US military begins dropping aid into war-torn Gaza
Israel's top ally the United States said it began air-dropping aid into war-ravaged Gaza, as the Hamas-ruled territory's health ministry...
Geostrategy
Hamas says Israeli military action kills 7 hostages in Gaza
Hamas said that seven more hostages seized during its unprecedented attack on southern Israel on October 7 had died because...
Geostrategy
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.
US military begins dropping aid into war-torn Gaza
Israel's top ally the United States said it began air-dropping aid into war-ravaged Gaza, as the Hamas-ruled territory's health ministry...
Geostrategy
Company News
Lavoie buys e-bike firm VanMoof
Business
Latest News
NEOM to set up education, research and innovation center
Arts & Culture
Air Arabia launches non-stop flights between UAE’s Sharjah, Egypt’s Giza
SHARJAH/ ABU DHABI, UAE - Air Arabia announced the launch of a new route operating between Sharjah and Giza city...
Business
PIF announces pricing of inaugural $3.5bn global sukuk issue
RIYADH, SAUDI ARABIA - The Public Investment Fund (PIF) on Thursday successfully priced its first dollar-denominated Shariah-compliant trust certificates (sukuk).The...
Business
Emirati investments in Turkey reach $5.6 billion in 2022
ABU DHABI, UAE – Ahmet Burak Daglioglu, Head of the Investment Office of the Turkish Presidency, said that the cumulative...
Business
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Geostrategy
World leaders try to contain Israel-Hamas war
As Israel prepares for a ground offensive into the Gaza Strip, the international community has mobilized to try to protect...
- Among the most active international players is the United States, whose Secretary of State Antony Blinken started a tour of six Arab countries.
- The US, like its European allies, is concerned to avoid the opening of a second front with the Iran-backed Hezbollah militia in Lebanon.
Geostrategy
Egypt, Israel to allow US citizens to leave Gaza via Rafah crossing
Riyadh, Saudi Arabia - Egypt and Israel have agreed to let US citizens leave the Gaza Strip through the Rafah crossing...
- The official said that 500-600 US citizens in the Gaza Strip had reached out for information on leaving the hemmed in territory.
- US officials earlier had voiced interest in letting people flee to Egypt but backtracked after seeing limited support in the region.
Geostrategy
IMF agrees on rise in funding, extra Africa board seat
The IMF announced member nations agreed to increase their contributions to the global lender and give sub-Saharan Africa a third...
- The quotas, which are based on the size of a country's economy, determine how much funding a nation should provide to the IMF.
- IMF chief Kristalina Georgieva and World Bank President Ajay Banga used this week's meetings to urge members to step up funding.