WTO launches US$50m fund for women entrepreneurs in developing countries
ABU DHABI, UAE - The director general of the World Trade Organization, Ngozi Okonjo-Iweala, on Sunday launched a $50 million fund...
Geostrategy
Dutch court upholds $50bn payment award in Yukos case
THE HAGUE, NETHERLANDS - A Dutch court quashed an appeal by Russia in a record $50-billion case on Tuesday, paving the...
Geostrategy
Geostrategy
Iran disconnects cameras at nuclear sites as IAEA set for censure vote
IAEA head Rafael Grossi told reporters on Monday that it would be "a matter of just a few weeks" before...
- Iran said the disconnected cameras had been operating beyond the safeguard agreement between Tehran and the IAEA.
- European governments have expressed mounting concern over how far Iran has gone since the US reimposed sanctions.
Economy
Stock markets slow as investors weigh recession prospects
The OECD on Wednesday warned that the world economy would pay a "hefty price" for Russia's invasion of Ukraine as...
- European stock markets were lower Wednesday approaching the half-way stage.
- All eyes are on the release of US inflation data for an idea about the future Fed rate hikes.
Economy
World economy will pay a ‘hefty price’ for Ukraine crisis: OECD
The OECD warned Wednesday that the world economy will pay a "hefty price" for Russia's invasion of Ukraine as it...
- The Paris-based organization, which represents 38 mostly developed countries, is the latest institution to predict lower GDP growth due to the conflict.
- The OECD noted that commodity prices had risen, hitting real income and spending, "particularly for the most vulnerable households".
Business
Wall Street stocks down as World Bank lowers global growth outlook
Wall Street stocks fell early Tuesday as the World Bank slashed its global growth outlook and Target warned of lower...
- The World Bank cut its growth estimate for the global economy to 2.9 percent, 1.2 percentage points below the January forecast.
- The broad-based S&P 500 fell 0.5 percent to 4,100.91, while the tech-rich Nasdaq Composite Index also declined 0.5 percent.
Business
Apple unhappy as EU agree on common charger for all its devices
The EU said the current situation remained wasteful and that European consumers spent approximately 2.4 billion euros ($2.8 billion) annually on...
- For most portable devices the requirement for charging via a USB Type-C port will come into effect from late 2024, negotiators said, while laptops will be given more time.
- The USB-C rule will also stretch to digital cameras, headphones, headsets, portable speakers and E-readers.
Economy
Stock markets up globally as China eases lockdown
Adding to the upbeat mood were comments from US commerce chief Gina Raimondo that she was considering lifting tariffs on...
- Traders took heart also from a wind-down of Covid containment measures in China that have crippled its economy for months.
- As infections trended down in major cities, cities like Shanghai and Beijing authorities allowed some sense of normality to return.
Geostrategy
Lebanon seeks US intervention as Israel shifts gas production vessel
Lebanese officials said Sunday that any Israeli activity in disputed waters would constitute a "hostile act" and an "attack" on...
- The ship operated by London-listed Energean Plc arrived in the Karish gas field on Sunday and will immediately commence operations.
- The move immediately drew condemnation from Lebanon's president and prime minister who held talks on Monday to discuss next steps.
Geostrategy
Iran seized Greek oil tankers in retaliation: Supreme leader
Iran's supreme leader on Saturday said that the country's seizure of two Greek oil tankers late last month was in...
- The Revolutionary Guards of Iran boarded and took control of the two vessels in the Gulf on May 27
- The oil seizure came two days after Greece confirmed it would send 115,000 tons of Iranian oil to US
Economy
US adds nearly 400,000 jobs in May, jobless rate 3.6 percent
Restaurants and hotels that were decimated due to Covid-19 showed a strong recovery in May, adding 84,000 positions, the data...
- The jobless rate held steady at 3.6 percent for the third consecutive month
- Employers have struggled to fill open positions, which has pushed wages higher
Economy
OPEC to boost oil production as prices surge and EU bans Russian imports
Major oil producers led by Saudi Arabia and Russia on Thursday decided to open taps wider than expected amid soaring...
- Analysts had expected OPEC+ producers to stick to their policy of modest output increases, as they have done since May 2021.
- OPEC+ drastically slashed output in 2020 as demand slumped when the world locked down under the coronavirus pandemic.
WTO launches US$50m fund for women entrepreneurs in developing countries
ABU DHABI, UAE - The director general of the World Trade Organization, Ngozi Okonjo-Iweala, on Sunday launched a $50 million fund...
Geostrategy
Company News
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DUBAL, Oriental Copper ink MoU
Business
UN conference adopts plan to reduce harmful chemicals
PARIS, FRANCE - A new roadmap to reduce the environmental risks from chemicals and waste was adopted at a United Nations...
Geostrategy
ADB capital reforms unlock $100bn to support Asia and the Pacific region
MANILA, PHILIPPINES - The Asian Development Bank (ADB) approved capital management reforms that unlock US$100 billion in new funding capacity...
Economy
The many ways US government shutdown affects people
WASHINGTON, US - The United States is heading toward a government shutdown this weekend with no foreseeable way out of a...
Geostrategy
Most Read
Science
Politicians fail to understand scientific facts of climate, says expert
PARIS, FRANCE - Wavering ambition by governments and a growing belief that science is politically subjective are great causes for concern...
- Several extreme weather events have occurred in 2023, which the European Union's climate monitor says is likely to be the hottest in human history.
- These underscores the urgency of slashing planet-heating greenhouse gas emissions to avert the catastrophic impacts of greater global warming.
Geostrategy
Israel sells Arrow 3 missile defense system to Germany for US$3.5bn
TEL AVIV, ISRAEL - Israel's US$3.5-billion sale of its Arrow 3 missile defense system to Germany, sparked by security fears after...
- Israeli arms exports reached a new record of $12.5 billion dollars last year, double the amount from three years earlier, says its defense ministry.
- Israel, together with its top ally the United States, has developed hi-tech systems designed to knock incoming rockets and missiles out of the sky.
Geostrategy
Top army officials from 30 nations review threats in Asia-Pacific
New Delhi, India - Army chiefs and senior officers from 30 countries including the United States met in India on Tuesday...
- US Army chief Randy George said the region was "critically important", speaking to reporters alongside his Indian counterpart Manoj Pande.
- Generals from Japan and Australia, which make up the "Quad" defense cooperation forum alongside Washington and New Delhi, also took part.