UAE top court upholds life terms for 24 convicted in mass trial
Dubai, United Arab Emirates -- The UAE supreme court has jailed 24 people for life after upholding their convictions for...
Geostrategy
Cristiano Ronaldo extends contract with Saudi Arabia’s Al Nassr until 2027
Riyadh, Saudi Arabia -- Cristiano Ronaldo inked a two-year extension with Saudi Arabia's Al Nassr, the club announced Thursday, following...
Arts & Culture
Geostrategy
Gulf states on Iran’s doorstep scramble for end of war
Doha, Qatar -- As Iran and Israel trade strikes and the US weighs joining in, wealthy Gulf states on the...
- Peace and stability have been central to the rise of Gulf powers including Qatar, Saudi Arabia and the UAE, who are pivoting their economies towards business and tourism.
- Hoping to avert the crisis, Saudi Arabia has been talking to Iran and the United States since "day one", Ali Shihabi, an analyst close to the royal court.
Geostrategy
MENA Brief | June 18: Oil calms after Trump’s threat rattles markets; UAE-Iran calls, Riyadh Air signs big Rolls-Royce deal
Oil prices steadied Wednesday after Trump’s demand for Iran’s ‘unconditional surrender’ roiled markets and revived supply fears, as regional diplomacy...
- Oil surged over 4% Tuesday amid fears of US strikes on Iran after Trump’s comments but stabilised slightly Wednesday
- Analysts warn Iran could block the vital shipping lane if tensions escalate further; US refuelling jets reportedly en route to the region
Economy
US Fed set to hold rates steady as it guards against inflation
Washington, United States - The US central bank is expected to hold interest rates steady Wednesday after its key policy...
- The Federal Reserve has kept the benchmark lending rate unchanged this year at a range between 4.25 percent and 4.50 percent
- Beyond inflation data, policymakers are also trying to keep expectations "anchored," a state in which consumers expect price increases to remain low and steady
Geostrategy
Oil stabilises after surge, stocks drop as Middle East crisis fuels jitters
Of particular concern is the possibility of Iran shutting off the Strait of Hormuz, through which around an estimated fifth...
- Iran and Israel exchanged missiles for a sixth day, with the US president's latest comments appearing to dent hopes that the crisis in the Middle East could be calmed
- Of particular concern is the possibility of Iran shutting off the Strait of Hormuz, through which an fifth of global oil supply traverses, according to the Commerzbank note
Geostrategy
Iran says hypersonic missiles fired at Israel as Trump demands ‘unconditional surrender’
Despite international alarm, neither side has backed off from the long-range blitz that began Friday, when Israel launched an unprecedented...
- The US president insists Washington has played no part in ally Israel's bombing campaign, but also warned Iran his patience is wearing thin as the conflict enters a sixth day
- Israeli warplanes targeted the Iranian capital before dawn Wednesday after the military issued a warning on social media for civilians in an area known as District 18 to evacuate
Economy
Trump says EU not offering ‘fair deal’ on trade
US President Donald Trump said Tuesday that the European Union had yet to offer a "fair deal" on trade, as...
- "We're talking but I don't feel that they're offering a fair deal yet," Trump said of EU speaking to reporters on board Air Force One before returning to the US from G7 meet US
- Shortly after taking office, Trump upended the global economic order by accusing the United States' trading partners of unfair practices and he announced huge global tariffs
Geostrategy
Trump says wants ‘real end’ to Israel-Iran conflict, not ceasefire
Trump said that he wanted a "complete give-up" by Iran in return for peace, without elaborating on the outcome he...
- On Tuesday, long queues stretched outside bakeries and petrol stations as the remaining residents rushed to stock up on fuel and basic supplies.
- Security checkpoints have been set up across Tehran, adding to the atmosphere of tension as authorities monitor movement in and out of key districts.
Business
Cross-border payments and financial inclusion drive stablecoin popularity
London, United Kingdom -- Stablecoins -- a form of cryptocurrency backed by traditional assets -- are gaining traction, with the...
- Stablecoins play a key role in crypto markets, enabling users to trade digital assets without relying on traditional banks, instead using blockchain.
- Unlike volatile cryptocurrencies like bitcoin, stablecoins track the value of traditional assets -- such as the US dollar or gold -- enabling greater stability.
Economy
Global oil demand to dip in 2030, first drop since Covid: IEA
IEA cited sluggish economic growth, global trade tensions, the rise of electric cars and the shift away from crude to...
- Total demand is forecast to reach 105.5 million bpd in 2030 after peaking at 105.6 million bpd in 2029.
- Oil demand dropped dramatically in 2020, when countries locked down and shut their borders during the Covid pandemic, falling to 91.7 million bpd.
Geostrategy
MENA brief Jun 17: ADNOC Drilling appoints new CEO, Riyadh up in startup ranking
The DMCC Crypto Centre welcomed Bitcoin.com, which is setting up its first MENA office in Dubai. The Arab Coordination Group...
- Bahrain’s Central Bank reported a 188% oversubscription of its BD 70 million Treasury Bills, reflecting sustained investor confidence.
- In aviation, AviLease, the Saudi aircraft lessor, placed an order for up to 77 Airbus aircraft, including A320neo and A350F models.
UAE top court upholds life terms for 24 convicted in mass trial
Dubai, United Arab Emirates -- The UAE supreme court has jailed 24 people for life after upholding their convictions for...
Geostrategy
Company News
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Iran says not seeking nuclear weapons but will assert ‘legitimate rights’
As a fragile ceasefire with Israel took hold after 12 days of fighting that also included US strikes, Pezeshkian told...
Geostrategy
Pro-Palestinian protest leader details 104 days spent in US custody
Mahmoud Khalil, one of the most prominent leaders of pro-Palestinian protests on US campuses, recounted his experience surviving 104 days...
Geostrategy
NATO summit seeks to keep Trump happy – and alliance united
From meeting his spending demand to limiting the participation of Ukraine's President Volodymyr Zelensky, everything is being done to try...
Geostrategy
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Geostrategy
Trump announces phased ceasefire to end conflict, Iran offers to halt strikes if Israel stops
The adversaries had been swapping missile fire since Israel carried out surprise "preemptive" strikes against Iran on June 13, targeting...
- Trump had said the ceasefire would be a phased 24-hour process beginning at around 0400 GMT Tuesday, with Iran halting all operations. Israel would follow suit 12 hour later
- Abbas Araghchi suggested that Iran had already halted its operation at 4am Tehran time (0030 GMT) -- and wanted a simultaneous end in attacks from Israel as well
Geostrategy
Iranian ballistic missiles target US base in Qatar, the largest in Middle East
No casualties reported in the attack that came a day after the US attacked three key nuclear facilities in Iran....
Geostrategy
EU seeks Gaza progress after Israel found in breach of cooperation deal
Brussels, Belgium -- The EU said Monday that Israel must improve the humanitarian situation in Gaza or else face possible...
- The European Union's top diplomat, Kaja Kallas, said the bloc hopes to use a review of the EU-Israel Association Agreement to pressure Israel to ease suffering in Gaza.
- The bloc last month launched an audit of the EU-Israel deal, which forms the basis for trade ties, under one of its articles calling for respect of human rights.