China’s premier tells EU leaders ‘we can’t afford’ massive industrial subsidies
Chinese Premier Li Qiang dismissed EU fears over Beijing's allegedly excessive subsidies to its industry, telling the bloc's leaders "we...
Economy
Israel recalls Gaza negotiators after Hamas responds to ceasefire plan
Mediators have been shuttling between Israeli and Hamas delegations in Qatar for more than two weeks, but the indirect talks have...
Geostrategy
Business
Meta warns of password stealing phone apps
So far this year, Meta has identified more than 400 "malicious" apps tailored for smartphones powered by Apple or Android...
- The apps often ask people to login with their Facebook account information to use promised features
- Meta said that it shared what it discovered with Apple and Google, who control what is offered at their respective app shops
Business
Deal reached for civil aviation to try for net-zero emissions by 2050
The assembly, which brought together representatives from 193 nations at the International Civil Aviation Organization (ICAO) headquarters in Montreal, reached...
- The agreement, however, was far from satisfying for some NGOs expressing regret it didn't go far enough and was not legally binding
- The air transportation industry has faced growing pressure to deal with its outsized role in the climate crisis
Geostrategy
Britain says no energy crisis as people brace for blackouts
Britain, however, relies on gas to create a large proportion of electricity and is therefore particularly exposed to the soaring...
- Households face possible rolling three-hour power cuts if imports run extremely low, the nation's power operator National Grid warned
- A blackout would be more drastic than EU plans for an energy-saving initiative this year to help its member nations survive winter season
Market Report
Stocks fall, dollar boosted by US jobs data
Stocks mostly slid and the dollar surged after US jobs data showed only a timid slowdown in the labor market,...
- There was a brief rebound at the start of the week as investors hoped data pointing to economic slowdown would allow the Fed to slow down rate hikes.
- Rising interest rates boost the dollar as foreign investors seek to buy dollar-denominated debt.
Economy
Global food prices fall for sixth month in a row, says UN
World food prices have fallen for a sixth month in a row in September, UN data showed as they continued...
- The UN agency FAO said its price index averaged 136.3 points in September, a 1.1 percent drop from August.
- The monthly decline was driven by a "sharp fall" in the prices of vegetable oils, the United Nations agency said.
Geostrategy
EU leaders try for common response to energy crisis
EU leaders meeting in Prague looked to bridge divisions on how to tackle soaring energy prices as they grapple with...
- EU leaders were discussing how to better protect their critical infrastructure in the wake of leaks from the Russia-Europe Nord Stream gas pipelines.
- Europe is facing an energy crunch as the price of electricity generation skyrockets because of a massive surge in gas prices.
Business
TSMC Q3 revenue at US$19.4bn
The firm operates the world's largest silicon wafer factories.
- The Taiwanese firm controls more than half of global foundry output, with clients including Apple and Qualcomm.
- TSMC produces some of the most advanced and smallest chips which are still highly sought after and in short supply.
Science
Egypt replants mangrove to fight climate change
Sayed Khalifa, the head of Egypt's agriculture syndicate, calls the unique plants a "treasure" because of their ability to grow...
- After decades of destruction in Egypt that saw the mangroves cleared, all that remained were fragmented patches totaling some 500 hectares
- The stands of trees help filter out water pollution and act as a natural barrier against rising seas and extreme weather, shielding coastal communities from destructive storms
Geostrategy
Morocco triples migrants’ jail terms over border storming
The 18 migrants -- among more than 60 arrested following the Melilla tragedy -- had initially been sentenced to 11...
- The migrants had been convicted of "illegal entry into Morocco", "violence against law enforcement officers", "armed gathering" and "refusal to comply"
- The Moroccan Association of Human Rights denounced the ruling in a tweet, blasting what it described as a "repressive judicial system"
Arts & Culture
Algeria boosts English tuition in blow to colonists’ French
Language is a sensitive topic in the North African country, where French is still widely spoken six decades after independence...
- The status of French has been a hotly debated issue for decades in Algeria, which has only Arabic and the Berbers' Tamazight as official languages
- French infuses public life, is used for teaching science and business, and is spoken by millions of diaspora Algerians, particularly in France
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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
China’s premier tells EU leaders ‘we can’t afford’ massive industrial subsidies
Chinese Premier Li Qiang dismissed EU fears over Beijing's allegedly excessive subsidies to its industry, telling the bloc's leaders "we...
Economy
Company News
Latest News
US troops head to region as fears grow of Gaza war’s spread
Fears of regional escalation grew after a strike on Iran's consular annex at its embassy in Damascus. Tehran blames the...
Geostrategy
IMF confirms Kristalina Georgieva for second five-year term
It means that Georgieva, who was the sole candidate in the running to lead the International Monetary Fund, will continue...
Geostrategy
Israel pounds Gaza as Iran attack threat puts region on edge
The latest bombardments in Gaza came after Israel said it had strengthened air defences and paused leave for combat units,...
Geostrategy
Most Read
Business
Middle East tensions weigh on markets as oil and gold prices shoot up
London, United Kingdom -- Wall Street stocks slid on Friday despite banks beating expectations at the start of earnings season as...
- Oil prices were up more than two percent as regional tensions soared after Iran threatened reprisals over a strike in Syria.
- Gold also benefitted from its status as a haven investment, breaking the $2,400 per ounce level.
Business
JPMorgan Chase profits up 6%
The bank's CEO warns about risk of persistent inflation.
- Profits were $13.4 billion, up six percent from the year-ago period, boosted by higher net interest income.
- The bank expects the boost from higher interest rates on profits to erode or "normalize" over time.
Business
Fujifilm ups biotech plant investment
The cost of investment in North Carolina plant is $1.2 billion.
- The cash injection to ramp up output to meet growing demand for antibody drugs brings "the total investment in the facility to over $3.2 billion", the company said
- The investment is part of its strategy of enabling the firm "to construct identical large-scale production facilities" in the United States and Europe, it said