US President orders military to set up a port in Gaza for aid, say officials
President Joe Biden will tell Congress that he has ordered the US military to set up a port in Gaza...
Geostrategy
Western countries shelve plans to censure Iran at UN nuclear meet
Western powers will not censure Iran over its lack of cooperation with the UN nuclear watchdog at its Board of...
Geostrategy
Economy
France warns companies might have to cut energy use this winter
The French government warned Wednesday that companies might have to reduce energy use this winter even with the country's natural...
- Moscow has slashed its exports to Europe in response to punishing Western sanctions over the invasion of Ukraine by Russian forces.
- France is less reliant on Russian supplies than other EU countries, but its industrial sector still relies on gas and millions of people use it.
Business
Uber posts Q2 loss of $2.6bn
Uber revenue more than doubled to $8.1 billion in Q2. Uber reported better-than-expected revenue in Q2, fueled by strong demand...
- Uber reported better-than-expected revenue in Q2, fueled by strong demand for the San Francisco-based company's ride-hailing and food delivery services
- Revenue more than doubled to $8.1 billion in the three months through June -- a 105 percent increase
Geostrategy
World is a miscalculation away from nuclear annihilation, says UN head
UN head Antonio Guterres warned Monday that the world faced "a nuclear danger not seen since the height of the...
- The UN secretary-general said that humanity is just one misunderstanding, one miscalculation away from nuclear annihilation
- The UN head's comments came at the opening 10th review conference of the NPT, an international treaty that came into force in 1970 to prevent the spread of nuclear weapons
Geostrategy
First grain cargo ship could leave Ukraine port Monday, says Turkey
A spokesman for the Turkish presidency said there was a "high probability" that a first ship carrying Ukrainian grain could...
- The resumption of exports was discussed in talks between the Turkish and Ukrainian defense ministers
- A Joint Coordination Centre is charged with controlling Ukrainian grain exports via the Black Sea
Business
Misses and uncertainty: US tech giants stumble after pandemic boom
As people are freed from pandemic lifestyles that had them relying on the internet for shopping, playing, working and learning,...
- A crowded period of quarterly financial releases from the world's biggest tech firms has been marred by misses and uncertainty.
- Recession fears, strong dollar, shrinking advertising budgets and inflation, headwinds coming from every direction at the moment.
Economy
Saudi economy to be fastest-growing economy in 2022, says IMF
The International Monetary Fund (IMF), in its World Economic Outlook, 2022 said that the Saudi economy will register a 7.6...
- The International Monetary Fund in its World Economic Outlook, 2022 says the Saudi economy will register a 7.6 percent growth rate this year
- Saudi Arabia's expected growth, as per IMF, would be the highest among advanced, emerging market and developing economies
Economy
High energy prices help Russia weather damaging sanctions: IMF
Despite damaging Western sanctions imposed on Moscow in the wake of the invasion of Ukraine, Russia's economy appears to be...
- Sanctions were meant to sever Russia from the global financial system and choke off funds available to Moscow to finance the war.
- International Monetary Fund's latest World Economic Outlook upgraded Russia's GDP estimate for 2022 by 2.5 percentage points.
Economy
Don’t let inflation ‘genie’ out of the bottle: IMF economist
With price surges in major economies approaching 10 percent, central banks must stay the course and continue to raise interest...
- With price surges in major economies approaching 10 percent, central banks must continue to raise interest rates until inflation retreats, the IMF's chief economist said
- Soaring prices for food and fuel, exacerbated by the war in Ukraine, have been squeezing family budgets worldwide, and even leading to unrest in some countries
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.
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US President orders military to set up a port in Gaza for aid, say officials
President Joe Biden will tell Congress that he has ordered the US military to set up a port in Gaza...
Geostrategy
Company News
Latest News
NMDC, AD Ports Group ink MoU
The firms will continue to work closely on future global projects.
Business
COP28 wide open to private sector, says climate talks chief
ABU DHABI, UAE - Upcoming UN climate talks in Dubai will be open to the private sector on an unprecedented scale,...
Geostrategy
Federal Reserve likely to pause interest rate hikes
The Federal Reserve will likely announce it is holding interest rates at a 22-year high on Wednesday, as it looks...
Economy
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Geostrategy
Saudi Arabia selected as member of UN’s AI Advisory Body
New York, United States-- United Nations Secretary-General António Guterres Friday announced the selection of Saudi Arabia to the UN Advisory...
- UN Advisory Body on Artificial Intelligence (AI) consists of 39 members representing government and private and civil-society organizations.
- Shura Council member Dr. Latifa bint Mohammad Al-Abdulkareem will represent the Kingdom at the UN AI Advisory Body.
Geostrategy
India shocked at Qatar death penalty for 8 ex-naval officers
NEW DELHI, INDIA - India said on Thursday that eight of its citizens had been sentenced to death by Qatar in...
- India said it would "take up the verdict with Qatari authorities" and would continue to "extend all consular and legal assistance" to the prisoners.
- “We have initial information that the Court of First Instance of Qatar has today passed a judgement in the case,” India’s foreign ministry said in a statement.
Business
Lebanon national carrier halves flights amid fears of Israel war
BEIRUT, LEBANON - Lebanon's national carrier on Friday said it was cutting more than half of its flights as tensions along...
- Only eight of the Middle East Airlines company’s 22 planes would operate as of next week, with the rest of the fleet relocated to other airports.
- Other airlines, including Swiss International Air Lines and Germany's Lufthansa have already temporarily suspended Beirut flights,