Passenger air traffic has reached pre-pandemic levels, says ICAO
MONTREAL, CANADA – In the first quarter of 2024, the International Civil Aviation Organization (ICAO) projected that passenger air traffic...
Business
Business
Stock markets rise globally on cooling US inflation
Stock markets jumped after data showed US inflation slowed further in May, raising hopes the Federal Reserve will pause its...
- The dollar fell against other major currencies as the greenback usually benefits from higher interest rates.
- The US central bank has raised interest rates 10 straight times in efforts to combat elevated inflation.
Geostrategy
Indirect talks with US ongoing via Oman, says Iran
Iran said it has continued indirect negotiations with the Unites States through the Sultanate of Oman over its nuclear deal...
- A 2015 deal granted Tehran much-needed sanctions relief in exchange for curbs on its nuclear program.
- The two countries recently denied media reports that they were close to reaching an interim deal to replace the 2015 accord.
Business
George Soros hands over control of his $25bn empire to son Alexander
Billionaire investor George Soros had handed over control of his US$25 billion empire to his younger son Alexander Soros -...
- Alexander Soros recently met with Biden administration officials, Senate Majority Leader Chuck Schumer, and heads of state.
- The younger Soros is the only family member on the investment committee overseeing Soros Fund Management.
Geostrategy
Iran’s Raisi, France’s Macron discuss ways to promote ties
Iran's President Ebrahim Raisi and his French counterpart Emmanuel Macron in a lengthy phone call discussed ways to promote ties,...
- A 2015 nuclear accord between Iran and world powers gave the Islamic republic relief from international sanctions in return for curbs on its nuclear program.
- In 2018 the United States withdrew unilaterally from the deal and reimposed sanctions, prompting Tehran to suspend implementing its own commitments.
Geostrategy
45 governments endorse doubling energy efficiency by 2030
PARIS, FRANCE - Forty-five governments have endorsed doubling the average global rate of energy efficiency improvements by the end of...
- The meeting stressed as to how energy efficiency can help accelerate clean energy transition toward reaching net zero emissions by 2050.
- The meeting underscored that effective policies must be fully leveraged to encourage behavior change among consumers and businesses.
Geostrategy
UAE convenes Security Council meet, urges UN, League of Arab States to cooperate
NEW YORK, US - Minister of State Khalifa Shaheen Al Marar chaired the first signature event of the UAE’s United...
- UAE called on UN and League of Arab States to work jointly on combating terrorism, preventing conflicts by championing the values of tolerance.
- The UAE would support the work of the Security Council in reaching decisions that contribute to resolving Arab and international issues.
Geostrategy
Russia plans to make Iranian drones by next year, says US government
Russia is receiving materials from Iran to build a drone factory that "could be fully operational early next year," White...
- "The Russia-Iran military partnership appears to be deepening," Kirby said in a statement, citing US intelligence information.
- Washington estimates that Russia has received hundreds of attack drones as well as related equipment from Iran to aid Moscow's invasion of Ukraine.
Business
Dubai International Chamber launches International Partners Network
DUBAI, UAE - Dubai International Chamber (DIC), one of the three chambers operating under Dubai Chambers, has launched the International...
- The International Partners Network will be focused on updating stakeholders on the chamber's attraction and expansion plans.
- The network supports the Chamber's strategic objectives of attracting 100 SMEs, 30 MNCs, expand100 Dubai-based companies by end of 2024.
Geostrategy
GCC, US vow to work jointly for regional stability
The strategic partnerships between the two sides seek to focus on peace, security, stability, integration, and economic prosperity in the...
- The strategic partnerships between the two sides aim at focusing mainly on peace, security, stability, integration, and economic prosperity in the Middle East.
- Beside supporting Yemeni peace efforts and humanitarian needs, the US and GCC also make a commitment to freedom of navigation and maritime security in the Gulf region.
Economy
World Bank lowers MENA’s growth forecast to 2.2 percent in 2023
DUBAI, UAE - The World Bank raised its global growth forecast for 2023 to 2.1 percent (in June 2023) from...
- The World Bank expects global growth to reach 2.4 percent in 2024, compared to 2.7 percent in January 2023.
- The possibility of widespread banking disruptions and tighter monetary policy may also lead to weaker global growth.
Passenger air traffic has reached pre-pandemic levels, says ICAO
MONTREAL, CANADA – In the first quarter of 2024, the International Civil Aviation Organization (ICAO) projected that passenger air traffic...
Business
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5 WEF reports shaping your 2024 agenda
Geostrategy
Latest News
UAE plans to issue bonds, Sukuk valued at $1.3bn in Q1 2024, says official
HONG KONG - UAE Ministry of Finance Undersecretary Younis Haji Al Khoori announced that the ministry's issuance of bonds and...
Business
Yemen-based Houthis fire missiles at ships in Red Sea, says US
Yemen's Iran-backed Houthi rebels fired three missiles at two merchant ships in the Red Sea in their latest attack in...
Geostrategy
EU plans measures to protect sensitive technology from China
The European Union unveiled plans to strengthen the bloc's economic security including measures to protect sensitive technology from falling into...
Geostrategy
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Business
Imane Ayissi brings African tradition to Paris couture
PARIS, FRANCE - Imane Ayissi is on a mission to put authentic African textiles in the spotlight but faces an uphill...
- Ayissi in 2020 became the first designer from sub-Saharan Africa at haute couture week and seeks to resurrect more traditional fabrics like rafia.
- Such fabrics are drawn from local trees and plants, that were used before the African market was flooded with imports during the colonial period.
Business
Mac computers could reach new glory due to AI
SAN FRANCISCO, US - Forty years after igniting a PC revolution, Apple's Mac is stronger than ever and could reach new...
- Macs became the preferred choice for Apple fans along with artists, film makers and other creative professionals.
- Apple has been making inroads in business, getting help from iPhone lovers using their smartphones for work.
Business
Tata Group retains IPL sponsorship rights for record $300m
New Delhi, India - Corporate behemoth Tata Group has again been awarded title sponsorship rights of the Indian Premier League for...
- Tata Group already holds the title sponsorship for the IPL and its sister competition, the Women's Premier League, which staged its first tournament last year
- The IPL attracts cricket's top international stars with bumper salaries, and features 10 sides competing in the sport's hugely popular Twenty20 format