Turkish Airlines says offer to buy stake in Spain’s Air Europa accepted
Turkish Airlines on Tuesday said Air Europa had accepted its 300-million-euro ($350 million) offer to purchase a minority stake in...
Business
Netanyahu slams Macron for fuelling ‘antisemitic fire’ by move to recognise Palestinian state
Israeli Prime Minister Benjamin Netanyahu upbraided President Emmanuel Macron in a letter seen by AFP on Tuesday, blaming the French...
Geostrategy
Business
Huawei posts 69% fall in profits
Its net profit recorded a drastic drop to US$5.2 billion.
- Its rotating chairman said that during 2022 Huawei's operations have been hit by a challenging "external environment and non-market factors"
- In the US, Britain and Japan, the company's 5G gear has been blocked over security concerns, which Huawei has attempted to dispel
Economy
British economy performs better in late 2022: official data
London, United Kingdom--The British economy performed slightly better than previously estimated in the final quarter of last year as it expanded...
- Initially the UK's Office for National Statistics (ONS) said growth was flat in the October-December period
- ONS director of economic statistics Darren Morgan said that the economy performed a little more strongly than previously estimated
Economy
China economy slowly rebounding, services growth hits 12-yr high
The country has seen a surge in demand for travel, entertainment and other leisure services that were curbed for nearly...
- The official manufacturing purchasing managers' index (PMI) - a key gauge of Chinese factory output - beat expectations but fell to 51.9 in March, from 52.6 in February
- The official non-manufacturing PMI, which measures growth in the services and construction sectors, rose to 58.2 in March - the highest since May 2011 - up from 56.3 in February
Geostrategy
With Turkey’s endorsement, Finland finally joins NATO
Two weeks after President Recep Tayyip Erdogan publicly backed its bid, Turkish lawmakers unanimously supported Finland's membership of the US-led...
- With some 800-mile border with Russia, Finland just has to take a few technical steps before it becomes the 31st member fo the world's most powerful military bloc
- Russian President Vladimir Putin referred to the threat of NATO expanding into Ukraine as one of the main reasons for starting the war 13 months ago
Geostrategy
Two soldiers injured in Israeli aerial attack, says Syria
Syria's foreign ministry condemned the strikes, accusing Israel in a statement of trying to "escape internal divisions", as the country...
- Israel has repeatedly targeted multiple positions in Syria as the country suffers from a decade old civil war.
- Syrian said the Israeli missile was launched from occupied Golan Heights and hit few positions near Damascus.
Economy
EU parliament adopts tough rules to tackle gender pay gap
Women earn on average nearly 13 percent less per hour than men for the same work in the 27-nation European...
- Other rules stipulate that if a company has at least 100 employees, they must publish information regularly on the gender pay gap.
- Companies must also negotiate with staff representatives if there is a discrepancy of five percent. Those who break any of the rules face sanctions, including fines.
Business
UK warns against protectionism after US green energy subsidy
London, United Kingdom - Britain on Thursday warned against the threat of protectionism as it slammed the United States for leading...
- UK Finance Minister Jeremy Snape said the threat of protectionism is making a comeback in the world in the form of subsidy.
- US President Biden has launched $370bn initiative of subsidies for green energy and tax cuts for US manufactured e-cars, batteries.
Business
Petrofac shares surge
Petrofact and Hitachi Energy secured a $14.1bn energy deal.
- European electricity grid operator TenneT awarded the pair multi-year projects to expand offshore wind capacity in the Dutch-German North Sea.
- Shares in Petrofac soared 58% to 77.5 pence after the group's outgoing CEO Sami Iskander said the deal would "deliver affordable clean energy for millions of European homes".
Geostrategy
Turkey set to approve Finland’s NATO bid
Finland and its neighbour Sweden ended decades of military non-alignment and decided to join NATO last May. Their applications were...
- Turkey's ratification will leave Finland with only a few technical steps before it becomes the 31st member of NATO
- Ratification is all but certain after President Erdogan ended months of negotiations and blessed Finland's candidacy
H&M stays in the black
The company's profit more than doubled in the first quarter.
- Shares in H&M surged following the announcement, rising 9% in the early hours of trading on the Stockholm stock exchange
- The world's second largest clothing retailer posted a net profit of 540 million kronor ($51.9 million) for its first quarter
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Turkish Airlines says offer to buy stake in Spain’s Air Europa accepted
Turkish Airlines on Tuesday said Air Europa had accepted its 300-million-euro ($350 million) offer to purchase a minority stake in...
Business
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Embracer sells Borderlands
Business
US stocks open mixed ahead post fresh economic data
Market Report
Saudi economy to register losses until 2027, says finance ministry
Saudi Arabia anticipates a budget deficit of 2.3 percent of GDP in 2025. Estimates put total government revenues for 2025...
Israeli special forces in ‘limited’ Lebanon ground operations, says United States
Israeli forces have launched limited incursions in Lebanon, the United States said on Monday, while Lebanon's national army, dwarfed by...
Two-thirds of Gaza buildings destroyed or damaged: UN
Updating its damage assessment, the UN Satellite Centre (UNOSAT) said very high-resolution imagery collected on September 3 and 6 showed...
Geostrategy
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Geostrategy
Lebanon urges DNA tests to identify missing in Israel strikes
Families should head to centers affiliated with the Judicial Police "to conduct DNA tests", the police said in a statement....
- Israel has heavily bombed Lebanon's east, south and southern Beirut suburbs
- Health Minister Firas Abiad said bodies and body parts were still under the rubble
Geostrategy
Israel targets Palestinian group in first strike on Beirut center
Israel hit a Beirut apartment block on Monday, killing three members of a Palestinian armed group in its first strike...
- AFP journalists reported drones flying over the Lebanese capital throughout Sunday
- Well over 200,000 people are displaced inside Lebanon and over 50,000 have fled to Syria
Geostrategy
Israel and Hezbollah: A complex history of decades-long conflict and tensions
Nicosia, Cyprus - Israel and Lebanon's Shiite Muslim movement Hezbollah, whose leader Hassan Nasrallah was killed in an Israeli air strike...
- Hezbollah - the "Party of God" - was born in the wake of Israel's 1982 invasion of Lebanon in the country's eastern Bekaa area, and overseen by Iran's Revolutionary Guards Corps
- In 1985 Hezbollah emerges from the shadows, establishing its armed wing the Islamic Resistance in Lebanon as the spearhead in the fight against Israel