Gaza civil defence says Israeli strikes kill 43 as truce talks deadlocked
Israel's military blamed it on a "technical error" when targeting a militant in the Nuseirat refugee camp in central Gaza,...
Geostrategy
Macron calls on EU to ‘defend European interests’ in US tariff talks
French President Emmanuel Macron on Saturday condemned US President Donald Trump's threat to impose 30-percent tariffs on the European Union,...
Economy
Business
Israel’s Teva reaches potential $4.25 bn US opioid settlement
If the deal is finalized, Teva would become the latest major company to reach a settlement over the crisis which...
- If the deal is finalized, Teva would become the latest major company to reach a settlement over the crisis which caused hundreds of thousands of deaths across the country
- Teva reached the potential agreement on the terms of a "nationwide opioids settlement" with a working group of state attorneys general and lawyers for Native American tribes
Economy
Eye-popping: Saudi prince unveils mirrored skyscraper eco-city
A futuristic Saudi megacity is to feature two skyscrapers extending across a swathe of desert and mountain terrain, according to...
- NEOM, a biotech and digital hub spread over 26,500 square kilometres (10,000 square miles), was once touted as a regional "Silicon Valley"
- The "first phase" of the project, lasting until 2030, will cost 1.2 trillion Saudi riyals (roughly $319 billion), Prince Mohammed said
Geostrategy
Tunisia approves new constitution in vote with low turnout
Tunisia has approved a new constitution granting unchecked powers to the office of President Kais Saied, the electoral board said,...
- Rights groups have warned the draft gives vast, unchecked powers to the presidency and allows Saied to appoint a government without parliamentary approval
- The US State Department said on Tuesday it noted "concerns that the new constitution includes weakened checks and balances that could compromise the protection of human rights
Business
Microsoft earnings fall
The poor performance result of sagging demand.
- The US technology giant reported profit of $16.7 billion on revenue of $51.9 billion, topping the same quarter a year earlier but missing market forecasts.
- The earnings stumble was due mostly to foreign exchange rates and shutdowns of personal computer factories in China
Geostrategy
Morocco, Israel sign legal deal as cooperation expands
Morocco and Israel added legal links to a growing list of cooperation accords since they normalized relations in 2020, during...
- Israeli Justice Minister Gideon Saar signed a judicial accord in Rabat with his Moroccan counterpart Abdellatif Ouahbi.
- A joint statement said the two countries would share expertise and modernize their judicial systems through digitalization.
Business
Rolls-Royce picks new CEO
Tufan Erginbilgic replaces Warren East from the start of 2023.
- East is stepping down after a tumultuous eight years in the top role during which time he turned around performance and slashed thousands of jobs.
- Erginbilgic left the British energy major in 2020 and is a partner at private equity firm Global Infrastructure Partners.
Business
EasyJet cuts losses
The airline had taken a sizeable financial hit from disruptions.
- As airport staff shortages spark flight cancellations, EasyJet said it booked a one-off charge totaling £133 m.
- The airline posted pre-tax loss of £114 million in the group's third quarter, or the three months to end of June.
Geostrategy
EU agrees to reduce gas consumption by 15 percent
The usage is reduced to counter the dependency on Russian gas supplies.
- Russian gas giant Gazprom will slash supplies to Europe from Wednesday, threatening economies like Germany.
- 27 European Union members have imposed economic sanctions on Russia to punish it for its invasion of Ukraine.
Economy
Lebanon approves $150m World Bank loan for wheat import
Lebanon's parliament approved on Tuesday a $150 million World Bank loan to import wheat, as shortages of subsidized bread intensify...
- Long lines have formed in front of bakeries and supermarkets where people wait hours for a bag of subsidized Arabic bread.
- Lebanon imports 80 percent of its wheat from war-torn Ukraine, according to a representative of Lebanon's wheat importers.
Economy
IMF cuts global growth outlook amid US, China slowdowns
In its latest World Economic Outlook, the International Monetary Fund cut the 2022 global GDP estimate to 3.2 percent, four-tenths...
- The top priority for policymakers is to rein in soaring prices, even at the cost of inflicting pain on their citizens, the fund said.
- China's economy is expected to slow dramatically in 2022, expanding just 3.3 percent -- the lowest in more than four decades.
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Gaza civil defence says Israeli strikes kill 43 as truce talks deadlocked
Israel's military blamed it on a "technical error" when targeting a militant in the Nuseirat refugee camp in central Gaza,...
Geostrategy
Company News
Latest News
Israel’s Gallant to visit US as Rafah pressure builds
During his first visit to Washington since war erupted in response to Hamas's unprecedented October 7 attack, Gallant is due...
Geostrategy
No oil and gas majors aligned with climate targets: report
An A grade would be potentially aligned with the goals of the 2015 Paris Agreement to limit temperature rise to...
Google hit by US$272m fine in France
It breached an agreement on terms for paying media firms.
Business
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Geostrategy
Govt source: Canada halting arms shipments to Israel
On Monday, the Canadian Parliament passed a nonbinding resolution calling for the international community to work toward a two-state solution...
- The move comes as Ottawa has only exported "non-lethal" shipments such as communications equipment to Israel since the deadly October 7 attacks
- Israel has historically been a top receiver of Canadian arms exports, with CAN$21 million worth of military materiel exported to Israel in 2022
Geostrategy
Hamas leader blames Israel for sabotaging truce talks
Ismail Haniyeh said that the Israeli actions at Al-Shifa Medical Complex "confirm their intent to obstruct the recovery of life...
- Negotiations for a Gaza ceasefire and hostage release were underway in Doha
- Mossad head David Barnea had flown in for talks with the Qatari prime minister on Monday
Geostrategy
EU members to discuss Bosnia entry into Union
Brussels, Belgium - A group of EU countries including Germany on Tuesday pushed for a green light to start membership negotiations...
- The EU's 27 leaders will debate at a summit on Thursday a proposal from the bloc's executive to launch the talks with the Balkan country
- Balkan country Bosnia has been an official candidate for membership since 2022 but needed to implement a string of major reforms