Apple’s changes contradicts European rules, 34 firms complain
Brussels, Belgium - Changes Apple is making to its services in the European Union "make a mockery" of new antitrust rules...
Business
World resource extraction could surge 60 percent by 2060, UN warns
Paris, France - Extraction of Earth's natural resources could surge 60 percent by 2060, imperiling climate goals and economic prosperity, the...
Economy
Geostrategy
Germany investigates ‘sabotage’ on its rail framework
Rail operator Deutsche Bahn blamed the travel disruptions on "sabotage", while Transport Minister Volker Wissing spoke of "a targeted and...
- Important communications cables were cut at two sites on Saturday, forcing rail services in the north to be halted for three hours.
- Police have said the investigation into Saturday's incident is still wide open and they have not publicly mentioned any suspects.
Business
Google seeks to enhance smartphone credentials with Pixel 7
The device was unveiled this week in Brooklyn, where representatives from the Mountain View, California giant highlighted top-flight features that...
- Priced at $599 in the United States, the Pixel 7 is being positioned as relatively affordable as the latest versions of the iPhone and Samsung Galaxy are both around $800
- The upgraded system also can translate language in real-time, including idioms, and transmit more nuanced photos of different skin tones
Economy
IMF chief urges action as global recession risks rise
IMF chief Kristalina Georgieva urged global policymakers to take concerted action as the risks of a worldwide recession are driven...
- The IMF chief said that if central banks move too aggressively to tamp down price pressures, it could trigger a prolonged economic downturn.
- Finance ministers and central bank governors from over 180 nations will gather in Washington for a meeting of the IMF and WB.
Business
Air travel rebounds but still suffering from pandemic
Air travel rose sharply in the northern hemisphere summer, traditionally the peak vacation travel season, but still remains considerably affected...
- Total air traffic in August soared up by two thirds from the same time last year, but was still only at 73.7 percent of its pre-Covid level.
- Asia experienced the biggest rebound, where traffic more than tripled.
Economy
WTO curtails global trade forecast for 2023 as Ukraine war takes toll
Presenting a revision of their annual trade forecast, WTO economists said they expected the volume of global merchandise trade to...
- "The picture for 2023 has darkened considerably. Today the global economy faces multi-prong crises," said WTO Director-General Ngozi Okonjo-Iweala.
- The WTO said surging energy prices in Europe, stemming from the war in Ukraine, were expected to squeeze household spending and raise manufacturing costs on the continent.
Geostrategy
UAE takes part in G20 Finance Track in Indonesia
UAE's Ministry of Finance (MoF) participated in the third Framework Working Group (FWG) meeting within the G20 Finance Track for...
- The meeting was held in Indonesia and sought to discuss key global economic issues.
- G20 members, invited non-G20 member countries, representatives of the World Bank, IMF, and OECD also attended the meeting.
Geostrategy
Nine NATO nations won’t accept Russia’s annexation in Ukraine
The presidents of the countries issued a joint statement saying they could not "stay silent in the face of the...
- The nine nations are Czech Republic, Estonia, Latvia, Lithuania, Montenegro, North Macedonia, Poland, Romania and Slovakia.
- Their reaction comes two days after Russian President Putin signed treaties to annex four Moscow-occupied regions of Ukraine.
Science
Two-day inaugural RAK Energy Summit to begin on Oct 4
The inaugural RAK Energy Summit, to be held on October 4-5, will feature experts from the energy sector in the...
- The summit will feature experts from the energy sector in the UAE and globally.
- The experts will discuss the challenges the world faces as it moves to cut carbon emissions.
Geostrategy
Dubai fifth globally in UN digital city governance survey 2022
Dubai ranked fifth globally and first in the Arab World in the Local Online Service Index (LOSI) 2022 issued by...
- The latest Local Online Service Index assessed digital governments in major cities across 193 countries.
- Dubai received perfect scores in Institutional Framework, Content Provision and Service Provision, earning it top ranking in these vital indicators.
Economy
WTO chief warns world edging into ‘global recession’
WTO Director-General Ngozi Okonjo-Iweala said Russia's war in Ukraine, the climate crisis, food price and energy shocks plus the aftermath...
- She noted that the World Bank and the International Monetary Fund had both downgraded global growth forecasts, while indicators on trade numbers were "not looking too good".
- She urged central banks to determine whether inflation was being caused by strong demand or whether the rise in prices was linked to structural problems on the supply side.
Apple’s changes contradicts European rules, 34 firms complain
Brussels, Belgium - Changes Apple is making to its services in the European Union "make a mockery" of new antitrust rules...
Business
Company News
ENEC inks MoU with OSGE
Business
Latest News
AI to contribute in enhancing low-emissions development
BONN, GERMANY - Artificial intelligence (AI) can make substantial contributions to climate-resilient and low-emissions development.UN Climate Change’s Initiative on Artificial...
Science
Global energy meet discusses way forward to net-zero emissions
VIENNA, AUSTRIA – High-level representatives from the member states of the United Nations Industrial Development Organization (UNIDO), international organizations, experts...
Science
UN rights body head criticizes rising hate sparked by Israel-Hamas war
The UN human rights chief said that he was absolutely "disgusted" by the "sharp rise in hatred globally" since the...
Geostrategy
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Business
Drought forces Panama Canal operator to cut ship traffic
Panama City, Panama - The operator of the Panama Canal, the passageway for cargo ships between the Atlantic and Pacific oceans,...
- Traffic will be reduced to 25 ships a day from Friday, down from 29, and will drop to 18 ships a day by February, the Panama Canal Authority said
- The 50-mile (80-kilometer) long waterway provides direct access between the Atlantic and Pacific oceans, bypassing the South American continent
Geostrategy
Nordic countries announce deal to strengthen repatriation of refugees
COPENHAGEN, DENMARK - Nordic migration and justice ministers on Tuesday announced a deal to strengthen efforts for migrants to return to...
- Denmark has spearheaded harder lines on migrants in the Nordics and stepped up initiatives to discourage immigration.
- The first of the three initiatives was to increase collaboration between migration attaches responsible for deportation in the Nordic countries.
Business
NMDC, AD Ports Group ink MoU
The firms will continue to work closely on future global projects.
- The agreement is in line with the objectives of UAE’s national strategy for industry and advanced technology.
- The MoU will help the two firms to work together to strengthen the global maritime industry and support the economic growth of the UAE.