Iran launches imaging satellite Pars 1 from Russia
Iran announced the launch of a remote sensing and imaging satellite into orbit from Russia, according to state media. The...
Geostrategy
WTO launches US$50m fund for women entrepreneurs in developing countries
ABU DHABI, UAE - The director general of the World Trade Organization, Ngozi Okonjo-Iweala, on Sunday launched a $50 million fund...
Geostrategy
Business
US stocks rise on strong retail sales, positive Citigroup results
Wall Street stocks rose early Friday as markets cheered unexpectedly strong US retail sales and better-than-expected results from Citigroup. After...
- About 35 minutes into trading, the Dow Jones Industrial Average was up 1.5 percent at 31,074.83.
- Among individual companies, Citigroup surged 7.8 percent after reporting better-than-expected earnings.
Economy
G20 finance ministers, top bankers warn of energy crisis
Other issues to be tackled by the ministers include digital financial inclusion –- with more than a billion of the...
- The two-day meeting on the resort island of Bali started under the shadow of a war that has roiled markets, spiked food prices
- Top global finance figures, including US Treasury Secretary Janet Yellen, will discuss the rebound from the coronavirus pandemic
Geostrategy
Biden holds joint investment talks with UAE, Israel and India
US President Joe Biden held joint investment talks Thursday with Israel, India and the United Arab Emirates, as Washington seeks...
- The multilateral summit was convened in Jerusalem where Biden is on his first Middle East tour as president.
- During the summit the UAE announced it would invest 2 million euros (dollars) in agricultural projects in India.
Geostrategy
US pledges to stop Iran from making nuclear weapons
The US will use "all elements of its national power" to stop Iran from acquiring nuclear weapons, President Joe Biden...
- The United States "is prepared to use all elements of its national power to ensure that outcome", said US President Joe Biden.
- Israel Prime Minister Lapid has said that countering Iran would be the "foremost" issue during bilateral talks.
Economy
European stocks fall on fears of aggressive Fed interest rate hike
Europe's main stock markets slid at the open on Thursday, as a fresh spike in US inflation reinforced expectations of...
- In initial deals, London's FTSE 100 index lost 0.3 percent to 7,138.54 points compared with the closing level on Wednesday.
- In the eurozone, Frankfurt's DAX index slid 0.2 percent to 12,733.34 points and the Paris CAC 40 shed 0.4 percent to 5,977.05.
Business
Twitter down for short period in US, Europe, restored later
Twitter experienced a widespread but seemingly brief outage in the United States and parts of Europe on Thursday. The Downdetector...
- The Downdetector website showed that outage reports spiked in the United States around 1200 GMT and by around 1245 GMT reports of outages to Downdetector were dropping off
- Short term service disruptions on social media platforms happen periodically while long-term service outages on social media platforms are not common
Interview
GCC expects moderate impact of global recession
The region is better placed to deal with global slowdown as oil and gas prices will stay high due to...
- The region is better placed to deal with global slowdown as oil and gas prices will stay high due to supply restrictions, Jean Claus, CEO of Allianz Trade Middle East, tells TRENDS
- Regional GDP growth is expected to be +2.7 percent in 2023 in an 'adverse scenario', slightly lower than the +3.1 percent expected in the baseline scenario, Claus adds
Economy
France to proceed with second phase of digital euro experiment : Central Bank
France's central bank said Tuesday it will push ahead with the second phase of its experiment with a digital euro...
- Last year, the Banque de France successfully completed the first stage of its experiment with a central bank digital currency.
- The experiment is aimed at rolling out the cryptocurrency next year.
Economy
Euro strikes parity with Dollar for first time in nearly 20 years
The euro struck parity with the dollar Tuesday for the first time in nearly 20 years as a cut in...
- Oil prices meanwhile fell heavily on concerns of a wider recession as central banks hike interest rates to fight decades-high inflation.
- European stock markets fell approaching the half-way mark and in the wake of overnight losses in Asia and on Wall Street.
Business
Middle East airlines’ traffic rises more than 300 percent in May 2022: IATA
The International Air Transport Association (IATA) said the Middle Eastern airlines’ traffic rose 317.2 percent in May compared to May...
- IATA announced passenger data for May 2022 showing that the May capacity rose 115.7 percent.
- Global traffic is now at 68.7 percent of pre-crisis levels as it rose 325.8 percent versus May 2021.
Iran launches imaging satellite Pars 1 from Russia
Iran announced the launch of a remote sensing and imaging satellite into orbit from Russia, according to state media. The...
Geostrategy
Company News
Spanish footballer Veiga to play for Saudi club Al Ahli
Arts & Culture
Latest News
Countries evacuate citizens as Israel-Hamas war rages
Thousands of foreigners are stuck in Israel and across the Palestinian territories, where a full-blown war has erupted since Hamas...
Geostrategy
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...
Economy
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...
Geostrategy
Most Read
Economy
FAO raises its forecast for global cereal production in 2023
ROME, ITALY - The Food and Agriculture Organization of the United Nations (FAO) raised its forecast for global cereal production...
- The higher forecast is almost entirely based on recent and more positive yield estimates for the Russian Federation and Ukraine.
- There will be increased wheat consumption while global rice utilization is forecast at 520.5 million tons.
Science
Drought caused major global hydropower drop in early 2023
BANGKOK, THAILAND - Dry conditions, particularly in China, caused a "historic" global drop in hydropower in the first half of 2023,...
- Wind and solar generation grew more slowly in the first half of this year than in the same period last year.
- The chief of this year's COP climate meeting has called for a global tripling of renewable energy capacity by 2030.
Geostrategy
Saudi Arabia to enhance air connectivity to over 250 destinations by 2030
RIO DE JANEIRO, BRAZIL - A delegation led by President of the General Authority of Civil Aviation (GACA) Abdulaziz bin...
- The Kingdom plans on carrying 330 million passengers annually and raising freight capacity to 4.5 million tons by 2030.
- Saudi Arabia and the Dominican Republic also signed agreements on air transport services between the two countries.