IEA feels the heat as Washington pushes pro-oil agenda
Paris, France -- No stranger to ire from oil-producing nations, the International Energy Agency (IEA) is facing pressure from the...
Geostrategy
Seismic shift: UK, Australia and Canada recognize Palestinian state
Portugal was also to recognize Palestinian statehood, as Israel came under huge international pressure over the war in Gaza where...
Geostrategy
Business
EU launches enquiry on Meta and TikTok over disinformation
The European Union has built a powerful armory to challenge the power of big tech with its landmark Digital Services Act...
- The European Commission said it had sent formal requests for information to Meta and TikTok in what is a first procedure launched under the EU's new law on digital content.
- Meta and TikTok have until October 25 to respond, with a deadline of November 8 for less urgent aspects of the demand for information.
Economy
Indonesia backs Saudi Arabia’s 2034 World Cup bid
Last week, Indonesian FA president Erick Thohir had said the country was in talks with Australia for a possible joint 2034...
- "Indonesia supports Saudi Arabia's bid to host the FIFA World Cup in 2034," Indonesian FA president Erick Thohir said in a statement on Wednesday
- Thohir said last week that his scrapped joint bid proposal with Australia could also have involved games in New Zealand, Malaysia, and Singapore
Business
Nokia to slash 14,000 jobs
It took the decision after posting a drop in Q3 profits.
- The company, according to its CEO, saw saw an increased impact in Q3 on business from the macroeconomic challenges
- Its savings program is expected to reduce the firm's employees to 72,000, reducing costs by up to $1.14 billion by 2026
Business
Netflix subscriber base swells with ads and password crackdown
Netflix shares leapt more than 12 percent to $43.31 in after-market trades on the Nasdaq exchange. The streaming service said...
- The leading streaming service said it is increasing the price of its basic plan in the United States to $11.99 monthly and its premium plan to $22.99
- Netflix reported a profit of $1.68 billion on revenue of $8.5 billion in the quarter, beating market expectations with its earnings figures
Markets in retreat on growing fears of Middle East war
With Benjamin Netanyahu building up a huge force ahead of an expected land incursion into Gaza, Iran has warned of...
- The prospect of an all-out war pushed oil prices up Wednesday, though Washington's decision to suspend some sanctions on Venezuelan output tempered the gains
- Risk aversion among traders was increased by concerns the Federal Reserve would hike interest rates again, or at least keep them elevated for an extended period
Geostrategy
Xi says China to work with Egypt to help stabilize Middle East
Xi met Egypt's Mostafa Madbouli in Beijing on Thursday, repeating China's support for a "two-state solution... to realise the peaceful...
- China has repeatedly backed a vague two-state proposal on the decades-long deadlock that preceded the war
- Relations between China and Egypt have warmed in recent months, with Cairo set to become an official member of the recently expanded BRICS group
Geostrategy
Egypt to open Gaza crossing for up to 20 aid trucks: Joe Biden
US president said the aid convoy would be allowed to go into Gaza from the Rafah crossing in a first...
- Biden said the first 20 trucks will be a test of a system for distributing aid without allowing Hamas to benefit
- The president said that the 20 trucks represented a "first tranche," and "150 or something" trucks are waiting in total.
Geostrategy
Biden backs Israel account of Gaza hospital strike, denounces Hamas
In announcing Biden's visit, Secretary of State Antony Blinken said that Israel had agreed to work with the United States...
- Biden said he was encouraging Netanyahu to ensure "life-saving capacity to help the Palestinians who are innocent and caught in the middle of this".
- Israeli PM Benjamin Netanyahu hailed US President Joe Biden for paying "the first visit of an American president in Israel in a time of war".
Geostrategy
Israel to allow food, water and medicine only in Gaza via Egypt
"In light of (US) President (Joe) Biden's demand, Israel would not foil the supply of humanitarian aid via Egypt," the...
- Israel said it would allow for aid to pass through Egypt, it maintained supplies would not come from its own territory until Hamas releases all the hostages.
- Water, fuel and food supplies are running low in the Palestinian enclave, under a crippling Israeli-led blockade since Hamas took power in 2007.
Geostrategy
US vetoes UN resolution seeking ‘humanitarian pause’ in Gaza conflict
"The United States is disappointed this resolution made no mention of Israel's rights of self-defense," US Ambassador to the UN...
- Twelve out of 15 Council members voted in favor of the resolution put forward by Brazil and negotiated over several days.
- The United States was the only vote against, but as one of the body's five permanent members its vote counts as a veto.
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IEA feels the heat as Washington pushes pro-oil agenda
Paris, France -- No stranger to ire from oil-producing nations, the International Energy Agency (IEA) is facing pressure from the...
Geostrategy
Company News
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Putin orders three-day ceasefire; Zelensky slams it as manipulative ahead of Victory Day
Before Putin's announcement, US Secretary of State Marco Rubio held new talks with Russian counterpart Sergei Lavrov, having declared that...
Geostrategy
Brazil calls for Israeli withdrawal from Gaza at BRICS ministers’ meet
The meeting comes at a critical moment for the world economy after the International Monetary Fund this week slashed growth...
Geostrategy
Amazon set for launch of its first batch of Starlink-rival satellites
Washington, United States -- After delaying an earlier attempt due to bad weather, Amazon is preparing to launch its first...
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Geostrategy
Trump thinks Zelensky ready to give up Crimea to Russia
US President Donald Trump said he believed Ukrainian President Volodymyr Zelensky was ready to concede Crimea to Russia as part...
- Trump also stepped up pressure on Vladimir Putin, saying the Russian president should "stop shooting" and sign an agreement to end the grinding war
- Trump's comments came a day after he met Zelensky during the funeral of Pope Francis, breaking the ice after a major row between the US and Ukrainian leaders at the White House
Geostrategy
Khamenei orders probe into port blast as Iran’s nuclear talks, regional tensions simmer in background
The New York Times quoted a person with ties to Iran's Islamic Revolutionary Guard Corps, speaking on condition of anonymity...
- His instructions came after President Masoud Pezeshkian visited the blast scene in Shahid Rajaee Port near the strategic Strait of Hormuz
- Defence ministry spokesman Reza Talaei-Nik later told state TV that "there has been no imported or exported cargo for military fuel or military use in the area."
Business
Mohamed Salah: Liverpool’s Egyptian King
Salah's tally of 185 goals in the English top flight is the joint fifth highest in Premier League history and...
- The 32-year-old has scored 28 goals and provided 18 assists so far as Liverpool equalled Manchester United's record of 20 English top-flight titles on Sunday
- His combined total of 46 goals and assists is a new Premier League record for a 38-game season and the all-time mark of 47 looks likely to fall before the season is out