World economies reel from Trump’s tariffs
The tariffs are a demonstration of raw economic power that Trump sees putting US exporters in a stronger position while...
Economy
Trump’s global trade policy faces test, hours from tariff deadline
The last-gasp scramble to strike bilateral accords came as an appeals court in Washington considered the legality behind Trump's strategy...
Economy
Economy
Algeria to help Cuba as energy shortages bite
Algeria and Cuba have had friendly relations for decades, with the first Cuban doctors dispatched to the North African country...
- The announcement was made as Cuban President Miguel Diaz-Canel visited Africa's biggest gas exporter
- Algeria will grant Cuba a solar power plant and resume the supply of fuel to allow Cuba to restart power plants and stop the power cuts
Economy
UK rolls out budget full of tax hikes as recession seeps in
Britain unveiled a painful budget with $65 billion of tax hikes and spending cuts despite confirming its economy was in...
- Finance minister Jeremy Hunt said the measures were needed to bring financial stability after recent markets turmoil.
- The pound had hit a record-low close to parity against the dollar in late September after Truss failed to reveal the impact of her tax cuts on growth and inflation.
Geostrategy
Three officials sacked after second fire at Baghdad airport in three days
The latest fire came after three people were lightly hurt on Tuesday when a blaze broke out in a refreshments...
- There were no casualties in the latest blaze, which damaged several airline offices in the two-storey Nineveh Terminal.
- Prime Minister Mohammed Shia al-Sudani travelled to the airport to be briefed on a probe launched following the fire
Geostrategy
Israel and Jordan agree to clean polluted Jordan river
Jordan is one of the world's most water-deficient countries, suffering from extreme droughts, and water cooperation with Israel long pre-dates...
- The agreement inked at the COP27 stresses the need to rehabilitate the river system which, experts say, has lost roughly half of its biodiversity.
- Israel's environmental protection minister, Tamar Zandberg, called the pact "an expression of the close relationship... between the two countries".
Geostrategy
Mourners hit streets as Iran protests take bloody turn
Hundreds of mourners poured onto the streets of a flashpoint Iranian city, defying a lethal crackdown on protests over Mahsa...
- The tradition in Iran of holding a "chehelom" mourning ceremony 40 days after a death has fuelled the demonstrations.
- Iran's Foreign Minister Hossein Amir-Abollahian accused Israel and its allies of plotting against the country.
Business
Alibaba posts Q3 loss of $2.9bn
Firm's result is seen as a gauge of Chinese consumer sentiment.
- The heavy net loss attributable to ordinary shareholders was primarily due to a decrease in market prices of its equity investments in publicly traded companies.
- Alibaba said it achieved revenue growth by "enhancing operating efficiency" as well as through the expansion of its logistics and services businesses.
Geostrategy
Lebanon MPs fail for sixth time to elect president
Lebanese lawmakers failed for a sixth time to elect a successor to former president Michel Aoun, whose mandate expired last...
- There have been delays in electing previous Lebanese presidents.
- This year's vacancy comes as Lebanon is mired in an economic crisis that the World Bank has dubbed one of the worst in recent history.
Business
Siemens posts Q4 profit of $3bn
Firm posts FY 2021-22 net profits of around US$4.6 billion.
- Siemens Energy's loss-making wind turbine maker subsidiary, Siemens Gamesa, has faced huge struggles.
- Siemens Energy was spun off in 2020 from Siemens, which still owns a 35 percent stake.
Economy
Travel-weary Saudi superfan awaits World Cup at ‘home’
Saudi officials are putting on 240 weekly flights linking the kingdom to Qatar, up from six normally, and easing overland...
- This year's World Cup in neighboring Qatar, by contrast, has the feel of a home game for Saudi fans as Doha is a mere two-hour flight from Jeddah
- Turkistani, a Saudi fan is ready to welcome his other fellow citizens in Doha, having stocked up on green-and-white t-shirts, plastic blowhorns, drums and balloons to distribute
Arts & Culture
Warhol piece sells for $85m at New York auction
The last time a piece of art from Warhol's "Death and Disaster" series was sold in 2013, it set a...
- In May, Warhol's 1964 portrait of Marilyn Monroe, "Shot Sage Blue Marilyn," was auctioned for $195 million, becoming the most expensive 20th-century work ever sold at auction.
- The piece of art sold Wednesday came from a private collection and Sotheby's gave no information on the buyer.
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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
World economies reel from Trump’s tariffs
The tariffs are a demonstration of raw economic power that Trump sees putting US exporters in a stronger position while...
Economy
Company News
Latest News
Norway, Ireland, Spain to recognize Palestinian state
The announcement is the second diplomatic blow this week after the International Criminal Court prosecutor said he would seek arrest...
Israel furious as 3 European countries recognize Palestinian state
Israel reacted with fury after three European countries said Wednesday they would recognize a Palestinian state, more than seven months...
Geostrategy
Medics, WHO say north Gaza hospitals barely operational
North Gaza's last two functioning hospitals, Al-Awda and Kamal Adwan, are barely operational, doctors and the World Health Organization said...
Geostrategy
Most Read
What is flight turbulence and why does it happen?
Washington, United States - Airplane turbulence, which led to the death of a passenger on a Singapore Airlines flight on Tuesday,...
- Storms, cold and warm fronts, and the movement of air around mountains can all cause turbulence in the air that planes fly through
- Turbulence can also occur in jet streams - highways of strong wind that circulate around the globe at certain latitudes
Geostrategy
US and UN ‘shocked’ over Israel’s ban on American news agency AP
After shutting down offices and confiscating equipment of the Al Jazeera news channel in Israel, Netanyahu's government has shut down...
- Israeli opposition leader Yair Lapid reacted to the decision on X, saying the government "went crazy".
- US news agency Associated Press has won 53 Pulitzer Prizes - one of the highest honors in news journalism
Geostrategy
Women’s tennis signs ‘multi-year partnership’ with Saudi investment fund
New York, United States -- The women's tennis tour (WTA) on Monday announced "a multi-year partnership" with the Saudi Arabian sovereign...
- The WTA said in a statement that it shared with PIF an "ambition to grow women's professional tennis and inspire more women and girls around the world to take up the game."
- In early January, Saudi Arabia appointed Rafael Nadal as ambassador of the Saudi Tennis Federation.