France, 14 other nations urge recognition of Palestinian state, Canada may do so in September
The foreign ministers of 15 countries issued a joint statement following a conference in New York, co-chaired by France and...
Geostrategy
Dubai International Airport logs record 46 million travelers in first half
Dubai, United Arab Emirates -- Dubai International Airport welcomed a record 46 million passengers in the first half of this...
Business
Rich nations greenlight S.Africa coal transition plan
The announcement was made at the UN's COP27 climate summit in Egypt's Sharm el-Sheikh, where developed countries are under pressure...
- Britain, France, Germany, the US and the EU will provide the funds in the form of grants and loans
- The Just Energy Transition Partnership (JETP) was first announced last year at the COP26 in Glasgow
Business
EU warns of retaliation against US electric car subsidies
Paris, France - The European Union threatened Monday to take retaliatory measures against the United States for electric car subsidies...
- EU is upset about Washington's "Inflation Reduction Act", which includes vast spending on green energy initiatives.
- If US doesn't take into account the views of EU, the bloc could "go to the WTO" and make its arguments against it.
Geostrategy
COP27: $1.4 bn climate grant for Africa, S. Asia farmers
A COP27 announcement said the Bill and Melinda Gates Foundation grant, distributed over four years, is earmarked for scaling up...
- Organizations representing some 350m farmers warned Monday global food security is at risk unless governments finance small-scale production.
- Agriculture forms the backbone of many African economies, employing on average over 50 percent of the labour force.
Geostrategy
COP27: Choose climate solidarity or collective suicide, UN chief tells world leaders
Humanity is in "the fight of our lives" as climate change intensifies droughts, floods and heatwaves, UN chief Antonio Guterres...
- The UN chief called for a "historic" deal between rich countries and emerging economies that would aim to reduce emissions.
- The UN chief said the target should be to provide renewable and affordable energy for all.
Market Report
Stocks rise, oil falls tracking China lockdown policy
Stock markets mostly rose, extending last week's strong gains, while oil prices fell after China reaffirmed its commitment to its...
- The dollar was down against key rivals ahead of this week's US midterm elections.
- Global markets and oil prices were buoyant last week on hopes Beijing may begin to roll back policies aimed at stamping out the disease within its borders.
Economy
WTO urges countries to lift green trade barriers
The World Trade Organization urged countries to abolish trade barriers in environmental goods and services to help fight climate change....
- Trade is a force for good for climate and part of the solution for achieving a low-carbon, resilient and just transition, the WTO said.
- Reducing tariffs and non-tariff measures on energy-related environmental goods could increase exports of these products by five percent by 2030, the WTO said.
Economy
Vietnam struggles to shake off its coal addiction
During the COP26 climate summit last year, the government boldly promised to end the construction of new coal plants and...
- Vietnam pledged to reach net-zero carbon emissions by 2050, but with coal and gas still a major part of its energy mix one year later, that commitment is on shaky ground
- G7 countries could announce billions of dollars in funding to help steer Vietnam away from fossil fuels and the country could attract billions more in clean energy investment
Geostrategy
World leaders gather for climate talks under cloud of crises
At the opening ceremony on Sunday, COP27 officials urged governments to keep up efforts to combat climate change despite soaring...
- "The fear is other priorities take precedence. The fear is that we lose another day, another week, another month, another year," UN official Simon Stiell said.
- Nearly 100 heads of state and government began to arrive for the summit, with the notable absence of Chinese leader Xi Jinping, whose country is the world's top emitter of gases.
Geostrategy
Iran government grapples with fresh bout of protests
The protests were fanned by fury over the restrictive dress rules for women, over which Amini had been arrested. But...
- Images posted on social media showed protesters threw stones at the official administration building and took down and burned the Iranian flag
- On Sunday, the vast majority of Iran's lawmakers -- 227 out of 290 -- urged the judiciary to apply "an eye for an eye" retributive justice amid the protests
Geostrategy
Iran MPs demand ‘rioters’ face ‘eye for an eye’ justice
The lawmakers also urged the judiciary to "deal decisively with the perpetrators of these crimes and deal with all those...
- The declaration, approved by 227 parliamentarians, comes as protests following the death of Mahsa Amini enter eighth week
- Amini died in custody in mid-September following her arrest by Tehran's morality police for allegedly breaching the country's dress code for women
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France, 14 other nations urge recognition of Palestinian state, Canada may do so in September
The foreign ministers of 15 countries issued a joint statement following a conference in New York, co-chaired by France and...
Geostrategy
Company News
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Riyadh to host Saudi’s first snooker event in 2024
Arts & Culture
Quarter of Gazans displaced again as fighting rages north to south
Fighting has flared in north Gaza four months after the army said Hamas's command structure there had been dismantled, and...
US says Boeing can be prosecuted for 737 MAX crashes
San Francisco, United States - The US Justice Department on Tuesday said Boeing can be prosecuted for two subsequent 737 Max...
Business
Summer 2023 was the hottest in 2,000 years: study
Paris, France -- Last year's northern hemisphere summer was the hottest in 2,000 years, according to a new study published on...
Geostrategy
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Geostrategy
Lebanon resumes ‘voluntary’ repatriations of Syrians
Syrian state news agency SANA reported that an unspecified number of people had arrived from Lebanon as part of the...
- Around 330 people had registered to be part of the "voluntary return"
- Lebanon, which has been mired in a crushing economic crisis since late 2019, says it hosts around two million Syrians, the world's highest number of refugees per capita
Geostrategy
Fierce fighting rocks Gaza after US warning of anarchy, insurgency
The city on the Egyptian border had been sheltering 1.4 million Palestinians, according to the United Nations, but Israel's military...
- AFP correspondents in Gaza reported helicopter strikes and heavy artillery shelling in the east of Rafah, as well as battles in northern Gaza's Jabalia refugee camp
- Israel last week defied a chorus of warnings - including from top ally Washington - and sent tanks and troops into the east of Rafah to pursue fighters
Economy
India, Iran sign 10-year agreement to develop port project
Tehran, Iran - India and Iran on Monday signed a 10-year contract to develop and equip the strategic Chabahar port in...
- The agreement will give India 10-year access to use the port, located close to Iran's southeastern border with Pakistan, according to Iran's Ministry of Roads and Urban Development
- The contract will in turn see India Ports Global Limited (IPGL) invest $370 million into "providing strategic equipment" and "developing the transport infrastructure of the port".