Total value of Saudi Arabia’s export of dates reaches US$389m in 2023
RIYADH, SAUDI ARABIA - According to data released by the National Center for Palms and Dates (NCPD), the value of...
Business
Global criticism of Israel after ‘massacre’ of Gazans lining for food
Global condemnation flowed after Israeli forces in war-ravaged Gaza opened fire as Palestinian civilians scrambled for food aid during a...
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.
Total value of Saudi Arabia’s export of dates reaches US$389m in 2023
RIYADH, SAUDI ARABIA - According to data released by the National Center for Palms and Dates (NCPD), the value of...
Business
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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
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Business
Dubai at top global ranking for attracting Greenfield FDI projects in H1 2023
DUBAI, UAE - Dubai remains the top global destination for attracting Greenfield Foreign Direct Investment (FDI) projects, with the emirate...
- During the first half of 2023, Dubai’s global share in the attraction of Greenfield FDI projects stood at 6.58 percent.
- The results align the Dubai Economic Agenda D33, which aims to double the size of the emirate’s economy over the next decade.
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.