Rise in remittances hikes demand for Jordanian dinar, says chamber of commerce
AMMAN, JORDAN – Rising remittances from the Kingdom’s citizens working abroad has contributed to increasing demand for Jordanian dinar.Exchange companies...
Economy
Putin vows retribution on Moscow concert hall attacks, as toll rises
Russian President Vladimir Putin vowed to punish those behind a "barbaric terrorist attack" on a Moscow concert hall that killed...
Geostrategy
Geostrategy
Ready for prisoner swap with US, says Iran
Iran said it was hoping indirect talks with the United States could lead to a "positive" outcome for a prisoner...
- At least three Iranian-Americans are being held in Iran, including businessman Siamak Namazi, arrested in October 2015 and sentenced to 10 years in prison.
- "We are negotiating for the release of Iranian citizens through parties who play a role in good faith," Iran's foreign ministry spokesman Nasser Kanani said.
Business
New regulations aim to restrict greenwashing practices
PARIS, FRANCE- Common standards unveiled on Monday for companies to report their greenhouse gas emissions could curb misleading climate claims in...
- Currently, most large companies report how many tons of carbon they emit into the atmosphere each year, but the data is often not reliable.
- The poor quality of data and lack of common standards allows companies to overstate their climate credentials - the practice of "greenwashing".
Business
ADNOC Distribution, HPCL ink agreement
Will help to enhance efficiency of overseas operations.
- With an annual demand of three billion liters, India is among the world’s most significant markets for lubricants.
- ADNOC Distribution aims to enter this dynamic market, gaining access to a vast network of over 28,000 retail stations.
Geostrategy
China supported Russia to counter Wagner mutiny, says Moscow
MOSCOW, RUSSIA - Russia's foreign ministry said on Sunday that Beijing had backed Moscow's efforts to counter a short-lived armed uprising...
- Russia said China expressed for the efforts of the leadership of the Russian Federation to stabilize the situation in the country.
- It came after a meeting in Beijing between China's deputy foreign minister Ma Zhaoxu and Russian deputy foreign minister Andrey Rudenko.
Geostrategy
India’s Modi, Egypt’s Sisi pledge to deepen strategic partnership
Indian Prime Minister Narendra Modi met Egypt's President Abdel Fattah al-Sisi in Cairo on a rare visit during which both...
- New Delhi and Cairo have pledged to boost bilateral trade as India is also stepping up investment in Egypt, particularly in renewable energy.
- India is already Egypt's seventh-largest trading partner, according to data from Cairo's central bank, with trade reaching $7 billion last year.
Business
Siemens Energy shares fall due to technical problems at wind turbine unit
FRANKFURT, GERMANY - Shares in Siemens Energy plummeted on Friday after the company warned that technical problems at its wind turbine...
- Siemens Energy said it was setting aside over US$1.1 billion over the coming years to fix the issues at troubled wind turbine subsidiary Siemens Gamesa.
- Shares in Siemens Energy plunged by more than 30 percent shortly after trading opened in Frankfurt, and ended the day about 37 percent lower.
Economy
Interest rate increase must to control inflation, says Federal Reserve official
A senior US Federal Reserve official said that additional interest rate hikes are needed to tackle historically high inflation. "I...
- The Federal Reserve's benchmark now sits in a range between 5.0 and 5.25 percent - its highest level since 2007.
- All members of the Federal Open Market Committee predicted that the bank will have to raise its benchmark further before the end of the year.
Business
Musk, Zuckerberg seek cage fight to settle differences
Months after Musk took over Twitter, Zuckerberg's Meta hinted it was planning to launch its own text-based social media platform...
- The two men have baited each other for years with opposing views on everything from politics to artificial intelligence.
- Musk responded angrily to a recent claim by a Meta official that there was appetite for a "sanely run" Twitter alternative.
Business
Hyundai targets two million EV sales by 2030
SEOUL, SOUTH KOREA - Hyundai Motor said on Tuesday it aims to sell two million electric vehicles a year by 2030,...
- If the firm reaches the new goal, its electric vehicles, including luxury brand Genesis, would account for 34 percent of its worldwide sales in 2030.
- The South Korean carmaker - one of the world's largest - is under pressure in the United States and Europe to boost local production of clean vehicles.
Business
Expo 2030: All eyes on Riyadh as it makes a big pitch
With ongoing mega-projects and economic diversification, Riyadh's strong Expo 2030 candidacy has already garnered support from 90 of 170 member...
- With ongoing mega-projects and economic diversification, Riyadh's strong Expo 2030 candidacy has already garnered support from 90 of 170 member states
- Aiming to surpass Expo 2020 Dubai's visitor count, the Kingdom anticipates more than 40 million on-site and a billion virtual Metaverse visits during the event
Rise in remittances hikes demand for Jordanian dinar, says chamber of commerce
AMMAN, JORDAN – Rising remittances from the Kingdom’s citizens working abroad has contributed to increasing demand for Jordanian dinar.Exchange companies...
Economy
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Jordan defeats Tajikistan to reach first Asian Cup semi-final
DOHA, QATAR - Jordan set up a semi-final against South Korea or Australia after ending Tajikistan's fairytale Asian Cup run with...
Arts & Culture
China economic slowdown to continue for the next four years, says IMF
BEIJING, CHINA - China's economic slowdown is likely to persist in the coming years as the Asian giant struggles with sagging...
Economy
Spain urges WTO meet in UAE to address de-globalization
ABU DHABI, UAE - Madrid wants the upcoming 13th Ministerial Conference (MC13) of the World Trade Organization (WTO) here next...
Business
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Business
UPS says will cut 12,000 jobs
The move comes as UPS seeks to "align" its resources.
- Three-quarters of the reductions are set to come in the first half, UPS CEO said.
- The decision comes after UPS reported Q4 2023 revenues of US$24.9 billion.
Geostrategy
Residents of Gaza lament suspension of UN agency funding
Gazans lamented the suspension of funding to the UN agency for Palestinian refugees by several donor countries after Israel charged...
- Several countries, including the United States, France, Britain, Germany and Japan, have announced the suspension of further funding to the agency.
- In Rafah, where 1.5 million displaced people have taken refuge, Gazans said that the support they received from the agency amounted to a lifeline.
Geostrategy
UN chief calls for continuity in aid as battle rages in Gaza
Heavy fighting raged in Gaza amid a row over the UN agency for Palestinian refugees that has called its future...
- The Israeli army said special forces were continuing to engage in "intensive battles" in Gaza's main southern city of Khan Yunis.
- UNRWA said it had fired several employees over Israel's accusations of its staff