Iran defends ‘unshakable’ right to enrich uranium ahead of key talks
Iran on Thursday reaffirmed its right to enrich uranium, saying it was "unshakable", on the eve of key talks with...
Geostrategy
India expulsions to Bangladesh unlawful, target Muslims: HRW
New Delhi, India - India has pushed hundreds of ethnic Bengali-speaking Muslims into Bangladesh without due process, Human Rights Watch...
Geostrategy
Economy
OPEC+ angers US with biggest oil output cut since pandemic
The 13-nation OPEC cartel headed by Riyadh and its 10 allies led by Moscow agreed to reduce output by two...
- The cut raises fears that it will turbocharge oil prices at a time when countries are already facing soaring energy-fuelled inflation.
- National Security Advisor Jake Sullivan and top economic advisor Brian Deese said in a statement that Biden was "disappointed by the shortsighted decision by OPEC+".
Economy
EU ‘ready to discuss’ plans to counter rising energy price
The EU is "ready to discuss" a price cap on gas within the bloc to bring down soaring energy costs,...
- Europe is facing an energy crunch as the price of electricity generation skyrockets because of a massive surge in the price of gas.
- Russia, which used to be Europe's main gas supplier, has turned off the taps after being hit by EU sanctions over the war in Ukraine.
Economy
WTO curtails global trade forecast for 2023 as Ukraine war takes toll
Presenting a revision of their annual trade forecast, WTO economists said they expected the volume of global merchandise trade to...
- "The picture for 2023 has darkened considerably. Today the global economy faces multi-prong crises," said WTO Director-General Ngozi Okonjo-Iweala.
- The WTO said surging energy prices in Europe, stemming from the war in Ukraine, were expected to squeeze household spending and raise manufacturing costs on the continent.
Economy
Lebanese lawmaker stages bank sit-in to free trapped savings for surgery
Cynthia Zarazir, who was elected to parliament in May, is the latest in a growing number of angry depositors who...
- Zarazir entered her bank branch in Beirut o demand $8,500 to pay for surgery costs not covered by her health insurance.
- Also on Wednesday, a retired member of Lebanon's Internal Security Forces entered a bank in Beirut's southern suburbs to demand access to his savings.
Science
Two Americans and a Dane win chemistry Nobel
The award marks the second Nobel for 81-year-old American Barry Sharpless, who won the chemistry Nobel in 2001.
- Carolyn Bertozzi and Barry Sharpless (both US) and Denmark's Morten Meldal were honoured "for the development of click chemistry and bioorthogonal chemistry".
- "Among many other uses, it is utilised in the development of pharmaceuticals, for mapping DNA and creating materials that are more fit for purpose," the jury said.
Business
IMF chief says BOE acted quickly to UK budget proposal
Prime Minister Liz Truss on Sunday conceded she should have better prepared Britain for her plan, which went further than...
- "We cannot have fiscal policy working against the monetary policy by providing untargeted policy support", IMF chief Kristalina Georgieva said Tuesday
- UK Finance Minister Kwasi Kwarteng on September 23 announced the debt-driven mini-budget, which slashed taxes and sparked market turmoil
Economy
In Morocco hills, cannabis farmers bet on budding industry
Morocco - the world's top producer of hashish according to the United Nations - lies on Europe's doorstep and is...
- The marginalised Rif region has long been a major source of illicit hashish smuggled to Europe while Moroccan authorities, wary of social unrest, have often turned a blind eye
- Growers now hope that a change in the law last year will help them profit legally from medicinal cannabis, increasingly used to treat conditions including multiple sclerosis
Business
Renewables grow to meet global electricity demands: study
In its new analysis, energy think tank Ember compared data from the first six months of the year -- which...
- Renewable energy sources are seen as crucial in global efforts to combat climate change
- The study found that global electricity demand grew by 389 terawatt hours (TWh) in the first half of 2022, while together wind, solar and hydro increased by 416 TWh
Business
Wall Street stocks shine amid hopes of US policy pivot
US equities posted gains for a second straight session amid hopes of a US monetary policy pivot, after a bruising...
- The tech-rich Nasdaq Composite Index led the major indices, powering up 3.3 percent to close at 11,176.41
- The Dow Jones Industrial Average rose 2.8 percent to 30,316.32, while the broad-based S&P 500 jumped 3.1 percent to 3,790.93
Economy
Energy crisis feared by Europe long a reality in Iraq
Soaring energy prices fuelled by Russia's war in Ukraine have forced a new reality upon European nations, where people are...
- The noise of privately owned generators can be heard all over the country as households and businesses try to make up for supply shortfalls from the national electricity company
- The Middle Eastern country is rich in oil, but endemic corruption and devastating conflict have taken a heavy toll on its infrastructure and forced most of its people to adapt
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Iran defends ‘unshakable’ right to enrich uranium ahead of key talks
Iran on Thursday reaffirmed its right to enrich uranium, saying it was "unshakable", on the eve of key talks with...
Geostrategy
Company News
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Israel slams Irish PM for not mentioning Gaza hostages
Israel's foreign ministry denounced Ireland's new prime minister for not mentioning the hostages held by fighters in Gaza during a...
Geostrategy
Hamas leader’s family killed in Gaza strike as truce talks drag on
The strike came as talks in Cairo aimed at a ceasefire and a hostage release deal dragged on without signs...
Geostrategy
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Geostrategy
WTO eyes global trade rebound in 2024 but warns of risks
Geneva, Switzerland -- The World Trade Organization said Wednesday that global trade should rebound this year from an unexpected slump in...
- In its annual trade forecast, the WTO disclosed that world trade volumes unexpectedly declined by 1.2 percent in 2023.
- WTO has also warned of worrying signs of growing protectionist behaviour by some countries, although it refuses to name them.
Geostrategy
Biden says Israel making ‘mistake’ in handling of Gaza war
Biden urged Netanyahu "to just call for a ceasefire, allow for the next six, eight weeks, total access to all...
- Biden rebuked Israeli Prime Minister Benjamin Netanyahu's handling of the conflict and reiterated the need for a ceasefire
- "I think what he's doing is a mistake. I don't agree with his approach," Biden told Spanish-language TV network Univision
Geostrategy
Israel strikes Gaza as US says Rafah attack ‘not imminent’
US Secretary of State Antony Blinken said he had no indication of an "imminent" Israeli assault on the city, the...
- Hamas had said earlier it "appreciates" the efforts from mediators Qatar, Egypt and the United States, but accused Israel of failing to respond to its demands
- Despite growing pressure from top ally the United States, Netanyahu stressed Israel would pursue the twin goals of bringing home "all our hostages"