US President orders military to set up a port in Gaza for aid, say officials
President Joe Biden will tell Congress that he has ordered the US military to set up a port in Gaza...
Geostrategy
Western countries shelve plans to censure Iran at UN nuclear meet
Western powers will not censure Iran over its lack of cooperation with the UN nuclear watchdog at its Board of...
Geostrategy
Business
Crypto scams give law enforcement agencies tough time
US federal agencies have often concentrated on headline-grabbing suspects like Heather Morgan, an amateur rapper nicknamed "Razzlekhan" who was charged...
- With Washington and Brussels focused on high-value targets, victims of low-level fraud are often left high and dry
- If decentralized crypto networks revolutionize finance, US politicians would no longer be able to project power in the way they do now with dollar
Geostrategy
EU seeks new sanctions on Iran for drones supply to Russia
The hardening EU stance towards Tehran appeared to bury deeper hopes of reviving a 2015 Iran nuclear deal, which has...
- EU diplomats said there was work under way on Wednesday to draw up a list of Iranian individuals and entities linked to the drones.
- Ukraine has for weeks been accusing Iran of supplying Russia with Shahed-136 drones -- unmanned aircraft equipped with a warhead.
Market Report
Markets climb on bright US earnings, UK policy U-turns
Major global equities rose, with sentiment soothed after upbeat US earnings and Britain shredded its controversial budget. Analysts pointed to...
- US industrial production also picked up more than anticipated in September, according to official data.
- On Wall Street, the Dow Jones jumped two percent at the open after a day of strong trading in Asia and Europe, before paring back gains later in the morning.
Geostrategy
UAE, Chile ink pact to exchange knowledge on energy sector
UAE's Ministry of Energy and Infrastructure signed a Memorandum of Understanding with its counterpart in Chile to exchange knowledge and...
- Under the agreement UAE and Chile will exchange information, knowledge and expertise, hold high-level meetings to discuss issues.
- The two sides will organise relevant academic research and enhance their cooperation in clean and renewable energy.
Geostrategy
Oil depot hit and on fire in Russia’s Belgorod, says governor
An oil depot in Russia's Belgorod region bordering Ukraine is on fire after being shelled, the governor said, as strikes...
- One of the shells hit the oil depot in the Belgorod region, regional governor Vyacheslav Gladkov said.
- State-run news agency TASS cited a source in the emergency services saying the burning depot was located in the village of Razumnoye-71
Economy
WFP calls for action to avoid another year of record hunger
UAE Minister of Climate Change and the Environment Mariam bint Mohammed Almheiri said that the crises facing the world today...
- The UAE has launched the Agriculture Innovation Mission for Climate (AIM for Climate) in partnership with the US.
- The objective is to raise investments worth US$8 billion in sustainable and climate-smart agrifood systems based on modern technologies.
Economy
54 poor nations urgently need debt relief: UN
The agency's report, published ahead of meetings of International Monetary Fund, the World Bank, and also of G20 finance ministers...
- The UNDP warned that dozens of developing nations were facing a rapidly deepening debt crisis and that the risks of inaction are dire.
- The UN agency said debt troubles had been brewing in many of the affected countries long before the Covid-19 pandemic hit
Economy
Oxfam says world failing to address ‘dangerous’ inequality
The UN and Oxfam have previously decried the unequal distribution of vaccines from richer Western countries to lower-income ones, particularly...
- Oxfam also found that two-thirds of countries failed to increase their minimum wage in line with gross domestic product
- It delivered a withering criticism of most nations, arguing that the pandemic should have been a "wake-up call" to act on poverty in general
Interview
Sustainability key focus of GCC automotive industry
Current trends in the automotive sector such as zero-emission vehicles and carbon-neutral manufacturing demonstrate the growing importance of sustainability, says...
- BMW Group is placing sustainability at the center of their strategic direction across all divisions, says a key BMW Group Middle East official
- By 2030, BMW will release around 10 million fully electric vehicles onto the roads, adds Hamid Haqparwar, Managing Director at BMW Group Middle East
Science
‘Heatwave to make human life unsustainable in certain areas’
GENEVA, SWITZERLAND - Heatwaves will become so extreme in certain regions of the world within decades that human life there...
- Heatwaves are predicted to "exceed human physiological and social limits" in the Sahel, the Horn of Africa and south and southwest Asia.
- "There are clear limits beyond which people exposed to extreme heat and humidity cannot survive," a report by the UN and Red Cross said.
US President orders military to set up a port in Gaza for aid, say officials
President Joe Biden will tell Congress that he has ordered the US military to set up a port in Gaza...
Geostrategy
Company News
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Arab, Muslim leaders summit condemns Israel over Gaza offensive
Arab and Muslim leaders condemned Israeli forces' "barbaric" actions in Gaza but declined to approve punitive economic and political steps...
Geostrategy
Israel faces global calls to protect civilians in Gaza
The suffering and death in Gaza has prompted growing calls for a halt in five weeks of fighting in order...
Geostrategy
European Euclid space telescope unveils first images
Darmstadt, Germany - The first images from Europe's Euclid space telescope were released on Tuesday, showing a nebula resembling a horse's...
Science
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Business
Record number of patent applications filed globally in 2022, says WIPO
GENEVA, SWITZERLAND - Global patenting activity soared to new records in 2022, fueled by Indian and Chinese innovators, but an...
- China, the US, Japan, Republic of Korea and Germany were the countries with the highest numbers of patent filings in 2022.
- innovators from around the world submitted 3.46 million patent applications in 2022, marking a third consecutive year of growth.
Business
Fertiglobe Q3 revenue of $525m
The firm recently launched steps to optimize its cost structure.
- In the third quarter, nitrogen prices reflected tighter market balances due to record low inventory levels.
- In the medium to longer term, the nitrogen outlook is favorable, with limited supply additions over the next several years.
Market Report
Stocks extend global rally as US jobs data cements rate hopes
Hong Kong, China - Markets rallied again Monday following another strong performance on Wall Street, as below-forecast US jobs data fanned...
- All three main indexes on Wall Street jumped Friday after the jobs reading, which also fueled bets on an interest rate cut by June.
- Asian markets tracked the rally in New York, with Tokyo more than two percent higher, while Hong Kong, Wellington, Manila and Jakarta were up more than one percent