Nvidia tops $4 trillion as US stocks shrug off latest tariffs
After Congress gave Trump a big win last week with his fiscal package, the Republican's aggressive trade posture has returned...
Business
Almost half of Europe and Mediterranean basin hit by drought
Paris, France - Europe and the Mediterranean basin has been hit by a long-lasting drought covering over 45 percent of...
Economy
Economy
China and US discuss global economic challenges, supply chains
Top officials from the United States and China held a "candid" video call on Tuesday to discuss global economic challenges,...
- The world's two biggest economies are also grappling with Covid-snarled supply chains and rising global energy prices
- The Xinhua report said the video call took place at the request of the United States, and described the conversation as "constructive"
Business
Mecca businesses see hajj boom ending pandemic slump
Two years of drastic restrictions on the number of pilgrims emptied shops and hotels across the Saudi Arabian city of...
- Two years of drastic restrictions on the number of pilgrims emptied shops and hotels across the Saudi Arabian city of Mecca
- Haj and Umrah generate about $12 billion (11.5 billion euros) annually, keeping the economy humming in Mecca
Geostrategy
UN envoy cancels Western Sahara trip
The United Nations envoy for Western Sahara, Staffan de Mistura, was on a visit to Morocco on Monday but has...
- The Polisario Front that seeks independence for the desert territory said it deeply deplores that the occupying state of Morocco has once again resorted to obstructionism
- Morocco sees the region as part of its sovereign territory, but the Polisario and its main patron Algeria want a referendum on full independence
Geostrategy
Algeria marks 60 years of independence from France
The North African country won its independence following a gruelling eight-year war, which ended with the signing in March 1962...
- The North African country won its independence following a gruelling eight-year war, which ended with the signing in March 1962 of the Evian Accords
- On July 5 of the same year, days after 99.72 percent voted for independence in a referendum, Algeria finally broke free from colonial rule
Business
European stocks surge Monday after nosediving last week
Europe's stocks recovered somewhat Monday as investors tentatively regained some optimism following the heavy losses in the financial markets last...
- London stocks won 1.1 percent at midday, while Frankfurt and Paris gained 0.5 percent and 1.0 percent respectively.
- Markets have suffered sharp losses in recent weeks on fears that global rate hikes -- aimed at fighting soaring inflation.
Geostrategy
Iran orders complete shutdown as sandstorm hits Tehran
In April, Tehran's Air Quality Control Society said dust clouds originated from "countries to the west of Iran".
- While the region has always been battered by sandstorms, dust clouds have become more frequent and intense in recent years.
- The trend is linked to climate change and associated with overgrazing and deforestation, as well as the overuse of river water.
Economy
IMF authorities in Tunisia to discuss bailout package
An IMF team said in March that the country faced "major structural challenges", with low growth and investment, along with...
- Tunisian central bank's press office told AFP that the two-week visit would involve officials from the bank and the finance ministry.
- The North African country, the birthplace of the 2011 Arab Spring uprisings, has been suffering under a grinding economic crisis.
Geostrategy
Israeli fire likely killed Abu Akleh but it may not be intentional: US
Palestinians reject the findings. A senior Palestinian Authority official said "we will not allow attempts to conceal the truth or...
- Ballistic experts determined the bullet was badly damaged, which prevented a clear conclusion, said State Department spokesman Ned Price.
- A New York Times investigation found that the bullet was fired from near the location of an Israeli military convoy, likely by a soldier from an elite unit.
Geostrategy
Libya protests planned over power cuts, political deadlock
Libyans angered by rising prices, chronic power cuts and political deadlock planned further demonstrations Monday after a night of angry...
- Masked youths set alight car tires and blocked roads including a major coastal highway between central Tripoli and its western suburbs, but security forces did not intervene.
- Public anger has been fueled by power cuts that often last 18 hours amid soaring summer temperatures, despite Libya sitting on Africa's largest oil reserves.
Business
Iran, Russia, Turkey considering joint car design and production
Iran and Turkey share a land border, while Russia shares a maritime border with Iran and Turkey across the Black...
- The proposed cooperation on automobile constriction between the three nations could progress rapidly.
- Numerous car makers have stopped sales of their cars or parts to Russia since it sent military to Ukraine.
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
Nvidia tops $4 trillion as US stocks shrug off latest tariffs
After Congress gave Trump a big win last week with his fiscal package, the Republican's aggressive trade posture has returned...
Business
Company News
Latest News
Former US treasury secretary says preparing buyout of TikTok
Washington, US - Former US Treasury Secretary Steven Mnuchin on Thursday said he is putting together a team of investors to...
Geostrategy
US sanctions five Israeli entities including three settlers in West Bank
Washington, US - The United States sanctioned three Israeli settlers and two farming outposts on Thursday, accusing them of being involved...
Geostrategy
Leader of US Senate calls for election in Israel
The leader of the US Senate called for Israel to hold new elections in the most strident criticism yet by...
Geostrategy
Most Read
Science
SpaceX mega rocket lost in final phase of third test flight
The sleek mega rocket is vital to NASA's plans for landing astronauts on the Moon later this decade -- and...
- Starship's third launch test in its fully stacked configuration was its most ambitious yet and the company said it was able to meet many of its objectives.
- These included opening and closing Starship's payload door to test its ability to deliver satellites and other cargo into space.
Business
AstraZeneca to buy Amolyt for $1bn
It will pay $800 million upfront for the Lyon-based company.
- The London-listed group added that the transaction would bolster its rare diseases division Alexion.
- AstraZeneca's share price was up 0.1 percent in early morning London trading following the news.
Geostrategy
Brighter US economic outlook fuels global oil demand growth forecast
Rising fuel needs of ships rerouted away from the Red Sea also to increase demand, the International Energy Agency said....
- The IEA said world oil demand growth is now forecast to increase by 1.3 million barrels per day (bpd) this year, 110,000 bpd higher than in its previous monthly market report.
- Global demand is also driven by the "comparatively buoyant economy" of the US where oil consumption is gaining momentum on rising petrochemical operations, it said.