Diplomats say at least 550 pilgrims died during hajj, mostly Egyptians
"All of them (the Egyptians) died because of heat" except for one who sustained fatal injuries during a minor crowd...
Abu Dhabi’s private sector grows by over 35 percent in 2023
ABU DHABI, UAE – The Abu Dhabi Department of Economic Development (ADDED) organized, in collaboration with Abu Dhabi Investment Office...
Economy
Business
Drought forces Panama Canal operator to cut ship traffic
Panama City, Panama - The operator of the Panama Canal, the passageway for cargo ships between the Atlantic and Pacific oceans,...
- Traffic will be reduced to 25 ships a day from Friday, down from 29, and will drop to 18 ships a day by February, the Panama Canal Authority said
- The 50-mile (80-kilometer) long waterway provides direct access between the Atlantic and Pacific oceans, bypassing the South American continent
Geostrategy
Nordic countries announce deal to strengthen repatriation of refugees
COPENHAGEN, DENMARK - Nordic migration and justice ministers on Tuesday announced a deal to strengthen efforts for migrants to return to...
- Denmark has spearheaded harder lines on migrants in the Nordics and stepped up initiatives to discourage immigration.
- The first of the three initiatives was to increase collaboration between migration attaches responsible for deportation in the Nordic countries.
Business
NMDC, AD Ports Group ink MoU
The firms will continue to work closely on future global projects.
- The agreement is in line with the objectives of UAE’s national strategy for industry and advanced technology.
- The MoU will help the two firms to work together to strengthen the global maritime industry and support the economic growth of the UAE.
Geostrategy
COP28 wide open to private sector, says climate talks chief
ABU DHABI, UAE - Upcoming UN climate talks in Dubai will be open to the private sector on an unprecedented scale,...
- Sultan Al Jaber, the COP28 president has consistently tried to frame the climate crisis as an economic opportunity.
- He said about 70 ministers and 100 delegations are attending the two-day talks, more than double the usual number.
Economy
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...
- Interest rate hikes slow down inflation by raising the cost of borrowing from the bank, which dampens economic activity and weakens the labor market.
- Since peaking at more than seven percent in June last year, inflation as measured by the Fed's favored yardstick has fallen by more than half.
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.
Geostrategy
Saudi Arabia selected as member of UN’s AI Advisory Body
New York, United States-- United Nations Secretary-General António Guterres Friday announced the selection of Saudi Arabia to the UN Advisory...
- UN Advisory Body on Artificial Intelligence (AI) consists of 39 members representing government and private and civil-society organizations.
- Shura Council member Dr. Latifa bint Mohammad Al-Abdulkareem will represent the Kingdom at the UN AI Advisory Body.
Geostrategy
India shocked at Qatar death penalty for 8 ex-naval officers
NEW DELHI, INDIA - India said on Thursday that eight of its citizens had been sentenced to death by Qatar in...
- India said it would "take up the verdict with Qatari authorities" and would continue to "extend all consular and legal assistance" to the prisoners.
- “We have initial information that the Court of First Instance of Qatar has today passed a judgement in the case,” India’s foreign ministry said in a statement.
Business
Lebanon national carrier halves flights amid fears of Israel war
BEIRUT, LEBANON - Lebanon's national carrier on Friday said it was cutting more than half of its flights as tensions along...
- Only eight of the Middle East Airlines company’s 22 planes would operate as of next week, with the rest of the fleet relocated to other airports.
- Other airlines, including Swiss International Air Lines and Germany's Lufthansa have already temporarily suspended Beirut flights,
Geostrategy
Israel army orders evacuation of northern city after Lebanon clashes
KIRYAT SHMONA, ISRAEL - The Israeli military announced plans to evacuate the northern city of Kiryat Shmona on Friday, after days...
- Lebanon's Iran-backed Hezbollah and allied Palestinian factions have traded cross-border fire with Israel for days.
- Israeli authorities have been steadily evacuating communities near the Gaza border and along the country's northern frontier.
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Diplomats say at least 550 pilgrims died during hajj, mostly Egyptians
"All of them (the Egyptians) died because of heat" except for one who sustained fatal injuries during a minor crowd...
Company News
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Goldman Sachs, Mubadala ink pact
Business
UN agency exhorts Israel to allow port for Gaza aid transfer
Rome, Italy - The UN's food agency on Thursday said it was pressing Israel to allow it to use the Ashdod...
Geostrategy
Hamas expresses dissatisfaction over Israel’s stance on Gaza truce
A senior Hamas official confirmed that the group's delegation in talks seeking a Gaza truce left Cairo for consultations in...
Geostrategy
Scientists launch hub to channel quantum power for good
GENEVA, SWITZERLAND – Scientists will work to channel the huge emerging power of quantum computers for the common good at a...
Science
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Geostrategy
Western countries shelve plans to censure Iran at UN nuclear meet
Western powers will not censure Iran over its lack of cooperation with the UN nuclear watchdog at its Board of...
- The issues include expanding its nuclear work, deactivating agency surveillance devices for monitoring Iran's nuclear program and barring senior inspectors.
- The so-called E3 group -- France, Germany and the United Kingdom -- initially planned to censure Iran for its lack of cooperation with the agency.
Geostrategy
UNRWA head seeks General Assembly support after backlash
The head of the UNRWA is set to defend his organization's work at the General Assembly, after crippling backlash over...
- The UNRWA's ability to carry out its mandate is "seriously threatened," Lazzarini said.
- The agency has been at the center of controversy since Israel accused about a dozen of its employees of involvement in the October 7 attack.
Business
Dubai International Boat Show helps in marine business
DUBAI, UAE – Dubai International Boat Show has wrapped up following a hugely successful week of high-value boat sales, important...
- The exhibition is recognized as one of the most influential boat shows in the world.
- The exhibition has wrapped up following a hugely successful week of boat sales.