Erdogan jubilant as ‘Steel Dome’ air defence system delivered to military, hails it a milestone
Last August, Turkey, a member of NATO, unveiled plans to build a multi-layered air defence system to protect its airspace,...
Geostrategy
Israeli rights group accuses general of war crimes in West Bank
A leading Israeli rights organisation said Monday that it had requested a military investigation into a senior commander over suspected...
Geostrategy
Geostrategy
Erdogan, opponent attract huge crowds ahead of crucial elections
The 69-year-old president has bounced back strongly from what was described as a digestive problem in the run-up to one...
- The veteran Turkish leader filled a central Ankara square that can fit a few hundred thousand people with flag-waving supporters.
- Erdogan in 2019 lost landmark municipal votes in Ankara, Istanbul and Izmir -- Turkey's three biggest and most economically powerful cities.
Geostrategy
Iran’s parliament removes minister over rising prices
Iran's parliament voted in an impeachment session to remove the industry minister amid soaring prices as the Islamic republic's economy...
- The vote came with the economy battered by Western sanctions, rampant inflation and depreciation of the rial against the dollar.
- Defending the minister ahead of the vote, President Ebrahim Raisi had urged "stability in the management of this ministry".
Geostrategy
Iran’s President Raisi to visit Damascus as Jordan hosts Syria meet
The visit comes against the backdrop of a rapprochement between regional rivals Iran and Saudi Arabia, and increased Arab engagement...
- Monday's meeting in Amman will bring together foreign ministers from Egypt, Iraq, Jordan, Saudi Arabia and Syria to discuss ending Syria's isolation.
- Jordan called the gathering "a continuation of the consultative meeting of the countries of the GCC, Jordan, Iraq and Egypt, which was hosted by Saudi Arabia" in mid-Apri.
Business
Inheritance, investments raise King Charles’ fortune to $754m
London, United Kingdom -- Through inheritance, royal estates and shrewd investing while a prince, Charles III will be crowned on May...
- Queen Elizabeth II bequeathed her son an estimated £360 million ($448 million) upon her death in September last year, boosting Charles's fortune to £600 million.
- Balmoral Castle in northeast Scotland, where the royal family spends its summers, and the Sandringham estate in eastern England were left to Charles.
Economy
ECB looks to hike interest rate again but analysts divided on how much
The Frankfurt-based institution has already lifted rates 3.5 percentage points since July last year to tame energy and food costs...
- Currently many analysts are betting on a quarter point hike from ECB, due to slowing inflation as well as a stable outlook in the 20-nation currency club
- A day ahead of the ECB's announcement, the US Federal Reserve is set to unveil its latest rate decision, with traders expecting another quarter point hike
Economy
China’s manufacturing declines in April as recovery challenges loom
Its economy grew 4.5 percent in the first three months of the year as the country reopened after dropping strict...
- Its PMI dropped to 49.2 in April from 51.9 in March, and below the 50-point mark that separates expansion and contraction in activity, data from NBS showed
- The March reading was the highest since May 2011, as the country saw a surge in demand for travel, entertainment and other leisure services unavailable for nearly three years
Geostrategy
US tells Beijing to stop ‘provocative and unsafe conduct’ in South China sea
Washington, United States--The US called on China Saturday to stop its "provocative and unsafe conduct" in the disputed South China Sea,...
- US has warned China to refrain from taking aggressive actions, saying that any attack on Philippine armed forces would trigger a US response
- China blamed the Philippine boats for intruding without its permission and termed it a "premeditated and provocative action"
Economy
Gaza merchants sulk over tax hike as poverty bites hard in enclave
A split between Hamas and the PA, which administers the Israeli-occupied West Bank, often leads to disputes over taxation and...
- According to the Palestinian Central Bureau of Statistics and the IMF, the poverty rate has reached 53 percent and unemployment has hit 45 percent
- Nahed al-Souda, secretary of the clothes traders' syndicate, said a compromise was eventually reached, allowing for the tax-free importation of 600,000 pairs of jeans
Qatar shakes off post-World Cup blues with big spending
Akbar al-Baker, head of Qatar's tourism agency and Qatar Airways, said hotel occupancy in the months after a World Cup...
- Luxury hotels built for the tournament in Qatar have laid off hundreds of staff as rooms costing thousands of dollars a night during the tournament can no longer be filled
- Qatar has made investments in tourism and hosting more major events a focus and it will welcome more than five million visitors this year, says the head of Qatar's tourism agency
Geostrategy
Turkey inches closer to referendum on Erdogan’s two-decade rule
The 69-year-old leader looked fighting fit as he strutted back on stage after a three-day illness and tossed flowers to...
- Polls show Erdogan running neck-and-neck against secular opposition leader Kemal Kilicdaroglu and his alliance of six disparate parties
- The president is venerated across more conservative swathes of Turkey for unshackling religious restrictions and bringing jobs to millions of people
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Erdogan jubilant as ‘Steel Dome’ air defence system delivered to military, hails it a milestone
Last August, Turkey, a member of NATO, unveiled plans to build a multi-layered air defence system to protect its airspace,...
Geostrategy
Company News
Latest News
What impact will Donald Trump have on the world economy?
Paris, France -- Donald Trump's return to the White House with his protectionist policies poses threats for the global economy, with...
Geostrategy
Trump wins White House in stunning comeback
The polarizing Republican's win, following one of the most hostile campaigns in modern US history, was all the more remarkable...
Geostrategy
Republicans seize control of US Senate: networks
Republicans wrested the US Senate from Democratic control, ending four years in the minority, in its quest to dominate every...
Geostrategy
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Business
Saudi Aramco’s quarterly profit drops 15% on low oil prices
Riyadh, Saudi Arabia -- Energy giant Saudi Aramco reported a 15 percent year-on-year drop in third-quarter profit on Tuesday, citing prices...
- The fall in net income to $27.56bn from $32.58bn in 2023 is the seventh consecutive quarterly drop for Aramco, one of the world's biggest companies by market capitalization.
- Aramco is the chief source of revenue for Crown Prince Mohammed bin Salman's Vision 2030 reform agenda, which aims to remodel the Gulf kingdom's crude-reliant economy.
Economy
Most Asian markets rise ahead of toss-up US election
Asian markets mostly rose Tuesday a day before results from the US presidential election rolled in, with opinion polls showing...
- Uncertainty about the outcome led to warnings that investors could be in for a period of volatility
- Wall Street's three main indexes ended in the red
Economy
Eight OPEC+ members extend oil supply cuts until year end
Supply cuts seek boosting oil prices amid uncertain demand and accelerating supply, with an eye on the imminent US presidential...
- Persistent downside pressure on oil prices due to sluggish Chinese and weakening global demand outlook
- "The US presidential election will have a significant impact on the oil market"- Analyst with Rystad Energy