Apple’s changes contradicts European rules, 34 firms complain
Brussels, Belgium - Changes Apple is making to its services in the European Union "make a mockery" of new antitrust rules...
Business
World resource extraction could surge 60 percent by 2060, UN warns
Paris, France - Extraction of Earth's natural resources could surge 60 percent by 2060, imperiling climate goals and economic prosperity, the...
Economy
Economy
EU braces for migrants spurred by food crisis
The EU must brace for new waves of migrants forced to uproot because of the food crisis aggravated by the...
- Around 20 million tons of grain from last year's harvest are blocked in Ukrainian ports on the Black Sea
- The situation has sent prices for certain foods and cooking oils soaring on world markets, with parts of Africa and the Middle East bearing the brunt
Geostrategy
Iran reports new technical advances at nuclear plant: IAEA
The UN watchdog's director-general Rafael Mariano Grossi said the changes at the plant under mountains south of the Iranian capital...
- IAEA said Tehran had started "feeding... a cascade of... centrifuges" at the Fordow fuel enrichment plant which has recently been upgraded.
- In January 2021, Iran said it was working to enrich uranium to 20 percent at Fordow, well beyond the 3.67 percent agreed under the 2015 deal.
Economy
Billions rely on wild species for food, fuel, income: UN
Overall, 50,000 species are used for food, energy, medicine, material and other purposes around the world, with more than 10,000...
- Wild plants, algae and fungi provide food and income for one in five people globally, the report said, while some 2.4 billion people rely on wood for cooking.
- Illicit trade in wild species is estimated to be worth between $69 billion and $199 billion a year, the third largest illegal market after human trafficking and drugs.
Economy
Record exports help US trade deficit reach its lowest in 2022
The US trade deficit with China declined again, falling $2.8 billion to $32.2 billion in May, on another big drop...
- Surge in oil sales, natural gas and consumer goods pushed American exports up by $3 billion to $255.9 billion.
- Multiple export categories set records, including industrial supplies, autos and parts, and also petroleum.
Business
New multilateralism likely to define global trade in 2022: DMCC report
Global trade hit a record high of $28.5 trillion in 2021, with more growth expected in 2022. The future also...
- Geopolitics will shape the trade landscape in the 2020s, building on new developments in regionalism, bilateral trade, and global investment flows.
- Pent-up demand from the COVID-19 shock is already driving trade in goods; a rebound in trade in services is set to follow.
Business
European stocks bounce back after sharp losses on global recession fears
European stock markets rebounded on Wednesday, recovering some ground following sharp losses the previous session on fears of a global...
- London's benchmark FTSE 100 index was up 1.8 percent around midday and the pound was mixed against main rivals.
- Crude futures had slumped nearly 10 percent Tuesday, while Europe's main stock markets lost about three percent.
Economy
Sri Lanka appeals Russia for fuel and resumption of tourist flights
Sri Lanka is facing its worst economic downturn since it gained independence from Britain in 1948.
- The Island nation has suffered months of blackouts, rampant inflation and critical shortages of food and petrol.
- Russia and Ukraine were among the top sources of tourists for Sri Lanka before February's conflict began.
Largest Hajj of Covid era ready to begin in Mecca
The biggest hajj pilgrimage since the coronavirus pandemic began kicks off Wednesday, with hundreds of thousands of mostly mask less...
- One million fully vaccinated Muslims, including 850,000 from abroad, are allowed at this year's hajj
- Some pilgrims donned clothing featuring the names and flags of their countries
Business
IEA says gas use to shrink due to high prices, Russian cuts
Gas consumption will contract slightly this year due to high prices and Russian cuts to Europe, with only slow growth...
- The IEA said additional green energy transition measures would ease pressure on gas prices globally
- European nations are importing more LNG shipped by tanker, which the IEA said is creating supply tensions
Business
European stocks surge Monday after nosediving last week
Europe's stocks recovered somewhat Monday as investors tentatively regained some optimism following the heavy losses in the financial markets last...
- London stocks won 1.1 percent at midday, while Frankfurt and Paris gained 0.5 percent and 1.0 percent respectively.
- Markets have suffered sharp losses in recent weeks on fears that global rate hikes -- aimed at fighting soaring inflation.
Apple’s changes contradicts European rules, 34 firms complain
Brussels, Belgium - Changes Apple is making to its services in the European Union "make a mockery" of new antitrust rules...
Business
Company News
Spanish footballer Veiga to play for Saudi club Al Ahli
Arts & Culture
Latest News
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...
Geostrategy
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
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Geostrategy
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...
- Argentina, the Latin American country with the largest Jewish population, on Tuesday started evacuating over 1,200 of its citizens from Israel.
- "Around 4,500 German citizens" have registered on a list seeking help to return, a foreign ministry source said.
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.