Leader of US Senate calls for election in Israel
The leader of the US Senate called for Israel to hold new elections in the most strident criticism yet by...
Geostrategy
Iran agricultural, food exports hit US$5.5bn in 11 months
TEHRAN, IRAN – The Ministry of Industry, Mine, and Trade said that Iran exported fisheries, livestock, agricultural and food products...
Economy
Market Report
Stocks jump, dollar falls as Federal Reserve seen curbing rate rises soon
Equity markets rose, with Paris hitting a record-high, as investors reacted positively to easing inflation, recession concerns and some strong...
- In a sign of cooling inflation, Singapore's central bank kept rates steady, having previously hiked five times in a row.
- Stocks advanced "on increasing signs that the global round of interest rate hikes could be drawing to a close".
Economy
IMF chief calls upon global community to avert a ‘second Cold War’
Countries must do more to avert the costly consequences of growing global trade fragmentation, and help avert a "second Cold...
- Multilateral institutions like the World Bank and IMF have an important role to play in preventing the world from splintering into different blocs.
- An IMF report said that growing trade fragmentation due to Brexit, US-China trade war and Russian invasion of Ukraine, could make the global economy.
Geostrategy
Russia to withdraw from grain deal if all conditions are not fulfilled
Russia delivered a new warning to the West over a grain deal with Ukraine, saying a number of conditions must...
- Russia, whose economy has been hit by a raft of Western sanctions, has repeatedly threatened to walk away from the agreement if obstacles to its own exports remain.
- There are no sanctions on Russian exports of food and fertilizers to global markets but the problems are related to sanctions on shipping, insurance companies and banks.
Fossil fuel pledges divide G7 in ‘critical decade’ for climate
The world's leading developed economies are all targeting net-zero emissions by 2050 or sooner after signing the Paris Agreement to...
- Britain has proposed new targets on the phase-out of domestic coal power in a draft statement ahead of the minister-level talks, which kick off in Sapporo
- Governments around the world will also be looking for action on resilience funding for the developing nations most affected by climate change
Business
LVMH posts Q1 revenue of $23.1bn
Jump in sales across all regions, including China.
- LVMH became Europe's most valuable company in January when its market capitalization soared to US$440 billion.
- The United States had a steady performance while "Asia experienced a significant rebound following the lifting of health restrictions".
Economy
Interest rate hikes adversely affect developing countries, says UN
The global economic slowdown and swelling interest rates are pummeling debt-ridden developing countries, the UN warned, urging bold global action...
- Rate increases in the US and other wealthy countries may cost developing countries over US$800 billion in lost income by 2025.
- UNCTAD said it now expected global GDP growth of 2.1 percent in 2023, down from 2.2 percent it forecast in September last year.
Science
UAE’s Rashid Rover to land on Moon on April 25
The Mohammed Bin Rashid Space Center in UAE said that Rashid Rover, onboard the HAKUTO-R Mission 1 Lunar Lander, is...
- During the landing sequence, the Lander will perform a braking burn, firing its main propulsion system to decelerate from orbit.
- Utilizing a series of pre-set commands, the Lander will adjust its altitude and reduce velocity to make a soft landing.
Economy
US consumer inflation slows to 5% in March year-over-year
US consumer inflation slowed in March lessening the pressure on the Federal Reserve to maintain its aggressive posture to cool...
- Bureau of Labor Statistics report is the latest evidence that the Fed's streak of interest rate hikes over the last year is weighing on economic activity.
- While US labor market data has remained solid, recent reports on manufacturing and the services sector have shown signs of slowing.
Economy
Global debt growing due to US, China, says IMFÂ
Global government debt is on track to reach levels not seen since the height of the COVID-19 pandemic, the International...
- In the US, government debt as a percentage of economic output is expected to surpass its pandemic-era peak by 2027.
- China's debt burden is forecast to be almost double its pre-pandemic levels by 2028, the IMF said.
Geostrategy
Tunisia intercepts over 14,000 migrants in January to March 2023
TUNIS, TUNISIA - Tunisia's coastguard said Friday it had intercepted over 14,000 migrants trying to reach Europe from January to March,...
- The figure has risen from 2,532 intercepted in the same period last year, including 1,657 from sub-Saharan Africa.
- Tunisia has long served as a launchpad for people fleeing conflict in countries as far afield as Cameroon and Sudan.
Leader of US Senate calls for election in Israel
The leader of the US Senate called for Israel to hold new elections in the most strident criticism yet by...
Geostrategy
Company News
Latest News
Foreign governments paid Trump firms millions as president, claims US report
NEW YORK, US - Former US president Donald Trump's businesses received at least $7.8 million from foreign governments including China during...
Geostrategy
UAE participates in UN Peacekeeping Ministerial Meeting in Ghana
ACCRA, GHANA - A United Arab Emirates delegation led by Dr. Rashed Ali Al Kaabi, Assistant Minister of Foreign Affairs...
Geostrategy
Iranian warship enters Red Sea, reports media
TEHRAN, IRAN - Iran's Alborz warship has entered the Red Sea through the strategic Bab al-Mandeb strait, Tasnim news agency reported...
Geostrategy
Most Read
YEARBOOK 2023
From climate action to global aid: Inside UAE’s remarkable year
Abu Dhabi, UAE -- The UAE is bidding farewell to 2023, dubbed the ‘Year of Sustainability'. From hosting the relatively...
- UAE launched ALTÉRRA, the world’s largest private investment climate action vehicle, aimed at raising and mobilizing an additional $250bn for climate action.
- Despite global headwinds, CBUAE projects 3.3 percent year-on-year growth projected for the UAE economy in 2024.
Geostrategy
5 WEF reports shaping your 2024 agenda
From AI to the future of jobs and slow climb to gender parity, WEF reports provide insights into some of...
- Buffeted by a global energy crisis, inflationary pressures and geopolitical instability, the move to clean energy has faced a challenging time.
- This year's top 10 emerging technologies will likely become increasingly familiar in the years ahead as they help tackle some of our biggest challenges.
Geostrategy
Google agrees to settle $5bn data privacy breach lawsuit
Google has agreed to settle a consumer privacy lawsuit seeking at least $5 billion in damages over allegations it tracked...
- The lawsuit, filed in a California court, claimed Google's practices had infringed on users' privacy by "intentionally" deceiving them
- Lawyers for the plaintiffs were seeking at least $5,000 for each user it said had been tracked as they visited Google Analytics in private browsing mode