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
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
Business
India’s IndiGo places record order for 500 Airbus A320
Indian carrier IndiGo said it had ordered a 500 A320 airliners from European manufacturer Airbus at the Paris Air Show....
- Airbus boss Guillaume Faury said the signing was "an enormous milestone, to our knowledge and recollection no-one has ever ordered" so many planes at a stroke.
- With an order book now at over 1,300 aircraft, the contract also makes IndiGo Airbus' largest customer for the A320 family.
Geostrategy
UAE, Morocco speakers of parliament discuss ways to enhance cooperation
MARRAKESH, MOROCCO - Speaker of the UAE Federal National Council (FNC) Saqr Ghobash met with Morocco Speaker of the House...
- The two sides discussed ways to enhance their parliamentary cooperation, including the exchange of visits and sharing of best practices.
- The meeting also highlighted the deep-rooted relations between the UAE and Morocco based on mutual respect and appreciation.
Business
Dubai International Chamber opens Europe’s first representative office in UK
DUBAI, UAE - Dubai International Chamber (DIC), one of the three chambers operating under Dubai Chambers, inaugurated on Friday a...
- The new office will focus its efforts on strengthening relationships with key public and private sector stakeholders.
- The office will support UK firms seeking to relocate to expand in Dubai and grow their business through the emirate.
Geostrategy
Saudi Arabia announces international conference on Sudan aid
Saudi Arabia announced that it would jointly lead a conference on the humanitarian response to the war in Sudan next...
- Saudi Arabia and the United States have been mediating in the eight-week conflict.
- The kingdom played a leading role in evacuating thousands of foreigners from Sudan early in the war.
Geostrategy
Iranian nuke expert, EU officials review Tehran’s atomic program
A landmark deal in 2015, formally known as the Joint Comprehensive Plan of Action (JCPOA), gave Iran sanctions relief in...
- Germany's foreign ministry said the meeting took place on Monday and that discussions broached topics concerning Iran's nuclear program.
- Iran's nuclear program has long been the subject of scrutiny from Western powers, resulting in sanctions that have hit the country's economy.
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.
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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
Latest News
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
Most Read
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