UNRWA head seeks General Assembly support after backlash
The head of the UNRWA is set to defend his organization's work at the General Assembly, after crippling backlash over...
Geostrategy
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
Business
Israel, Egypt to export gas to EU in its bid to cut Russian imports
Russia's war against Ukraine has exposed our European dependency on Russian fossil fuels, and we want to get rid of...
- The memorandum of understanding on gas exports between Egypt, Israel and the EU was signed at the East Mediterranean Gas Forum.
- Under a $15 billion deal in 2020, Israel already exports gas from an offshore field to Egypt, where it is liquefied and shipped to Europe.
Business
Gazprom to cut Italian energy giant Eni’s gas supply by 15 percent
Russia's Gazprom told Eni it would cut its gas supply by around 15 percent for Wednesday, the Italian energy giant...
- Italy buys the majority of its natural gas from overseas -- and more than 40 percent of its imports come from Russia.
- Since Russia invaded Ukraine, triggering unprecedented Western sanctions against Moscow, Italy has been scrabbling to cut that reliance.
Economy
China’s recovery to take oil demand to pre-Covid levels by 2023: IEA
Demand is set to grow to 101.6 million barrels per day in 2023, according to the IEA, which advises developed...
- Soaring oil prices and weaker economic growth is likely to temper the growth of demand in the second half of this year.
- The IEA expects global oil demand to grow to 99.4 million barrels per day in 2022 -- higher than its previous estimates.
Economy
Qatar passenger traffic may surge by 105 percent in 2022: Report
The report of Qatar Aviation body is updated with the IATA Air Transport data (Airport-IS) related to schedule statistics until...
- Passenger traffic anticipates a surge ranging from +90 percent to +105 percent compared to the year 2021
- The report suggests that the number of flights at Hamad and Doha International Airports could reach about 28,000
Economy
UN urges WTO to not restrict food export for humanitarian purposes
The United Nations on Monday begged world trade ministers meeting at the WTO not to impose export restrictions on food...
- Countries meeting at the WTO's ministerial conference in Geneva this week are trying to reach a consensus position on food security
- Russia's invasion has heightened concerns for global food security as Ukraine's Black Sea ports are blocked
Business
US stocks down again as S&P 500 breaches bear market
Wall Street stocks sank early Monday, tumbling into a "bear market" in anticipation of more Federal Reserve monetary tightening this...
- The market's losses come on the heels of three straight down sessions, put the S&P 500 into a bear market.
- About 35 minutes into trading, the broad-based S&P 500 was at 3,796.66, down 2.7 from Friday's session.
Geostrategy
Ahead of food security meet, WTO chief ‘cautiously optimistic’
The WTO is hoping to keep criticism of Russia's war in Ukraine to the first day of talks, when many...
- With its first ministerial meeting in years, the WTO faces pressure to finally eke out long-sought trade deals and show unity.
- EU's Valdis Dombrovskis said the bloc is "working hard with all the members to prepare a multilateral food security package".
Economy
WTO negotiators finalize key texts on fishing, Covid vaccines
The WTO agreements on fisheries subsidies and a Covid vaccine patent waiver moved a step closer to completion Saturday after...
- World Trade Organization's first high-level meeting in five years where trade ministers and officials from 164 countries will meet
- The global trade body said a draft text on a deal banning subsidies favoring overfishing had been handed over to the ministers
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.
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UNRWA head seeks General Assembly support after backlash
The head of the UNRWA is set to defend his organization's work at the General Assembly, after crippling backlash over...
Geostrategy
Company News
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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
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...
Geostrategy
Most Read
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.
Geostrategy
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...
- The Kingdom plans on carrying 330 million passengers annually and raising freight capacity to 4.5 million tons by 2030.
- Saudi Arabia and the Dominican Republic also signed agreements on air transport services between the two countries.