UN agency exhorts Israel to allow port for Gaza aid transfer
Rome, Italy - The UN's food agency on Thursday said it was pressing Israel to allow it to use the Ashdod...
Geostrategy
UNRWA head seeks General Assembly support after backlash
The head of the UNRWA is set to defend his organization's work at the General Assembly, after crippling backlash over...
Geostrategy
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.
UN agency exhorts Israel to allow port for Gaza aid transfer
Rome, Italy - The UN's food agency on Thursday said it was pressing Israel to allow it to use the Ashdod...
Geostrategy
Company News
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UN calls for overhaul of financial system to help poorest countries
The UN called for an overhaul of the global financial system to help the world's poorest countries and their struggle...
Geostrategy
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...
Business
Fertiglobe Q3 revenue of $525m
The firm recently launched steps to optimize its cost structure.
Business
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Economy
$10 trn of ‘hidden costs’ on food and agriculture system per year, says UN
Paris, France - The food and agriculture system adds at least $10 trillion in "hidden costs" to the global economy every...
- The Food and Agriculture Organization said it conducted an analysis in 154 countries to determine the "true" cost of the agrifood system.
- The global quantified hidden costs totaled around $12.7 trillion in 2020, representing almost 10 percent of the global gross domestic product.
Geostrategy
Russia calls for collective action to end fighting between Israel, Hamas
Russia called for "collective action" to end fighting between Israel and Hamas, including an international conference, almost a month into...
- Russia maintains ties with both Hamas and Israel and has said it can mediate the conflict.
- Russia supports calls for collective action to de-escalate the situation in the Middle East and that it was in favour of a “multilateral approach” in regulating the conflict.
Geostrategy
Arab ministers meet in Jordan, seek resolution to Gaza conflict
AMMAN, JORDAN – Foreign ministers from key Arab nations – including Saudi Arabia, the United Arab Emirates, Egypt, Qatar, and...
- The summit with Arab diplomats reinforced their collective call for an end to the aggression against Gaza.
- It emphasized the international community's role in stopping military operations and the bloodshed of civilians.