Trump gives Russia 50 days to make Ukraine deal or face new economic sanctions
US President Donald Trump told Russia on Monday to end its Ukraine war within 50 days or face massive new...
Geostrategy
Trump says US will send Ukraine Patriot air defense systems, and may sanction Russia
President Donald Trump on Sunday said Washington would send Patriot air defense systems to Kyiv and hinted at new sanctions...
Geostrategy
Geostrategy
China warns US will ‘pay the price’ if Pelosi visits Taiwan
China said Tuesday that the United States will "pay the price" if House Speaker Nancy Pelosi visits Taiwan during her...
- China considers Taiwan its territory and has indicated through repeated warnings that it would view a Pelosi visit as a major provocation
- American officials often make discreet visits to Taiwan to show support, but Pelosi would be a higher-profile visitor than any in recent history
Geostrategy
Iraq tensions soar as protesters rally against parliament occupation
Thousands of Iraqis took to the streets of Baghdad Monday in counter-protests as rival supporters of Shiite Muslim cleric Moqtada...
- Sadr's supporters on Saturday breached the normally high-security Green Zone also home to government buildings and embassies
- In multi-confessional and multi-ethnic Iraq, government formation has involved complex negotiations since a 2003 US-led invasion toppled dictator Saddam Hussein
Economy
A year on, Iran’s Raisi faces economy in trouble
Having pledged to help especially the poor, the ultraconservative cleric now faces runaway consumer prices that have sparked protests.
- Having pledged to help especially the poor, the ultraconservative cleric now faces runaway consumer prices that have sparked protests
- Raisi was elected in June last year in a ballot for which less than half of voters turned up, after his major rivals had been disqualified by electoral bodies
Geostrategy
Iran sees way out of nuclear talks deadlock after fresh EU proposal
Iran said Monday it remains "optimistic" about a possible revival of the 2015 nuclear deal after the European Union tabled...
- Josep Borrell submitted a new draft text and urged the different sides to accept it or "risk a dangerous nuclear crisis"
- Qatar hosted indirect talks between US and Iran in a bid to get the Vienna process back on track but the discussion broke up after two days without any breakthrough
Geostrategy
US kills Al-Qaeda chief in Kabul drone strike
President Joe Biden announced Monday that the United States had killed Al-Qaeda chief Ayman al-Zawahiri, one of the world's most...
- A senior administration official said Zawahiri was on the balcony of a house in Kabul when he was targeted with two Hellfire missiles
- It was the first known over-the-horizon strike by the United States on an Al-Qaeda target in Afghanistan since American forces withdrew from the country on August 31, 2021
Business
Boeing shares surge
The company is all set to resume 787 jet production.
- The 787's travails date to late summer 2020, when the company uncovered manufacturing flaws with some jets. Boeing subsequently identified additional issues.
- The difficulties curtailed deliveries between November 2020 and March 2021. Boeing suspended deliveries later in spring 2021 after more problems surfaced.
Geostrategy
Counter protests in Iraq as pro Sadr protestors occupy Parliament
On Monday afternoon, large numbers of security forces set up roadblocks in a bid to contain the counter-protests.
- A political standoff, almost 10 months after Iraqis went to the polls, pits two key factions among country's majority Shiite population.
- Sadr's supporters on Saturday breached the normally high-security Green Zone -- also home to government buildings and embassies.
Geostrategy
World is a miscalculation away from nuclear annihilation, says UN head
UN head Antonio Guterres warned Monday that the world faced "a nuclear danger not seen since the height of the...
- The UN secretary-general said that humanity is just one misunderstanding, one miscalculation away from nuclear annihilation
- The UN head's comments came at the opening 10th review conference of the NPT, an international treaty that came into force in 1970 to prevent the spread of nuclear weapons
Economy
Egyptian pound plunges to near all-time low as inflation surge
In late March, inflation-hit Egypt also devalued its currency, which lost around 18 percent of its value overnight.
- Egypt's currency has not fallen so sharply since December 2016 when it hit 19.3 to the US greenback after a drastic devaluation.
- With its food security under mounting pressure, Egypt in June said it would receive $500 million in financing from the World Bank.
Business
HSBC H1 pre-tax profit falls
Pre-tax earnings sank 15 percent to $9.2 billion.
- Executives are expected to field questions about a restructuring bid from its biggest shareholder Ping An Insurance Group.
- The bank rebuffed calls to spin off its Asian activities on the eve of a shareholder meet
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 gives Russia 50 days to make Ukraine deal or face new economic sanctions
US President Donald Trump told Russia on Monday to end its Ukraine war within 50 days or face massive new...
Geostrategy
Company News
IMF chief at Davos: AI holds risks, opportunity for global economy
World Economic Forum
Latest News
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...
Geostrategy
Will sign US$13.7bn deal with Airbus, says Korean Air
SEOUL, SOUTH KOREA – South Korean flag carrier Korean Air said on Thursday it will sign a US$13.7 billion deal with...
Business
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Economy
IMF chief urges countries to strengthen independence of central banks
"Financial stability benefits the whole economy and reduces the risk that the central bank becomes reluctant to raise interest rates...
- "Central bank independence matters for price stability -- and price stability matters for consistent long-term growth," IMF managing director Kristalina Georgieva wrote.
- She added that better control of inflation is possible when both central banks and governments play their roles
UN General Assembly to address AI’s potential risks, rewards
The resolution focuses more on the technology's positive potential, and calls for special care "to bridge the artificial intelligence and...
- The text, co-sponsored by dozens of countries, emphasizes the necessity of guidelines "to promote safe, secure and trustworthy artificial intelligence systems"
- The draft resolution seeks "to promote, not hinder, digital transformation and equitable access" to AI in order to achieve the UN's Sustainable Development Goals
Meta, Microsoft slam Apple over app store policy
The four companies filed a rare joint amicus brief in a California court in charge of applying a ruling that...
- The Apple Plan comports with neither the letter nor the spirit of the Court's mandate," Meta, Microsoft, X and Match said in their joint filing on Wednesday, in support of Epic
- The plan's "new restrictions are plainly designed to render alternatives to Apple's in-app purchases impractical for developers, and inaccessible to consumers," the companies said