Renault Scenic model wins Car of the Year at Geneva auto show
Renault unveiled a new electric vehicle and its Scenic model won the Car of the Year award at the first...
Business
UAE to provide US$10m grant to support WTO initiatives, says foreign minister
ABU DHABI, UAE – Emirates Minister of Foreign Affairs Sheikh Abdullah bin Zayed Al Nahyan has announced that the UAE...
Geostrategy
Business
Iran, Russia, Turkey considering joint car design and production
Iran and Turkey share a land border, while Russia shares a maritime border with Iran and Turkey across the Black...
- The proposed cooperation on automobile constriction between the three nations could progress rapidly.
- Numerous car makers have stopped sales of their cars or parts to Russia since it sent military to Ukraine.
Economy
Biggest tax cut in a decade will save British workers millions: Johnson
Speaking at the NATO summit in Madrid, Johnson said the "very, very tight labor market" and difficult "balance of our...
- The PM said when the National Insurance threshold rises Wednesday, it will save 30 million British workers up to $400 a year.
- He said there is a "big chance" to fix unnecessary cost pressures for people and businesses across the UK.
Geostrategy
Tunisian jurist who oversaw drafting of new constitution resigns
Some articles of the draft constitution published last Thursday in the official journal could "pave the way for a dictatorial...
- Constitution for a "new republic" is at the center of President Saied's program for rebuilding Tunisia's political system.
- The president plans to hold a referendum on the constitution on July 25, to mark one year since his power grab.
Business
Metaverse mass adoption may be years away, says Borget
The metaverse version -- where players largely do the same thing but can earn cryptocurrency rewards and buy extra kit...
- Borget is co-founder of The Sandbox, a platform that began as a game for mobile phones and PCs but is transforming itself into a virtual world
- Brands like Gucci and Adidas, financial firms Axa and HSBC, and Warner Music are among those who have chosen to set up shop in The Sandbox
Science
Horseshoe crab vital for vaccine safety
Their bright blue blood has been essential for testing the safety of biomedical products since the 1970s, when it replaced...
- Around 10 percent of the population is lost each year  as their exposed undersides bake in the Sun.
- Every year around 500,000 horseshoe crabs are harvested and bled for a chemical called Limulus Amebocyte Lysate, vital for testing against a type of bacteria.
Business
Russia warns G7 price cap on oil would increase its price
Moscow said Thursday that G7 plans to cap the price of Russian oil would lead to a shortfall on world...
- Leaders of the Group of Seven wealthy nations agreed at a summit this week to work on a price cap for Russian oil.
- West has already imposed multiple layers of sanctions on Russia in response to Putin's order to send troops to Ukraine.
Geostrategy
Nuke deal revival still possible despite fruitless Qatar talks: Iran
The talks aim to bring the United States back into a 2015 deal jettisoned by the Donald Trump administration in...
- US said the EU-brokered proximity talks in the Qatari capital Doha had concluded late Wednesday with "no progress made".
- Iranian Foreign Minister Hossein Amir-Abdollahian said he believed the talks had been "positive" and a deal could still be reached.
Economy
US price increases held steady, consumer spending growth down: Report
The world's largest economy has been battered for months by a cresting inflation wave, made more painful by the surge...
- The personal consumption expenditures (PCE) price index rose 6.3 percent compared to May 2021.
- Excluding volatile food and energy prices, PCE rose 0.3 percent in the month, the same as in April.
Business
US stocks on defensive amid inflation and slowdown anxiety
Wall Street stocks were mixed early Wednesday, treading water after the prior session's pullback that came amid worries over soaring...
- After last week's rally, stocks were back on the defensive Tuesday, falling hard after downcast consumer confidence reading.
- The broad-based S&P 500 added 0.1 percent at 3,825.61, while the Nasdaq Composite Index dipped 0.1 percent to 11,173.57.
Economy
Central banks should not let inflation become a norm: BIS
Rise in prices has sharply accelerated since Russia's invasion of Ukraine in February, leading central banks to tighten their key...
- BIS, known as the central bank of central banks, said they will have to act quickly to return to low and stable inflation.
- After the shock of Covid-19, central banks initially saw the return of inflation as temporary as the economy gained pace.
Renault Scenic model wins Car of the Year at Geneva auto show
Renault unveiled a new electric vehicle and its Scenic model won the Car of the Year award at the first...
Business
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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...
Geostrategy
Middle East economic growth to fall in 2023, says World Bank
WASHINGTON, US - The growth of the economies in the Middle East and North Africa (MENA) is expected to fall...
Economy
Nobel Chemistry Prize awarded to quantum dots researchers
The trio, whose names were leaked in the Swedish press ahead of the announcement, succeeded in producing these tiny components,...
Science
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Market Report
Markets slump as US jobs data says labor market buoyant
The focus has been on US Treasury bond yields that have surged to levels not seen in over a decade,...
- Asian indices also ended mostly lower with Hong Kong leading the decline, falling nearly 2.7 percent as the market reopened after a holiday weekend
- Russia's currency meanwhile continued to weaken on signs the country's economy is facing slower growth and higher inflation as the Ukraine war drags on
Geostrategy
Qatar begins construction on North Field gas expansion
RAS LAFFAN, QATAR - Qatar's state-owned energy giant began construction on Tuesday on a project to expand production from the world's...
- There has been mounting demand for Qatari gas as European consumer nations have scrambled to replace lost Russian deliveries.
- Qatari Energy Minister Saad al-Kaabi called the project a "leap towards our country's leadership in the field of energy".
Geostrategy
Countries pledge to raise $12 billion to help coral
The pledge comes with coral around the world under particularly acute stress because of record warm seas this year.
- Marine heatwaves -- episodes of abnormally high water temperatures -- have become more frequent and intense.
- Oceans have absorbed 90 percent of the excess heat produced by human activity since the dawn of the industrial age, according to scientists.