Egypt grand museum delay puts tourism hopes on hold
Cairo, Egypt - In the shadow of the Grand Egyptian Museum, souvenir shop owner Mona has been readying for the...
Arts & Culture
Low-cost carrier Wizz Air to stop Abu Dhabi operations
Budapest, Hungary -- Hungarian low-cost airline Wizz Air said Monday that it would end its Abu Dhabi operations, which have...
Business
Geostrategy
EU representative to discuss stalled nuclear deal with Iran in Vienna
Negotiations between Iran and world powers, which began in late November 2021 to reintegrate Joe Biden's United States into the...
- In late June, Qatar hosted indirect talks between Tehran and Washington in the hope of getting the process back on track -- but those talks did not lead to a breakthrough.
- In a last-ditch effort, EU foreign policy chief Josep Borrell submitted a compromise proposal last Tuesday and called on the parties to accept it to avoid a 'dangerous crisis'.
Business
OPEC+ meeting in focus as it decides on oil production strategy
After cutting production in 2020 in response to falling prices during the Covid pandemic, OPEC+ began to modestly raise it...
- The cartel led by Saudi Arabia and Russia has so far resisted US pressure to ramp up production significantly.
- Biden visited Saudi Arabia in July to convince the Kingdom about producing more oil and stabilizing market.
Geostrategy
UN experts disheartened: Beirut blast victims still await justice
The Aug 4, 2020 mega-blast killed more than 200 people and destroyed thousands of homes in the Lebanese capital. The...
- The lead investigator, Tarek Bitar, who was chasing after some of the country's top brass, has been barred from proceeding by a series of lawsuits.
- The victims' families therefore appealed to the international community to set up an independent investigation under the Human Rights Council in Geneva.
Geostrategy
Iran lawmakers ratify prisoner swap treaty with Belgium
Iranian lawmakers voted Wednesday to ratify a prisoner exchange treaty with Belgium, where the deal has been criticized for potentially...
- Icana news agency reported that Iran's parliament approved the treaty by 195 votes to two
- The Belgian parliament just two weeks ago passed it by the much narrower margin of 79 votes to 41
Business
Airbnb revenue tops $2 billion
The company logged a net income of $379 million.
- The home rental platform logged a net income of $379 million in what it touted as the most profitable second quarter in its history
- As a sign of confidence in its future, the San Francisco-based company announced it will devote $2 billion to buying back shares
Economy
Respite for Erdogan: Turkish inflation stabilizes at under 80 percent
The official annual rate of consumer price increases reached 79.6 percent in July compared to 78.6 percent in June. Turkey...
- Turkey now has a real interest rate of negative 64.4 percent the lowest in the world by a substantial margin.
- This means that Turks have a strong incentive to spend as much as they can before their liras lose even more value.
Business
BMW profits slide as China lockdowns hit production
BMW said economic conditions would "remain difficult" in the second half of the year, with the war in Ukraine also...
- The carmaker shipped just over 563,000 units in the second quarter of 2022, a drop of 19.8 percent
- BMW said economic conditions would "remain difficult" in the second half of the year, with the war in Ukraine also disrupting supply
Economy
US Fed official sees hope for US and EU to keep recession at bay
A US central bank official still sees hope for the US and EU to avoid recession and achieve a soft...
- James Bullard said at New York Univeristy that a soft landing is feasible in the US and the EA (euro area)
- US inflation hit 9.1 percent in June, the highest in four decades
Geostrategy
Justice eludes Beirut couple two years after blast killed daughter
The demonstrations were drained of momentum by a severe economic crisis and the coronavirus pandemic, before the monster explosion presented...
- International powers have yet to provide Lebanon with satellite images or reports drafted by foreign experts who participated in preliminary investigations
- The August 4 mega-blast, blamed on a fire that ignited tons of ammonium nitrate fertilizer at Beirut harbor, was one of the largest non-nuclear detonations ever recorded
Geostrategy
Yemen’s warring parties renew truce for two months: UN
Yemen has been gripped by conflict since the Iran-backed Houthi rebels took control of the capital Sanaa in 2014, triggering...
- Hundreds of thousands have died, directly from fighting as well as indirectly, and millions have been displaced in what the UN has called the world's worst humanitarian crisis
- US President Joe Biden welcomed the extension and the "unprecedented calm" that has prevailed in the war-torn country during recent months
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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
Egypt grand museum delay puts tourism hopes on hold
Cairo, Egypt - In the shadow of the Grand Egyptian Museum, souvenir shop owner Mona has been readying for the...
Arts & Culture
Company News
China looks to woo back global elites at Davos forum
World Economic Forum
Latest News
Asian markets struggle as US data dents Fed rate cut optimism
Equities across the world had surged Thursday in response to the central bank's closely watched dot plot projection that it...
Business
UK, Australia call for ‘immediate cessation of fighting’ in Gaza
Adelaide, Australia--Britain and Australia declared the need for an "immediate cessation of fighting" in Gaza, as diplomatic pressure built on Israel...
Geostrategy
Blinken heads to Israel to press for ‘immediate’ truce in Gaza war
After talks in Saudi Arabia and Egypt, Blinken flies to Israel on Friday, his sixth trip to the region since...
Most Read
Geostrategy
Israel spy chief to return to Qatar for Gaza truce talks
The Israeli prime minister's office said that Benjamin Netanyahu approved an Israeli delegation led by Mossad head David Barnea to...
- Barnea is to meet CIA director, Qatari prime minister and Egypt's intelligence chief
- Israel believes about 130 remain in Gaza, including 33 who are presumed dead
Economy
Eurozone business activity stabilizes in March
Brussels, Belgium - Business activity in the eurozone stabilized in March thanks largely to a "modest recovery" in the service sector,...
- "Business activity in the euro area came close to stabilizing in March" with "only a marginal decline in output of goods and services", the survey said.
- The ECB has kept its interest rates steady since October, following an unprecedented series of increases to tame what was red-hot inflation.
Geostrategy
Poorer countries need money before raising climate targets, says COP29 head
Copenhagen, Denmark - Developing countries should not have to set stricter targets for cutting their carbon emissions before funds are available...
- Addressing the meeting, Azerbaijan's Mukhtar Babayev said "there is a growing gap between the needs of developing countries and what's available.
- This year, "finance will lie at the heart of climate diplomacy", said Babayev, the ecology and natural resources minister of Azerbaijan, host of COP29 climate summit.