Syrian, Israeli ministers meet US envoy in Paris: senior diplomat
The US special envoy for Syria said he held talks with Syrian and Israeli officials in Paris on Thursday on...
Geostrategy
Geostrategy
UN terms detention of Moroccan journalist “arbitrary”
The UN experts said publishing the column was a matter of freedom of expression, and concluded that he had been...
- Raissouni was jailed on appeal for five years in February, one of several journalists critical of Morocco's government to have been imprisoned for sex crimes
- He was arrested two days after publishing an editorial criticizing the authorities for taking over-zealous measures during the coronavirus pandemic
Business
EU energy head hails “partnership” with Algeria
Seeking new exporters of gas to the continent, European Union's energy commissioner has hailed a "long-term strategic partnership" with Algeria...
- Algeria has helped Europe diversify its energy supplies by pumping more gas to Italy, which in July signed a deal to import billions more cubic metres
- Energy Minister Mohamed Arkab said his country was "a trusted supplier" that always honors its obligations
Geostrategy
UN urges transformation of global energy system
Climate change risks undermining global energy security unless the use of renewables is dramatically scaled up, the UN warned Tuesday,...
- Energy sector is a major source of the carbon emissions that drive climate change, the UN's World Meteorological Organization said.
- WMO said that increasingly extreme weather events, droughts, floods and sea-level rise - all linked to climate change - were already making energy supply less reliable.
Economy
Syrian pound hits record low on black market, aggravating hardships
The exchange rate reached more than 5,000 Syrian pounds to the US dollar for the first time since the start...
- The new unofficial rate means the currency is now worth almost 99 percent less on the black market than the official rate before the start of the conflict.
- The collapse of the pound has driven up the price of goods and aggravated hardship.
Market Report
Equities, oil prices slide on recession fears
Stock markets and oil prices slumped as investors grow fearful that more big interest rate hikes will tip economies into...
- Traders had hoped that bumper rate increases by the US Federal Reserve this year would begin to drag on the economy and slow runaway prices.
- Chip manufacturers globally took a pounding from new US export controls.
Geostrategy
Lebanon asks TotalEnergies to launch gas search ‘immediately’
Lebanon's search for gas riches in the hydrocarbon-rich eastern Mediterranean had stalled since 2020 over competing claims with Israel over...
- TotalEnergies is part of a consortium of energy giants awarded a license to explore for gas in two of Lebanon's 10 blocks, numbers 4 and 9.
- One well drilled in Block 4 in 2020 by TotalEnergies, Eni and Novatek showed only traces but no commercially viable gas deposits.
Geostrategy
US climate spending could spark tariff war, says Scholz
German Chancellor Olaf Scholz criticized US climate protection plans that would shield domestic companies from foreign competition, saying they could...
- European Union officials have in recent weeks spoken out against planned US tax credits for the domestic electric vehicle market.
- South Korea has also voiced its displeasure, calling the new rules favoring American e-cars a "betrayal".
Economy
54 poor nations urgently need debt relief: UN
The agency's report, published ahead of meetings of International Monetary Fund, the World Bank, and also of G20 finance ministers...
- The UNDP warned that dozens of developing nations were facing a rapidly deepening debt crisis and that the risks of inaction are dire.
- The UN agency said debt troubles had been brewing in many of the affected countries long before the Covid-19 pandemic hit
Geostrategy
Turkey says Erdogan to meet Putin in Astana on Wednesday
Erdogan still hopes to bring Putin and Ukrainian President Volodymyr Zelensky together for truce talks that neither side particularly wants...
- Erdogan has not yet commented on the mass Russian strikes across Ukraine on Monday, which killed at least 19 people and wounded more than 100
- Turkish ForeigN Minister held a phone call with Ukrainian counterpart Dmytro Kuleba after the attacks, a Turkish diplomatic source said, without elaborating further
Economy
Oxfam says world failing to address ‘dangerous’ inequality
The UN and Oxfam have previously decried the unequal distribution of vaccines from richer Western countries to lower-income ones, particularly...
- Oxfam also found that two-thirds of countries failed to increase their minimum wage in line with gross domestic product
- It delivered a withering criticism of most nations, arguing that the pandemic should have been a "wake-up call" to act on poverty in general
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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
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Equities sink, oil rallies on fears of Iran-Israel conflict
Stock markets fell and oil prices climbed Tuesday on growing fears of a wider war in the Middle East after...
Economy
‘Bad for business’: Gulf states scramble to avert wider war
Gulf states are grappling with the widening Middle East conflict as hostilities between Iran and Israel threaten their security and...
Geostrategy
Iran closed nuclear facilities in wake of Israel attack: IAEA chief
Tehran, Iran Iran temporarily closed its nuclear facilities over "security considerations" in the wake of its massive missile and drone...
Geostrategy
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Geostrategy
Hezbollah claims attack on Israeli troops who had crossed border
It was the first time Hezbollah claimed such an attack in six months of near-daily cross-border clashes between the Iran-backed...
- Israel's army said four soldiers were wounded overnight in an explosion "in the area of the northern border"
- One of the soldiers was "severely injured" it said
Geostrategy
Kremlin, the world, urge restraint following Iranian strikes on Israel
The Kremlin on Monday called for a de-escalation in the Middle East after Iran's unprecedented weekend attack on Israel. "We...
- Israel struck war-battered Gaza overnight
- Tehran on Monday called on Western nations to "appreciate Iran's restraint" towards Israel
Business
OpenAI comes to Asia
The ChatGPT creator opens first Asian office in Tokyo.
- The Japan office is the latest part of the Microsoft-backed firm's international push, having already set up bases in London and Dublin.
- OpenAI, reportedly valued at $80 billion or more earlier this year, is the latest major tech firm to invest in Japan.