China manufacturing shrinks in August despite new US trade truce
Beijing, China -- China's factory output ticked up in August but still recorded a fifth straight month of contraction, official...
Economy
Ancient tombs unearthed in Iraq due to drought
Khanke, Iraq - Archaeologists in drought-hit Iraq have discovered 40 ancient tombs after water levels in the country's largest reservoir...
Science
Economy
UN wants $100 billion to boost digitalization in poor nations
"Tech is at the top of the global agenda, but the benefits of digital technology are still out of reach...
- Around 2.7 billion people around the world were offline in 2022, according to the International Telecommunications Union, the UN's telecoms agency.
- "The digital connectivity divide separating the least developed countries from the rest of the world is widening," the ITU said.
Business
Russia, Iran sign pact to build final stage of INSTC project
Tehran, Iran - Iran and Russia on Wednesday signed an agreement to construct the final part in the International North–South Transport...
- The INSTC, a freight network of ship, rail and road routes, covers some 7,200 kilometres (4,475 miles) between Russia, Azerbaijan, Iran and India.
- Iranian Transport Minister Mehrdad Bazrpash said the "process of construction" of the Rasht-Astara railway -- the INSTC's only missing link.
Business
UAE court orders Briton to pay Denmark $1.2 bn for tax fraud
Sanjay Shah was arrested in the United Arab Emirates' financial hub in June upon request by Danish authorities who accuse...
- The total sum to be paid by Shah should be close to the losses incurred by the Danish tax authority as a result of the scam, estimated at 1.7 billion euro.
- Shah was arrested by Emirati authorities under an extradition treaty signed with Denmark in March 2022.
Economy
Europe, UK edge closer to signing deal on financial services
Once it is signed by Brussels and London, it will create a framework for voluntary regulatory cooperation in the area...
- The European Commission, the EU's executive arm, on Wednesday took the first step by adopting a draft agreement.
- The EU said the agreement does not deal with the access of UK-based companies to the single market or vice versa.
Business
Moroccan nomads keep alive ancient sport of sand hockey
M'hamid El Ghizlane, Morocco -- In a Moroccan oasis town on the edge of the Sahara, nomads in turbans and tunics...
- Similar in many ways to field and ice hockey, but played barefoot and with palm wood sticks, the ancient game is called "mokhacha" in the local Hassani Arabic dialect.
- Forms of sand hockey are also enjoyed in Ethiopia, where it is called Genna, and in Tunisia under the name of Oggaf, according to the UK-based Hockey Museum.
Geostrategy
Libya parliament suspends rival government chief Fathi Bashagha
Parliament also announced an investigation into Bashagha. The chamber, backed by military strongman Khalifa Haftar, had picked Bashagha in February...
- In July, Bashagha had told AFP that he planned to take office in Tripoli "in the coming days." The reasons for Bashagha's suspension were not immediately known.
- Since his failed attempts to force Dbeibah out, Bashagha has been based in the central city of Sirte.
Geostrategy
France issues arrest warrant for Lebanese central bank chief
A French investigating magistrate issued an international arrest warrant for Lebanon's central bank chief Riad Salameh, a source close to...
- Investigators suspect Lebanese central bank chief Riad Salameh of building his network of assets with the help of a complex fraudulent financial system.
- Since the start of the year, magistrates from European countries have travelled to Lebanon on three occasions to interview the central banker and his entourage.
Economy
US retail sales, industrial production post April gains
Retail sales in the United States returned to growth in April fueled by a rebound in motor vehicle sales, data...
- Retail sales rose by 0.4 percent in April from a month earlier to $686.1 billion, the US Commerce Department said in a statement.
- A separate report released by the Federal Reserve showed that industrial production rose 0.5 percent month-on-month.
Business
Russian oil exports hit post-invasion high, says IEA
PARIS, FRANCE - Russia's oil exports rose in April to the highest level since its invasion of Ukraine, boosting revenues by...
- The Paris-based organization said Russian exports increased by 50,000 barrels per day to 8.3 million bpd in April.
- Russia's tax receipts from its oil and gas sector were down by 64 percent year-on-year, the agency added.
Economy
European economy expands less than previous estimates
On Monday, the European Commission boosted its 2023 economic growth outlook for the 20-country euro area by 0.2 points to...
- The European Union of 27 members registered a growth of 0.2% in Q1, in comparison to the first quarter of 2022, where it grew at 0.3%.
- The European Commission has forecast a rate of 5.8% for inflation in the current year, slightly above its prediction of 5.6% previously.
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China manufacturing shrinks in August despite new US trade truce
Beijing, China -- China's factory output ticked up in August but still recorded a fifth straight month of contraction, official...
Economy
Company News
Latest News
TSMC’s April revenue up 60%
Business
BP announces $7bn gas project
The project aims to unlock 3 trillion cu ft of gas resources in Indonesia.
Business
‘Moment of truth’ for world-first plastic pollution treaty
Bangkok, Thailand - Plastic pollution litters our seas, our air and even our bodies, but negotiators face an uphill battle next...
Putin hints at strikes on West in ‘global’ Ukraine war
In a defiant address to the nation, Russia's president railed at Ukraine's allies granting permission for Kyiv to use Western-supplied...
Geostrategy
Most Read
Business
Adani Group tanks after US bribery charges
India's opposition leader demands Gautam Adani's arrest; Kenya scraps airport, power deals with the Group that has significant investments in...
- Adani, once the world's second-richest man, is a close ally of Prime Minister Narendra Modi and critics have long accused him of benefitting improperly from their relationship.
- The conglomerate saw $150 billion wiped from its market value in 2023 after a shock report by short-seller Hindenburg Research accused it of "brazen" corporate fraud.
Arts & Culture
Banana taped to a wall sells for $6.2 million
The provocative work of conceptual art by Italian artist Maurizio Cattelan debuted at the Art Basel show in Miami Beach...
- The sale featured seven potential buyers and smashed expectations, with the auction house issuing a guide price of $1-1.5 million before the bidding.
- As well as his banana work, Cattelan is also known for producing an 18-carat, fully functioning gold toilet called "America" that was offered to Donald Trump during his first term.
Boeing CEO says company can’t afford another mistake: report
Boeing CEO Ortberg told workers a trade war with China would weigh heavily on Boeing. The meeting came about two...
- New CEO Kelly Ortberg said a trade war with China would weigh heavily on Boeing
- On October 12, Boeing unveiled plans to reduce its global workforce by 10 percent