Oil stabilises after surge, stocks drop as Middle East crisis fuels jitters
Of particular concern is the possibility of Iran shutting off the Strait of Hormuz, through which around an estimated fifth...
Geostrategy
Global oil demand to dip in 2030, first drop since Covid: IEA
IEA cited sluggish economic growth, global trade tensions, the rise of electric cars and the shift away from crude to...
Economy
Geostrategy
France ‘concerned’ as Tunisia’s president extends powers
Last year, the Tunisian president sacked the government, suspended parliament, and seized a range of powers.
- France's Foreign Minister expressed concern over Tunisian President Kais Saied giving himself sweeping powers over the judiciary
- Thousands of Tunisian took to the street on Sunday demanding democracy and an independent judiciary
Business
Meta settles privacy suit
Facebook-parent has agreed to pay $90 million.
- The agreement was filed Monday in a California court and if approved by a judge would put to rest one of the series of suits alleging the social media giant invaded users' privacy
- The suit alleged the social media giant violated privacy guidelines by tracking its users' visits to outside web pages that contained Facebook "like" buttons
Geostrategy
Russia’s defence minister in Syria for Assad meeting
During a meeting in Damascus, Shoigu "informed the Syrian president about the exercises of the Russian navy in the eastern...
- During in a meeting in Damascus, Shoigu "informed the Syrian president about the exercises of the Russian navy in the eastern Mediterranean"
- Moscow has been a key ally of the Assad regime throughout the Syrian conflict that erupted in 2011 with the repression of anti-government protests
Geostrategy
Israel PM hails ‘new model’ of ties on Bahrain visit
It was the latest diplomatic breakthrough since several Arab states under the 2020 Abraham Accords ended their isolation of Israel.
- Naftali Bennett discussed ‘deepening cooperation’ in meetings with the defense and other ministers
- He also praised Bahrain's ‘moderate’ leaders who are looking out for ‘the prosperity of their own people’
Business
Virgin Galactic re-opens ticket sales for $450,000
Previously, only people who had paid a deposit to be on a waiting list could buy new tickets -- but...
- The company is looking to build on the success of a test mission last July, which saw its founder Richard Branson beat Blue Origin founder Jeff Bezos in their space race.
- In October it announced it was entering an "enhancement period" to make safety upgrades to its fleet, and pushed back a planned test flight with the Italian Air Force to this year.
Geostrategy
Taliban declare day of Soviet exit from Afghanistan as holiday
The Taliban on Tuesday declared February 15 a national holiday to mark the anniversary of the Soviet withdrawal from Afghanistan...
- Forty years of conflict has left Afghanistan one of the world's most impoverished nations, and the Taliban's return on August 15 plunged the country deeper into a crisis
- Thousands marched through Afghan cities on Tuesday to protest against President Joe Biden's decision last week to seize almost half the country's overseas assets -- about $3.5bn
Business
Erdogan invites UAE business leaders to invest in Turkey
Turkish President Recep Tayyip Erdogan called on business leaders in the wealthy United Arab Emirates Tuesday to invest in his country,...
- Erdogan arrived in the UAE capital Abu Dhabi on Monday for a two-day visit to revive relations that were long strained by regional disputes
- Turkey-UAE trade topped 26.4 billion dirhams ($7.2 billion) in the first half of 2021. The UAE hopes to double or triple trade volume with Turkey
Geostrategy
Israel President to visit Turkey to improve strained relations
Israeli President Isaac Herzog is preparing to visit Turkey, his office said Tuesday, in a rare trip following years of...
- A presidency statement said that a senior Turkish delegation, including a top aide to Turkish President Recep Tayyip Erdogan, was due in Israel this week
- Herzog's office had declined to comment on the prospective visit until Tuesday's statement, which gave no indication of a possible date
US farms on alert as several cases of bird flu found
The authorities have placed the sites in quarantine and the birds will be slaughtered to avoid possible spread throughout the...
- The authorities have placed the sites in quarantine and the birds will be slaughtered to avoid possible spread throughout the country
- No cases have been detected in humans so far and the disease does not present an immediate public health threat, authorities said.
Business
Engie posts €4.2bn profit
It pointed to energy prices and good asset performance for the rise.
- The firm posted a net profit of €3.7 billion ($4.2 billion) after a loss of €1.5 billion in 2020
- The emergence of the Covid-19 pandemic had roiled the global economy and energy prices
Most Read
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
Oil stabilises after surge, stocks drop as Middle East crisis fuels jitters
Of particular concern is the possibility of Iran shutting off the Strait of Hormuz, through which around an estimated fifth...
Geostrategy
Company News
Latest News
Unilever annual profit drops 15%
Group revenue dipped 0.8 percent to 59.6 billion euros.
Gucci owner says profit fell 17%
Sales retreated 4 percent to 19.57 billion euros.
Shipping giant Maersk’s profit sinks
The company warned of "uncertainty" due to Houthi attacks.
Most Read
Geostrategy
Civilians among 11 dead in Israel strikes on Syria: monitor
Four students and a woman and her son were among the dead along with an unidentified civilian, the Observatory said,...
- Eleven people including seven civilians" and two Hizbollah fighters were killed in "Israeli bombardment" of a building in the Hamra neighborhood of Homs
- The strikes completely levelled the building in one of the city's most affluent districts, and also hit other targets linked to Iran-backed groups
Uber posts first annual net profit
The company reported $37.3 billion in sales in 2023.
- Uber booked a net profit of $1.9 billion in 2023, compared with a loss of $9.1 billion in 2022, according to a statement
- The company's shares were down slightly in trading on Wednesday, but they have doubled in value in the past year
Geostrategy
Israel PM dismisses Hamas demand for ceasefire, sets sights on Rafah
In Beirut, a senior Hamas official responded, saying Netanyahu's "insistence on continuing the aggression totally confirms that the goal... is...
- Netanyahu has ordered troops to prepare to move on the city of Rafah in Gaza's far south, where more than one million Palestinians have sought refuge
- An official from mediator Egypt told AFP that "a new round of negotiations" would start on Thursday in Cairo aimed at achieving "calm in the Gaza Strip".