The $10 mn bag: Original Birkin smashes records at Paris auction
Paris, France -- The first-ever Birkin bag designed by French luxury brand Hermes for celebrity Jane Birkin sold for 8.58...
Arts & Culture
Israel’s Bedouin communities use solar energy to stake claim to land
Tirabin al-Sana in Israel's Negev desert is the home of the Tirabin (also spelled Tarabin) Bedouin tribe, who signed a...
Economy
Economy
Sri Lanka president takes refuge in Maldives, expected to resign
Sri Lanka's embattled president flew out of his country to the Maldives early Wednesday, in a probable prelude to his...
- Gotabaya Rajapaksa had promised at the weekend to resign on Wednesday and clear the way for a "peaceful transition of power" after fleeing his official residence in Colombo
- Rajapaksa is accused of mismanaging the economy to a point where the country has run out of foreign exchange to finance even the most essential imports
Economy
Euro slides to be at par with dollar as recession fears rise
The euro struck parity with the dollar for the first time in nearly 20 years on Tuesday as a cut...
- The European single currency hit exactly one dollar -- its lowest level since December 2002 -- before bouncing back somewhat
- But Wall Street stocks weakened as the session progressed, as investors nervously await Wednesday's consumer price report
Geostrategy
US President to broaden ties in visit to Saudi Arabia, Israel
US President Joe Biden lands in the Middle East on Wednesday for a trip that will see Israeli leaders urge...
- Air Force One will also make an unprecedented direct flight between the Jewish state and the Gulf kingdom that does not recognize its existence
- Biden's trip to Saudi Arabia is seen as part of efforts to stabilize oil markets rattled by the Ukraine war, by re-engaging with a country that has been a key strategic ally of US
Economy
Russia and Ukraine seek to break grain impasse in Turkey
The four-way meeting in Istanbul comes with Russia's invasion of Ukraine showing no sign of abating.
- The four-way meeting in Istanbul comes with Russia's invasion of Ukraine showing no sign of abating
- Ukraine is a vital exporter of wheat and grains such as barley and maize and supplies nearly half of all the sunflower oil traded on global markets
Brent oil closes under $100/barrel for first time since April
Brent oil futures closed Tuesday under $100 a barrel for the first time in three months as recession worries cloud...
- The US benchmark, West Texas Intermediate, fell 7.9 percent to finish at $95.84 a barrel
- The drop in the currency market is "raising concerns that Europe is going into recession
Business
Tokyo equities climb up ahead of key US inflation report
Tokyo stocks opened higher on Wednesday ahead of a key US inflation report and with worries growing over rising Covid-19...
- Wall Street stocks ended lower overnight as markets brace for a potentially grim US inflation report
- Investors fear that another report showing hot inflation will lead the Federal Reserve to double down on large interest rate hikes
Business
Twitter lawsuit accuses Elon Musk of contract breach
Twitter on Tuesday sued Elon Musk for breaching the $44 billion contract he signed to buy the tech firm, calling...
- The social media company's shares edged up slightly in after-market trading when the news broke
- Legal experts and market analysts see Twitter as having a strong upper hand heading into court
Geostrategy
Israel increases work permits for blockaded Gaza ahead of Biden visit
Israel on Tuesday increased the number of work permits for Palestinians in Gaza, part of a series of measures affecting...
- Some 2.3 million Palestinians live in the impoverished Gaza Strip, which has been under an Israeli blockade since Hamas took power in 2007.
- Israel additionally said it would add 5,500 undocumented residents to the Palestinian Population Registry.
Economy
France to proceed with second phase of digital euro experiment : Central Bank
France's central bank said Tuesday it will push ahead with the second phase of its experiment with a digital euro...
- Last year, the Banque de France successfully completed the first stage of its experiment with a central bank digital currency.
- The experiment is aimed at rolling out the cryptocurrency next year.
Economy
Euro strikes parity with Dollar for first time in nearly 20 years
The euro struck parity with the dollar Tuesday for the first time in nearly 20 years as a cut in...
- Oil prices meanwhile fell heavily on concerns of a wider recession as central banks hike interest rates to fight decades-high inflation.
- European stock markets fell approaching the half-way mark and in the wake of overnight losses in Asia and on Wall Street.
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The $10 mn bag: Original Birkin smashes records at Paris auction
Paris, France -- The first-ever Birkin bag designed by French luxury brand Hermes for celebrity Jane Birkin sold for 8.58...
Arts & Culture
Company News
Samsung expects profit dip
Business
Latest News
Second aid ship prepares to leave for Gaza from Cyprus
According to Cyprus foreign ministry spokesperson, the ship will depart for Gaza today even as US charity World Central Kitchen...
Geostrategy
Syria landmine blast kills 19 truffle hunters, says war monitor
BEIRUT, LEBANON – At least 19 people searching for truffles in the north Syria desert were killed on Saturday after their...
Geostrategy
Houthi, Hamas mull ‘encircling’ Israel in Lebanon meet
Yemen's Iran-backed Houthi rebels discussed "expanding confrontations and encircling" Israel in a meeting in Lebanon with Hamas and other Palestinian...
Geostrategy
Most Read
Geostrategy
Fatah rejects Hamas criticism of new prime minister’s appointment
Ramallah, Palestinian Territories - Palestinian president Mahmud Abbas's Fatah party hit back at criticism by Hamas and other factions over his...
- Palestinian president Mahmud Abbas appointed Mohammed Mustafa as prime minister and tasked him with forming a new government.
- Mustafa replaces Mohammed Shtayyeh, who resigned less than three weeks ago citing the need for change after the Hamas attack of October 7.
Geostrategy
Massive fire destroys prestigious Arab film studio in Egypt
CAIRO, EGYPT – A major fire here destroyed one of the Arab world's most prestigious and oldest film production houses, founded...
- Flames overtook the Al-Ahram Studio in Giza district, burning everything inside and spreading to three surrounding buildings.
- Residents of the neighboring buildings were still sleeping on the ground in nearby streets at dawn on Saturday
Geostrategy
US charity says aid unloaded, ready for delivery in Gaza
A US charity said its team in the war-ravaged Gaza Strip had finished unloading the first maritime aid shipment to...
- The group is preparing a second boat of 240 tons of food to set sail from Cyprus, the starting point of a new maritime aid route across the eastern Mediterranean.
- The humanitarian effort is intended to mitigate food shortages that have prompted famine warnings in Gaza from the UN and aid workers.