US, China seek to extend trade truce with London talks
After a round of talks in Geneva last month, the United States and China will sit down at the negotiating...
Economy
Iran says no sanctions relief in US nuclear proposal
Tehran, Iran -- Iran's parliament speaker said on Sunday that the latest US proposal for a nuclear deal does not...
Geostrategy
Business
Louvre Abu Dhabi license extended until 2047
The Louvre Abu Dhabi's license has been extended by 10 years to 2047, the French presidency said Friday during a...
- The French president and Abu Dhabi Crown Prince Sheikh Mohammed bin Zayed agreed to the "extension for 10 years of the partnership over the Louvre Abu Dhabi
- The move will see Abu Dhabi pay 165 million euros ($186 million) between 2022 and 2023 for the extra decade
Business
UAE to buy 80 French Rafale fighter jets
The Rafale order is the biggest made internationally for the aircraft since it entered into service in 2004.
- The UAE has also agreed to buy 12 Caracal military transport helicopters
- The Middle-Eastern country is one of the French defense industry's biggest customers
Geostrategy
Lebanese minister who sparked Gulf row to resign
The expected breakthrough coincided with a visit to the Gulf by French President Emmanuel Macron, who has spearheaded international efforts...
- A senior official told AFP that Kordahi "called President Michel Aoun last night to inform him of his decision to resign" on Friday
- His resignation has been on the table for weeks and is expected to help unlock a political and diplomatic crisis that has crippled Lebanon's fledgling cabinet since October
Economy
IMF says chief economist taking top leadership role
Gopinath will succeed Geoffrey Okamoto as first deputy managing director, serving under IMF chief Kristalina Georgieva.
- Gopinath will succeed Geoffrey Okamoto as first deputy managing director, serving under IMF chief Kristalina Georgieva
- Gopinath, who was appointed to her current role in October 2018, was due to return to her position at Harvard University in January but will now leave the university
Arts & Culture
Palestine football team eyes Amputee World Cup
The team is training at the Palestine Stadium in Gaza City under the supervision of the International Committee of the...
- The players in the team are training for qualifying matches to be held in March 2022 in Iran
- If the team succeeds, it will go on to the Amputee Football World Cup, slated to be held in Turkey in late 2022
Business
OPEC+ to increase output in January
The OPEC+ alliance led by Saudi Arabia and Russia had so far resisted US-led pressure to significantly boost output to...
- Observers had expected the club to opt for a freeze in production for January, particularly after the emergence of the Omicron variant
- But, the 13 members of OPEC and their 10 allies decided to stick with a modest increase in output of 400,000 barrels per day every month
Business
NASA awards $415m contracts for commercial space stations
Jeff Bezos' Blue Origin, aerospace company Nanoracks and defense contractor Northrop Grumman won $130 million, $160 million, and $125.6 million...
- The US space agency is increasingly turning to private industry to develop hardware it once made itself
- This helps it cut costs and focus on goals that include building habitats on the Moon and preparing for a crewed mission to Mars
Geostrategy
Ankara urges Europe rights body to avoid any decision against Turkey
Turkey on Thursday called on the Council of Europe to avoid punishing Turkey ahead of a decision this week on...
- Osman Kavala, a 64-year-old civil society leader and businessman, has languished in jail without being convicted for more than four years
- An Istanbul court ordered Kavala to stay in jail on November 26, even after his case led to a diplomatic standoff between Turkey and 10 Western embassies including the US
Economy
67 countries reach ‘historic’ deal on trade in services at WTO
Washington hailed Thursday's deal in a statement, saying it would "improve the transparency and fairness of processes for obtaining authorisations...
- The countries, which account for just over a third of all WTO members, concluded the accord after four years of negotiations
- WTO chief Ngozi Okonjo-Iweala hailed the deal as "historic", saying it would lower the costs associated with the services trade by as much as $150 billion each year
Economy
Escaping slow death in Beirut, Lebanese embrace farm life
Lebanon's unprecedented economic crisis and the coronavirus pandemic have dimmed the cosmopolitan appeal of the capital.
- Lebanon's unprecedented economic crisis and the coronavirus pandemic have dimmed the cosmopolitan appeal of the capital
- A long-standing trend towards rapid urbanisation seems to be slowing partly due to diminishing job prospects in major cities
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
US, China seek to extend trade truce with London talks
After a round of talks in Geneva last month, the United States and China will sit down at the negotiating...
Economy
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ASML profit soars to US$8.5bn
It has shrugged off geopolitical tensions to post high profits.
Business
US strikes two Houthi missiles in Yemen: military
US and Britain have carried out two rounds of joint strikes aimed at reducing the Houthis' ability to target shipping,...
Geostrategy
Trump closes in on Biden rematch after New Hampshire win
Despite now adding New Hampshire to his previous easy victory in Iowa, Trump kept to his hard-right messaging, with no...
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Business
Mocktail mania in Saudi, where dry January lasts all year
Riyadh, Saudi Arabia - The concept was controversial: a pop-up bar offering bellinis and spritzes that, while non-alcoholic, were served in...
- Saudis say the trend is consistent with a broader push by Crown Prince Mohammed bin Salman to transform his oil-dependent nation into a foreigner-friendly business
- King Abdulaziz enacted Saudi Arabia's alcohol ban in the early 1950s, not long after an incident in which one of his sons got drunk and, in a rage, shot dead a British diplomat
Geostrategy
Houthis order all US, British UN staff to leave Yemen within a month
The expulsion followed joint strikes by the United States and Britain against the Houthis aimed at ending the group's attacks...
- Last week, Washington redesignated the Houthis a "global terrorist group", having lifted it in 2021 to ease aid delivery to the impoverished country.
- The Houthis have fought a nearly decade-long civil war against government forces, who are backed by Saudi Arabia.
Business
European Union probes Lufthansa’s proposed ITA Airways stake
The European Commission said it had "preliminary concerns that the transaction may reduce competition in the market for passenger air...
- Lufthansa, one of Europe's biggest carriers, last year agreed to pay 325 million euros ($350 million) for a 41 percent stake in ITA
- The deal provided the German company various options to increase its stake or acquire ITA Airways outright at a later date