Middle East conflict: Trade tensions rise as oil jumps and tariffs shake markets
Several ports suspended operations in the Middle East after drone strikes. DP World said operations at Jebel Ali port in...
Economy
Meta, YouTube face trial over children harm
Opening statements in the first trial began in Los Angeles County Superior Court, where Instagram parent company Meta and Google’s...
Geostrategy
Geostrategy
Osaka Expo 2025 opens: World gathers amidst hope and global tensions
From quirky Hello Kitty algae sculptures to demonstrations of flying vehicles and lunar samples, the Osaka Expo offers a fascinating...
- Encircling dozens of national pavilions is the Grand Ring -- recognized by Guinness World Records as the planet's largest wooden architectural structure.
- So far 8.7 million advance tickets have been shifted, below the pre-sales target of 14 million.
Business
Why investors rush to gold in uncertain economic times?
London, United Kingdom -- Why do investors flock to gold when economic times turn tough? As the precious metal reaches...
- On Friday it struck an all-time high of $3227.51 an ounce in trading, handing the commodity a gain of more than 20 percent since the start of the year.
- In 2024, global central banks together added more than 1,000 tons of gold to their reserves for the third year running, according to the World Gold Council.
Economy
Trump admits trade war ‘cost’ as markets hit
Jitters about US tariffs hammered Asian stocks again early Friday as President Donald Trump acknowledged a "cost" to his surging...
- Trump acknowledged "a transition cost and transition problems," but dismissed global market turmoil. "In the end it's going to be a beautiful thing."
- On Wall Street, the broad-based S&P 500 finished down 3.5 percent on Thursday after soaring 9.5 percent the day before. The Dow Jones shed 2.5 percent and the Nasdaq 4.3 percent
Geostrategy
European Union and UAE agree to launch trade deal negotiations
Emirati President Mohammed bin Zayed Al Nahyan "and I just decided to launch negotiations on an EU-UAE free trade agreement,"...
- Sheikh Zayed said that the CEPA would create new avenues for cooperation between the UAE and EU, increase trade and investment flows.
- The EU is the UAE’s second-largest trading partner, accounting for 8.3 percent of the UAE’s total non-oil trade, which hit $67.6 billion in 2024.
Economy
Iraq signs deal with US firm to produce 24,000 MW of electricity
Prime Minister Mohammed Shia al-Sudani oversaw "the signing of a Memorandum of Understanding as part of a strategic cooperation framework...
- The signing comes at the conclusion of a visit to Iraq by a high-level US delegation comprising of representatives from 60 private firms.
- Despite sitting on large reserves of petrol and natural gas, decades of conflict and instability have ravaged Iraq's energy infrastructure.
Economy
World Bank approves $1.1 bn in financing for Jordan
The World Bank announced Tuesday it will provide Jordan with $1.1 billion in new financing to support economic reforms and...
- The funding, part of an economic modernization effort, aims to "build socio-economic resilience in the face of continued shocks and crises."
- The investments cover four projects designed to support inclusive growth and job creation, help start-ups and small businesses
Economy
Trump’s new tariffs take effect, with 104% on Chinese goods
US President Donald Trump's punishing tariffs on dozens of economies came in force Wednesday, including over 100 percent in levies...
- China is the hardest hit, with tariffs imposed on its products since Trump returned to the White House now reaching a staggering 104%
- Trump said Tuesday his government was working on "tailored deals" with trading partners, prioritizing allies like Japan and South Korea
Economy
China vows ‘fight to the end’ as Trump warns 50% more tariffs
China vowed on Tuesday to "fight to the end" against fresh tariffs of 50 percent threatened by US President Donald...
- Trump upended the world economy last week with sweeping tariffs that have raised the spectre of an international recession
- Beijing, Washington's major economic rival, responded by announcing its own 34 percent duties on US goods to come into effect on Thursday
Economy
Trump’s tariffs shake up MENA economies, hitting allies, adversaries, oil trade and emerging industries: Report
Trump's sweeping tariffs are reshaping trade dynamics across MENA, impacting oil-exporting Gulf nations like Saudi Arabia, UAE and Qatar, according...
- Gulf oil producers face indirect hits as tariff fears lower global oil demand and prices
- Small businesses across MENA confront rising costs, disrupted supply chains, and uncertainty
Business
Stocks sink again as Trump holds firm on tariffs
Trading floors across the globe were overcome by waves of further selling after last week's sharp losses, with Trump telling...
- Wall Street was wracked by volatile trading, bouncing into positive territory on hopes of a 90-day pause in tariffs, only to sink lower when those were dashed by the White House.
- Trillions of dollars have been wiped off combined stock market valuations in recent sessions. Bitcoin tumbled, while the dollar rebounded after sharp losses last week.
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Middle East conflict: Trade tensions rise as oil jumps and tariffs shake markets
Several ports suspended operations in the Middle East after drone strikes. DP World said operations at Jebel Ali port in...
Economy
Company News
Latest News
Iran declares major lender bankrupt
Iran declared one of the country's largest private banks bankrupt with its assets absorbed by the state, official media reported...
Economy
Gartner lists 2026’s defining tech: Faster AI, safer clouds, and smarter security
AI supercomputing platforms integrate CPUs, GPUs, AI ASICs, neuromorphic and alternative computing paradigms, enabling organizations to orchestrate complex workloads while...
Science
China vows massive high-tech sector development in next decade
Beijing, China -- China will develop its high-tech sector on a massive scale in the next decade, top officials vowed...
Economy
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Geostrategy
Oil prices surge as Trump hits Russian crude with sanctions
The international benchmark contract, Brent North Sea crude, jumped 4.8 percent while West Texas Intermediate was up 5.1 percent. Trump on Wednesday announced...
- The move was joined by another round of punishments by the European Union as part of attempts to pressure Moscow to end its three-and-a-half-year invasion of Ukraine.
- According to industry analysts the two companies account for just over half of Russia's oil output, and both also produce natural gas.
Science
Celebrities, AI giants urge end to quest for superintelligence capable of outsmarting humans
Signatories include the "Godfather of AI" and 2024 winner of the Nobel Prize in Physics Geoffrey Hinton; Computer Sciences Professor...
- Most major AI developers are striving for artificial general intelligence (AGI), a stage where AI would match all human intellectual capabilities, and even superintelligence
- Speaking at an event organised by the media group Axel Springer in September, OpenAI CEO Sam Altman said that superintelligence could be achieved within the next five years
Geostrategy
Norway’s wealth fund to enlist AI for managing climate risks
Oslo, Norway -- Norway's sovereign wealth fund said Wednesday that it would incorporate artificial intelligence tools into its investment analysis...
- The fund's head of active ownership, Wilhelm Mohn, said AI along with its own analysis tools would allow it to "streamline processes and enhance decision-making".
- The fund urges the more than 8,600 companies it invests in worldwide to commit to net-zero carbon emissions by 2050.