US Fed poised to hold off on rate cuts, defying Trump pressure
Policymakers at the independent Federal Reserve have kept the benchmark lending rate steady since the start of the year as...
Economy
Gaza civil defence says Israeli forces kill 28 people
Gaza's civil defence agency said Israeli military operations killed at least 23 people on Friday across the Palestinian territory, with...
Geostrategy
Economy
France braces for nationwide strike amid fuel shortage
Fuel workers voted to continue stoppages at several refineries run by TotalEnergies, the coordinator for the hard-left CGT union Eric...
- Leading unions have called for strikes Tuesday in their biggest challenge yet to President Emmanuel Macron
- The French government, increasingly impatient with striking workers, said it was forcing key staff back to work
Economy
Lebanese pound plunges to all time low against dollar
The Lebanese pound has been officially pegged at 1,507 to the dollar since 1997, a rate that has not reflected...
- The pound's market value fell to over 40,000 to the greenback, after it had stabilized at around 38,000 for weeks.
- The pound sank further as the country, led by a caretaker government, heads into presidential elections next month.
Economy
Social benefits and wages should rise with inflation: UN expert
"As with the Covid-19 pandemic, it is once again the most vulnerable that are paying the price of world events....
- "It is not hyperbole to say that unless governments increase benefits and wages in line with inflation, lives will be lost," said De Schutter.
- The expert also urged countries to involve people living in poverty in designing policies aimed at tackling the soaring cost of living.
Geostrategy
New Kuwaiti government sworn in after political crisis
Kuwait's crown prince swore in a new government, less than a month after the emirate held parliamentary elections in which...
- The new government team, led by Prime Minister Sheikh Ahmed Nawaf al-Ahmed Al-Sabah comes after lawmakers objected to an initial line-up in early October.
- The new government will be tasked with dealing with "priority issues" such as development, investments and the fight against corruption.
Business
BP to buy Archaea for US$4.1bn
BP bought US firm to reach net zero emissions by 2050.
- BP, the London-listed energy major, is flush with cash after recent surges in oil prices.
- There have been calls for the cash-strapped UK government to massively enlarge a windfall tax on British energy giants.
Geostrategy
Will immediately respond to new EU sanctions, says Iran
Iran vowed an "immediate" response to the European Union as it prepares new sanctions on the Islamic republic after over...
- Iran will "decide and act immediately in accordance with the decisions and actions" taken by EU member countries.
- Iran has been rocked by demonstrations since the death of 22-year-old Amini and a crackdown on protesters.
Economy
Sterling rises with UK finance minister set to unveil spending plans
Jeremy Hunt was put in place on Friday after Prime Minister Liz Truss sacked Kwasi Kwarteng as she battles to...
- The pound held above $1.12, having sunk Friday owing to the uncertainty in Westminster, while a news conference by Truss did very little to reassure nervous investors
- Bonds also rallied on the first day without the Bank of England support put in place in response to turmoil caused by Kwarteng's mini-budget
Economy
Credit Suisse to pay US$495m to settle legacy case
It has agreed to pay $495 million as part of a deal reached with US prosecutors in a long-running dispute...
- In the claim filed in 2013, Credit Suisse was criticized for not having provided sufficient information on the risks relating to $10 billion of mortgage-backed securities
- Last year, Credit Suisse paid $600 million to financial guarantee insurer MIBA to settle other long-running litigation connected to the US subprime mortgage crisis
Qatar to host 2023 Asian Cup football: AFC
China in June 2019 won the bid to host the event but pulled out in May because of its "zero-Covid"...
- South Korea and Indonesia were the other two countries in the running after China's withdrawal, but Qatar got the nod
- AFC president Shaikh Salman bin Ebrahim Al Khalifa said Qatar is ready to put on the event despite the short lead time to prepare
Economy
Biden faces tough options with Saudis after OPEC+ oil price hike
US National Security Advisor Jake Sullivan told CNN on Sunday that Biden would "act methodically, strategically" in re-evaluating US-Saudi relations,...
- Saudi Arabia has insisted the OPEC+ decision was purely economic and said US weapons sales serve both countries' interests
- The Biden administration has voiced openness to retaliatory measures in Congress by enraged fellow Democrats
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US Fed poised to hold off on rate cuts, defying Trump pressure
Policymakers at the independent Federal Reserve have kept the benchmark lending rate steady since the start of the year as...
Economy
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Arts & Culture
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UBS to reward shareholders
Business
Calls for calm after reported Israeli strike on Iran
An unidentified Israeli official told The Washington Post the "strike" was retaliation for Iran's drone and missile barrage and was...
Japanese AI tool predicts when recruits will quit jobs
Tokyo, Japan -- Bosses worried about turnover or wondering how long a new hire will stick around can now turn to...
Meta releases beefed-up AI models
The models are built on new versions of publicly available Llama 3.
Business
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Economy
Oil prices surge, Asian markets fall following Iran explosions
Oil prices surged more than three percent in early Asian trade, and Asian stock markets slumped by over 3 percent...
- West Texas Intermediate jumped 4 percent to $86 and Brent rose 3.9 percent to $90.5
- Asian stocks tumbled Friday, with Japan’s Nikkei slumping as much as 3.5 percent
Geostrategy
Israel strikes Syria again following overnight ‘retaliatory’ attack on Iran
Israeli strikes on Friday targeted a Syrian army position in the country's south, a war monitor said, as US media...
- Israeli strikes on Friday targeted a Syrian army position in the country's south,
- UN Secretary-General Antonio Guterres: The Middle East is on a precipice
Business
Norway wealth fund earns $109bn on gain in tech stocks in Q1
Oslo, Norway -- Norway's sovereign wealth fund, the world's largest, posted a gain of more than $100 billion in the...
- The fund's total return on investment reached 6.3 percent, with the yield on global equities reaching 9.1 percent.
- The fund — which manages assets worth $1.6 trillion — invests the surplus revenues of the country’s oil and gas sector in various assets