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
Shipping service connecting India, South East Asia with Saudi Arabia comes up
RIYADH, SAUDI ARABIA – VASI Shipping Pte Ltd has introduced a new shipping service IMS at King Abdulaziz Port in...
Business
Business
HFZA showcases Sharjah as attractive investment destination at India Steel 2023
SHARJAH, UAE - India is among the UAE's most significant investment partners, with substantial mutual investments. Iron and steel rank...
- Iron and steel rank among the top commodities exported from the UAE to India.
- India is among UAE's most vital trade partners, with substantial mutual investments.
Economy
Collective action required for food security, says FAO
MIYAZAKI, JAPAN - With hunger levels rising and food prices soaring in most of the world, collective actions are necessary...
- Trade continues to be key for global food security and all nations must commit to well-functioning markets and transparency, FAO said.
- "We need to work together in an efficient, effective and coherent manner to identify the solutions," FAO added.
Geostrategy
Russia expels more than 20 officials from German embassy
MOSCOW, RUSSIA - The Russian foreign ministry spokeswoman on Saturday announced the expulsion of "more than 20" German diplomats as a...
- Russian ministry spokesperson told state-run television Zvezda that Moscow had decided to expel "more than 20" diplomats.
- Her statement came shortly after Russia denounced "another mass expulsion of employees of Russian diplomatic missions in Germany.
Science
UN chief calls for protection of biodiversity on International Mother Earth Day
NEW YORK, US - UN Secretary-General António Guterres issued a statement calling for urgent action to protect the environment and...
- The UN chief highlighted the crucial relationship between humanity and the natural world.
- He called for deeper and faster emissions cuts to limit global temperature rise to 1.5 degrees Celsius.
Science
SpaceX Starship, world’s biggest rocket, explodes during first flight test
Starship, the most powerful rocket ever built, exploded during its first flight, but Elon Musk congratulated his SpaceX team on...
- The Starship spacecraft that will eventually carry crew and cargo had been scheduled to separate from the first-stage rocket booster three minutes into the flight.
- Despite the failure to complete the full 90-minute flight test and reach orbit, SpaceX and Musk, the founder and CEO of the private space company, declared it a success.
Economy
WTO, WBG, WEF launch scheme for trade, climate mitigation efforts
GENEVA, SWITZERLAND - The World Trade Organization (WTO), the World Bank Group (WBG) and the World Economic Forum (WEF) on...
- The initiative Action on Climate and Trade (ACT) . which starts with a pilot phase, will focus on working with participating developing economies.
- ACT will provide participating economies with tailored insights so that they can plan for the impacts of climate change on trade.
Market Report
Stocks mixed, dollar firms on rate-hike fears
Stock markets traded mixed as last week's optimism gave way to worries that central banks may wait longer than expected...
- The dollar firmed on prospects of more US rate-tightening and oil prices slipped.
- Cooler inflation is said to have eased the pressure on the European Central Bank.
Geostrategy
WFP stops Sudan operation after three members killed in violence
The UN's food agency said it was suspending work in Sudan after three staff were killed in the Darfur region,...
- "While we review the evolving security situation, we are forced to temporarily halt all operations in Sudan," said a WFP official.
- Fighting in Sudan raged for a second day in battles between rival generals who seized power in a 2021 coup.
Geostrategy
Arab nations gather to discuss ending Syria’s long isolation
Arab countries gathered in Jeddah on Friday to discuss ending Syria's long spell in the diplomatic wilderness as regional relations...
- The Jeddah meeting is one of a flurry of initiatives following Saudi Arabia and Iran's landmark announcement on March 10 that they would resume ties.
- Although the Arab League takes decisions by consensus, unanimous agreement is unlikely, said a Riyadh-based diplomat who declined to be identified.
Economy
UAE minister stresses G20 and COP28 collaboration at WBG meet
The members also exchanged views on progressing the implementation of Multilateral Convention to Implement Tax Treaty Related Measures to Prevent...
- Mohamed Hadi Al Hussaini, Minister of State for Financial Affairs, led the UAE delegation at the meeting, held on the sidelines of the 2023 Spring Meetings.
- Ministers of Finance and Central Bank Governors from G20 member countries, invited countries, and international organizations attended the meeting.
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
Company News
Russian oil price cap partially successful
Geostrategy
Latest News
Mumtalakat, Investcorp ink pact
Business
Top global leaders to attend WEF meet amid Gaza, Ukraine war
Paris, France - US Secretary of State Antony Blinken, Israeli President Isaac Herzog and Middle East leaders will attend a World...
Geostrategy
UAE economy likely to grow by 3.8 percent in 2025, says World Bank
WASHINGTON, US - The World Bank expected the UAE's real GDP to grow by 3.4 percent in 2023, rising to...
Economy
2023 hottest recorded year as Earth nears critical threshold
PARIS, FRANCE - The year of 2023 was the hottest on record, with the increase in Earth's surface temperature nearly crossing...
Geostrategy
Most Read
Business
Resilient supply chains are essential to global trade: Expert
DUBAI, UAE – For over 30 years, globalization has been the evergreen megatrend as global trade has helped lift some...
- The COVID-19 pandemic highlighted the critical role of resilient supply chains in sustaining economies worldwide to the forefront.
- Wars, armed conflicts, overall increasing geopolitical tensions, and protectionism create serious headwinds for global trade.
Business
Utilizing AI is only possible if skill gap is bridged, says expert
DUBAI, UAE - The Artificial Intelligence (AI) revolution is upon us, with AI becoming a pervasive force in our daily...
- As the rate of AI adoption increases, humans are essential to guiding the technology’s implementation and usage of these technologies.
- Executives estimate that up to 40 percent of their workforce may need to reskill as a result of implementing AI or automation over the next three years.
Geostrategy
Turkish Airlines grounds Boeing 737 MAX 9 jets amid inspection orders
Turkish Airlines said that it would stop flying five Boeing 737 MAX 9 jets in its fleet even as the...
- The Alaska Airlines scare prompted the US Federal Aviation Administration to order immediate inspections of around 171 of the jets operated worldwide.
- Boeing has so far delivered about 218 of the 737 MAX planes worldwide, the company said.