Trump threatens to sue WSJ over story on alleged 2003 letter to Epstein
Washington, United States - US President Donald Trump threatened to sue The Wall Street Journal Thursday over a story about...
Geostrategy
Baghdad and Arbil agree to resume Kurdish oil exports: government
Baghdad, Iraq -- The Iraqi government announced Thursday an agreement to resume crude exports from the autonomous Kurdistan region after...
Geostrategy
Geostrategy
Argentina seizes 1.6 tons of cocaine headed for Dubai
Argentine authorities seized 1.6 tons of cocaine hidden in animal feed destined for Dubai and detained 12 people, police said...
- The seizure took place overnight from Thursday to Friday in the central city of Rosario in Argentina
- The cocaine "is worth approximately $60 million," said the head of the dangerous drugs department in the federal police.
Economy
Stocks slump after Fed chair vows tough inflation fight
Stock slumped on Friday after Federal Reserve boss Jerome Powell pledged to act "forcefully" against soaring inflation in a battle...
- Modest signs of slowing in the world's largest economy, easing price pressures spurred hope in financial markets the central bank might ease up on its interest rate hikes.
- Powell made it clear that Fed policy and the benchmark borrowing rate would have to remain "sufficiently restrictive" to return inflation to its two percent target.
Arts & Culture
Christie’s to auction Paul Allen’s $1bn art collection
The November sale of more than 150 pieces spanning 500 years of art will be "the largest and most exceptional...
- Christie's said all proceeds will go to charitable causes, as per the wishes of Allen, who was an avid art collector, innovator and philanthropist.
- The auction record for a private collection was set this spring by the US couple Harry and Linda Macklowe, with $922 million fetched in auctions conducted by Sotheby's.
Business
German govt to relook huge gas levy amid outrage
German ministers vowed to reexamine a planned gas surcharge imposed on consumers after it emerged that some energy companies seeking...
- The levy, to be imposed from October 1, had been grudgingly accepted as a compromise to help prevent the energy market from collapsing.
- The levy sparked outrage after it emerged that some energy firms which have doubled their revenues in H1 2022, have registered to receive a share.
Geostrategy
Turkey plays down US sanctions threat over Russia ties
Turkey's finance minister told businesses on Friday they should not be concerned by the threat of sanctions that Washington warns...
- The value of Ankara's trade with Moscow shot up by nearly 50 percent between May and July this year as NATO member Turkey has refused to join the international sanctions.
- US Deputy Secretary of the Treasury had warned Turkish banks and companies they would face secondary sanctions if they cooperated with sanctioned Russians.
Economy
Japan seeks ‘sustainable world’ in Africa aid forum
The eighth Tokyo International Conference on African Development (TICAD8) comes against the backdrop of China's rising influence, cemented on the...
- It is the first TICAD held every three years either in Japan or an African country since the pandemic began
- Alongside the summit, businesspeople will attend an economic conference while various parallel events and workshops will address civil society and women's inclusion
Science
UN high-seas biodiversity treaty struggles to leave port
After 15 years, including four prior formal sessions, negotiators have yet to reach a legally binding agreement to address the...
- The High Ambition Coalition, a group of some 50 countries led by the European Union, had even called for a comprehensive BBNJ deal to be finalized by the end of the year
- One of the key pillars of an eventual BBNJ treaty is to allow the creation of marine protected areas, which many nations hope will cover 30 percent of the Earth's ocean by 2030
Geostrategy
Iran urges IAEA to end undeclared nuclear sites issue
The United States remains adamant that Tehran cooperate with the International Atomic Energy Agency to clear up suspicions about earlier...
- Iran came back last week with a series of proposed changes, to which the United States formally responded on Wednesday, a day after Tehran accused its arch-enemy of stonewalling
- The 2015 agreement between Iran and six world powers Britain, China, France, Germany, Russia and the United States gave the Islamic republic sanctions relief in exchange for curbs
Economy
In risky recyling venture, Gazans burn plastic for fuel
It's an economic and practical solution in a territory blockaded by Israel for 15 years, but one which poses serious...
- Burning plastic releases dioxins, mercury and other toxic gases which pose a threat to vegetation, human and animal health
- Since 2007, when Hamas seized control of the Gaza Strip, Israel has severely restricted the flow of people and goods in and out of the coastal enclave
Geostrategy
Syria says two wounded in Israeli air strikes
The Syrian Observatory for Human Rights said the strikes were targeting Iranian-aligned militia, causing "several casualties." Israeli strikes, the Britain-based...
- Since civil war broke out in Syria in 2011, Israel has carried out hundreds of air strikes against its neighbor
- The Israeli military has defended them as necessary to prevent Iran from gaining a foothold on its doorstep
Most Read
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
Trump threatens to sue WSJ over story on alleged 2003 letter to Epstein
Washington, United States - US President Donald Trump threatened to sue The Wall Street Journal Thursday over a story about...
Geostrategy
Company News
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Israeli troops shoot dead three Palestinians in West Bank
Residents told AFP that Israeli forces entered Jenin and its adjacent refugee camp just after midnight (2200 GMT on Tuesday)...
Geostrategy
UN expert faces threats after Israel Gaza ‘genocide’ remarks
Francesca Albanese, the UN special rapporteur on the rights situation in the Palestinian territories, said this week there were reasonable...
Geostrategy
Quran burner Salwan Momika says leaving Sweden for Norway
Stockholm, Sweden - An Iraqi refugee in Sweden who stoked international outrage by repeatedly desecrating the Quran last year said Wednesday...
Geostrategy
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Business
Yen plunges to 34-year low, mixed results for equity markets
Hong Kong, China - The yen plunged Wednesday to a 34-year low against the dollar after a top Bank of Japan...
- The fall raised speculation that authorities would step into markets to support the currency after officials warned in recent days against speculation
- The weaker yen helped spur a rally in the Nikkei as exporters benefited, making the index the region's best performer
Business
Hyundai to invest $50bn in South Korea
The automaker will make a bigger push to produce EVs.
- With the $50.5bn investment announced, Hyundai said it wants to "secure future growth engines in an uncertain business environment through constant change and innovation"
- Under the plan, Hyundai will create 80,000 jobs in South Korea and build three new EV factories, with the aim of increasing annual EV production to 1.51 million units by 2030
Business
California looks to Europe to rein in deployment of AI
The richest state in the United States by GDP, California is a hotbed of no-holds-barred tech innovation, but lawmakers in...
- Lawmakers in California are looking to recent European legislation on AI, especially given the little hope of equivalent national legislation out of Washington
- There are at least 30 different bills proposed by California state legislators that relate to various aspects of AI, according to senior policy advisor