US tariffs to kick in Aug 1 barring trade deals: Treasury Secretary
Washington, United States -- US tariffs will kick in on August 1 if trading partners from Taiwan to the European...
Economy
AI robots pluck weeds in California fields, make up for shortage of laborers
Los Banos, United States -- Oblivious to the punishing midday heat, a wheeled robot powered by the sun and infused...
Business
Business
Gazprom to cut Italian energy giant Eni’s gas supply by 15 percent
Russia's Gazprom told Eni it would cut its gas supply by around 15 percent for Wednesday, the Italian energy giant...
- Italy buys the majority of its natural gas from overseas -- and more than 40 percent of its imports come from Russia.
- Since Russia invaded Ukraine, triggering unprecedented Western sanctions against Moscow, Italy has been scrabbling to cut that reliance.
Economy
China’s recovery to take oil demand to pre-Covid levels by 2023: IEA
Demand is set to grow to 101.6 million barrels per day in 2023, according to the IEA, which advises developed...
- Soaring oil prices and weaker economic growth is likely to temper the growth of demand in the second half of this year.
- The IEA expects global oil demand to grow to 99.4 million barrels per day in 2022 -- higher than its previous estimates.
Economy
1970s-style inflation, shrinking economy: Rebalance your investments
The painful combination of chronic 1970s-style inflation and a shrinking economy means that you might need to rebalance your investments,...
- Inflation in Latin America's largest economies is the highest it's been in 15 years, while the overall rate in Sub-Saharan Africa is expected to grow to 12.2 percent this year.
- What remains unknown is how long this difficult period of high inflation will go on for and what will be its lasting ‘legacy, said deVereGroup CEO Nigel Green.
Economy
WTO talks extended in bid to seal fishing subsidy, food security deals
The World Trade Organization's ministerial conference will run over into a fifth day on Thursday in the hope of striking...
- The global trade body only takes decisions by consensus and its 164 members all need to agree if anything is to get passed.
- India all but sank the WTO's bid to net a long-sought deal on curbing harmful fishing subsidies late Tuesday, insisting it would not sign up without a 25-year exemption.
Business
Google AI splits opinion on its risks and ambitions
An internal fight over whether Google built technology with human-like consciousness has spilled into the open, exposing the ambitions and...
- The Silicon Valley giant suspended one of its engineers last week who argued the firm's AI system LaMDA seemed "sentient"
- AI remains a delicate topic in and outside the tech world, one that can prompt amazement but also a bit of discomfort
Geostrategy
Aid groups appeal UN to renew Syria cross-border aid resolution
Dozens of aid groups Tuesday urged the United Nations Security Council to renew a resolution allowing aid deliveries to millions...
- Russia, an ally of the government in Damascus, has threatened to use its Security Council veto power to block the resolution's renewal
- Russia has argued aid can instead transit via Damascus-controlled parts of the country across conflict lines
Business
High car sales adds to Iraq’s road misery
Five years ago, Iraqi taxi driver Osama Mohammed would make about six trips a day across Baghdad. Today, traffic is so...
- Experts point at many reasons for the growing chaos: a post-war mini boom has brought more people and more cars
- The research group Future of Iraq estimates that the fuel each vehicle wastes daily by idling in Baghdad traffic jams is equivalent to driving 20 kilometers
Economy
80 percent children in Ghaza suffer ‘distress’ due to years long blockade: report
Four out of five children in Gaza suffer from emotional distress, Save the Children said Wednesday, 15 years after Israel...
- In a report called "Trapped", Britain-based Save the Children said the mental health of Gazan children has continued to deteriorate
- Since 2018, the number reporting symptoms of "depression, grief, and fear," had risen from 55 percent to 80 percent, the report said
Geostrategy
Iran believes negotiations can still revive nuclear deal
Iran on Tuesday said it still believes that negotiations can succeed to revive the 2015 nuclear deal with world powers,...
- Earlier, Iran disconnected 27 cameras from its nuclear sites in response to the IAEA resolution censuring Iran
- Iran's demand of Washington to remove Revolutionary Guards from the terrorism list is an extraneous issue to JCPOA, according to US
Geostrategy
Biden gambles there’s more to gain by courting Saudis
Making an about-face by deciding to visit Saudi Arabia, US president Joe Biden is betting there is more to gain...
- The visit comes as China increasingly looks to Gulf Arab nations, which have mostly rebuffed US efforts to isolate Russia over its invasion of Ukraine
- Crown Prince had a far chummier relationship with former president Donald Trump, whose son-in-law Jared Kushner was said to chat with the prince over WhatsApp
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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
US tariffs to kick in Aug 1 barring trade deals: Treasury Secretary
Washington, United States -- US tariffs will kick in on August 1 if trading partners from Taiwan to the European...
Economy
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Hizbollah fires dozens of rockets at Israel after deadly strikes
Hizbollah said it had fired dozens of rockets into northern Israel after Israeli strikes the day before left five dead...
Geostrategy
Netanyahu approach to Gaza war ‘hurting’ Israel, says Biden
With Gaza's humanitarian crisis growing more dire and Biden's left flank in uproar, the US president made contradictory remarks as...
Geostrategy
Israel slams Canada, Sweden for resumption of UNRWA funding
Canada and Sweden announced over the weekend they were resuming funding for the cash-strapped UN agency, weeks after having suspended...
Geostrategy
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Geostrategy
CIA, Mossad chiefs meet to ‘advance’ hostage release deal
Israeli military spokesman Daniel Hagari said Israel was preparing for "all possible operational scenarios" during Ramadan, and that it plans...
- Benjamin Netanyahu's office said Mossad chief met Friday with the head of the CIA
- Israel did not send a delegation to the latest round of truce talks in Cairo
Geostrategy
Israelis demand Netanyahu ouster and hostage release
With t-shirts and banners featuring the names and pictures of hostages seized during Hamas's October 7 attack, the crowd demanded...
- Some protesters called for an immediate ceasefire, a position the government has rejected
- A protestor said Netanyahu's government "cannot stay in power" after the October 7 attack
Business
Lufthansa cabin crews to go on strike
The announcement came after the airline's record profits.
- The strike will cover flights out of Frankfurt on Tuesday and from Munich on Wednesday, with Lufthansa's subsidiary CityLine also affected
- The latest walkout began last Thursday, with Lufthansa ground staff staging a nationwide two-day strike after a previous walkout in February