World Bank lifts 2026 growth forecast, warns of softer demand
The bank expects world GDP growth of 2.6 percent this year, according to its latest global economic prospects report. The...
Economy
Trump tells Cuba to ‘make a deal, before it is too late’
The communist-run island near Florida has been a US foe and ally of Caracas for decades, but Trump has ramped...
Geostrategy
Geostrategy
World Bank estimates Syria reconstruction costs at $216 billion
"The conflict has damaged nearly one-third of Syria’s pre-conflict gross capital stock, with direct physical damages to infrastructure, residential buildings, and...
- Among the categories assessed, infrastructure was the hardest hit, accounting for 48 percent of total damage, equivalent to $52 billion.
- The report estimates costs of physical assets to range between $140 billion and $345 billion, "with a conservative best estimate" of $216 billion.
Business
Jane Birkin’s Hermes handbag up for auction in Abu Dhabi
Paris, France -- A Hermes handbag once belonging to Jane Birkin will be auctioned in Abu Dhabi on December 5,...
- Nicknamed the "Birkin Voyageur", the estimated value of the late actor's black leather bag hovers between $230,000 and $430,000.
- Gifted to Birkin by Hermes in 2003, it is one of four the celebrity owned after auctioning the original to raise money for an AIDS charity in 1994.
Geostrategy
Saudi Crown Prince to meet Trump in Washington next month
Riyadh, Saudi Arabia -- Saudi Arabia's Crown Prince Mohammed bin Salman will meet US President Donald Trump during a three-day...
- The Crown Prince will arrive on November 17 and discuss political, economic and security files with Trump the following day, the source said on condition of anonymity.
- Some media reports suggest Saudi Arabia is hoping for a US security agreement after Trump's executive order this month pledging to defend its neighbor Qatar from attacks.
Business
Iraq bans Roblox game platform citing ‘moral values’
Iraq has banned US gaming platform Roblox over what it described as sexual content, blasphemy and risks of online blackmail...
- The popular site, which lets players build their own games, has repeatedly been accused of failing to protect its youngest players in recent years
- Iraq's communications ministry said late Sunday that it wanted to "protect social order, preserve moral values" and "ensure the safety of internet users in Iraq."
Geostrategy
Lavrov and Rubio discuss Putin-Trump summit, Zelensky seeks invite to the meeting
Russia's top diplomat Sergei Lavrov and US counterpart Marco Rubio discussed preparations for an upcoming summit between Vladimir Putin and...
- Diplomatic efforts to end Russia's three-and-a-half-year invasion have stalled since Trump and Putin met for peace talks in Alaska in August
- The two announced last week that they would meet in Budapest for a second round of talks, but it was not clear whether Zelensky would attend
Geostrategy
Trump says Hamas will be ‘eradicated’ if group breaches Gaza deal with Israel
Trump, however, insisted that American forces would not be involved in confronting against Hamas, saying dozens of countries that have...
- Vice President JD Vance headed to Israel shortly after Trump's comments, joining two top US envoys after weekend violence threatened to wreck the fragile ceasefire
- Trump helped broker the Gaza deal nearly two weeks ago but it has repeatedly come under threat as Israel accuses Hamas of stalling on handing over dead hostages
Geostrategy
Brazil greenlights oil drilling in Amazon region
President Luiz Inacio Lula da Silva has come under fire from conservationists who argue his oil expansion plans clash with...
- Brazil will host COP30 climate talks in the Amazon city of Belem next month.
- Petrobras said drilling in the Foz de Amazonas region will begin immediately and will last for five months, after its five-year battle to get permission to explore the area.
Geostrategy
Southern EU countries call for ‘immediate release’ of Gaza aid
Countries of the so-called MED9 group -- Croatia, Cyprus, France, Greece, Italy, Malta, Portugal, Slovenia and Spain -- met on...
- "There is absolutely no excuse for anyone to block such humanitarian aid," Slovenian Prime Minister Robert Golob said.
- The reopening of the Rafah border crossing between the Gaza Strip and Egypt remains on hold despite calls from the UN and aid groups.
Geostrategy
Trial opens in Klarna’s $8.3 billion lawsuit against Google
Stockholm, Sweden -- A Swedish court began hearing arguments Monday in a lawsuit brought by Swedish price comparison site Pricerunner,...
- The Swedish tech startup filed its suit with the Patent and Market Court in Stockholm in 2022.
- It filed the suit after EU General Court ruling that Google "breached EU antitrust laws by manipulating search results in favor of their own comparison shopping services".
Geostrategy
US soliciting new bids for Moon mission amid SpaceX delays: NASA chief
The US space agency's Artemis program hopes to return humans to the Moon as China forges ahead with a rival...
- Blue Origin is the Jeff Bezos-founded rival of SpaceX. That company currently has the contract for the fifth planned mission of the multibillion-dollar Artemis program.
- US President Donald Trump's second term in the White House has seen the administration pile pressure on NASA to accelerate its progress.
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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
World Bank lifts 2026 growth forecast, warns of softer demand
The bank expects world GDP growth of 2.6 percent this year, according to its latest global economic prospects report. The...
Economy
Company News
Latest News
Kuwait signs $4.1 billion deal with China to build port
Kuwait City, Kuwait -- Kuwait has signed a deal worth $4.1 billion with China to complete the construction of a...
Business
Ex-Israeli PM accuses Netanyahu of ‘treason’ over alleged Qatar funding to his aides
Former Israeli premier Naftali Bennett, widely regarded as a leading contender in next year's legislative elections, called on Monday for...
Geostrategy
Tech stocks lead Wall Street higher, gold hits fresh record
Tech firms also led the rally in Asia, with South Korea's Samsung Electronics, Taiwan's TSMC and Japan's Renesas among the...
Business
Most Read
Economy
Pressure on Morocco to deliver as Africa Cup of Nations kicks off
Morocco carry a huge weight of expectation into their opening game at the Africa Cup of Nations on Sunday as...
- Senegal, Ivory Coast, Mohamed Salah's Egypt and a Nigeria side led by Victor Osimhen are the biggest rivals for Morocco at the AFCON
- Morocco, Africa's best team in the FIFA rankings in 11th place, kick off the tournament on Sunday against minnows Comoros
Geostrategy
As diplomats gather in Miami, Kremlin denies three-way US-Ukraine-Russia talks in preparation
The Kremlin on Sunday denied that three-way talks between Ukraine, Russia and the United States were on the cards, as...
- Russian envoy Kirill Dmitriev arrived in Miami, where Ukrainian and European teams have also been gathering for the negotiations
- The top Kremlin aide also told Russian journalists Sunday that he had "not seen" the revised US proposal to end the conflict
Geostrategy
Israel’s security cabinet approves 19 new settlements in West Bank, a move to scuttle ‘a Palestinian state’
The decision brings the total number of settlements approved over the past three years to 69, according to a statement...
- The latest approvals come days after the UN said the expansion of Israeli settlements in the West Bank had reached its highest level since at least 2017.
- Excluding east Jerusalem, which was occupied and annexed by Israel in 1967, more than 500,000 Israelis live in the West Bank.