airports Monday as another sandstorm -- the ninth since mid-April -- hit the...
- Prime Minister Mustafa al-Kadhemi ordered all work to cease in public institutions, with the exception of health facilities and security agencies.
- The environment ministry has warned that over the next two decades, Iraq could endure an average of 272 days of sandstorms per year, rising to above 300 by 2050.
Economy
More than 100 million people forcibly displaced: UN
Russia's war in Ukraine has pushed the number of forcibly displaced people around the world above 100 million for the...
- UNHCR said the numbers of forcibly displaced people rose towards 90 million by the end of 2021
- The figures combine refugees, asylum-seekers, as well as more than 50 million people displaced inside their own countries
Geostrategy
Hamas warns against ‘flag march’ in east Jerusalem
At a speech marking a year since an 11-day flare-up in the conflict between Israel and the group that rules...
- The controversial so-called "flag march" is due to take place next week to mark Jerusalem Day, which commemorates the unification of the city after Israel annexed east Jerusalem
- "I warn the enemy against committing such crimes," Haniyeh said
Business
Trial of two Europeans for Iraq antiquity theft adjourned
An Iraqi court on Sunday adjourned for two weeks the trial of a Briton and a German man accused of...
- James Fitton, 66, a retired British geologist, and Volker Waldmann, 60, a Berlin psychologist, have been in custody since they were arrested on March 20 at Baghdad airport
- The trial was adjourned until June 6 to allow time for further investigations, at the request of Waldmann's defense lawyer, Furat Kuba
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Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
Japan plans ‘world first’ deep-sea mineral extraction from Jan
Tokyo, Japan -- Japan will from January attempt to extract rare earth minerals from the ocean floor in the deepest...
Geostrategy
Company News
Latest News
Endangered wild horses return to Kazakhstan
First documented in 1881, Przewalski's horses have narrowly avoided extinction thanks to breeding programs at zoos worldwide.
Science
Now more accessible, Bitcoin strikes record high above $69,000
Bitcoin has enjoyed an unbridled rise since the approval of a new type of investment indexed to the cryptocurrency. Since...
Business
Food dispatch app Uber Eats launches robot deliveries in Tokyo
Uber Eats' boxy robots have square headlights for eyes and three wheels on each side to navigate kerbs as they...
Most Read
Above-normal temperatures for March-May due to El Nino: UN
El Nino, the large-scale warming of surface temperatures in the central and eastern equatorial Pacific Ocean, typically has the greatest...
- Though El Nino is now gradually weakening, its impact will continue over the coming months by fuelling the heat trapped in the atmosphere by greenhouse gases
- It is a naturally occurring climate pattern typically associated with increased heat worldwide, as well as drought in some parts of the world and heavy rains elsewhere
Geostrategy
Gaza detainees released by Israel report abuse, says UNRWA
UNRWA chief's comments capped a tumultuous day during which Israel and UNRWA have traded accusations, with Israel accusing the agency...
- Detainees subjected to a "broad range of ill treatment" including threats of electrocution
- UNRWA said Israeli authorities had "detained several of its staff from the Gaza Strip"
JetBlue, Spirit Airlines cancel merger
Earlier, a federal judge ruled it violated US antitrust law.
- Shares of Spirit slumped 14.5 percent in early trading Monday, while JetBlue rose 3.9 percent
- Spirit said it has enlisted advisors on efforts to refinance and reduce debt payments