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
Aid boat ready to set sail from Cyprus for Gaza
A boat laden with food for Palestinians in war-ravaged Gaza was "ready" to set sail from Cyprus, an NGO said,...
Geostrategy
Market Report
Stocks sink globally as central banks hike rates, data fan recession fears
Global stocks sank as central banks hiked interest rates again and signaled they needed to go higher to tame inflation....
- ECB president Christine Lagarde warned that inflation in the 19-nation eurozone was still "far too high" and more action needed to be taken.
- The world's major central banks are seeking to dampen red-hot inflation.
Geostrategy
Palestinians say World Cup proves their cause not ‘buried’
Like several other Arab nations, Morocco has agreed full diplomatic ties with Israel -- but this has not stopped its...
- A Palestinian poll group has said that "the World Cup in Qatar helps restore Palestinian public trust in the Arab world after years of disappointment".
- "The Moroccan festivities at the World Cup have proven that the Arab world is far from normalization with Israel", the Israeli newspaper Maariv said in a commentary on Sunday.
Arts & Culture
Morocco down Portugal to become first ever African World Cup semi-finalists
Morocco became the first African nation to reach the World Cup semi-finals as Youssef En-Nesyri's first-half goal sealed a tense...
- Morocco took a 42nd-minute lead through En-Nesyri's header as they came on strongly late in the first period.
- Five-time Ballon d'Or winner Ronaldo was sent on early in the second half by coach Fernando Santos.
Geostrategy
IFC, UNHCR to jointly boost private sector engagement for refugees, host communities
GENEVA, SWITZERLAND - The International Finance Corporation (IFC) and UNHCR, the UN Refugee Agency, Friday announced a joint initiative to...
- The initiative aims to mobilize private sector projects over the next five years to demonstrate the viability of investments in forced displacement contexts.
- Forced displacement is a growing crisis that is too large and complex for governments and humanitarian agencies to solve alone.
Market Report
Equities boosted by China news before rate calls
Global stocks rose on China's slowing inflation and economic reopening, alongside hopes of less aggressive interest rate hikes next week....
- Traders were setting their sights also on the release of two key US inflation reports ahead of the Federal Reserve's final policy meeting of the year.
- Investors were meanwhile hopeful that central banks in the United States, eurozone and UK will next week ease the pace of interest rate hikes.
Business
AirAsia branch in Cambodia soon
Venture would start with two aircraft and expand to 15.
- The latest move to reorganize the Malaysia-based firm's network comes after setbacks in recent years.
- The firm's future airlines would also be based in Southeast Asia as it was a familiar region.
Geostrategy
WHO urges malaria funding boost as deaths stay stubbornly high
The World Health Organization called for more funds to help overcome towering challenges in the battle against malaria, which continues...
- A report highlighted significant remaining challenges, including limited donor funding.
- The COVID-19 pandemic has compounded several challenges facing efforts to battle malaria.
Geostrategy
WHO member states agree to develop draft of pandemic accord in early 2023
GENEVA, SWITZERLAND - Member states of the World Health Organisation (WHO) Thursday agreed to develop the first draft of a...
- This zero draft of the pandemic accord, rooted in the WHO Constitution, will be discussed by member states in February 2023.
- The agreement by the Intergovernmental Negotiating Body, comprising WHO’s 194 member states, was a milestone in the global process to learn from the COVID-19 pandemic.
Geostrategy
EU stops import of products which causes deforestation
The European Union reached an agreement to ban the import of products including coffee, cocoa and soy in cases where...
- The draft law, which aims to ensure "deforestation-free supply chains" for the 27-nation EU, was hailed by environmental groups as "groundbreaking".
- The scope encompasses palm oil, cattle, soy, coffee, cocoa, timber and rubber as well as derived products such as beef, furniture and chocolate.
Economy
Developing economies’ debt more than doubled over decade, says World Bank
The external debt of developing economies has more than doubled from a decade ago to US$9 trillion in 2021, the...
- Many countries are already facing or at risk of debt distress with surging global inflation and rising interest rates.
- The external debt of International Development Association countries also nearly tripled in the decade leading up to 2021.
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
Company News
Delta posts Q3 profits of $1.1b
Business
Latest News
50 oil and gas companies pledge to cut operational emission in COP28 meet
DUBAI, UAE - Fifty oil and gas companies representing 40 percent of global production pledged to decarbonize their operations by 2050...
COP28 UAE
US pledges $3bn to a global climate fund at COP28 meet
Developing countries least responsible for climate change are seeking support from richer polluting nations to adapt to the increasingly ferocious...
COP28 UAE
UAE President attends Group of 77 and China meeting at COP28
DUBAI, UAE – At the UN Climate Change Conference (COP28) here, UAE President Sheikh Mohamed bin Zayed Al Nahyan attended...
Geostrategy
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Geostrategy
UAE President announces $30bn Global Climate Fund at COP28 meet
In a groundbreaking announcement at the World Climate Action Summit during the UN Climate Change Conference (COP28), UAE President Sheikh...
- The fund, designed to address the critical gap in climate financing, aims to enable affordable access to climate finance.
- The UAE President highlighted the global urgency of addressing climate change and its pervasive impacts on life.
COP28 puts spotlight on state oil giants
Western energy firms are the usual suspects when it comes to criticism about the sector's role in climate change, but...
- National oil companies, or NOCs, "account for more than half of global production and close to 60 percent of the world's oil and gas reserves," the IEA said
- NOCs and the oil majors - which include BP, Chevron, ExxonMobil, Shell and TotalEnergies - will all be "critical to efforts to achieve net zero" emissions by 2050
Business
Brazil to become OPEC+ member in 2024, says group
Vienna, Austria - Major producer Brazil will join OPEC+ from next year, the oil cartel announced on Thursday.Brazil is among the...
- Brazil's crude production hit a record 3.7 million barrels per day in September, a near 17 percent increase from the same month last year
- OPEC+ was born in late 2016 when Russia and nine others joined forces with the Saudi-led OPEC to prop up falling prices