Oil prices rise following Red Sea attacks
Market Report
Saudi Arabia takes part in global mineral and mining meet in Canada
RIYADH, SAUDI ARABIA – A delegation comprising several entities from the Kingdom’s industry and mineral resources' system participated in PDAC...
Business
Geostrategy
UAE highlights efforts in space sector at UN committee meet
ABU DHABI, UAE - A high-level UAE delegation at the 66th session of the United Nations Committee on the Peaceful...
- The UAE highlighted the significance of the peaceful use of outer space, acknowledging the right of all member states to develop their capabilities.
- The UAE also focused on the importance of international collaboration to ensure space technologies benefit humanity in times of disaster.
Geostrategy
US, India agree on defense industry cooperation plan
The United States and India agreed a roadmap for military industrial cooperation, as New Delhi seeks to reduce its reliance...
- Moscow and New Delhi have been allies for decades, with Russia by far India's biggest arms supplier.
- India is looking to diversify, both by broadening its sources of imports and ramping up domestic production.
Business
Airlines to fly 4.35bn passengers this year, says industry group
ISTANBUL, TURKEY - Airlines will fly 4.35 billion passengers this year, close to the 2019 record as the industry bounces back...
- The sector will also be back in the green, with net profits forecast to reach $9.8 billion in 2023.
- The association said that its 2022 losses were half as bad as previously estimated at US$3.6 billion.
Geostrategy
US official meets UAE diplomats to discuss climate change
DUBAI, UAE - US special climate envoy John Kerry has met senior Emirati officials in Abu Dhabi, including the head of...
- Oil producers have for year touted carbon capture as a potential global warming solution.
- With little investment, carbon capture technology is nowhere near the scale needed to make a significant difference.
Business
EU bicycle exports surged to US$1.1bn in 2022
BRUSSELS, BELGIUM - The EU exported US$1.1 billion (€1.1 billion) worth of bicycles in 2022 (both electric and non-electric, a...
- The EU exported 365,000 electric bicycles and imported 1.2 million in 2022 while the imports were worth US$2.6 billion.
- The overall increase in the trade of bicycles can be attributed to an increase in the export and import of electric bicycles.
Geostrategy
Dane, two Austrian-Iranian citizens released by Tehran arrive home
One Dane and two Austrian-Iranian citizens released from detention by Tehran arrived in their home countries, after the latest in...
- Belgian Foreign Minister Hadja Lahbib welcomed them at the airport along with Danish and Austrian diplomats.
- The trio's release, as well as that of a Belgian aid worker a week earlier, were part of a prisoner swap.
Business
Renewable power capacity to rapidly expand, IEA report reveals
PARIS, FRANCE - Renewable power capacity is expected to jump by a third this year globally as growing policy momentum,...
- Renewables are at the forefront of Europe’s response to the energy crisis, accelerating their growth there.
- New policy measures are also helping drive significant increases in the United States and India over the next two years.
Geostrategy
Danish, two Austrian-Iranian citizens freed by Iran
Iran released one Danish and two Austrian-Iranian citizens it had been holding after mediation by Oman, and they are being...
- Thanking Belgium, Austrian Foreign Minister Alexander Schallenberg said, "Our years of diplomatic efforts to secure their release have borne fruit."
- The Danish man, who was not immediately identified, had been arrested in Iran in November 2022 on the sidelines of a demonstration for women's rights.
Economy
US Senate all set to pass debt deal bill as default almost avoided
US senators raced to pass a bipartisan debt limit deal approved overwhelmingly by the House of Representatives, with the worst-case...
- The bill passed the House on Wednesday with a big majority of 314 votes to 117 -- putting it on a glide path to the White House.
- The Senate has to agree unanimously to fast-track legislation and any individual member can draw out consideration of a bill for days.
Economy
UAE exports to reach $544bn by 2030, says Standard Chartered report
DUBAI, UAE - The UAE is poised to play a pivotal role in global trade with its exports projected to...
- The report forecasts the global trade industry to reach US$32 trillion by 2030, with a projected growth rate of five percent.
- The report said that corridors anchored in Asia, Africa, and the Middle East are expected to outpace the global trade growth rate.
Company News
Oil prices rise following Red Sea attacks
Market Report
Latest News
Complaint against Israeli President received: Swiss prosecutors
Israeli President Isaac Herzog has been targeted with a criminal complaint during a visit to Switzerland, Swiss prosecutors said, amid...
Geostrategy
Strange calls may precede Israeli attacks in Lebanon
BEIRUT, LEBANON - "Good morning, madame. This is the bank calling. Are you at home?" Since the Israel-Hamas war broke out...
Geostrategy
WTO hopes to finalize fishing agreement
GENEVA, SWITZERLAND - The head of the World Trade Organization's fisheries talks voiced optimism on Tuesday about striking an agreement on...
Geostrategy
Most Read
Business
Emirates to recruit 5,000 crew members in 2024
DUBAI, UAE – Emirates will hire 5,000 people as it awaits the arrival of its fleet of Airbus A350s.The airline is...
- The airline is inviting fresh graduates with internships or part-time jobs on their résumés.
- It is inviting individuals keen to embark on an exciting career travelling the globe. .
Geostrategy
Turkish strikes leaves hundreds of Syrian villages without electricity
Qamishli, Syria - Hundreds of northeast Syrian villages and towns have lost power after Turkish strikes pounded electricity stations and infrastructure,...
- The Kurdish administration said Turkey launched a slew of strikes since Friday, mostly concentrated on infrastructure including power stations and oil refineries
- The semi-autonomous Kurdish administration listed hundreds of villages and towns facing blackouts due to the Turkish strikes in a statement Monday
Geostrategy
EU worried Red Sea attacks could spark inflation
European Union economy commissioner Paolo Gentiloni warned that violence in the Red Sea sparked by Houthi attacks on shipping could...
- Gentiloni said that "what is happening in the Red Sea... is not for the moment apparently creating consequences on energy prices and inflation".
- Tensions in the Red Sea have soared after the United States and Britain carried out strikes on Houthi rebels in Yemen.