Eight OPEC+ countries raise production by 547,000 bpd to regain market share
Iraq, United Arab Emirates, Kuwait, Kazakhstan, Algeria and Oman, along with the Saudis and Russians currently produce about 41-42 mbd.
Geostrategy
Israel’s Druze organise aid for violence-hit Syria community
In the quiet Galilee village of Julis, Israeli Druze volunteers are busy collecting food donations and gathering information to support...
Geostrategy
Business
Twitter owner Musk signals new ‘war’ against Apple
A series of tweets fired off by Musk included a meme of a car with his first name on it...
- Musk also joined the chorus crying foul over a 30 percent fee Apple collects on transactions via its App Store
- Since taking over Twitter last month, Musk has cut around half of Twitter's workforce, including many employees tasked with fighting disinformation
Geostrategy
EU passes resolution to sanction Russian allies
The European Union gave itself legal authority to take action against anyone who helps Russia avoid its sanctions, the EU...
- Member states unanimously agreed that violating restrictive measures against Russia be considered an "EU crime" across the bloc.
- The new resolution would help standardize the interpretation and enforcement of EU sanctions law across the 27-member union.
Business
Saudi Airport to build a new airport in capital Riyadh
Saudi Arabia announced plans for a new airport in Riyadh while advancing the kingdom's ambitious aviation goals. The airport, set...
- The airport is set to accommodate 120 million travelers by 2030 and 185 million travelers by 2050.
- The new airport is expected to be able to process 3.5 million tons of cargo by 2050, local media said.
Economy
Police bust cocaine ‘super-cartel’ in Dubai, Europe: Europol
The Hague, Netherlands—Police have dismantled a huge drugs "super-cartel" that controlled a third of Europe's cocaine trade, arresting 49 people in...
- The EU's policy agency said the huge international operation seized 30 tonnes of the drug and also involved arrests in France, Spain, Belgium and the Netherlands
- Europol said Dubai had arrested two "high-value" suspects who are linked to the Netherlands, another two linked to Spain and two more connected to France
Economy
UK start-up behind algae-based packaging bids for Earthshot glory
Notpla -- whose mantra is "we make packaging disappear" -- is competing with 14 other firms for five prestigious awards,...
- Viral online interest has helped attract the attention of investors, with Notpla expanding rapidly to boast more than 60 employees
- A recent OECD report found, at the current rate, worldwide plastic waste will triple by 2060 to one billion tones per year
Economy
Asian markets, crude drop on China unrest
Investors are now looking ahead to the release of US jobs data at the end of the week, which could...
- China-linked stocks took the brunt of selling, with Hong Kong's Hang Seng Index down two percent and Shanghai off one percent
- The prospect of a hit to demand in the world's biggest crude importer hammered oil prices, with both main contracts down more than two percent
Geostrategy
Riots erupt in Brussels after Morocco beat Belgium in World Cup
A surveillance helicopter flew over the city before calm was restored at around 7:00pm (18:00GMT). A journalist saw protesters burning...
- Spokeswoman of Brussels police said some fans were armed with sticks and a journalist "was injured in the face by fireworks"
- Video images showed police with batons and shields sweeping the city Centre. Riot police also dispersed fans in Amsterdam and The Hague
Economy
Iraq PM says ‘part’ of stolen US$2.5bn recovered
Appealing to guilty parties to hand themselves in and return all the money, the prime minister of Iraq has revealed...
- The scandal has provoked widespread ire in Iraq, an oil-rich country ravaged by endemic corruption
- According to a document from the country's tax authority, the colossal sum was allegedly expropriated between September 2021 and August this year through 247 cheques
Geostrategy
Iran sacks bank manager for serving an unveiled woman
Hardening its stance on the dress code, Iran has fired a bank manager who served an unveiled woman, according to...
- Mehr news agency reported that the bank manager in Qom province, near the capital Tehran, "had provided bank services on Thursday to an unveiled woman"
- The hijab became mandatory four years after the 1979 revolution that overthrew the US-backed monarchy and established the Islamic Republic
Geostrategy
Khamenei’s niece arrested for denouncing Iranian regime, says brother
Moradkhani is the daughter of Khamenei's sister Badri who fell out with her family in the 1980s and fled to...
- Farideh Moradkhani comes from a branch of the family that has a record of opposition to Iran's clerical leadership
- Her brother Mahmoud Moradkhani wrote on Twitter that she was arrested on Wednesday after going to the office of the prosecutor following a summons.
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Eight OPEC+ countries raise production by 547,000 bpd to regain market share
Iraq, United Arab Emirates, Kuwait, Kazakhstan, Algeria and Oman, along with the Saudis and Russians currently produce about 41-42 mbd.
Geostrategy
Company News
Latest News
Oil giant Aramco says to offer shares worth over $10 bn on Saudi bourse
Riyadh, Saudi Arabia - Oil giant Saudi Aramco said on Thursday it plans to sell 1.545 billion shares worth more than...
Business
US, UK air strikes hit several sites in Yemen
The British defence ministry said in a statement that its planes launched strikes in "a joint operation with US forces...
Geostrategy
Humanity in ‘race against time’ on Artificial Intelligence: UN
Geneva, Switzerland -- Humanity is in a race against time to harness the colossal emerging power of artificial intelligence for the...
Geostrategy
Most Read
Geostrategy
Car ramming attack kills two Israeli soldiers in West Bank: army
A car ramming attack killed two Israeli soldiers near the city of Nablus in the occupied West Bank, the Israeli...
- Violence in the West Bank flared against the backdrop of Israel's war against Hamas militants in Gaza
- The amount of humanitarian aid entering Gaza has dropped by two-thirds-UN
Geostrategy
China’s Xi to address Arab leaders seeking ‘common voice’ on Gaza
Meeting Sisi on Wednesday, Xi said he was "deeply pained" by the "extremely severe" situation in Gaza, where the Hamas-run...
- China's capital is this week hosting Egyptian President Abdel Fattah al-Sisi and several other Arab leaders for a forum in which Israel-Palestine war is expected to be discussed
- Beijing has good relations with Israel but has supported the Palestinian cause for decades and campaigned for a two-state solution to the Israeli-Palestinian conflict
Economy
Egypt hikes subsidized bread price for first time in decades
Cairo, Egypt - Egypt's cabinet decided Wednesday to raise the price of subsidized bread for the first time in 30 years,...
- The price of a loaf, long set at five piastres ($0.001), would quadruple to 20 piastres ($0.004) from June 1, Prime Minister Mostafa Madbouly told a news conference
- Madbouly acknowledged the move would be unpopular but emphasised the need to "rationalise the burden on the state treasury to ensure the sustainability of subsidies."