US Federal Reserve’s preferred inflation gauge ticks up as fuel costs rise
WASHINGTON, US – The US central bank's favored measure of inflation edged higher last month on the back of rising fuel...
Economy
World’s only Dragon Ball theme park launched in Saudi Arabia’s Qiddiya City
RIYADH, SAUDI ARABIA – The Board of Directors of the Qiddiya Investment Company (QIC) revealed on Sunday the launch of...
Arts & Culture
Geostrategy
Hamas frees more captives in Gaza as truce extension mooted
Hamas released a third group of hostages including a four-year-old American girl with more Palestinian prisoners set to be freed...
- The exchanges under a four-day ceasefire that started Friday have been the first relief for captives' families.
- United States President Joe Biden announced that the 13 released included a four-year old American girl..
Geostrategy
Every industry should be held accountable on climate, says COP28 president
Paris, France - The president of a pivotal UN climate summit defended on Saturday the large presence of industry representatives at...
- "Everyone needs to be part of this process and everyone needs to be held responsible and everyone needs to be held accountable," COP28 president Sultan Al Jaber said
- "That includes all industries and in particular heavy emitting industries like aviation, transportation, aluminum, cement, steel, as well as the oil and gas industry," he added
Economy
ADB plans to invest US$100bn to maximize climate impact
MANILA, PHILIPPINES - Setting the scene for a low-carbon and climate-resilient Asia and the Pacific, the Asian Development Bank (ADB)...
- By 2030, more than 55 percent of the population of Asia and the Pacific will live in urban areas, driving up demand for urban-related services.
- If urban areas continue along the same growth trajectory, Asian cities could contribute over half of the rise in global GHG emissions in the next 20 years.
Science
WHO says misuse of antibiotics undermining efficacy
Copenhagen, Denmark - Misuse of antibiotics is denting their efficacy and spawning resistant bacteria which could be responsible for 10 million...
- WHO warned that without immediate intervention, resistance to antimicrobials -- which includes antibiotics -- could lead to up to 10 million deaths a year by 2050
- It cited incorrect prescription as a "cause for concern," adding that in all the 14 countries, a third of the roughly 8,200 people surveyed had taken antibiotics without advice
Economy
Tax havens only half the story, says OECD
Paris, France - Tax havens are blamed for lower public revenues elsewhere as they lure away multinational firms but a study...
- Half the profits booked by multinationals benefitting from low tax rates were from countries that have high rates but offer various tax breaks to attract investments.
- "Many jurisdictions typically considered (to be) 'high tax' offer various incentives which can lead to substantially reduced tax rates," said the report further.
Geostrategy
Fishing nations pledge to protect sharks, rays
CAIRO, EGYPT - Atlantic fishing nations have agreed to better protect sharks and rays by limiting the retention of several bycatch...
- Sharks and rays are facing what conservationists have called an extinction crisis, with nearly two thirds of coral reef species at risk.
- Sharks and rays must be better protected by governments and fisheries said an advocacy coalition advancing conservation policies.
Business
Norwegian firm expects first cross-border transport of CO2 in 2025
Oslo, Norway -- Norwegian fertilizer group Yara International on Monday signed a contract to begin transporting CO2 produced at its Netherlands...
- Yara International signed a contract to begin transporting CO2 produced at its Netherlands plant to Norway so it can be buried under the seabed.
- Carbon capture and storage is aimed at helping halt climate change, involves capturing CO2 emissions at factory smokestacks and burying them underground in geological reservoirs.
Geostrategy
Manama Dialogue helps in addressing political, security challenges, says GCC
MANAMA, BAHRAIN – Secretary General of the Gulf Cooperation Council (GCC) Jasem Mohamed Albudaiwi has said that the hosting of...
- The conference brings together global senior officials and experts to exchange ideas and theories about common challenges.
- It will help in understanding and analyzing issues, promoting security, peace, prosperity and supporting sustainable development.
Geostrategy
Hundreds flee as Gaza’s main hospital evacuated
Hundreds of people fled after Israel's army ordered the evacuation of Gaza's main hospital where over 2,000 people were trapped...
- Israel has been pressing military operations inside the hospital, searching for the Hamas operations center it says lies under the sprawling complex.
- Israel has vowed to destroy Hamas in response to the October 7 attacks which Israeli officials say killed about 1,200 people, most of them civilians.
Geostrategy
Germany, Turkey leaders hold divergent views on Israel-Hamas war
BERLIN, GERMANY - Germany and Turkey's leaders traded barbs on Friday over Israel's war on Hamas, with Frank-Walter Steinmeier stressing the...
- Turkey’s President Erdogan is on a controversial visit to staunch Israel defender Germany, made more tricky by his accusations directed at Tel Aviv.
- Erdogan has been increasingly critical of Israel's war against Hamas, triggered by the group's attack that Israel said killed around 1,200 people.
US Federal Reserve’s preferred inflation gauge ticks up as fuel costs rise
WASHINGTON, US – The US central bank's favored measure of inflation edged higher last month on the back of rising fuel...
Economy
Company News
Goldman Sachs, Mubadala ink pact
Business
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Hamas team heads to Cairo for new truce talks
Palestinian Territories - A Hamas delegation was expected to fly to Cairo on Saturday for talks on a truce in...
Geostrategy
Apple’s changes contradicts European rules, 34 firms complain
Brussels, Belgium - Changes Apple is making to its services in the European Union "make a mockery" of new antitrust rules...
Business
Total value of Saudi Arabia’s export of dates reaches US$389m in 2023
RIYADH, SAUDI ARABIA - According to data released by the National Center for Palms and Dates (NCPD), the value of...
Business
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Geostrategy
Hamas says Israeli military action kills 7 hostages in Gaza
Hamas said that seven more hostages seized during its unprecedented attack on southern Israel on October 7 had died because...
- Hamas seized around 250 Israelis and foreigners during the October 7 attack on southern Israel.
- A spokesman for the UN agency OCHA told reporters that "if something doesn't change, a famine is almost inevitable" in Gaza.
Science
Energy-related global CO2 emissions hit record levels in 2023, says IEA
PARIS, FRANCE – Energy-related carbon dioxide emissions rose to a record level in 2023, but the growth slowed from previous years...
- CO2 emissions from energy rose by 1.1 percent in 2023, increasing by 410 million tonnes to a record 37.4 billion tonnes.
- Without the drought and water shortfalls, global carbon emissions from power generation alone would have fallen last year.
Economy
World resource extraction could surge 60 percent by 2060, UN warns
Paris, France - Extraction of Earth's natural resources could surge 60 percent by 2060, imperiling climate goals and economic prosperity, the...
- The hunger for natural resources -- everything from food to fossil fuels -- keeps growing by an average of more than 2.3 per cent per year, it said.
- Extraction and processing of the huge amount of resources accounts for over 60 percent of planet-warming emissions, the report said.