Trump announces 100% chip tariff, pressuring Asian producers
The US president unveiled the levy at the White House on Wednesday ahead of the imposition of sweeping tariffs on...
Economy
Only 1.5% of Gaza farmland usable, reveals latest satellite survey published by FAO
The survey, which dates from July 28, found that 8.6 percent of Gaza's farmland was accessible, but only 1.5 percent,...
Geostrategy
Business
Evergrande of China pledges to repay its debt in 2023
Beijing, China--China Evergrande has pledged to repay its debt this year, as the property giant faces a restructuring following Beijing's crackdown...
- The company has rushed to offload assets in recent months and has been involved in restructuring talks after racking up some $300 billion in liabilities
- An official document in November showed Evergrande had sold land earmarked for its headquarters in the southern tech hub of Shenzhen for $1 billion
Economy
Gas prices fall to lowest level in Europe since Ukraine war
EU nations have adopted a mechanism to cap natural gas prices, but analysts say it will likely have only a...
- Gas prices have been falling since August, hitting 73 euros on Monday -- 50 percent down from a month ago and the lowest level since before the war on February 21
- European nations filled up their gas storage facilities and launched campaigns to encourage consumers to save on energy during the winter
Economy
Singapore economy grows more than expected in 2022
Growth in the fourth quarter came in at 2.2 percent, sharply down from 4.2 percent in July-September, according to advance...
- Exports for computer chips and other products have been hit by softer global demand caused by surging inflation and sharp increases in interest rates
- Research house Capital Economics said it expects exports to fall further on expectations the global economy would enter a recession this year
Business
Shunned by youth, Morocco cosmetic oil craft faces uncertain future
A dozen women, sitting on the floor of a workshop inland from Essaouira, a port town on Morocco's Atlantic coast,...
- Morocco produces around 5,640 tonnes of argan oil annually, according to official figures, around 40 percent of it for export
- Argan is so important to the region between the towns of Essaouira and Agadir that in 1998 UNESCO declared a biosphere reserve in the area
Tesla’s 2022 deliveries disappointing
The company supplied 1.31m EVs last year.
- The Elon Musk-led company has set a long-term goal of increasing its deliveries by 50 percent a year on average
- Production was suspended at its Shanghai plant for several weeks during last year due to Covid restrictions
Business
Electric vehicles form 80% of new car sales in Norway
Electric vehicles in the Scandinavian country now account for almost four out of every five new car registrations, setting a...
- Norway, which is both a major producer of oil and gas, as well as a pioneer for zero-emission cars, comfortably beat the previous record of 64.5 percent set in 2021
- The country aims for all new cars to be "zero emission" -- in other words, electric and hydrogen -- by 2025.
Arts & Culture
Egypt recovers 2,700-year-old sarcophagus lid from US
Cairo, Egypt---Egypt announced Monday the recovery of a sarcophagus lid dating back nearly 2,700 years that it said had been smuggled...
- The lid, measuring nearly three metres (3.3 yards) in length and 90 centimetres (35.5 inches) in width, was among 17 artefacts recently recovered from the US.
- Over the past decade, Egypt has recovered about 29,000 antiquities found to have been taken abroad through illegitimate means.
Economy
European gas prices fall to lowest level since record high in 2022
A mild winter has enabled countries to tap less gas from stocks that were built up in anticipation of cuts...
- Gas exports by Russian energy giant Gazprom to the European Union and Switzerland fell by 55 percent last year, the company said Monday.
- Europe was previously Gazprom's main export market but supplies have been drastically reduced because of sanctions following Russia's offensive in Ukraine in 2022.
Economy
Transport employees in Tunisia stop work citing late salary
TUNIS, TUNISIA - Tram and bus workers in the Tunisian capital staged a strike over delays in salaries and the lack...
- The strike is the latest in a string of similar actions as Tunisia grapples with a grinding economic crisis
- The North African nation is struggling with debts of more than 100 percent of gross domestic product
Geostrategy
Half a ton of heroin seized from unflagged boat in Arabian Sea
Abu Dhabi, United Arab Emirates--The French navy seized nearly half a ton of heroin and 3.5 tons of cannabis resin when...
- It seized the drugs with an estimated value of 50 million euros after its frigate Guepratte spotted the dhow on December 27.
- Part of the illegal drugs shipment was "probably intended for the European market", said the command based in Abu Dhabi in the United Arab Emirates.
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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
Trump announces 100% chip tariff, pressuring Asian producers
The US president unveiled the levy at the White House on Wednesday ahead of the imposition of sweeping tariffs on...
Economy
Company News
Latest News
First Palestinian Olympic boxer fights hurdles before history
Beitunia, Palestinian Territories - Every morning Palestinian boxer Waseem Abu Sal checks texts from his Cairo-based coach -- a Gazan who...
Israel strikes southern Gaza after ordering evacuations
Other parts of the Gaza Strip were reeling from continued fighting nearly nine months into the devastating conflict. Witnesses and...
Geostrategy
UAE in top 10 global trending destinations: Travel Trends 2024
Dubai, UAE -- The Mastercard Economics Institute has revealed in its latest Travel Trends 2024 report a major shift in the...
Business
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Geostrategy
Gaza hospital chief says tortured in Israel detention
Israel's military has accused Hamas of using hospitals in the Gaza Strip as a cover for military operations. It has...
- Al-Shifa hospital director Mohammed Abu Salmiya was among dozens of Palestinians released and returned to Gaza for treatment
- Abu Salmiya said he and other prisoners were put through "severe torture" in Israeli prisons
Business
Boeing offered 737 MAX plea deal, lawyer of crash victims’ families says
Washington, United States - The US Justice Department is offering Boeing a plea deal that will allow it to avoid a...
- In May, the DOJ concluded that Boeing could be prosecuted for violating a previous DPA reached following the two fatal 737 MAX crashes in 2018 and 2019
- Under that three-year deal, Boeing agreed to pay $2.5 billion to settle fraud charges related to the certification of the 737 MAX
Geostrategy
Fighting rages in Gaza City’s Shujaiya for fourth day
A Hamas official in Lebanon, Osama Hamdan, confirmed that the Islamist movement had received the latest proposal but said it...
- Months of on-and-off talks towards a Gaza truce and hostage release deal have meanwhile made little progress
- Hamas said Saturday that there was "nothing new" in a revised plan presented by US mediators