OPEC+ sticks to oil output plan after Trump’s price demand
In a bid to boost prices, the Organization of the Petroleum Exporting Countries (OPEC) headed by Saudi Arabia and Russian-led allies...
Business
Maysa Sabreen made first woman chief of Syrian central bank
Damascus, Syria -- Syrian authorities have appointed Maysa Sabreen as interim central bank governor, a bank official told AFP on Tuesday,...
Economy
Economy
No peak oil demand ‘on the horizon’, phaseout a ‘fantasy’: OPEC
Paris, France - OPEC said Tuesday that phasing out oil was a "fantasy", as the Saudi-led cartel forecast that demand would...
- The oil cartel's prediction runs counter to the assessment of the Paris-based International Energy Agency, which sees demand for fossil fuels peaking this decade
- In the group's annual World Oil Outlook (WOO), OPEC Secretary General Haitham Al Ghais said oil and gas make up well over half of the energy mix today
Business
UAE’s e& bends to European Union foreign subsidy rules
Brussels, Belgium -- The European Commission gave the green light Tuesday for an Emirati group to acquire the assets of a...
- The European Commission approved Emirates Telecommunications' acquisition of PPF Telecom's assets after securing concessions to avoid competition distortion.
- The deal, scrutinized under new EU rules on foreign subsidies, ensures fair competition by limiting future state aid and financing in the EU.
Geostrategy
UN chief warns Lebanon on ‘brink’ as world leaders gather
Top United Nations officials have expressed deep concerns over the violent Lebanon-Israeli situation that has resulted in the deaths of...
- Lebanese authorities say Israeli strikes killed 558 people - 50 of them children
- "Lebanon is at the brink," UN Secretary-General said
Lebanon flights suspended as Hezbollah-Israel tensions continue to spiral out of control
Major airlines such as Emirates, Qatar Airways and Air France have suspended growing numbers of flights to Lebanon as tensions...
- United Arab Emirates-based Emirates announced the temporary suspension of its flights to Beirut
- Air France on Tuesday extended the suspension of its Beirut flights until October 1
Geostrategy
Nearly 500 dead in Israeli strikes on Hezbollah strongholds in Lebanon
Israeli air strikes on Lebanon killed at least 492 people on Monday, including 35 children, Lebanon's health ministry said, marking...
- Israel said it killed a "large number" of Hezbollah militants when it hit about 1,600 sites in southern and eastern Lebanon
- EU foreign affairs chief Josep Borrell warned that Israel and Hezbollah were "almost in full-fledged war"
Economy
Economy – the biggest loser in the Israeli-Arab war
The sheer scale of destruction from the deadliest war in Gaza's history has made the road to recovery difficult to...
- With bombs still raining down on Gaza, many of the Palestinian territory's 2.4 million people face re-construction challenges
- 11 months of war in Gaza has battered Israel's economy, and poverty is now threatening communities
Business
Boeing lifts wage hike to 30%Â
The 30% general wage hike improves upon the 25% in the earlier offer.
- The International Association of Machinists and Aerospace Workers District 751 walked out on September 13, in a strike involving 33,000 workers in the Pacific
- The 30 percent general wage increase improves upon the 25 percent in the earlier offer, which was initially endorsed by IAM leaders
Geostrategy
Hamas weakened, not crushed a year into war with Israel
The Palestinian group has not been crushed outright, and a year on from its unprecedented attack on Israel, an end...
- In one of the biggest blows to the movement since it was founded in 1987 during the Palestinian intifada uprising, Hamas's leader Ismail Haniyeh was assassinated in Iran on July 31
- On the Gaza battlefield, Israeli forces have aggressively pursued both Sinwar and Hamas military chief Mohammed Deif, whom Israel says it killed in an air strike
Geostrategy
World leaders gather at UN as Mideast tensions explode
Escalating clashes between Israel and Hezbollah threatened to overshadow US President Joe Biden's final appearance at the UN's signature annual...
- UN Security Council member France called for an emergency meeting on the crisis engulfing the Middle East
- Top diplomat of European Union Josep Borrell warned, "we are almost in a full-fledged war" about the Lebanon-Israel situation
Geostrategy
Biden’s United States powerless as Israel pounds Lebanon
US President Joe Biden's top priorities for the past 11 months has been to prevent the Gaza war from spiraling...
- Biden administration was presenting "concrete ideas" to provide an "off-ramp" to prevent further fighting at UN
- Israeli Prime Minister Benjamin Netanyahu brushed aside warnings of the dangers of regional war
OPEC+ sticks to oil output plan after Trump’s price demand
In a bid to boost prices, the Organization of the Petroleum Exporting Countries (OPEC) headed by Saudi Arabia and Russian-led allies...
Business
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Syria: Tens of thousands of Alawites flee Homs, fearing rebel advance towards Damascus-coast strategic link
Analysts said they expected the fighters led by Islamist group Hayat Tahrir al-Sham (HTS) to push on towards the city,...
Bitcoin passes $100,000 mark for first time, outshining wavering stock markets
Donald Trump, who has vowed to make the US the 'bitcoin and cryptocurrency capital of the world' wrote 'Congratulations Bitcoiners...You're...
Business
South Korean president clings to power after martial law U-turn
South Korean President Yoon Suk Yeol was still clinging to power Thursday, with his party announcing they will oppose an...
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Economy
OECD warns of protectionism weeks before Trump return
While the organization raised its 2025 global growth forecast to 3.3 percent, it cautioned that "greater trade protectionism, particularly from...
- Trump has threatened blanket tariffs of at least 10% on all imports and since his election has vowed to slap 25% import tariffs against Canada and Mexico, the US trade partners.
- "Increases in trade-restrictive measures could raise costs and prices, deter investment, weaken innovation and ultimately lower growth," the OECD warned in its economic outlook.
Geostrategy
France, Saudi Arabia to co-chair June meet on creating Palestinian state: Macron
The French president said they want to involve both European and non-European allies who are ready to move in this...
- Macron said that France and Saudi Arabia have the "will to move forward" on a deal to sell Rafale fighter jets to the Kingdom.
- Discussions had already been underway for Riyadh to acquire the French-made jets and, though no definitive announcement was expected during Macron's visit.
Seoul stocks sink amid S. Korea drama as Asian markets struggle
South Korean stocks sank more than two percent Wednesday while the won rebounded from earlier losses after President Yoon Suk...
- The Kospi index shed as much as 2.3 percent at the open
- The won tumbled more than three percent to a two-year low of 1,444 per dollar