G20 grapples with splintering world order
"Too many countries are retreating into geopolitical blocs or the battlegrounds of protectionism," Canadian Prime Minister Mark Carney told reporters....
Geostrategy
UAE says will invest up to $50 billion in Canada
The fresh North American investment pledge came after UAE President Mohamed bin Zayed Al Nahyan promised in May to pump...
Geostrategy
Economy
Qatari firm to invest $29.7 billion in Egypt coastal development
The project in the Alam al-Roum area, in Egypt's Matrouh Governorate, will span "4,900 acres... extending across a coastline of...
- Egypt, mired in its worst economic crisis in decades, is betting big on its 3,000 kilometres (1,800 miles) of coastline as a revenue source
- In 2024 the UAE said it would inject $35 billion in foreign direct investment into Egypt, including $24 billion that would go to developing the Ras al-Hikma area west of Alexandria
Geostrategy
Embracing heritage, Mamdani marks watershed for South Asian Americans
Washington, United States - In a victory speech capping his meteoric rise, New York's mayor-elect Zohran Mamdani quoted at length...
- As he left the stage to a cheering cross-section of the metropolis, the song on the speaker was not one of the many well-worn tunes about New York but the beats from Bollywood
- Mamdani, winning a mandate with a left-wing agenda focused on making New York more affordable, has made history as the first South Asian to lead America's largest city
Economy
World has ‘the tools’ to unlock $1.3 trillion in climate finance: COP30 report
The 81-page report was released by the heads of last year's COP29 conference in Azerbaijan and the upcoming COP30 gathering...
- The 81-page report was released by the heads of last year's COP29 conference in Azerbaijan and the upcoming COP30 gathering in Belem, Brazil
- "This Roadmap aims to contribute as catalyst and foundation for the next phase of climate action," COP29 president Mukhtar Babayev and COP30 head Andre Correa do Lago said
Business
Ozempic maker lowers outlook
The company posted tepid Q3 results.
- It marked the latest bad news for the pharmaceutical giant, which has recently changed its CEO, announced plans to lay off 9,000 employees and replaced more than half of its board.
- The group now expects full-year sales in 2025 to grow by eight to 11 percent, versus the eight to 14 percent range it had expected previously, the company said.
Geostrategy
Gaza hospital says received 15 Palestinian bodies under ceasefire exchange deal
They were returned in exchange for the latest hostage body handed back from Gaza on Tuesday, that of Israeli-American soldier...
- At the start of the truce, Hamas held 48 hostages in Gaza -- 20 alive and 28 deceased.
- Hamas have since released all the surviving captives, as well as 21 of the deceased's remains.
Geostrategy
Long-shot socialist and Trump foe Mamdani becomes next New York mayor
The self-proclaimed socialist, who has been re-elected three times, forged an image that has become his trademark -- a progressive...
- Since his surprise victory in the Democratic Party primary in June, New Yorkers have become used to seeing his bearded, smiling face on television
- The 34-year-old election winner was born in Uganda to a family of Indian origin and has lived in the United States since he was seven, becoming a naturalized US citizen in 2018
Geostrategy
NATO tests war preparedness on eastern flank facing Russia
On the Mures river in central Romania, French armoured vehicles and Romanian trucks board a motorised floating bridge, part of...
- The drill -- planned for months and seen as an "integration exercise" for NATO members -- comes after Washington last week said it would pull some troops out from the area
- Romania, which shares some 650 kilometres (400 miles) of border with Ukraine, has gained in strategic importance since Russia invaded its neighbour in 2022
Geostrategy
World on track to dangerous warming as emissions hit record high: UN
Scientists are in broad agreement that warming above 1.5C relative to pre-industrial times risks catastrophic consequences, and every effort must...
- But the world is set to blow past 1.5C in a matter of years and planet-warming emissions keep rising, hitting a new record high in 2024, according to a UN report.
- With an overshoot of 1.5C now inevitable, focus has shifted to how quickly temperatures can be returned to less-risky levels.
Business
US AI firm Palantir announces joint venture in Dubai
Dubai, United Arab Emirates -- US software firm Palantir launched a joint venture with the Dubai government's investment arm on...
- The joint venture, named Aither, was unveiled a day after Microsoft announced $15.2bn in AI and cloud computing investments in the UAE, which seeks to become a global AI leader.
- Palantir has a reach that spans the global economy, with banks, hospitals, the US government and the Israeli military among its ever-expanding client roster.
Arts & Culture
King Tut’s collection displayed for first time at Egypt’s grand museum
Cairo, Egypt -- Thousands of visitors streamed through the Grand Egyptian Museum on Tuesday as almost the entire collection of King...
- Curated and conserved over nearly two decades, the collection was unveiled to the public two days after the museum's lavish opening ceremony on Saturday.
- In a vast, dimly lit main hall spanning four levels, visitors gazed at chariots, household items, jeweled ornaments and, at the center, Tutankhamun's iconic golden mask.
G20 grapples with splintering world order
"Too many countries are retreating into geopolitical blocs or the battlegrounds of protectionism," Canadian Prime Minister Mark Carney told reporters....
Geostrategy
Company News
Latest News
Rory McIlroy wins seventh Race to Dubai title
Arts & Culture
Cervical cancer vaccine push has saved 1.4 million lives: Gavi
Geneva, Switzerland - A three-year campaign to bring vaccines against human papillomavirus (HPV) to low-income countries has prevented 1.4 million...
Science
UN Security Council set to vote on Trump’s Gaza plan, deployment of international force
The draft, which has been revised several times as a result of high-stakes negotiations, "endorses" the plan, which allowed for...
Geostrategy
Rory McIlroy wins seventh Race to Dubai title
Dubai, United Arab Emirates -- Rory McIlroy was on Sunday crowned the DP World Tour’s Race to Dubai champion for...
Arts & Culture
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Geostrategy
Israel says Gazans who landed in S. Africa unexpectedly had third-country approval
Israeli authorities said on Saturday that 153 Palestinians who turned up unexpectedly in South Africa, triggering questions from its president,...
- After landing in Johannesburg on Thursday, the Gazans were kept aboard their plane for 12 hours because they did not have departure stamps from Israel in their passports
- The home affairs ministry finally allowed the passengers to disembark when an NGO said it would provide them with accommodation
Business
Google announces $40 billion Texas investment to expand AI infrastructure
Google announced Friday a major $40 billion investment in Texas through 2027 to build new cloud computing and artificial intelligence...
- The investment will fund new data center campuses in northern Texas, adding to Google's presence in the Lone Star State that spans more than 15 years, the company said
- "Our latest investment in Texas is designed to not only support Texas' workforce, but to ensure the US retains the technical backbone to lead the world in AI," Google said
Business
EU approves ADNOC’s purchase of Germany’s Covestro
Brussels, Belgium -- The European Commission on Friday greenlit the takeover of German chemical firm Covestro by UAE state oil...
- Plastics maker Covestro accepted a bid from the Abu Dhabi National Oil Company in October, valuing the company at 12 billion euros ($14 billion).
- ADNOC has promised to inject around 1.2 billion euros into the chemicals firm through the issuance of new shares under the terms of the takeover.