WTO ministers struggle to forge deals as talks go into overtime
ABU DHABI, UAE – World trade ministers were locked in disagreement Thursday on fisheries subsidies, agriculture and digital customs duties as...
Geostrategy
Spanish footballer Veiga to play for Saudi club Al Ahli
Arts & Culture
Business
Rolls-Royce picks new CEO
Tufan Erginbilgic replaces Warren East from the start of 2023.
- East is stepping down after a tumultuous eight years in the top role during which time he turned around performance and slashed thousands of jobs.
- Erginbilgic left the British energy major in 2020 and is a partner at private equity firm Global Infrastructure Partners.
Geostrategy
EU agrees to reduce gas consumption by 15 percent
The usage is reduced to counter the dependency on Russian gas supplies.
- Russian gas giant Gazprom will slash supplies to Europe from Wednesday, threatening economies like Germany.
- 27 European Union members have imposed economic sanctions on Russia to punish it for its invasion of Ukraine.
Business
Natural gas a weapon of war between Russia and Europe
Natural gas has emerged as a weapon of war between Russia and Europe since Moscow's February 24 invasion of Ukraine....
- On February 22, 2022, German Chancellor Olaf Scholz says he is suspending the Nord Stream 2 pipeline project with Russia.
- On March 23, Russian President Vladimir Putin bans European gas customers from paying their bills in dollars and euros.
Business
French, UK satellite firms eye tie-up to create ‘global champion’
French satellite operator Eutelsat said on Monday it was in talks with British counterpart OneWeb for a tie-up to create...
- French satellite operator Eutelsat already provides some internet services through a deal with telecoms firm Orange.
- "Potential all-share combination" would "create a global leader in connectivity", Eutelsat said.
Business
African Union lauds Russia for allowing Kyiv to resume grain export
Ukraine and Russia and two of the world's largest grain producers.
- Ukraine's farms are major source of grain for world market, particularly in Middle East and Africa.
- Cereal prices in Africa have surged because of the slump in exports due to Russia-Ukraine war.
Economy
Global electricity demand slowing sharply: IEA
The agency said renewable sources of energy were growing faster than demand and replacing fossil fuels.
- The agency said renewable sources of energy were growing faster than demand and replacing fossil fuels
- The IEA said that Europe was gearing up to reduce its reliance on Russian fossil fuel imports by accelerating its clean energy transition
Science
Are EVs driving towards greener world or uncertainty?
Studies suggest the electric vehicles may not eliminate all emissions even by 2050, particularly those related to mining and battery...
- Recent studies suggest the electric vehicles may not eliminate all emissions even by 2050, particularly those related to mining and battery production.
- Wider adoption of EVs will hinge on affordability which, in turn, is reliant on battery production and robust charging infrastructure
Business
Boeing wins $8 bn contract
The US planemaker will manufacture 66 MAX aircraft.
- The deal comprises a firm order for 30 medium-haul single-aisle 737 MAX-8-200s plus options to purchase up to 36 more from the same family.
- The MAX jet suffered two deadly crashes in 2018 and 2019, but is experiencing a rush of interest at this year's Farnborough, southwest of London.
Science
Saudi Arabia signs Artemis Accords for space exploration
Saudi Arabia announced joining Artemis Accords, affirming its commitment to sustainable space exploration guided by a common set of principles...
- Saudi Arabia is the 21st country and the fourth Middle Eastern nation to join the Accords
- Artemis relies on an international coalition to achieve a historic vision for space exploration
Business
EU car sales down 14 percent in H1 as supply shortages persist
EU auto sales slumped by 14 percent in the first half of this year, data showed Friday, as supply shortages...
- With the lack of computer chips still hobbling production, new auto sales slumped to 4.6 million in the European Union.
- Sales in Italy tumbled by 22.7 percent, by 16.3 percent in France, 11 percent in Germany and 10.7 percent in Spain.
WTO ministers struggle to forge deals as talks go into overtime
ABU DHABI, UAE – World trade ministers were locked in disagreement Thursday on fisheries subsidies, agriculture and digital customs duties as...
Geostrategy
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Spanish footballer Veiga to play for Saudi club Al Ahli
Arts & Culture
Iran says US ‘can not renege’ on deal to transfer $6bn via Qatar
Tehran, Iran-- Iran said the United States "can not renege" on an agreement to transfer $6 billion in frozen funds through...
Disasters cause crop losses worth $3.8trn over 30 years, says FAO
PARIS, FRANCE - Natural and man-made disasters have caused $3.8 trillion in crop and livestock loses over 30 years, the UN's...
Economy
Delta posts Q3 profits of $1.1b Â
The company’s revenues rose 11 percent to $15.5 billion.
Business
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Economy
World economy resilient, says IMF; keeps growth forecast unchanged
The IMF kept its 2023 global growth forecast unchanged but warned that the economy is "limping along" as inflation remains...
- Inflation, which has fallen sharply since last year, is predicted to remain elevated at 6.9 percent this year.
- Central banks across the globe have raised interest rates sharply in efforts to contain inflation.
Geostrategy
Israel imposes total siege on Gaza after Hamas attack
Israel imposed a total siege on the Gaza Strip and cut off the water supply as it kept bombing targets...
- Israeli Prime Minister Benjamin Netanyahu threatened that "what Hamas will experience will be difficult and terrible ... We are going to change the Middle East."
- Israel said it had called up 300,000 army reservists for its "Swords of Iron" campaign.
Business
Dubai at top global ranking for attracting Greenfield FDI projects in H1 2023
DUBAI, UAE - Dubai remains the top global destination for attracting Greenfield Foreign Direct Investment (FDI) projects, with the emirate...
- During the first half of 2023, Dubai’s global share in the attraction of Greenfield FDI projects stood at 6.58 percent.
- The results align the Dubai Economic Agenda D33, which aims to double the size of the emirate’s economy over the next decade.