Hamas expresses dissatisfaction over Israel’s stance on Gaza truce
A senior Hamas official confirmed that the group's delegation in talks seeking a Gaza truce left Cairo for consultations in...
Geostrategy
Dubai International Boat Show helps in marine business
DUBAI, UAE – Dubai International Boat Show has wrapped up following a hugely successful week of high-value boat sales, important...
Business
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.
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.
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Hamas expresses dissatisfaction over Israel’s stance on Gaza truce
A senior Hamas official confirmed that the group's delegation in talks seeking a Gaza truce left Cairo for consultations in...
Geostrategy
Company News
Lavoie buys e-bike firm VanMoof
Business
Latest News
NEOM to set up education, research and innovation center
Arts & Culture
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...
Business
Israel army orders evacuation of northern city after Lebanon clashes
KIRYAT SHMONA, ISRAEL - The Israeli military announced plans to evacuate the northern city of Kiryat Shmona on Friday, after days...
Geostrategy
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
Most Read
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...
- UAE currently stands as Turkey's 13th largest trade partner for exports and the 15th largest for imports.
- From 2014 to 2022, the total foreign direct investment from Turkey to the UAE amounted to approximately $1.1 billion
Market Report
Markets fall as Biden set for Middle East diplomacy drive
US and European stock markets mostly fell and oil prices rose as US President Joe Biden prepared for a trip...
- Wall Street opened in the red, with the tech-heavy Nasdaq shedding more than one percent, while Frankfurt and Paris fell 0.6 percent afternoon deal.
- "Understandably, not many people are in the mood to put their hard-earned cash at risk in these uncertain economic times," said an expert.
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.