Trump said he won’t ‘give a penny’ to Ukraine, claims Hungary Prime Minister
BUDAPEST, HUNGARY – Hungary's Prime Minister Viktor Orban has asserted that former US president Donald Trump told him during a meeting...
Geostrategy
Thousands rally in London seeking a truce in Gaza
London, UK - Thousands of protesters marched in central London on Saturday to call for a ceasefire in Gaza amid ongoing...
Geostrategy
Science
Global warming rising at alarming rate, says UN
Greenhouse gases accounting for over 95 percent of warming are at record levels, with methane showing the largest one-year jump...
- Earth has warmed more than 1.1 degrees Celsius since the late 19th century, with roughly half of that increase occurring in the past 30 years.
- Driven by melting ice sheets and glaciers, the pace of sea level rise doubled in the past 30 years, threatening millions in low-lying coastal areas.
Science
‘UAE to reveal implementation map of Net Zero 2050 at COP27’
Minister of Climate Change and the Environment Mariam bint Mohammed Almheiri said the UAE’s participation in the 27th session of...
- A UAE minister said the COP27 focuses on financing and ensuring equitable participation of developing countries in climate action efforts.
- She said the UAE will invite the world to participate in the efforts to spread and use renewable energy.
Science
COP27 must shift from talk to action says UN climate chief
The upcoming COP27 climate summit in Egypt must mark a leap from the process of hammering out a treaty to...
- Diplomats from nearly 200 countries are gathering in the Red Sea resort for the November 6-18 conference.
- The US and the European Union - fearful of creating an open-ended reparations framework - have dragged their feet.
Geostrategy
World food prices hold steady in October, says FAO
World food prices held steady in October, though cereal prices rose over uncertainty of a deal giving safe passage for...
- FAO said its price index averaged 135.9 points in October, marginally lower from September.
- Wheat prices were up 3.2 percent, mostly reflecting continued uncertainties related to the Black Sea Grain Initiative, the UN body said.
Business
BMW Q3 net profit US$3.1bn
Profit was due to high demand for pricier luxury models.
- Car deliveries were down nearly one percent over the period as the industry continues to grapple with supply chain disruptions.
- BMW said higher prices for its premium vehicles had helped deliver a solid third quarter.
Geostrategy
Restoring banned Twitter accounts may take some weeks: Elon Musk
Twitter users have been watching closely to see whether Musk will reinstate Trump, banned for inciting last year's attack on...
- Since Musk takeover on Twitter, Trump has suggested that he would be sticking with his own Truth Social messaging platform rather than going back to Twitter.
- The new Twitter boss said he had talked to civil society leaders about how Twitter will continue to combat hate and harassment and enforce its election integrity policies.
Geostrategy
UAE Minister, IMF Director discuss challenges facing MENA
UAE Minister of State for Financial Affairs Mohamed Hadi Al Hussaini met with Director of the Middle East and Central...
- The minister underscored the importance of the IMF in enhancing the safety of the global economy.
- He said that the IMF helps in creating a stable financial environment, especially in light of the exceptional circumstances the world is facing.
Market Report
Global stocks rise on Fed optimism, zero-Covid China policy reports
Global stock markets rose as traders looked to the US Federal Reserve's interest rate decision hoping it will signal a...
- Recent reports have suggested officials are looking to dial down the pace of increases, which has sparked a rally in risk assets over the past week.
- Positive results from multinational firms also helped lift equities.
Economy
UAE-US partnership to spur $100 bn clean-energy financing, development
The Partnership for Accelerating Clean Energy will see the two countries develop, finance and deploy clean projects in the US,...
- UAE Special Envoy for Climate Change Dr. Sultan Al Jaber and Special Presidential Coordinator Amos Hochstein signed the partnership at ADIPEC.
- They will accelerate investment in fossil fuel emissions mitigation; further develop CCUS technologies and advance methane measurement and management.
Economy
ILO says global crises will lead to a fall in labor market
The war raging in Ukraine and other overlapping crises are taking a toll on labor markets worldwide, the UN said,...
- In a fresh report, the International Labor Organization cautioned that the outlook for global labor markets has deteriorated in recent months.
- It also warned that excessive policy tightening could cause "undue damage to jobs and incomes in both advanced and developing countries."
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Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
Trump said he won’t ‘give a penny’ to Ukraine, claims Hungary Prime Minister
BUDAPEST, HUNGARY – Hungary's Prime Minister Viktor Orban has asserted that former US president Donald Trump told him during a meeting...
Geostrategy
Company News
Latest News
EDB commits US$350m for renewable energy projects in developing countries
ABU DHABI, UAE - Emirates Development Bank (EDB) has committed US$350 million (AED 1.3 billion) to support the Energy Transition Accelerator...
Business
Hamas frees more captives in Gaza as truce extension mooted
Hamas released a third group of hostages including a four-year-old American girl with more Palestinian prisoners set to be freed...
Geostrategy
Every industry should be held accountable on climate, says COP28 president
Paris, France - The president of a pivotal UN climate summit defended on Saturday the large presence of industry representatives at...
Geostrategy
Most Read
Science
WHO says misuse of antibiotics undermining efficacy
Copenhagen, Denmark - Misuse of antibiotics is denting their efficacy and spawning resistant bacteria which could be responsible for 10 million...
- WHO warned that without immediate intervention, resistance to antimicrobials -- which includes antibiotics -- could lead to up to 10 million deaths a year by 2050
- It cited incorrect prescription as a "cause for concern," adding that in all the 14 countries, a third of the roughly 8,200 people surveyed had taken antibiotics without advice
Economy
Tax havens only half the story, says OECD
Paris, France - Tax havens are blamed for lower public revenues elsewhere as they lure away multinational firms but a study...
- Half the profits booked by multinationals benefitting from low tax rates were from countries that have high rates but offer various tax breaks to attract investments.
- "Many jurisdictions typically considered (to be) 'high tax' offer various incentives which can lead to substantially reduced tax rates," said the report further.
Geostrategy
Fishing nations pledge to protect sharks, rays
CAIRO, EGYPT - Atlantic fishing nations have agreed to better protect sharks and rays by limiting the retention of several bycatch...
- Sharks and rays are facing what conservationists have called an extinction crisis, with nearly two thirds of coral reef species at risk.
- Sharks and rays must be better protected by governments and fisheries said an advocacy coalition advancing conservation policies.