US military begins dropping aid into war-torn Gaza
Israel's top ally the United States said it began air-dropping aid into war-ravaged Gaza, as the Hamas-ruled territory's health ministry...
Geostrategy
Hamas says Israeli military action kills 7 hostages in Gaza
Hamas said that seven more hostages seized during its unprecedented attack on southern Israel on October 7 had died because...
Geostrategy
Economy
Russia to pay overseas debt in rubles as US exemption ends
Russia said Wednesday that it will start paying its foreign debt in rubles after the United States ended an exemption...
- Punishing Western sanctions on Russia have largely severed the country from the international financial system.
- Russian Finance Minister Anton Siluanov said the current situation was "artificially created by an unfriendly country".
Business
Sanctions hit Russia, Iran to boost cooperation in energy and trade
Tehran and Moscow are seeking to expand cooperation in energy and trade, officials said Wednesday, as Russian Deputy Prime Minister...
- Both countries have huge oil and gas reserves but are constrained by sanctions imposed by the West.
- The two countries vowed to increase the use of their national currencies in their trade exchange.
Geostrategy
Aggrieved workers drop lawsuit against Bangladeshi Nobel laureate
More than 100 lawsuits had been filed against GT by workers, along with three contempt-of-court charges against Yunus and another...
- Grameen Telecom (GT) and its senior managers were sued by workers who claimed the company had unfairly deprived them of profit shares.
- Lawyers for GT proposed the settlement after workers lodged an application to dissolve the company in the country's High Court.
Economy
Saudi Arabia to form national land alliance: Minister at GLF
The forum will discuss issues like land decentralization, climate crisis, youth and land-based opportunities in rural areas, and building partnerships.
- The Saudi agriculture minister Khaled Hneifat was speaking at the 9th triannual four day Global Land Forum.
- The forum is organized by the Ministry of Agriculture, the SEEDS Jordanian youth organization and the EU.
Economy
Global issues slowing down labor market recovery: ILO
Labor incomes have not yet recovered for the majority of workers. In 2021, three in five workers lived in countries...
- The sharp rise in vacancies in advanced economies led to a tightening of labor markets with a growing number of jobs available relative to job seekers.
- But, it dropped in Q1 2022 to 3.8 percent below pre crisis benchmark (Q4 2019), amounting to a deficit of 112 million full-time jobs.
Economy
Sri Lanka inflation hit seventh consecutive record high in April
Hammered by a foreign exchange crisis, the country's 22 million people have been enduring acute shortages of essentials.
- National Consumer Price Index rose 33.8 percent year-on-year in April, more than six times the 5.5 percent inflation in 2021.
- Inflation is likely to rise further in May as fuel price hikes of 35 percent for petrol and 65 percent for diesel.
Geostrategy
Zelensky tells Davos: Send us weapons, stop Russia trade
Appearing by video link, Zelensky delivered the headline speech to the first World Economic Forum to be held in the...
- Russian business and political leaders, who used to participate in debates and mingle with other A-listers at champagne parties, were barred by organisers from attending this year.
- While the United States, Britain and Canada have moved to ban Russian oil and gas, the European Union has been divided over imposing similar measures.
Geostrategy
France sees no EU entry for Ukraine before ’15 or 20 years’
A bid by Ukraine to join the European Union would not be finalized for "15 or 20 years," France's Europe...
- President Zelensky on Saturday insisted on an immediate start of the process towards full EU membership.
- Some EU leaders share France's skepticism about a rapid acceptance of Ukraine's membership bid.
Geostrategy
Israel’s government in minority after Arab MP resigns from Knesset
The MP Zoabi said: "Again and again the heads of the coalition have taken hawkish, rigid and right-wing stances regarding...
- Several opposition lawmakers, including Zoabi and members of the Arab Joint List, are bitterly opposed to the current opposition leader.
- Former PM Benjamin Netanyahu -- in office from 1996 to 1999, and again from 2009 until June 2021 -- is outspoken about his desire to topple the Bennett government.
Business
IMF and Pakistan to discuss release of funds as economy falters
Pakistani Prime Minister Shehbaz Sharif, who took power with a coalition that removed Khan in a no-confidence vote last month,...
- Pakistan has repeatedly sought international support for its economy, which has been hit by crippling national debt
- A six billion dollar IMF bailout package signed by former Prime Minister Imran Khan in 2019 was never fully implemented
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Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
US military begins dropping aid into war-torn Gaza
Israel's top ally the United States said it began air-dropping aid into war-ravaged Gaza, as the Hamas-ruled territory's health ministry...
Geostrategy
Company News
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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...
Geostrategy
Middle East economic growth to fall in 2023, says World Bank
WASHINGTON, US - The growth of the economies in the Middle East and North Africa (MENA) is expected to fall...
Economy
Nobel Chemistry Prize awarded to quantum dots researchers
The trio, whose names were leaked in the Swedish press ahead of the announcement, succeeded in producing these tiny components,...
Science
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Market Report
Markets slump as US jobs data says labor market buoyant
The focus has been on US Treasury bond yields that have surged to levels not seen in over a decade,...
- Asian indices also ended mostly lower with Hong Kong leading the decline, falling nearly 2.7 percent as the market reopened after a holiday weekend
- Russia's currency meanwhile continued to weaken on signs the country's economy is facing slower growth and higher inflation as the Ukraine war drags on
Geostrategy
Qatar begins construction on North Field gas expansion
RAS LAFFAN, QATAR - Qatar's state-owned energy giant began construction on Tuesday on a project to expand production from the world's...
- There has been mounting demand for Qatari gas as European consumer nations have scrambled to replace lost Russian deliveries.
- Qatari Energy Minister Saad al-Kaabi called the project a "leap towards our country's leadership in the field of energy".
Geostrategy
Countries pledge to raise $12 billion to help coral
The pledge comes with coral around the world under particularly acute stress because of record warm seas this year.
- Marine heatwaves -- episodes of abnormally high water temperatures -- have become more frequent and intense.
- Oceans have absorbed 90 percent of the excess heat produced by human activity since the dawn of the industrial age, according to scientists.