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
First foreign firm takes ownership of Saudi football club
The Harburg Group -- led by American Ben Harburg -- said it had "officially completed the 100 percent acquisition of...
Business
Business
Samsung expects 31.7 percent decline in Q3 profit
The South Korean tech giant, Samsung Electronic, has said that it expects operating profits in the third quarter to fall...
- Operating profit for July to September was predicted to reach 10.8 trillion won ($7.7 billion), down 31.7 percent
- The global economy is now facing multiple challenges, including soaring inflation, rising interest rates, and a growing threat of a broad debt crisis
Business
Judge halts Twitter-Musk case, sets Oct. 28 deadline to close deal
Delaware Judge Kathaleen McCormick, ruling on a Musk request to freeze the case that had drawn a biting retort from...
- The move buys time for a potential reconciliation between two parties
- Twitter said Tuesday it expects to close the buyout deal at the $54.20 price
Economy
Bringing down inflation will take time, more rate hikes: Fed officials
As US annual inflation has soared to the fastest in 40 years, the Fed has moved aggressively this year to...
- The situation was exacerbated with Russia's invasion of Ukraine in February spurring a surge in energy prices and affecting global food markets
- While the Fed cannot act directly on supply, it can moderate demand by tightening monetary policy, Fed official said
Algerian, Spanish gas firms agree to ‘revise’ prices
The Algerian firm said in a statement that Sonatrach and its partner Naturgy have agreed to revise the prices of...
- Algeria, Africa's top natural gas exporter, has signed a flurry of deals with southern European governments and energy firms seeking to offset the Ukraine war fallout
- Spanish gas regulator Enagas says Algeria was the country's second gas supplier (24 percent) in August, behind the United States (26.5 percent)
Economy
Fed official says US to see more interest rate hikes
With US inflation soaring new heights, the country's central bank has said more increases are likely to come this year...
- Prices have surged over the past year, partly due to global supply chain problems that created shortages of key parts
- The situation was exacerbated with Russia's invasion of Ukraine in February, spurring a surge in energy prices and affecting global food markets
Geostrategy
Libyan Prime Minister defends oil, gas exploration deal with Turkey
The question of rights to Libya's vast hydrocarbon resources has become more urgent this year as global energy prices have...
- "The Turkish-Libyan MoU is based on previous deals even prior to 2011," Libyan prime minister Abdulhamid Dbeibah said.
- The memorandum of understanding, three years after a controversial maritime border deal, sparked sharp reaction from Greece.
Economy
IMF chief urges action as global recession risks rise
IMF chief Kristalina Georgieva urged global policymakers to take concerted action as the risks of a worldwide recession are driven...
- The IMF chief said that if central banks move too aggressively to tamp down price pressures, it could trigger a prolonged economic downturn.
- Finance ministers and central bank governors from over 180 nations will gather in Washington for a meeting of the IMF and WB.
Arts & Culture
Qatar wants mascot of headdress to symbolize WC
A flying keffiyah headdress named La'eeb, meaning super skilful player in Arabic, is the official World Cup mascot and is...
- La'eeb has been adopted by some internet blockchain communities in China which have issued tokens bearing the mascot's likeness.
- The keffiyeh headdress, also known as a shemagh or a ghutra, is designed to protect against the sun, sand and dust.
Business
Air travel rebounds but still suffering from pandemic
Air travel rose sharply in the northern hemisphere summer, traditionally the peak vacation travel season, but still remains considerably affected...
- Total air traffic in August soared up by two thirds from the same time last year, but was still only at 73.7 percent of its pre-Covid level.
- Asia experienced the biggest rebound, where traffic more than tripled.
Geostrategy
Kremlin says OPEC+ cut output to stabilize oil markets
Moscow---The Kremlin said Thursday that an OPEC+ decision to sharply cut production was designed to stabilize global oil markets, after...
- Kremlin spokesman Dmitry Peskov it was proof that "some countries understand the absurdity" of Washington's demand for a price cap on Russian oil.
- The European Union has also proposed introducing a price cap on Russian oil as part of new sanctions over Ukraine.
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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
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Defence minister says Israel ‘shoulder to shoulder’ with US on Iran
"Our enemies think that they can pull apart Israel and the United States, but the opposite is true -- they...
Geostrategy
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...
Business
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Geostrategy
Israel on alert after Iranian threat as Gaza war grinds on
Iran's supreme leader, Ayatollah Ali Khamenei, warned Wednesday that Israel "must be punished and will be punished", days after one...
- Days after Israel strengthened its air defences and paused leave for combat units, the United States also warned of the risk of an attack by Iran
- Iran is "threatening to launch a significant attack on Israel", US President Joe Biden said Wednesday, pledging "ironclad" support for its top regional ally
Business
Most equity markets fall as US inflation data dims rate cut hopes
The losses tracked a sell-off on Wall Street and saw the dollar strike a 34-year high against the yen, fueling...
- The disappointing data sent all three main indexes on Wall Street deep into the red. Asia followed suit in the morning but some bounced into positive territory as the day wore on.
- Hong Kong, Tokyo, Sydney, Singapore, Wellington, Taipei, Bangkok and Manila slipped, while Shanghai and Seoul edged up.
Business
Uniqlo upgrades net profit forecast
It now expects to make $2.1bn in the year to August.
- It also sees full-year operating profit of 450 billion yen on sales of 3.03 trillion yen, both of which would also be record figures if realized.
- Its low-cost GU clothing brand has been another key driver of the retail group's expansion, Fast Retailing added.