IMF lifts 2025 global growth forecast on ‘fragile’ easing in trade tensions
Looking ahead, the IMF expects the world economy to expand 3.1 percent next year, an improvement from the 3.0 percent...
Economy
Food arrives in Gaza after Israel pauses some fighting
Gaza City, Palestinian Territories -- Truckloads of food reached hungry Gazans on Monday after Israel promised to open secure aid...
Geostrategy
Geostrategy
Egypt president invites incoming Brazilian president Lula to COP27
Luiz Inacio Lula da Silva's victory over climate-skeptic Jair Bolsonaro has raised hopes for the battle against global warming. Election...
- More than 90 heads of state and government -- including US President Joe Biden -- are set to converge on the Egyptian resort town between November 6 and 18.
- Climate scientists and environmentalists have repeatedly noted that the outcome of last week's Brazilian election would have huge stakes for the planet.
Market Report
Global stocks rise on Fed optimism, zero-Covid China policy reports
Global stock markets rose as traders looked to the US Federal Reserve's interest rate decision hoping it will signal a...
- Recent reports have suggested officials are looking to dial down the pace of increases, which has sparked a rally in risk assets over the past week.
- Positive results from multinational firms also helped lift equities.
Economy
Libya aims to double oil output by 2027: National Oil Company head
Tripoli, Libya---Libya is aiming to nearly double its oil output to two million barrels per day by 2027, the head...
- Farhat Bengdara said the country, which currently produces around 1.2 million bpd, was expecting revenues of "$35-$37 billion" this year.
- The NOC chief was taking part in the ADIPEC energy conference in Abu Dhabi, where he also said he expected to sign an $8 billion deal with Italian major ENI.
Business
Musk seeks changes at Twitter as he finalizes takeover
After changing his Twitter bio to "Chief Twit," Musk reportedly worked over the weekend with software engineers from Tesla to...
- Musk's team has reportedly been attempting to monetize Twitter's identity verification feature, which gives certain users a prized blue check mark
- According to another Twitter document filed with the SEC, Saudi Prince Al-Waleed Bin Talal has become the site's second-largest shareholder
Geostrategy
EU presidency says sanctions may next target Belarus
The Czech prime minister, whose country holds the rotating EU presidency, said the bloc may look at sanctions on Belarus...
- The EU has imposed sweeping sanctions against Russian industry and individuals.
- Certain sanctions against Belarus are already in place, but EU can't have Belarus joining Russia's policy, says the Czech prime minister.
Business
BP underlying Q3 profit at $8.2bn
BP, flush with cash, revealed a $2.5 billion share buyback.
- Profits were weaker than the second quarter due to a dip in oil prices.
- BP is meanwhile seeking to pivot towards cleaner energy and away from fossil fuels.
Geostrategy
Lebanon now without president as Michel Aoun’s mandate expires
Aoun's six-year term, that came to a close on Sunday, was marred by mass protests, a painful economic downturn and...
- Today, headed by a caretaker government, Lebanon is unable to enact the reforms needed to access billions of dollars from international lenders to help save the economy.
- Aoun signed on Sunday a decree formalising the resignation of premier Najib Mikati's government, in a caretaker role since legislative elections in May.
Arts & Culture
The eight stadiums that will host World Cup 2022 matches in Qatar
Lusail Iconic Stadium, which will host the final on Dec 18, is Qatar's biggest with a capacity of 80,000. There...
- Al Khor, Al Bayt Stadium, the second biggest, is constructed in the form of a Bedouin tent although there are plans for the upper tier to be removed after the competition.
Geostrategy
Israelis vote as Netanyahu seeks return to power
Such a scenario has led to despondency among many Arab-Israelis -- who make up around 20 percent of the population...
- The latest ballot follows the collapse of the so-called "change" coalition, which united eight disparate parties
- The extreme-right leader Itamar Ben-Gvir may be key to helping Netanyahu return to the premiership
Geostrategy
Algeria hosts first Arab summit since Israel normalisation deals
Since the last Arab League summit in 2019, several members of the 22-member bloc -- for decades a forum for...
- The main roads of Algiers have been decked out with Arab flags and huge billboards welcoming "brother Arabs."
- remains a steadfast supporter of the Palestinians, even mediating a reconciliation deal in October between rival Palestinian factions Fatah and Hamas
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IMF lifts 2025 global growth forecast on ‘fragile’ easing in trade tensions
Looking ahead, the IMF expects the world economy to expand 3.1 percent next year, an improvement from the 3.0 percent...
Economy
Company News
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Bezos sells $2bn Amazon shares
Business
Empty streets and ‘fear’ in Gaza’s Rafah since Israeli incursion
Rafah, Palestinian Territories - Displaced Gazan Marwan al-Masri, sheltering in Rafah, said on Wednesday "life has completely ceased" since Israeli tanks...
Geostrategy
South Gaza hospitals have only three days’ fuel left: WHO
Despite international objections, Israel sent tanks into the overcrowded southern city of Rafah on Tuesday and seized the nearby crossing...
Geostrategy
Apple’s latest iPad signals the company’s AI-powered future
San Francisco, United States - Apple on Tuesday announced a line of new iPad tablets revamped with a powerful AI chip...
Business
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Business
Aramco Q1 profit down 14.5%
Despite lower profit, it will pay $31bn in dividends to Saudi government.
- Net income was 102.27 billion riyals ($27.27 billion), down from 119.54 billion riyals ($31.88 billion) for the same period in 2023.
- Aramco is currently producing roughly nine million barrels per day (bpd), well below its capacity of 12 million bpd.
Pulitzer Prizes honor coverage of war in Gaza
New York, United States - The war in Gaza featured prominently in Monday's Pulitzer Prizes, which included a special citation for...
- The New York Times won a Pulitzer in international reporting for its "wide-ranging and revelatory coverage of Hamas's lethal attack in southern Israel on Oct. 7
- Reuters meanwhile won the award for breaking news photography for its "raw and urgent" coverage of the October 7 attack and Israeli response
Geostrategy
Hamas accepts Gaza truce proposal, Israel urges Rafah evacuation
Israeli Prime Minister Benjamin Netanyahu's office said the proposal "is far from Israel's essential demands", but the government will send...
- The Hamas announcement brought cheering crowds onto the street amid tears of happiness, chants of "Allahu Akbar" ("God is greatest") and celebratory shooting in the air
- Israel's military meanwhile reiterated an earlier call for residents of east Rafah to evacuate as it prepares for a "ground operation" in the southern Gaza city