Biden cancels $4.28 bn more in student debt before leaving office
Washington, United States -- US President Joe Biden said Friday he was canceling student loans for an additional 55,000 Americans, which...
Geostrategy
UN urges ‘free and fair’ elections in Syria post-Assad ouster amid ongoing challenges
Turkey's Foreign Minister warned Syria's new government to address Kurdish militancy, signaling potential intervention if unresolved with tensions rising with...
Geostrategy
Geostrategy
Macron attends PIF-hosted Riyadh One Planet Sovereign Wealth Funds meet
Riyadh, Saudi Arabia -- French President Emmanuel Macron and over 100 CEOs besides members of OPSWF, asset managers, and private...
- Discussions at the summit focused on the pivotal role of sovereign wealth funds as global investors in addressing climate challenges among others.
- Key action tracks were identified to enhance investment decision-making for climate action, boost efficiency and impact within the global financial system.
Economy
Developing countries paid $1.4 trillion to service their debts in 2024
The poorest countries paid out more than $96 billion to service their debts, the Bank announced in its latest report...
- The World Bank report noted that high interest rates have been a key driver of the rising cost of servicing foreign debt.
- Rates charged by private creditors were even worse, rising to a 15-year high of six percent -- an increase of more than one percentage point.
Economy
Non-oil sectors drive robust growth in GCC countries, says World Bank report
While developing countries paid a record US$1.4 trillion to service debts, the non-oil sectors in the GCC countries are fueling...
- "The [GCC] region has shown remarkable resilience in the face of global disruptions, moving steadily on their diversification agenda."
- Saudi Arabia's growth is expected to accelerate to an average of 4.7 percent in 2025-2026 as oil production increases.
Lebanon says nine killed in Israeli strikes on southern villages
Many strikes on villages in southern Lebanon on Monday, after Israel said it was taking aim at dozens of Hezbollah...
- Israel has carried out a near-daily series of strikes in southern Lebanon since the ceasefire
- On Monday, the Lebanese army said an Israeli drone wounded a soldier
QatarEnergy inks gas supply deal for China with Shell
Doha, Qatar - Qatar has agreed to supply three million tonnes of gas a year to China in a deal...
- The liquefied natural gas deliveries would begin in January as part of a "new long-term sale and purchase agreement."
- Qatar is one of the world's top gas producers alongside the United States, Australia and Russia
Geostrategy
Israel vows ‘harsh response’ to Hezbollah attack
Israeli Defence Minister Israel Katz vowed a "harsh response" to a Hezbollah rocket launch targeting a military position on Monday
- At least two people were killed on Monday in Israeli strikes in southern Lebanon
- The ceasefire came into effect on November 27 and stipulates that Israel will not carry out offensive military operations
Geostrategy
Macron to hold talks with Crown Prince Salman on Saudi visit
Macron is beginning the first state visit by a French president to Saudi Arabia since Jacques Chirac in 2006, cementing...
- Macron's three-day stay also coincides with a flare-up of violence in Syria, where anti-government rebels have seized Aleppo, the second largest city.
- The fighting in Syria comes after France helped to broker a fragile ceasefire in neighboring Lebanon, where Israel has been fighting Iran proxy Hezbollah.
Desertification talks open in Saudi Arabia as experts fire warning
UN talks aimed at halting the degradation and desertification of vast swathes of land start in Saudi Arabia. Forest loss...
- 3.7 billion acres must be restored by decade's end to combat crises
- Forest loss and degraded soils were reducing resilience to climate change and biodiversity loss
Plastic pollution talks South Korea fail to reach landmark deal
Busan, South Korea - Deeply divided negotiators failed on Sunday to reach a landmark global treaty to curb plastic pollution, missing...
- For a week, delegates from nearly 200 nations meeting in South Korea have wrestled with how to stop millions of tonnes of plastic waste entering the environment each year
- Plastic pollution is so ubiquitous that microplastics have been found on the highest mountain peak, in the deepest ocean and throughout almost every part of the human body
Geostrategy
US President Biden pardons son Hunter before White House exit
Washington D.C. -- US President Joe Biden on Sunday issued an official pardon for his son Hunter, who is facing...
- Hunter Biden was convicted earlier this year of lying about his drug use when he bought a gun - a felony
- Bill Clinton pardoned his half-brother for cocaine charges and Trump pardoned the father of his son-in-law for tax evasion
Biden cancels $4.28 bn more in student debt before leaving office
Washington, United States -- US President Joe Biden said Friday he was canceling student loans for an additional 55,000 Americans, which...
Geostrategy
Company News
Boeing to boost 787 production
Business
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G7 meeting to address Syria’s challenges following Assad’s ouster
Damascus, Syria - G7 leaders will meet virtually Friday to discuss the momentous changes underway in Syria, where the interim government...
UNRWA warns of ‘apocalyptic’ conditions as Israeli airstrikes target aid, refugee camps, kill 58
The latest bloodshed came despite growing optimism that negotiations for a ceasefire and hostage release deal might finally succeed, with...
‘A matter of pride’: Saudis rejoice as World Cup bid approved
Riyadh, Saudi Arabia -- Fireworks and drones depicting the iconic golden World Cup trophy lit up the sky in Saudi Arabia's...
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Geostrategy
Transition in Syria: New PM says will ‘guarantee’ rights of all religious groups
With Assad's overthrow plunging Syria into the unknown, its new rulers have sought to assure religious minorities that they will...
- Assad fled Syria after a lightning offensive spearheaded by the Islamist Hayat Tahrir al-Sham (HTS) group and its allies, which ended five decades of rule by his clan
- Syrians across the country and around the world erupted in celebration, after enduring a stifling era during which anyone suspected of dissent could be thrown into jail or killed
Business
Google unveils its most advanced Artificial Intelligence model, Gemini 2.0
San Francisco, United States -- Google on Wednesday announced the launch of Gemini 2.0, its most advanced artificial intelligence model to...
- CEO Sundar Pichai said the new model would be marking what the company calls "a new agentic era" in AI development.
- Gemini 2.0 is initially being rolled out to developers and trusted testers, with plans for broader integration across Google's products.
Geostrategy
Crunch time for Saudi-hosted drought, desertification talks
Riyadh, Saudi Arabia -- Landmark talks on desertification are set to conclude in Saudi Arabia this week amid doubts that pledged funds...
- The 12-day UNCCD COP16 meeting has announced billions in funding for drought response and land restoration.
- The UNCCD said 1.5 billion hectares (3.7 billion acres) of land must be restored by decade's end and that at least $2.6 trillion in global investments were needed.