Iraqi PM to visit Washington for troop talks
Washington, US – President Joe Biden will welcome Iraq's prime minister on April 15 for talks on the US troop presence,...
Geostrategy
Russia not in danger of trading oil at a loss, says Lavrov
MOSCOW, RUSSIA – Russia does not see the risk of trading oil at a loss due to the redistribution of...
Business
Business
IEA says renewable energy capacity to increase at record level in 2023
PARIS, FRANCE - Renewable power capacity will grow by a record number this year as high fossil fuel prices and energy...
- Global additions of renewable energy capacity are expected to rise by 107 gigawatts to more than 440 GW in 2023.
- Newly installed solar and wind capacity is estimated to have save EU electricity consumers $107 billion between 2021-2023.
Market Report
Stock markets give out mixed signals as traders await US debt ceiling vote
Stock markets wobbled as a deal to hike the US debt ceiling and avoid a painful default goes to a...
- Ultra-conservative Republicans feel House Speaker should have secured far deeper spending cuts in exchange for raising the debt ceiling.
- The left wing of the Democratic Party is equally unhappy that President Joe Biden agreed to any spending limits at all.
Geostrategy
Would welcome diplomatic ties with Egypt, says Iran’s Supreme Leader
Iran's Supreme Leader Ayatollah Ali Khamenei said he would welcome a resumption of diplomatic relations with Egypt, during a meeting...
- Iran's Supreme Leader Ayatollah Ali Khamenei said that the Omani leader had told him that Egypt would be willing to resume relations.
- Khamenei said that there should be an increase in cooperation between Oman and Iran as the two countries share the Strait of Hormuz.
Geostrategy
Energy minister leads UAE delegation to development road conference in Iraq
ABU DHABI, UAE - Minister of Energy and Infrastructure Suhail bin Mohammed Al Mazrouei headed the UAE delegation to the...
- The one-day conference brought together transport ministers and officials from the Gulf Cooperation Council, Iran, Turkey, Syria and Jordan.
- The huge infrastructure project will link southern Iraq to the border with Turkey from where it will connect to rail and road networks in Europe.
Geostrategy
Iraq plans ambitious Europe-Middle East road, rail project
Iraq presented an ambitious plan to turn itself into a regional transportation hub by developing its road and rail infrastructure,...
- War-ravaged and beset by rampant corruption, oil-rich Iraq suffers from dilapidated infrastructure.
- Developing the road and rail corridor would allow Iraq to capitalize on its geographical position.
Geostrategy
Iran, Belgium free jailed persons in prisoner swap
Iran freed Belgian aid worker Olivier Vandecasteele after almost 15 months in custody, in a prisoner exchange for an Iranian...
- Oman said it had helped broker an "exchange deal" and that an Iranian previously held in Belgium was on his way to Tehran.
- Iran announced that the freed Iranian is diplomat Assadollah Assadi, who was jailed in Belgium over a 2018 plot.
Economy
China scammer uses AI to pose as man’s friend, steal millions
The victim, surnamed Guo, received a video call last month from a person who looked and sounded like a close...
- Guo was persuaded to transfer $609,000 after the fraudster claimed another friend needed the money to come from a company bank account to pay the guarantee on a public tender
- Realising his mistake after messaging the friend whose identity was stolen, Guo alerted police who notified a bank to stop trasaction and he managed to recover his 3.4 million yuan
Business
Qatar Airways boss skeptical on aviation industry’s 2050 net zero target
DOHA, QATAR - Qatar Airways' chief executive on Tuesday doused hopes that the aviation industry can become carbon neutral by 2050,...
- Not enough sustainable aviation fuel is being produced, and technological hurdles remain to using hydrogen as a replacement.
- In 2021, the International Air Transport Association's member airlines committed to achieving net zero carbon emissions by 2050.
Geostrategy
SCCI discusses trade with Guatemalan, Indonesian delegations
SHARJAH, UAE - The Sharjah Chamber of Commerce and Industry (SCCI) has discussed strengthening trade and economic ties with diplomatic...
- The discussions focused on amplifying bilateral relations in industry, agriculture, food security, livestock and broadening trade exchanges.
- SCCI invited Indonesian businessmen to visit Sharjah to see the progress on existing projects and experience the facilities the emirate offers.
Business
Allen & Overy to merge with US peer
The merged firm will have a combined revenues of $3.4bn.
- The new group, called Allen Overy Shearman Sterling or A&O Shearman, was "truly a game-changing moment for both firms".
- The merged firm will have around 3,900 lawyers and about 800 partners across a total of 49 offices worldwide.
Iraqi PM to visit Washington for troop talks
Washington, US – President Joe Biden will welcome Iraq's prime minister on April 15 for talks on the US troop presence,...
Geostrategy
Company News
Oil prices rise following Red Sea attacks
Market Report
Latest News
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...
Business
Coach Mancini warns Saudi against taking Kyrgyzstan lightly
Doha, Qatar - Roberto Mancini warned Saudi Arabia against falling victim to the kind of Asian Cup shock suffered by favorites...
Arts & Culture
Healthcare industry globally faces data hacking threat
DUBAI, UAE - In an age where data is a cornerstone of modern healthcare, the industry faces an escalating threat...
Business
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Geostrategy
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...
- The Federal Prosecutor's Office said that it had received a criminal complaint against the Israeli president.
- South Africa launched the emergency case at the ICJ, arguing that Israel had breached the 1948 UN Genocide Convention.
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...
- Since the Israel-Hamas war broke out, residents of southern Lebanon have been receiving strange phone calls from Lebanese numbers.
- Lebanese security officials and the Iran-backed Hizbollah group, a Hamas ally, believe the strange calls are in fact from Israelis.
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...
- The 164 WTO members kicked off a month of negotiations this week at the global trade body's headquarters in Geneva.
- The draft text is intended to help members reach agreement on a so-called "clean text" for submission to ministers in Abu Dhabi.