US Fed chair opens door to rate cut as Trump steps up pressure
Last year, the Fed chair used his keynote speech at the Jackson Hole Economic Policy Symposium to indicate the time...
Economy
Nestle unveils method to boost cocoa yields as climate change hits
Geneva, Switzerland - Faced with climate change diminishing farmers' yields, Nestle announced Wednesday that it was working on a technique...
Business
Economy
US consumer inflation slows to 5% in March year-over-year
US consumer inflation slowed in March lessening the pressure on the Federal Reserve to maintain its aggressive posture to cool...
- Bureau of Labor Statistics report is the latest evidence that the Fed's streak of interest rate hikes over the last year is weighing on economic activity.
- While US labor market data has remained solid, recent reports on manufacturing and the services sector have shown signs of slowing.
Arts & Culture
Egypt’s village traditions in peril as costs rise
Multi-day weddings, feeding the bereaved and homemade bread are all becoming things of the past in rural Egypt.
- In a year, the Egyptian pound has lost nearly half of its value, pushing consumer prices to more than double in the import-dependent country.
- Weddings in Nubian villages -- renowned for their long extravagant parties -- are no longer three-day, nine-meal affairs to which the entire town is invited.
Economy
Global debt growing due to US, China, says IMF
Global government debt is on track to reach levels not seen since the height of the COVID-19 pandemic, the International...
- In the US, government debt as a percentage of economic output is expected to surpass its pandemic-era peak by 2027.
- China's debt burden is forecast to be almost double its pre-pandemic levels by 2028, the IMF said.
Geostrategy
Facing criminal charges, Trump vows to ‘never’ drop presidential bid
The Republican real estate magnate, who is facing 34 felony counts in New York over alleged hush money paid to...
- Trump, 76, in his first major interview since being arrested last week, cast doubt on whether Democrat Biden, 80, would be in the 2024 race
- Right wing outlets like Fox News frequently highlight Joe Biden's verbal flubs, and moments where he appears to have lost his train of thought
Volvo shares up after Q1 profit
The firm's net Q1 sales rose by 24.8 percent.
- In a preliminary report on its first-quarter earnings, released late Tuesday, Volvo announced an operating profit of $17 billion, an increase of 44.9 percent year on year
- In January, the truck-maker reported a slightly lower profit for 2022, despite a rise in sales, and warned that the "global supply chain for components is still unstable"
Economy
US unveils tough emissions rules to speed electric auto shift
The proposed rules set aggressively low standards for emissions of greenhouse gases and criteria pollutants, which is expected to lead...
- The proposal -- which will next be open to a public comment period -- is the latest in a series of steps under Biden, a Democrat, to help put EVs on track for mass adoption.
- Electric vehicles accounted for 5.8 percent of the US market for new vehicles in 2022, up from 3.2 percent in 2021, according to Cox Automotive.
Science
NASA unveils ‘Mars’ habitat for year-long experiments on Earth
The volunteers will live inside a 1,700 square-foot (160 square-meter) home for one year, dubbed "Mars Dune Alpha," which includes...
- The facility, created for three planned experiments called the Crew Health and Performance Exploration Analog (CHAPEA), is located at NASA's massive research base in Texas
- Four volunteers will begin the first trial this summer, during which NASA will monitor their physical and mental health to understand humans' fortitude for such a long isolation
Business
Twitter working on AI despite Musk call for global pause: report
Musk has bought thousands of powerful, costly computing processors and hired AI engineering talent, Insider reported, while another tech-focused outlet,...
- The Insider report came less than two weeks after Twitter boss Elon Musk joined experts in signing a letter calling for a hiatus in the development of AI
- Generative AI could also be put to work as a search or advertising tool, but it remained unclear what Musk intended its purpose to be at Twitter, the report said
Economy
IMF chief economist warns inflation could remain high until 2025
Washington, United States--The underlying drivers of historically-high global inflation could persist until 2025, the International Monetary Fund's chief economist told AFP...
- Following the fast reopening of the global economy after the Covid pandemic, prices around the world have risen exponentially
- Inflation in many countries in the world has remained well above the two percent target, despite central banks raising interest rates
Business
Boeing delivers 130 aircraft in Q1
It edged out its rival Airbus by just three aircraft.
- In order to reach its target of 720 units for the year, Airbus needs to picke up the pace in order to go past the 661 number in 2022
- In mid-March Boeing restarted deliveries of its long-haul 787, which were temporarily halted at the end of February by the Federal Aviation Administration
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
US Fed chair opens door to rate cut as Trump steps up pressure
Last year, the Fed chair used his keynote speech at the Jackson Hole Economic Policy Symposium to indicate the time...
Economy
Company News
Latest News
Tesla reports drop in auto sales
Business
Blinken says US wants Lebanon solution, not ‘broader conflict’
"So Israel has a clear and very legitimate interest in doing that. The people of Lebanon want the same thing....
Geostrategy
Boeing to cut 10% of workforce
The company has projected a large third-quarter loss.
Most Read
Geostrategy
European Mediterranean states to discuss Middle East, migration
Leaders from nine European countries around the Mediterranean Sea are set to meet in Cyprus on Friday October 11 to...
- Italy, Greece and Spain are the main arrival points in the EU for migrants displaced by war or fleeing poverty
- The EU has been one of the biggest funders of humanitarian projects in the Palestinian territories
Geostrategy
Erdogan says Gaza ‘shame of humanity’, calls for permanent ceasefire
Tirana, Albania - Turkey's President Recep Tayyip Erdogan renewed his attacks on Israel as he arrived in Tirana Thursday, the first...
- Repeating his claim that Israel's actions in Gaza constituted "genocide", he branded it the "shame of humanity", at a joint press conference with Albanian Prime Minister Edi Rama
- According to the Hamas-run territory's health ministry, 42,065 people have been killed in Gaza since the start of the war, with the UN saying the figures are reliable
Details: Fresh Israeli attacks kill more Lebanese as Europe flays Netanyahu over strike against UN
Israel attacks Lebanon killing dozens and injuring more than 100 people, while Joe Biden calls Netanyahu a "liar" and Amnesty...
- “That son of a b*tch, Bibi Netanyahu, he’s a bad guy. He’s a bad f**king guy!”: said US President Biden in private, according to a new book
- Amnesty International accuses Israel of "misleading" and inadequate calls for Lebanese residents to evacuate parts of the country