US teens make efforts for Jewish-Muslim dialogue in New Jersey suburb
TEANECK, US - They are only teenagers, but a pair of New Jersey high school students -- one Jewish and one...
Arts & Culture
World sees first 12 months above 1.5C warming level, says climate monitor
PARIS, FRANCE - Earth has endured 12 consecutive months of temperatures 1.5C hotter than the pre-industrial era for the first time...
Science
Economy
EU expects more GCC investors for its special program: Official
On 12th October 2021, the European Commission issued its first-ever NextGenerationEU green bond
- The program is a temporary recovery instrument to help Europe repair the immediate economic and social damage brought about by COVID-19.
- Since June 2021, the European Commission has rolled out five issuances and raised around €71 billion in long-term EU-Bonds, and short-term EU-Bills
Economy
GCC must heed IMF take on emerging economies
The IMF's warning that developing nations are about to face what it called “economic turbulence” is bad news for the...
- GCC countries are depending on emerging nations to diversify their own economies
- With those economies now under a cloud, the GCC nations should choose their next steps carefully
Geostrategy
European Union says last seven years warmest on record globally
The last seven years have been the hottest on record globally "by a clear margin", the European Union's climate monitoring...
- In its latest annual assessment, the Copernicus Climate Change Service (C3S) confirmed that 2021 had joined the unbroken warm streak since 2015.
- The annual average temperature was 1.1 to 1.2 degrees Celsius above pre-industrial levels, measured between 1850 and 1900, C3S said.
Analysis
UNWTO optimism to cheer up MENA tourism
While the likes of Egypt, Morocco, Tunisia, and Jordan depend heavily on tourism for revenue, the UAE and Saudi Arabia...
- UNWTO Executive Director Zoritsa Urosevic has said that the ‘future is bright’ for the tourism sector
- Tourists ‘will come back’ and the industry will recover from the pandemic because it is ‘very resilient,’ she said
Economy
Oil prices jump as unrest continues in Kazakhstan
Over the week, crude prices gained about 5 percent and on Friday Brent exceeded $83 per barrel.
- Kazakhstan is the largest oil producer in central Asia with a twelfth of the world's proven reserves, and produced around 1.8 million barrels a day in 2020
- The country is also the second largest oil producer in the OPEC+ group of top oil producers, behind Russia
Analysis
GCC at risk from cyber criminals in 2022
Companies are hemorrhaging millions of dollars to ongoing ransomware raids, with threat actors further weaponizing the attacks.
- Ransomware attacks on high-profile organizations grabbed headlines throughout 2021
- Cybersecurity experts believe this criminal enterprise will reach new heights in 2022
Economy
Food prices rose 28.1% in 2021, may remain high in 2022: FAO
The FAO’s Food Price Index, which tracks monthly changes in international prices, averaged 125.7 points.
- FAO Senior Economist Abdolreza Abbassian explained that high prices are normally expected to ease as production increases to match demand
- This time, however, the global pandemic and ever climatic conditions ‘leave little room for optimism’ even in 2022, she said
Interview
‘Challenging year ahead for logistics industry’
Companies have used innovative methods to keep their operations running while overcoming numerous challenges linked to Covid-19 pandemic. However, the...
- The limited capacity and high freight rates will remain until global vaccine campaigns gather traction
- Logistic companies who fail to recognize necessity of digital adoption will be left behind
Geostrategy
World powers pledge to halt spread of nuclear arms
The statement was issued after the latest review of the Treaty on the Non-Proliferation of Nuclear Weapons (NPT) — which...
- The NPT recognizes China, France, Russia, the UK, and United States as nuclear weapons powers
- India and Pakistan have also developed nuclear weapons, while Israel is widely believed to possess nuclear arms
Analysis
Factors that may impact oil’s demand-fueled recovery
At the global scale, 56.5 percent of oil reserves and 26.7 percent of natural gas reserves are owned by Arab...
- The financial crisis of the Arab countries will not ease unless oil prices, which will remain above $80 per barrel until 2025-end, come down
- Oil prices climbed by about $28.2 per barrel from January until October 2021, showing 51.2 percent increase over the 10 months
US teens make efforts for Jewish-Muslim dialogue in New Jersey suburb
TEANECK, US - They are only teenagers, but a pair of New Jersey high school students -- one Jewish and one...
Arts & Culture
Company News
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Climate change to be discussed in Dubai COP28 meet, says Egypt minister
Cairo, Egypt - Egyptian Minister of International Cooperation Dr. Rania Al Mashat, said the 28th Conference of the Parties to...
Business
Spanish footballer Veiga to play for Saudi club Al Ahli
Gabri Veiga, one of Spain's most promising young players, signed for Saudi Arabian side Al-Ahli from Celta Vigo in a...
Arts & Culture
US Federal Reserve prepared to raise interest rates further
The US Federal Reserve is prepared to raise interest rates higher - and hold them there - to bring down...
Economy
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Geostrategy
Algerian, South African ministers discuss ways to boost economic cooperation
JOHANNESBURG, SOUTH AFRICA - Algerian Minister of Finance Laaziz Faid discussed with South African Finance Minister Enoch Godongwan, ways to...
- The two ministers discussed the available opportunities to enhance trade exchange between Algeria and South Africa.
- The aim of trade exchange and joint investment is achieving sustainable development in the region.
Geostrategy
Iran’s BRICS membership to strengthen group, says XI
TEHRAN/ JOHANNESBURG, IRAN/ SOUTH AFRICA - The Iranian and Chinese presidents stressed the need to bolster bilateral cooperation and the...
- The BRICS heads of state held their 15th annual summit in Johannesburg.
- The heads of state called for the use of local currencies to facilitate trade.
Business
Microsoft submits new Activision deal
A previous version of the acquisition deal was blocked.
- Xbox-owner Microsoft launched a bid for Activision Blizzard early last year, seeking to establish the world's third biggest gaming firm by revenue.
- Britain's Competition and Markets Authority said it has "opened a new phase 1 investigation into the restructured deal by Microsoft to buy Activision".