Arab bloc says no peace without a Palestinian state and end to ‘hostile’ Israel actions
The League said that "the failure to reach a just solution to the Palestinian cause and the hostile practices of...
Geostrategy
After his call with Zelensky, European leaders, Trump says will speak with Putin soon
US President Donald Trump said Thursday he would speak soon with Russia's Vladimir Putin, after his call earlier in the...
Geostrategy
Geostrategy
Lack of Lebanon reforms threatens stability, says IMF
The International Monetary Fund warned in a report that Lebanon's failure to implement reforms could have "irreversible" consequences for the...
- In April 2022, Lebanon and the IMF reached a conditional agreement on a $3-billion-dollar loan needed to save the economy.
- Lebanese officials have still yet to enact the substantial changes required to kickstart the 46-month financing program.
Economy
US first quarter economic growth 2 percent after strong consumer spending
Washington, United States - US economic growth came in at two percent in the first quarter this year, the Commerce Department...
- The growth of 2 percent for US economy is markedly higher than the annual rate of 1.1 percent originally estimated.
- However, GDP growth in the world's biggest economy has still cooled from 2.6 percent in the final three months of 2022.
Business
BMW to put in $218m in S Africa
BMW's Pretoria plant has made over 1.6 million vehicles.
- The investment will make the country the second after the US to manufacture and export the X3 hybrid.
- Adrica's most industrialized economy began manufacturing the X3, BMW's best-selling model, in 2018.
Business
H&M shares up
The company had reported a net profit of 3.29bn kronor ($305m).
- It was down from 3.68 billion kronor the year before but above expectations of 2.84 billion kronor in a Bloomberg survey of analysts.
- The company also reported a near five percent drop in operating profit to 4.74 billion kronor, but this was also better than analysts' expectations of 4.26 billion kronor.
Business
Virgin Galactic finally takes its first paying customers to space
Italian Air Force officers unfurled their nation's flag and peered out windows at the Earth's curvature while enjoying a few...
- Fifty miles is considered the border of space by NASA and the US Air Force, though the internationally recognized boundary, known as the Karman Line, is 62 miles high.
- The flight came almost two years after Virgin Galactic's founder Richard Branson flew to space in a test flight meant to usher in a new era of lucrative space tourism.
Geostrategy
Turkmenistan unveils $5 bn city in honor of national leader
Arkadag, Turkmenistan -- Turkmenistan on Thursday inaugurated Arkadag, a $ 5-billion "smart" city built in honor of former strongman leader Gurbanguly...
- The new city is named after Gurbanguly Berdymukhamedov, who ruled over the country between 2006 and 2022 and now carries the title Hero Arkadag (Protector).
- The former president, who turned 66 on Thursday, remains the real decision-maker in the country, observers say.
Business
US Federal Reserve calls for better supervision of banks
US Federal Reserve Chair Jerome Powell said stronger regulation and greater agility was required in supervising the banking sector following...
- Federal Reserve called for greater banking oversight while admitting its own supervisors had failed to take forceful enough action.
- When SVB failed, it was clear that a number of standard assumptions from a regulatory standpoint "were wrong," the Fed chairman said.
EU presses Tunisia in bid to stem Med migrant flow
In early June, European Union countries reached agreement on a long-stalled revision of the bloc's asylum rules. It aims to...
- The discussion will come two weeks after a boat believed to have been carrying hundreds of migrants capsized off Greece in one of the worst such tragedies in years
- Amnesty International and other rights groups say the tragedy resulted from Brussels' "Fortress Europe" policy implemented over the past seven years
Geostrategy
Dangerous provocation: Muslim nations condemn Quran burning
Under a heavy police presence, Salwan Momika stomped on the Quran before setting several pages alight in front of Stockholm's...
- The incident occurred as Muslims around the world began marking the Eid al-Adha holiday and as the annual hajj pilgrimage to Mecca in Saudi Arabia was drawing to a close.
- Iraq's influential Shiite cleric Moqtada Sadr called for a demonstration outside theh embassy in Baghdad to demand the removal of the ambassador.
Geostrategy
Key judicial reform clause thrown out, says Israeli PM
Israeli Prime Minister Benjamin Netanyahu said he had "thrown out" a key provision of his controversial judicial reform plan that...
- The proposed changes to the justice system have also drawn intense criticism from the international community.
- The proposals had sparked one the country's biggest protest movements with thousands taking to the streets since they were announced in January.
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
Arab bloc says no peace without a Palestinian state and end to ‘hostile’ Israel actions
The League said that "the failure to reach a just solution to the Palestinian cause and the hostile practices of...
Geostrategy
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Iran picks new president at turbulent time
Geostrategy
Former US president Jimmy Carter dies aged 100
Carter had been in hospice care since mid-February 2023 at his home in Plains, Georgia -- the same small town...
Indian workers replace Palestinians in Israel’s construction sector amid post-war labour void
Indians, long employed in Israel as caregivers, diamond traders, and IT professionals, are now increasingly recruited for the construction sector...
Economy
20-day-old baby Jumaa al-Batran dies from ‘severe cold’ in Gaza
Marwan al-Hamas, head of field hospitals in Gaza, confirmed the death. He said it brought to five the total number...
Geostrategy
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Geostrategy
Israeli raid puts last major Gaza health facility out of service: WHO
The World Health Organization said the operation had put the "last major health facility in north Gaza out of service"....
- The WHO said 60 health workers and 25 patients in critical condition, including some on ventilators, reportedly remained in Kamal Adwan Hospital.
- Patients in less severe condition were forced to evacuate to the destroyed, non-functioning Indonesian Hospital, the UN health agency said.
Geostrategy
New Dawn over Damascus: Residents reclaim Mount Qasyun after years of curbs under Assad’s rule
Mount Qasyun, once closed due to war, reopens as a vibrant community space where Damascus residents gather to reclaim joy,...
- Through the long years of Syria's civil war, which began in 2011 with a government crackdown on pro-democracy protesters, people were not allowed access to the mountain
- When night falls, long queues of vehicles slowly make their way up a twisting road to a brightly lit corniche at the summit
Business
Move over Mercedes: Chinese cars grab Mexican market share
Mexico City, Mexico -- The growing popularity of Chinese sport utility vehicles and pickup trucks has shaken up Mexico's luxury car...
- Mexicans are increasingly switching from traditionally dominant sedans to Chinese vehicles due to a combination of comfort, technology and price.
- It is no small feat in a country home to factories of foreign brands such as Audi and BMW, and where until a few years ago imported Chinese cars were stigmatized.