Israeli forces kill Jordanian in West Bank, says Palestinian ministry
A Jordanian citizen has died after being shot by Israeli forces in the West Bank, Palestinian authorities said, with the...
Geostrategy
GASTAT adopts chain-linking method to calculate Saudi Arabia’s real GDP
RIYADH, SAUDI ARABIA – The General Authority for Statistics (GASTAT) said in a press release it issued on Sunday that...
Economy
Economy
US hiring eases in March as economy shows signs of cooling
US job gains eased in March for a second straight month, government data showed, adding to signs that the economy...
- The figures could bring some relief to policymakers who have been battling to rein in stubborn inflation.
- To ease demand, the Federal Reserve has lifted the benchmark lending rate nine times since early last year.
Economy
World food prices fall for 12 consecutive months, says UN
World food prices are still high but have fallen by a fifth compared to a year ago when prices soared...
- FAO said the fall in benchmark prices was "driven by declines in world quotations for cereals and vegetable oils."
- The UN agency added that food remained expensive for developing countries highly dependent on imports.
Geostrategy
French foreign minister has rare meeting with Iranian counterpart in China
France's foreign minister has held a rare face-to-face meeting with her Iranian counterpart in China, urging Tehran to release French...
- Foreign minister Amir-Abdollohian was leading the Iranian delegation in separate reconciliation talks in Beijing between Iran and Saudi Arabia.
- Contacts between Iran and European powers have reduced over Tehran's deadly crackdown on the protest movement that erupted in September.
Economy
‘Global growth to fall below 3 percent in 2023’
A continued slowdown in almost all the world's advanced economies is expected to drag global growth below three percent this...
- Global growth almost halved last year to 3.4 percent as the impact of Russia's invasion of Ukraine rippled through the world economy.
- Asia's emerging markets are expected to see substantial increases in economic output with India and China to account for half of all growth.
Economy
WTO sees 2023 global trade growth at 1.7 percent
The World Trade Organization said 2023 global trade growth would be slightly better than feared, but would remain "subpar", weighed...
- The forecast was slightly better than feared last October, when the WTO projected 2023 trade growth would be as low as one percent.
- The organization's economists also estimated that real global GDP growth at market exchange rates would be 2.4 percent this year.
Business
Red Cross to cut 1,500 jobs over funding crunch
GENEVA, SWITZERLAND - The Red Cross announced Tuesday that it would cut 1,500 jobs over the next 12 months in a...
- The Red Cross said an expected drop in humanitarian assistance budgets over the next two years was forcing it to make significant cuts.
- The Geneva-based organization said its governing board on March 30 had approved US$474 million in global cost reduction through early 2024.
Science
WMO urges more investment in integrated weather, climate services
GENEVA, SWITZERLAND - The global transition to renewable energy will require greater investment in integrated weather and climate services, the...
- This investment is critical to ensure that energy infrastructure is resilient to climate-related shocks.
- WMO is stepping up its activities to promote tailored weather and climate information, and forecasts.
Geostrategy
Oil cuts in interest of energy markets, says Russia
The Kremlin said oil output cuts by Russia, Saudi Arabia and other major producers that have caused prices to soar...
- Saudi Arabia and other major oil producers announced Sunday a production cut of more than one million barrels per day.
- Russia said it would extend until the end of the year its own voluntary production cut of 500,000 barrels per day.
Economy
EU bloc records highest ever trade deficit in 2022
BRUSSELS, BELGIUM - The EU trade in goods registered a large deficit of US$469 billion (€432 billion) in 2022, reaching...
- The deficit was due, in particular, to a steep rise in the value of energy imports, which started towards the end of 2021 and continued through most of 2022.
- Also in 2022, non-EU imports (+41 percent) and exports (+18 percent) reached their highest year-on-year growth rates recorded over the last 10 years.
Science
WTO 2023 to put spotlight on trade role in sustainable future
GENEVA, SWITZERLAND - The WTO’s annual Public Forum 2023 will focus this year on how trade can contribute to a...
- The Forum will examine in particular how the services sector, digitalization and inclusive trade policies can support global environmental goals.
- Sessions at the Public Forum are organized by representatives from civil society, academia, business, government and international organizations.
Israeli forces kill Jordanian in West Bank, says Palestinian ministry
A Jordanian citizen has died after being shot by Israeli forces in the West Bank, Palestinian authorities said, with the...
Geostrategy
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UNSC committee adopts guiding principles on use of UAS for terrorist purposes
NEW YORK, US – The Counter-Terrorism Committee (CTC) of the UN Security Council adopted the "Abu Dhabi Guiding Principles" and...
Geostrategy
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...
YEARBOOK 2023
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...
Geostrategy
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Geostrategy
WHO urges pandemic plans as ‘painful’ Covid ends
Geneva, Switzerland - The head of the WHO said on Tuesday the world needs to properly prepare for future pandemics after...
- WHO head urged nations to seal a "monumental" pandemic accord to plug preparedness gaps that were exposed during the pandemic.
- Tedros said that in terms of emergency preparedness and response, gaps remain in the world's readiness to prevent the next pandemic.
Business
US bans import of Apple Watch due to patent clash
A US import ban on certain Apple smartwatch models came into effect, after the Biden administration opted not to veto...
- Apple last week paused its US sales of Apple Watch Series 9 and Apple Watch Ultra 2.
- The move came into effect on the online Apple Store on December 21, with retail locations ceasing sales December 24.
Geostrategy
Russia extends ban on entry of trucks from EU, UK, Norway, Ukraine
MOSCOW, RUSSIA - The Russian government has extended the ban on the entry of trucks from the European Union, the...
- “The restriction will remain in effect until the circumstances that served as the basis for its introduction are eliminated,” the Russian Cabinet said.
- The ban was introduced in 2022 as a response to the EU’s decision not to allow trucks with Russian and Belarusian license plates through.