Magritte’s ‘Empire of Light’ to fetch nearly $100m at New York auction
New York, United States -- With a Magritte painting estimated to sell for nearly $100 million, drawings by pop artist Keith...
Arts & Culture
Lebanon economic losses top $5 billion in year of clashes: World Bank
Beirut, Lebanon -- More than a year of clashes that recently escalated into war have cost Lebanon more than $5 billion...
Geostrategy
Geostrategy
Two ships hit off rebel-held Yemeni region: maritime agencies
The Houthis said in a statement they had targeted the Blue Lagoon with "missiles and drones, and it was directly...
- One attack was claimed by Yemen's Iran-backed Houthi rebels who have targeted ships they say are linked to Israel
- The Joint Maritime Information Center (JMIC) said the first vessel, identified as Panama-flagged tanker Blue Lagoon I, was hit by two ballistic missiles
Geostrategy
Biden, unions pile pressure on Netanyahu for hostage release deal
Jerusalem -- Pressure mounted Monday on Israeli Prime Minister Benjamin Netanyahu as a major strike was held and US President...
- A strike announced by the main trade union seeking a deal to secure the remaining captives' release had brought parts of the country to a standstill.
- Alongside the surging domestic anger, diplomatic pressure has also grown, with the US president on Monday delivering some of his strongest criticism of Netanyahu.
Business
Bahrain to introduce minimum tax for large multinationals
Beginning in January 2025, the measure will place a minimum tax of 15 percent on revenues over 750 million euros ($830...
- A small oil producer and non-OPEC member, Bahrain has sought in recent years to diversify its revenues, which, like its Gulf neighbors, is largely dependent on hydrocarbons.
- The UAE last year began taxing the profits of companies worth more than 375,000 dirhams (roughly 91,500 euros) at 9 percent.
Israel set for general strike after Gaza hostages found dead
A nationwide strike aimed at ramping up pressure on Israel's government to secure the release of the remaining hostages in...
- Of the 251 hostages seized during Hamas's October 7 attack on Israel, 97 remain captive
- At least 637 Palestinians have been killed in the West Bank by Israeli troops
Business
Major Qatari plant to double solar capacity by 2030: Energyminister
Doha, Qatar -- A large new solar plant planned in Qatar will double the Gulf emirate's previously projected renewable energy capacity...
- The plant will be established in Dukhan area will produce 2,000 megawatts, which is twice more than the capacity of Qatar's production of solar energy of the current projects.
- The energy minister also announced plans to more than double Qatar's urea production making the country the largest producer of the fertilizer in the world by the end of the decade
Geostrategy
Israel set for general strike after Gaza hostages found dead
"I have come to the conclusion that only our intervention can shake those who need to be shaken," Arnon bar...
- Qatar-based Hamas official Izzat al-Rishq said the six hostages were "killed by Zionist (Israeli) bombing", an accusation the military denied.
- A senior Hamas official told AFP on condition of anonymity that "some" of the six had been "approved" for release in a potential hostage-prisoner swap.
Business
Countries where the X social network is banned and why
Paris, France - With its ban of X, which went into effect on Saturday, Brazil joins a small club of countries...
- Beyond permanent bans, some nations have temporarily restricted access to X, formerly Twitter, which has often been used by political dissidents to communicate
- These have included Egypt in 2011 during the Arab Spring uprisings, Turkey in 2014 and 2023, and Uzbekistan around that country's 2021 presidential election
Bosnia and Egypt clinch crucial wins in Paralympic sitting volleyball
Since first qualifying for the Paralympics in 2000, Bosnia have never finished outside of the podium and they made a...
- Bosnia, the two-time Paralympic champions in the event, ensured their progression to the semi-finals with a thrilling 3-2 win against Kazakhstan
- Later in the same pool, Egypt raced to a straight-sets win against France to secure their first win of the tournament
Geostrategy
COP29 finance draft: Arab nations ask developed nations to commit $441bn
Paris, France -- The UN has published a draft on climate financing due to be presented at the COP29 in November,...
- The document is the basis for negotiating an accord that is due to be reached at COP29 in Baku under Azerbaijan's presidency.
- The EU said the "collective goal can only be reached if Parties with high GHG-emissions and economic capabilities join the effort."
Geostrategy
West Bank city ‘cut off from the world’ as Israeli assault drags on
Jenin governor Kamal Abu al-Rub told AFP that even he does not know exactly what is happening inside the camp,...
- "Neither the civil defense, nor the ambulances, nor the journalists can go and see what is happening there."
- The United Nations said on Wednesday that at least 637 Palestinians had been killed in the territory by Israeli troops or settlers since the Gaza war began.
Magritte’s ‘Empire of Light’ to fetch nearly $100m at New York auction
New York, United States -- With a Magritte painting estimated to sell for nearly $100 million, drawings by pop artist Keith...
Arts & Culture
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Saudis part ways with coach Mancini after a run of poor results
Riyadh, Saudi Arabia -- Saudi Arabia's football body said it was ending the contract of national coach Roberto Mancini after 14...
Arts & Culture
Israel and Hamas near ceasefire talks, spy chief heads to Qatar as truce momentum builds
Israel’s Mossad chief will travel to Qatar for ceasefire negotiations as Hamas signals readiness to halt fighting, contingent on Israel...
Geostrategy
Israel to send negotiators to new Gaza truce talks in Qatar
The head of Israel's Mossad spy agency, David Barnea, will head to Qatari capital Doha on Sunday, the Israeli prime...
Geostrategy
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Business
Troubled Boeing faces investors and awaits strike vote
Boeing, the beleaguered aviation giant announces what is expected to be its biggest quarterly loss in four years, and striking...
- Analysts estimate a loss of US$6.1 billion, its biggest since the fourth quarter of 2020
- On October 15, Boeing announced it plans to raise up to US$25 billion to navigate the period
Updates: Israel confirms killing of Hezbollah leader’s successor as Blinken presses for Gaza truce
US Secretary of State Antony Blinken urged Israel to reach a ceasefire in Gaza, while Israeli airstrikes continued targeting Hezbollah's...
- A member of Hezbollah's decision-making body and a distant relative of Nasrallah, Safieddine was out of contact since Israeli strikes on Beirut weeks ago,
- Grey-bearded and bespectacled, Safieddine bore a striking resemblance to his distant cousin Nasrallah, but was several years his junior, aged in his late 50s or early 60s
Economy
IMF predicts slightly slower global growth in 2024 and 2025
In its new World Economic Outlook (WEO) report, the International Monetary Fund also estimates that global inflation will continue to...
- "In our baseline analysis, in advanced economies (inflation) will be back at central bank targets in 2025," he said.
- The IMF expects growth in the Middle East and Central Asia to pick up slightly to 2.4% in 2024, before jumping to 3.9% in 2025 as the effect of oil and shipping disruptions fades.