Turkey parliament passes contentious mining legislation
Turkey's parliament on Saturday passed a controversial bill that opens certain agricultural lands including olive groves to mining activities, local...
Economy
Business
Sweden to provide guarantees worth ‘billions’ to energy firms
Faced with a winter without the energy supplies from Russia, Sweden has turned to Nordic and Baltic energy companies promising...
- Andersson while talking to reporters said the guarantees were aimed at giving energy groups "the breathing room that is needed"
- The guarantees were expected to be in place on Monday before the stock market closing and would cover all Nordic and Baltic actors within the next two weeks
Geostrategy
UN envoy Staffan de Mistura meets with Polisario Front in Algeria
The Algerian-backed Polisario Front wants an independent state in the Western Sahara, a vast stretch of mineral-rich desert which Morocco...
- According to the state news agency, Italian-Swedish diplomat also met a group of Sahrawi youth and women
- Under a 1991 ceasefire, the UN, which considers the Western Sahara "a non-self-governing territory", deployed a peacekeeping mission
Economy
Lebanese turn to money transfer firms as trust ebbs in banks
Once the flagship of Lebanon's economy, the banking sector is now widely despised and avoided after banks barred depositors from...
- Lebanon has been battered by its worst-ever economic crisis since the financial sector went into meltdown in 2019
- Some companies are now even paying salaries through money transfer companies instead of banks
Geostrategy
‘Well prepared to tackle Russia’s gas embargo’
EU Economy Commissioner Paolo Gentiloni said Saturday that the European Union was "well prepared" in the event of a total...
- "We are well prepared to resist Russia's extreme use of the gas weapon," EU Economy Commissioner Paolo Gentiloni said.
- Russian gas giant Gazprom said Friday that the Nord Stream pipeline would be "completely" stopped until turbine is repaired.
Science
NASA delays rocket launch to moon due to fuel leakage
After the latest delay, there are backup opportunities on Monday or Tuesday. After that, the next launch window will not...
- Though the area around the launch site was closed to the public, an estimated 400,000 people had gathered nearby to see the launch.
- Early Saturday, launch director Charlie Blackwell-Thompson had given the go-ahead to start filling the rocket's tanks with cryogenic fuel.
Geostrategy
‘Turkey can mediate Ukraine nuclear plant standoff’
Turkey can mediate in a standoff over Ukraine's Zaporizhzhia nuclear power station, occupied by Moscow's troops, President Recep Tayyip Erdogan...
- Erdogan had warned of the danger of a nuclear disaster when he visited Lviv last month for talks with his Ukrainian counterpart Volodymyr Zelensky.
- There has been growing alarm over the safety of Europe's largest nuclear plant, Zaporizhzhia
Economy
US to persist with imposition of tariffs on Chinese goods
Paying heed to hundreds of requests from American companies, the US government confirms it will continue to enforce the tariffs...
- President Biden's team was divided, with US Trade Representative Katherine Tai pushing to keep the punitive duties in place
- Trump imposed tariffs on about $350 billion in annual imports from China in retaliation for Beijing's theft of American intellectual property and forced transfer of technology
Business
Google allows Parler app back into Play Store
Google pulled the Parler app from its online marketplace just days after the deadly attack on the seat of US...
- Parler was allowed back in the Play Store after removing abusive posts and blocking users who break the app's rules
- The app claimed to have more than 20 million users before being pulled from the Apple and Google online marketplaces.
Geostrategy
US approves $1.1 billion in arms for Taiwan, angering China
The sale comes a month after House Speaker Nancy Pelosi defiantly visited the self-governing democracy, prompting mainland China to launch...
- The deal also includes $85.6 million for more than 100 Sidewinder missiles, a mainstay of Western militaries for their air-to-air firepower
- Taiwanese Presidential Office spokesman Chang Tun-han in a statement thanked the United States for its continued support for the island's security and defense
Geostrategy
West, Russia trade pressure on energy as Ukraine goes on attack
The Group of Seven major industrial democracies vowed to move urgently to set a price cap on Russian oil imports,...
- Russian gas giant Gazprom said it had halted gas deliveries to Germany for an indefinite period as there were leaks in a turbine
- Gazprom earlier said it expected a resumption on Saturday of gas shipments through Nord Stream, a pipeline that links St Petersburg to Germany
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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
Turkey parliament passes contentious mining legislation
Turkey's parliament on Saturday passed a controversial bill that opens certain agricultural lands including olive groves to mining activities, local...
Economy
Company News
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Turkish Airlines restarts Libya flights after almost a decade
Istanbul, Turkey - Turkey's flagship carrier, Turkish Airlines, has resumed flights to Libya's capital, almost 10 years after they were suspended...
Business
US census to include Middle Eastern or North African category
The next US census and federal government forms will include new options for race and ethnicity including a category for...
Geostrategy
US Federal Reserve’s preferred inflation gauge ticks up as fuel costs rise
WASHINGTON, US – The US central bank's favored measure of inflation edged higher last month on the back of rising fuel...
Economy
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Geostrategy
UAE extradites alleged drug baron from Dubai to Belgium
Brussels, Belgium -- One of Belgium's most-wanted suspected drug smugglers was extradited from Dubai on Friday, the Belgian justice ministry said....
- Nordin El Hajjioui, a Belgian of Moroccan origin, is believed to be one of the main drug barons in Antwerp and is wanted in at least three cocaine-trafficking cases.
- Emirati officials first arrested the 36-year-old in 2020 in Dubai after a request from Belgium but then released him. He was taken back into custody last year.
Business
Huawei profit tops $12bn
The profits more than doubled compared to 2022.
- Huawei has been at the center of an intense standoff between China and the United States, with Washington warning its equipment could be used for espionage.
- Sanctions since 2019 have cut Huawei's access to US-made components and technologies, forcing it to diversify.
Geostrategy
Israeli strikes kill dozens in Syria and Lebanon, rile Russia and Iran
In Syria, "Israeli strikes" targeted a Hizbollah "rockets depot" in Aleppo province, killing 36 Syrian soldiers, seven Hezbollah members and...
- Moscow said they were "categorically unacceptable" while Iran said they were a "violation of Syria's sovereignty" and "a serious threat to peace and security".
- In Lebanon, Hizbollah has exchanged near-daily fire with the Israeli army across the country's southern border since October, saying it is in support of Gazans and Hamas.