Algeria’s Sonatrach and Italy’s ENI sign $1.35 billion deal
Algiers, Algeria - Algeria's state-run hydrocarbon company Sonatrach and the Italian energy company Eni on Monday signed a production sharing...
Business
Trump warns of 10% additional tariff for countries aligning with BRICS’ policies
BRICS leaders on Sunday described Trump's stop-start tariff wars as "indiscriminate", damaging, and illegal, drawing a quick rebuke from the...
Geostrategy
Geostrategy
Ukraine war could boost illegal drug production: UN
The war in Ukraine could allow illegal drug production to flourish, while the opium market's future hinges on the fate...
- The UNODC said the number of dismantled amphetamine laboratories in Ukraine rose from 17 in 2019 to 79 in 2020
- An estimated 284 million people used a drug in 2021, or one in every 18 people worldwide aged between 15 and 64, the report found
Geostrategy
Bennett at final cabinet meet: Israel will head toward polls
Once parliament dissolves, Israel's caretaker government will be headed by Foreign Minister Yair Lapid, in accordance with a power-sharing deal...
- Naftali Bennett, the current Israeli PM took charge of an ideologically-divided eight-party alliance in June 2021.
- Israel will hold its fifth general elections in less than four years after Bennett had called off the coalition last week.
Economy
Central banks should not let inflation become a norm: BIS
Rise in prices has sharply accelerated since Russia's invasion of Ukraine in February, leading central banks to tighten their key...
- BIS, known as the central bank of central banks, said they will have to act quickly to return to low and stable inflation.
- After the shock of Covid-19, central banks initially saw the return of inflation as temporary as the economy gained pace.
Geostrategy
G7 meet: World powers ban gold exports from Russia
US President Joe Biden and his counterparts from the world's most industrialized nations are gathering at Elmau Castle in the...
- They will seek to close ranks in their backing for Ukraine against Russia's invasion while grappling with the intensifying global fallout of the war.
- From soaring inflation to a looming food crisis and energy shortages, Russia's invasion of Ukraine, now in its fifth month, has mired the world in a series of crises.
Arts & Culture
Rich heritage buried under Gaza Strip
In January, workers at a construction site stumbled upon a Roman necropolis dating from about 2,000 years ago.
- After the last war between Israel and Hamas in May 2021 left a trail of damage in Gaza, Egypt began a reconstruction initiative worth $500 million.
- Authorities periodically announce discoveries in the territory, but tourism at archaeological sites is limited.
Geostrategy
Energy shock tests G7 leaders’ climate resolve
Leaders of the Group of Seven rich nations will be under pressure to stick to climate pledges in Bavaria from...
- Germany, Europe's biggest economy will burn more coal to offset a drop in Russian gas supplies amid deteriorating ties over the war in Ukraine
- Thousands of people marched in the city of Munich on the eve of the summit to urge G7 leaders to do more to fight climate change
Geostrategy
Is Saudi Arabia close to having a normalization deal with Israel?
The United States has hinted that more Arab nations could take steps to improve ties with Israel, ahead of President...
- The king's official policy is that there should be no peace with Israel until it withdraws from occupied territories and accepts Palestinian statehood
- Biden's visit will likely focus on convincing the world's biggest crude exporter to boost its oil output
Geostrategy
US President seeks support for Ukraine from G7 leaders
G7 leaders including US President Joe Biden gather on Sunday in southern Germany, seeking emphatic backing for Ukraine against Russia's...
- From soaring inflation to a looming food crisis and energy shortages, the conflict in Ukraine, now in its fifth month, has mired the world in a series of crises
- Scholz and his counterparts have been locked in months of emergency action since Russia sent in troops to Ukraine on February 24
Geostrategy
Detained Tunisia ex-PM Jebali hospitalised: lawyer
Tunisia's former prime minister Hamadi Jebali, on hunger strike after being arrested earlier this week on money-laundering allegations, was rushed...
- Police had not delivered the drugs in question to Jebali's cell despite prosecutors allowing the family to take them to the police station, he added
- Ennahdha has dismissed the allegations against Jebali and said the arrest was part of a campaign of settling political scores.
Geostrategy
Talks on stalled Iran nuke deal to begin in few days
France, one of the six world powers that agreed the 2015 deal, had on Friday appealed to Iran to "seize...
- EU's foreign policy chief Josep Borrell had a two-hour meeting with Iran's Foreign Minister Hossein Amir-Abdollahian
- The Iran nuclear deal has been hanging by a thread since 2018, when then US president Donald Trump unilaterally withdrew from the accord
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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
Algeria’s Sonatrach and Italy’s ENI sign $1.35 billion deal
Algiers, Algeria - Algeria's state-run hydrocarbon company Sonatrach and the Italian energy company Eni on Monday signed a production sharing...
Business
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230,000 children, new mothers risk dying of hunger in Sudan: NGO
The bombing and destruction of fields and factories have plunged Sudan into "one of the worst" nutrition situations in the...
Israel claims to have hit 4,500 Hizbollah targets in five months
Jerusalem--The Israeli army said Tuesday it hit about 4,500 Hizbollah targets in Lebanon and Syria over the past five months,...
Geostrategy
Trump, Biden clinch enough delegates for US presidential nomination
The results in four statewide elections Tuesday, the latest in the months-long march to determine the Democratic and Republican party...
Most Read
Al Hilal finish off Al Ittihad to ease into Asian Champions League semis
Ittihad's miserable night was summed up in the final minute of normal time, when striker Abderrazak Hamdallah was given a...
- The four-time continental champions, runners-up last year, triumphed in the quarter-final second leg at King Abdullah Sports City Stadium
- Hilal will meet Al Ain of the UAE in the last four next month following the 2003 champions' penalty shootout win against Cristiano Ronaldo's Al Nassr on Monday
Business
Lego net profit falls
Its net profit fell five percent to 13.1 billion kroner ($1.24bn).
- The Danish toy giant's overall sales inched up by two percent to 65.9 billion kroner ($9.6 billion).
- Sales made directly to consumers through Lego's physical and online stores rose by four percent.
Geostrategy
US troops depart for mission to build temporary Gaza aid port
The first -- a hulking gray-painted watercraft known as a Logistics Support Vessel -- slowly churned away from the pier...
- The US has said the effort will not involve "boots on the ground" in Gaza, but American troops will come close to the beleaguered coastal territory as they construct the pier.
- A series of airdrops carried out by the US to deliver aid this month is far too insufficient to feed the far higher number of people in need of assistance in Gaza.