Norway sovereign fund drops investments in 11 Israeli companies
Oslo, Norway -- Norway's sovereign wealth fund, the world's largest, said Monday that it was selling its investments in 11...
Geostrategy
Thousands protest in Tel Aviv against Israeli govt move to expand Gaza war
Demonstrators waved signs and held up pictures of hostages still being held in the Palestinian territory as they called on...
Geostrategy
Economy
Turkey reels from surging inflation as it hits 24-year high
Turkish inflation jumped to a new 24-year high exceeding 83 percent in September, official data showed Monday after the central...
- President Recep Tayyip Erdogan, who has focused on growth ahead of a general election in June, has repeatedly railed against higher rates, calling them his "biggest enemy"
- The TUIK state statistics agency said Monday that consumer prices rose by 83.45 percent in September on an annual basis, up from 80.2 percent in August
Geostrategy
GCC renews pledge to deepen partnership with China
The Gulf Cooperation Council (GCC) has renewed its commitment to continue having a strong partnership with China in order to...
- The sentiment was echoed in a meeting between Secretary General of the GCC, Dr. Nayef Falah Mubarak Al-Hajraf, and China's Ambassador to Saudi Arabia, Chen Weiqing
- The two sides discussed all issues and topics of common interest, and reviewed the cooperation relations between the GCC and China to achieve common interests
Economy
Fed up of perennial power cuts, Gaza turns to solar
For most of Gaza's 2.3 million residents, living under a 15-year-old Israeli blockade, power cuts are a daily fact of...
- Gaza bakery owner Bishara Shehadeh began the switch to solar this summer, by placing hundreds of gleaming panels on his rooftop
- Green energy advocates say that solar energy is a vision for a global future as the world faces the perils of climate change and rising energy costs
Business
Crude prices surge as top producers plan to slash output
The jump comes after both main contracts suffered hefty losses in recent months on demand fears caused by an expected...
- WTI climbed 3.3 percent to $82.12 and Brent also piled on 3.3 percent to $87.94 ahead of a meeting of the group this week in Vienna
- The reduction in production -- which delegates to OPEC said had not been finalized -- would be the biggest since the pandemic began when crude prices collapsed
Geostrategy
Yemen ceasefire ends without extension as UN envoy urges calm
The United Nations envoy Hans Grundberg said efforts to extend and expand the ceasefire for a further six months had...
- The ceasefire, enacted for two months in April and renewed twice, has brought a sharp drop in fighting in the war between Huthi rebels and a Saudi-led pro-government coalition
- The war, which has been raging since 2014, has killed hundreds of thousands directly or indirectly and has created the world's worst humanitarian crisis
Geostrategy
Nine NATO nations won’t accept Russia’s annexation in Ukraine
The presidents of the countries issued a joint statement saying they could not "stay silent in the face of the...
- The nine nations are Czech Republic, Estonia, Latvia, Lithuania, Montenegro, North Macedonia, Poland, Romania and Slovakia.
- Their reaction comes two days after Russian President Putin signed treaties to annex four Moscow-occupied regions of Ukraine.
Business
Sharjah Chamber organizes forum, briefs Russian delegation
The Sharjah Chamber of Commerce and Industry (SCCI) has organized a forum to discuss ways to boost economic ties and...
- The forum witnessed bilateral meetings between business owners from Sharjah and Russia.
- The chamber briefed the Russian trade mission on Sharjah’s business advantages and facilities.
Geostrategy
Israel praises US proposal for Lebanon maritime border deal
The draft agreement floated by US envoy Amos Hochstein aims to settle competing claims over offshore gas fields and was...
- Israeli Prime Minister Yair Lapid told his cabinet on Sunday that the US proposal "strengthens Israel's security and Israel's economy."
- Lebanon and Israel have no diplomatic relations and their land border is patrolled by the United Nations.
Geostrategy
UAE-China ties successful model of international relations: Al Dhaheri
Beijing, China---Ali Obaid Al Dhaheri, UAE Ambassador to China, has said the UAE and China maintain close strategic relations, which...
- As one of the first countries to join the Belt and Road Initiative, UAE has become the main logistical centre in the MENA, said Ali Obaid Al Dhaheri.
- It re-exports more than 60 percent of Chinese exports to the region, where the value of trade exchange between the two countries has exceeded $70 billion.
Geostrategy
Afghan students rally in Herat after classroom attack
Hundreds of students were taking tests training for university admission, and the United Nations said at least 35 were killed...
- On Friday, a bomber blew himself up in the women's section of a gender-segregated study hall in Kabul's Dasht-e-Barchi neighborhood
- Women's rights protests have seen tense standoffs with authorities since the Taliban returned to power, with demonstrators detained
Most Read
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
Norway sovereign fund drops investments in 11 Israeli companies
Oslo, Norway -- Norway's sovereign wealth fund, the world's largest, said Monday that it was selling its investments in 11...
Geostrategy
Company News
Oil prices rise after US, UK strike Houthi rebels
Market Report
Latest News
S.Africa says Israel war undermining top UN court
South Africa's top diplomat accused Israel of setting a precedent for leaders to defy the top UN court, as she...
Geostrategy
UN says Israel may be using starvation as weapon of war
"The situation of hunger, starvation and famine is a result of Israel’s extensive restrictions on the entry and distribution of...
Geostrategy
UAE investments abroad reach US$2.5trn in beginning of 2024, says UAEIIC
ABU DHABI, UAE – The United Arab Emirates has solidified its position as a leading regional and global player in...
Business
Most Read
Biden summons Israeli team in bid to avoid Rafah assault
The move is one of the clearest attempts yet by Biden to rein in the key US ally, amid fears...
- US president also "reiterated the need for an immediate ceasefire as part of a deal to free hostages, lasting several weeks, so we can get hostages home"
- Biden has supported Israel since the October 7 attacks, sending billions of dollars in military aid, but has become frustrated by Netanyahu's failure to curb civilian deaths
Geostrategy
US destroys Houthi missiles, drones in new Yemen strike
United States Central Command forces operated "in self-defense" when they engaged and destroyed the anti-ship missiles and unmanned aerial vehicles,...
- Iran-backed Houthis have been attacking ships in the Red Sea region since November in what they say is solidarity with Palestinians during Israel's war against Palestinians in Gaza
- The United States and Britain have launched repeated strikes on Houthi targets in Yemen in response but the attacks against the ships have not been deterred
Geostrategy
China regulator to ban Evergrande chair from securities market for life
BEIJING, CHINA – Chinese regulators will ban the chairman of property giant Evergrande from the securities market for life on grounds...
- Unable to repay interest on its loans, China’s real estate firm Evergrande formally defaulted in 2021, sending shockwaves through the industry.
- The company has struggled to repay creditors for years, defaulting in 2021 and becoming subject to a winding-up order by a Hong Kong court earlier this year.