Davos founder Schwab cleared of misconduct by WEF probe
Geneva, Switzerland -- An investigation conducted by the World Economic Forum's board on Friday cleared the body's founder Klaus Schwab...
Geostrategy
Emaciated Gaza woman dies after humanitarian flight to Italy hospital
A young Palestinian woman who was flown from Gaza to an Italian hospital in a severely emaciated state for treatment...
Geostrategy
Geostrategy
Russia agrees to grain export deal extension for 60 days
Russia has agreed to extend the Ukraine grain export deal following talks with the United Nations - but only for...
- The grain export deal has helped ease the global food crisis triggered by Russia's full-scale invasion of Ukraine in February 2022.
- The invasion saw Ukraine's Black Sea ports blocked by warships until a deal signed in July allowed for the safe passage of exports of critical grain supplies.
Geostrategy
Enforcement alone is no fix for cross-channel migration woes: UN
British Prime Minister Rishi Sunak and French President Emmanuel Macron last Friday agreed a new pact worth over 500 million...
- More than 3,000 migrants have arrived in Britain in small boats across the Channel so far this year, and the backlog of asylum claims now exceeds 160,000.
- The deal will see Britain step up funding to France to allow hundreds more French police to patrol the Channel and also establish a new detention cent as a further deterrent.
Geostrategy
Tunisia swears in new parliament with truncated powers
Tunisia inaugurated a new parliament largely stripped of its powers, after a vote that saw a paltry turnout amid boycotts...
- The new parliament was elected after a new constitution was passed in a July 25, 2022 referendum granting President Kais Saied unchecked powers.
- The referendum was held exactly a year after he froze the previous legislature and dismissed Tunisia's government, before assuming wide-ranging powers.
Geostrategy
Would welcome restoration of ties with Bahrain, says Iran
Iran said it would welcome restoring ties with Bahrain to end seven years of ruptured relations, following the China-brokered deal...
- Iran and Saudi Arabia support rival sides in several conflict zones including Yemen.
- Some of Saudi Arabia's Gulf Arab allies have already sent envoys back to Iran.
Geostrategy
UN investigators hit out at lackluster help for Syria quake victims
GENEVA, SWITZERLAND - The world failed to act quickly enough to rush life-saving aid to Syrians in desperate need following the...
- Almost 6,000 people were killed in Syria by the 7.8-magnitude tremor that struck the country and neighboring Turkey.
- The UN estimates that five million people need basic shelter and non-food assistance in the quake-hit part of Syria.
Governments to vet crucial UN climate science report
Diplomats from nearly 200 nations and top climate scientists begin a week-long huddle in Switzerland Monday to distill nearly a...
- Among the IPCC findings that could be highlighted in the synthesis report is the looming threat of deadly heat
- The synthesis report will reflect debate over the best way to decarbonize the global economy
Geostrategy
Belarus, Iran vow to boost ties amid Russia’s Ukraine war
Lukashenko said he had observed "with great respect the perseverance with which the (Iranian) people resist external pressures, attempts to...
- Ex-Soviet state Belarus serves as a rear base for Russian troops, and Iran is accused of supplying Moscow with armed drones
- Iranian President Ebrahim Raisi hailed three decades of close ties with Belarus after talks with his counterpart Alexander Lukashenko
Economy
Biden vows to fix ‘mess’ as US regulators rush to contain SVB fallout
Treasury Secretary Janet Yellen said the government wants to avoid financial "contagion" from the SVB implosion, as it ruled out...
- Joe Biden vowed to hold accountable the people responsible for SVB collapse and said he would deliver remarks Monday on maintaining a resilient banking system
- In a joint statement, financial agencies including US Treasury said SVB depositors would have access to "all of their money" starting Monday, March 13
Business
HSBC buys UK arm of SVB
In a rescue deal, it bought SVB for a nominal price of $1.2.
- Jeremy Hunt, finance minister, disclosed that no government cash was involved and all customer deposits have been safeguarded
- HSBC chief executive Noel Quinn said that the buyout made "excellent strategic sense for our business in the UK"
Geostrategy
Boat capsizes off Libya, nearly 30 migrants feared drowned
Italy's coastguard said the boat in distress was in Libya's search-and-rescue zone, and that the deadly episode laid bare "the...
- Seventeen migrants were saved and a search was underway for the missing after the early-morning attempted rescue in Libya's search-and-rescue zone, the coastguard said
- On Saturday, the Italian coastguard brought more than 1,300 rescued migrants safely to Italian ports after three packed boats ran into bad weather
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
Davos founder Schwab cleared of misconduct by WEF probe
Geneva, Switzerland -- An investigation conducted by the World Economic Forum's board on Friday cleared the body's founder Klaus Schwab...
Geostrategy
Company News
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Italy’s Enel doubles net profit
Business
First Palestinian ambassador to Spain submits credentials
The head of state welcomed Housni Abdel Wahed to the royal palace in Madrid for the traditional ceremony for newly...
Geostrategy
Europe’s Electric Vehicle troubles bubble up at Brussels Audi factory
Brussels, Belgium -- Outside an Audi factory in Brussels described by the German carmaker as the "cradle" of its electric drive,...
Business
Yemeni rebel missile hits central Israel in rare attack
Jerusalem, Undefined - A missile launched by Yemen's Hamas-aligned Houthi rebels hit central Israel on Sunday, a rare incident which caused...
Geostrategy
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Geostrategy
Gaza rescuers say Israeli strike on house kills 11, including children
"We have recovered the bodies of 11 martyrs, including four children and three women, after an Israeli warplane hit a...
- "Several families had taken refuge in the house targeted with a single missile without any prior warning," Bassal said, adding that many others were wounded.
- Bassal said Israeli forces carried out similar strikes in some other parts of the Hamas-run territory overnight, killing at least 10 people.
Geostrategy
US blames Iran-linked group for attack on Iraq diplomatic compound
The US embassy in Baghdad said in a statement issued on Friday that the attack was "initiated by Iran-aligned militia...
- An explosion rocked the compound located within the perimeter of Baghdad International Airport late Tuesday night
- The attack occurred amid rising regional tensions over the Gaza war and shortly ahead of a visit by Iranian President Masoud Pezeshkian to Iraq
Business
Stock markets rise, gold hits record high as US rate cut nears
More data this week suggesting the Federal Reserve was winning the battle against inflation provided an extra kick for global...
- Investors are focused on the highly anticipated Fed meeting after data this week showed US consumer inflation slowed more than expected in August to 2.5 percent.
- The Fed cut rates early in the pandemic, then began hiking in 2022 as inflation rose, pushing rates to a 20-year high.