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...
Geostrategy
ICJ says Israel obliged to allow aid into Gaza as Turkey, Qatar move to protect truce
The ICJ ruling came as aid groups scrambled to scale up much-needed humanitarian assistance into Gaza, seizing upon a fragile...
Geostrategy
Economy
GCC, Central Asian states pledge to boost strategic ties
The two sides endorsed a comprehensive joint statement that called for the boosting of political and strategic ties and strengthening...
- Both sides stressed the need for regional and international security and promotion of renewable energy sources
- Pledges were made to invest in sectors like green economy, digital economy, innovation and green technology
Geostrategy
Fund shortage forces UN body to slash aid for Syrian refugees
AMMAN, JORDAN - The United Nations' World Food Program has announced it would reduce cash assistance to nearly 120,000 Syrian refugees...
- The WFP said that "further reductions in food assistance for refugees in Jordan have become unavoidable as funds run precariously low".
- As of next month, the Syrian refugees in the two camps will receive "a reduced cash allowance of $21 per month per person" down from the current $32.
Geostrategy
Israel air strikes in Syria kill 3 pro-regime fighters: monitor
The Britain-based Syrian Observatory for Human Rights said the strikes also targeted positions of the Syrian army's elite Fourth Division...
- Syrian state news agency SANA earlier reported two soldiers had been wounded in the overnight strikes
- The war monitor said the targets included warehouses used by Lebanon's Iran-backed Hezbollah militant group
Economy
Turkish President Erdogan concludes economy-driven Gulf tour in UAE
The Comprehensive Economic Partnership Agreement (CEPA), signed in March, has further enhanced bilateral economic collaboration. The CEPA sets the stage...
- The UAE and Turkey have signed numerous strategic agreements and MoUs to boost bilateral cooperation across various sectors
- In 2022, non-oil trade between the UAE and Turkey reached nearly US$19 billion, reflecting a substantial increase from previous years
Geostrategy
One dead, hundreds of migrants rescued off Morocco: media
The Spanish islands have long been a draw for migrants seeking a better life in Europe, with many boats setting...
- Morocco in northwest Africa is a transit country for many migrants trying to get to Europe via Spain's mainland or its Canary Islands in the Atlantic
- Morocco's news agency citing a military source, said the kingdom's navy rescued 845 migrants, mostly from sub-Saharan Africa, between July 10 and Monday
Geostrategy
Erdogan’s visit: Qatar and Turkey seek to deepen strategic partnership
Qatar’s emir Sheikh Tamim bin Hamad Al-Thani praised Turkey's efforts to improve the country's financial situation and reduce inflation rates...
- Erdogan and Sheikh Tamim also discussed important regional and international developments and witnessed the signing of a joint statement
- Erdogan recognized Qatar's inherent economic potential and its balanced growth rates, saying it was one of the most robust economies in the region
Leaks, repairs, stress: how skeleton crew stopped Red Sea oil disaster
The sinking of the vessel, or an on-board explosion, would have unleashed a thin slick of oil across the Red...
- "Any oil ship needs regular maintenance... to keep the ship safe," said Ebrahim al-Moshki, head of Hodeida's maritime affairs authority
- The UN has said half a million people work in the area's fishing industry, and that 200,000 livelihoods "would be instantly wiped out"
Geostrategy
Chinese president vows solid ties with Algeria, eyes energy supply
China's President Xi Jinping has pledged stronger ties with Algeria, highlighting the importance of their comprehensive strategic partnership. Algeria, Africa's...
- President Xi Jinping emphasized the readiness of China to work with Algeria in strengthening strategic communications and deepening exchanges and cooperation
- Algerian President Tebboune is on a five-day official visit to China, his inaugural trip to China since being elected as the premier of Algeria
Business
Saudi Arabia’s exports to Turkey hit $13.93 billion in three years
Riyadh, Saudi Arabia -- Saudi Arabia’s exports to Turkey during the past three years amounted to SAR 52.280 billion ($13.93 billion),...
- Saudi exports largely comprised plastics, metal products, organic chemical products, steel, precious metals and stones.
- A total of 1,140 companies Saudi companies have invested in several sectors in Turkey, with investments surpassing $18 billion.
Business
Dubai issues law to regulate urban planning for sustainable development
Dubai, UAE -- Dubai Ruler Sheikh Mohammed bin Rashid Al Maktoum has issued a law (No. 16 of 2023) to...
- The law seeks to create an integrated and effective urban planning system that promotes investment, sustainable development, prosperity, and an improved quality of life.
- To oversee the implementation of this law, a 'Supreme Committee for Urban Planning' will be formed, comprising representatives from authorities responsible for urban planning.
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...
Geostrategy
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Israel troops push into central Rafah
Geostrategy
Iran says it has responded to Trump’s nuclear talks letter
Iran has sent a response to a letter from US President Donald Trump that called for nuclear talks and warned...
Geostrategy
Lawyer complains Turkish student held in US ‘abducted’
A lawyer representing a Turkish university student detained in the United States and facing deportation said Thursday that his client...
Geostrategy
Palestinian sources say Hamas, mediators in new talks to revive Gaza truce, hostage release deal
Negotiations between Hamas and Israel, mediated by Egypt along with Qatar and the United States, have been deadlocked for weeks...
Geostrategy
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Geostrategy
From cars to champagne: Trump’s expanding tariffs trigger trade war fears
Paris, France -- From champagne to steel and now cars: it is getting harder to keep up with US President...
- In early March, Trump imposed a 20 percent tariff on products from China, which has a huge trade surplus with the United States and was already his top target during his first term
- Trump announced earlier he would slap 25-percent tariffs on imports from countries buying oil and gas from Venezuela, a punitive measure that could hit China and India.
Geostrategy
Israel PM threatens to seize parts of Gaza over fate of hostages
Prime Minister Benjamin Netanyahu threatened Wednesday to seize parts of Gaza if Hamas did not release hostages, while the militant...
- Israel's resumption of intense bombardment and ground operations across Gaza shattered weeks of relative calm brought by a fragile ceasefire
- According to the health ministry in Hamas-run Gaza, 830 people have been killed in the territory since Israel restarted its strikes on March 18
Geostrategy
Macron hosts European leaders to discuss Ukraine’s security amid ceasefire talks with Russia
The meeting is seeking to set out what security guarantees Europe can offer Ukraine once a ceasefire deal is agreed,...
- Speaking alongside Zelensky in Paris on Wednesday ahead of the talks, Macron said this was now a "decisive phase to put an end to the war of aggression"
- Macron also announced a new French two billion euro ($2.2 billion) military aid package for Ukraine, with Paris ready to rapidly ship existing hardware from its stocks