Most Asian markets rise ahead of toss-up US election
Asian markets mostly rose Tuesday a day before results from the US presidential election rolled in, with opinion polls showing...
Economy
Oil prices tumble after Israeli attacks spare Iran facilities
Tokyo, Japan - Oil prices tumbled in early Asian trading Monday with dealers relieved that Israeli strikes carried out Saturday against...
Economy
Business
Telefonica Q3 profit at $450m
Q3 revenue was up 11.6 percent at US$10.11 billion.
- The company said the results make it possible to confirm its financial targets for 2022, which it raised during the previous quarter.
- Telefonica said that it expects its core earnings growth to be "mid-to-high-end of the low single digit".
Iraq landslide disaster throws spotlight on informal shrines
Hundreds of smaller shrines opened up in Iraq -- many outside the purview of the religious authorities, which are often...
- Iraq's Waqf, the body in charge of managing Shiite mosques, tombs and other places of worship, reports that only 135 out of Iraq's 664 known sanctuaries are formally registered
- Most such sites are dedicated to relatives or descendants of Imam Ali, the son-in-law of the Prophet Mohammed and the founder of the Shiite strand of Islam
Solar power, farming revive Tunisia school as social enterprise
Hamadi started a decade ago by gathering donations to buy 50 solar water heaters and 140 photovoltaic panels.
- Hamadi started a decade ago by gathering donations to buy 50 solar water heaters and 140 photovoltaic panels
- Chayeb, a farmer, said the Makthar model had helped his family and given his children better school meals and business skills
Economy
German industries explore investment opportunities in UAE
Some of Germany’s leading industrial companies participated in a roundtable event hosted by the UAE Ministry of Industry and Advanced...
- From the UAE side, representatives from ADNOC, Abu Dhabi Department of Economic Development, Abu Dhabi Investment Office, and TAZIZ were present.
- The delegates also discussed the future of supply chain opportunities in a post-pandemic world.
Business
Saudi Arabia’s first electric vehicle brand Ceer launched by Crown Prince
Ceer will design, manufacture and sell a range of vehicles in Saudi Arabia and the MENA region, including sedans and...
- Ceer is projected to directly contribute US$8 billion to Saudi Arabia’s GDP by 2034, the PIF said. Ceer vehicles are scheduled to be available in 2025.
- Each vehicle will be designed and manufactured in Saudi Arabia, and tested to the highest global automotive quality control and safety standards.
Geostrategy
Europe could face gas shortage next year, says IEA
Europe must act immediately to prevent a shortage of natural gas next year as Russia slashes deliveries in the wake...
- IEA Executive Director Fatih Birol said he would hold talks on Friday with several European governments.
- He said that Europe needs to take immediate action to avoid risks of natural gas shortage next year.
Geostrategy
UAE, Indonesia to cooperate in energy sector
UAE and Indonesia have signed a Declaration of Intent to boost economic and social development between the two countries and...
- The declaration was signed between the UAE Ministry of Energy and Infrastructure and the Indonesian Ministry of Energy and Mineral Resources.
- It was signed during a joint meeting between the two countries at the Abu Dhabi International Petroleum Exhibition Conference ‘ADIPEC 2022.
Business
ING Q3 profit at US$958m
Bank announced a share buyback of US$1.4 billion.
- The bank said its Polish unit took a US$334 million hit from new regulations allowing borrowers to suspend mortgage loan payments.
- ING said that it benefited from higher interest rates, which central banks have been hiking aggressively in efforts to tame inflation.
Business
BMW Q3 net profit US$3.1bn
Profit was due to high demand for pricier luxury models.
- Car deliveries were down nearly one percent over the period as the industry continues to grapple with supply chain disruptions.
- BMW said higher prices for its premium vehicles had helped deliver a solid third quarter.
Business
Smugglers devise novel ways in Middle East to traffic captagon
Fastening weapons or drugs to livestock to cross borders is an age-old smuggling trick. Latin American cartels took this a...
- The creativity of smugglers continues to astound the authorities, with seizures more often the result of tip-offs than the technological prowess of customs checks
- More than 5.3 million pills were found by the Saudi authorities in a large shipment of pomegranates in April 2021, with the drugs stuffed inside some of the fruit
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Most Asian markets rise ahead of toss-up US election
Asian markets mostly rose Tuesday a day before results from the US presidential election rolled in, with opinion polls showing...
Economy
Company News
Latest News
Federal Reserve likely to pause interest rate hikes
The Federal Reserve will likely announce it is holding interest rates at a 22-year high on Wednesday, as it looks...
Economy
Buildings should absorb more carbon than they release
"Buildings should produce more clean energy than they consume. This transformation demands a reevaluation of our relationship with nature. Rather...
Economy
Capital flows to emerging markets facing short-term headwinds: QNB
Doha, Qatar--Qatar National Bank (QNB) said that the global macro trends are starting to present short-term challenges to emerging markets...
Economy
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Geostrategy
Middle East conflict may disrupt global trade routes
Recent developments spark concerns that the conflict, which is spreading across the region, presents a long-term threat to global energy...
- Recent developments spark concerns that the conflict, which is spreading across the region, presents a long-term threat to global energy and commercial infrastructure.
- IMF's Kristalina Georgieva and World Bank's Ajay Banga stress economic vulnerabilities and development impacts amid volatile oil prices potentially surpassing $100 per barrel.
Geostrategy
Iran, Russia to invest $38bn in developing INSTC
TEHRAN, IRAN – The Iranian head of Solyanka Port in Russia said that the International North-South Transport Corridor (INSTC) is a...
- The Iranian head of Solyanka Port spoke of the measures taken by the Islamic Republic of Iran Shipping Line (IRISL ) to develop the INSTC route.
- The IRISL group purchased 30 rail wagons, 5,400 containers and ordered the construction of 21 equipped vessels for strengthening maritime routes.
Economy
Air passengers with disabilities need special assistance
"However, the actual needs of the traveler might differ. They might simply need help navigating crowded airports, have difficulty with...
- Linda Ristagno, IATA’s Assistant Director for External Affairs, emphasizes the need for tailored special assistance
- 80% satisfaction rate among passengers using special assistance, according to IATA's 2023 Global Passenger Survey