Russia to hold talks with US in Riyadh Monday: Kremlin
Donald Trump spoke to both Russia's Vladimir Putin and Ukraine's Volodymyr Zelensky this week and the US is also due...
Geostrategy
Israel blocks humanitarian aid to Gaza as ceasefire’s first phase ends, sparking global outrage
Truce mediators Egypt and Qatar accused Israel of blatantly violating the ceasefire deal by halting the aid, a move left trucks...
Geostrategy
Business
OPEC names Kuwaiti Haitham al-Ghais as next secretary general
Al-Ghais, who was Kuwait's OPEC governor from 2017 to June 2021, serves as a deputy managing director of the Kuwait...
- OPEC said that al-Ghais was appointed by acclamation and will take up his three-year post on August 1.
- He will replace Nigeria's Mohammed Barkindo, who took over the helm of the organization in 2016 and led it for two terms.
Geostrategy
Baghdad candle vigil honours slain Iran general, Iraqi deputy
On Sunday evening, hundreds of supporters of Hashed al-Shaabi, an Iran-aligned group, gathered at the site, to pay tribute to...
- On Sunday evening, hundreds of supporters of Hashed al-Shaabi, an Iran-aligned group, gathered at the site, to pay tribute to the slain men
- The night-time strike, ordered by then US president Donald Trump, hit a car in which Soleimani and Muhandis were travelling on the edge of the airport
Business
Tesla recalls 700,000 vehicles
Around 200,000 were recalled in China, after 500,000 in the US.
- The vehicles recalled are Model S and Model 3 cars, with Tesla promising to inspect the issue free of charge
- The defects affect the vehicles' backup cameras or cause the hoods to open suddenly while driving
Geostrategy
Iran announces new space launch amid nuclear talks
Iran announced Thursday it has carried out a new space launch, in a move likely to irk Western powers amid...
- Iran insists its space programme is for civilian and defence purposes only, and does not breach the nuclear deal or any other international agreement
- UN Security Council Resolution 2231 of 2015, endorsing the nuclear deal, imposed no blanket ban on Iranian rocket or missile launches
Arts & Culture
Iraqi film students tell their stories from Mosul
In a collaboration between the Mosul fine arts academy, a Belgian theatre company and UNESCO, 19 students are getting a...
- Over a four-month course, students get a taste of everything from writing and shooting to acting and editing
- The students' nine works, each lasting up to five minutes, will be screened in Mosul in February before being presented to European festivals.
Geostrategy
Dubai airport fully operational for first time since pandemic
Dubai airport, one of the world's busiest travel hubs, is fully operational for the first time since the coronavirus pandemic...
- Travel via Dubai increases at the end the year, with foreigners -- who make up the majority of the emirate's population -- heading home for the holidays.
- Since the pandemic began, the UAE has registered over 744,400 cases, including 2,152 deaths.
Investigation
REVEALED: Billions missing from Lebanese Central Bank
Even as Lebanon faces one of the worst economic crises, about US$7 billion remains missing from the Lebanese central bank’s...
- Some of the data sifted by TRENDS point to a US$7 billion scam involving the country’s central bank and the powerful individuals
- The poor and weak policies of Banque du Liban (BDL) may have facilitated a “Ponzi” scheme involving Eurobonds
Geostrategy
OPEC marks fifth anniversary of historic Vienna Agreement
The Organisation of the Petroleum Exporting Countries (OPEC) marked its 5th anniversary of the historic ‘Vienna Agreement’ on Tuesday. The...
- The agreement led to the Declaration of Cooperation (DoC) between OPEC countries and leading non-OPEC oil-producing nations.
- The Conference, where the pact was signed, saw OPEC Member Countries reinforce their efforts to overcome a then-unprecedented oil market downturn.
Economy
China manufacturing recovers as power shortage eases
Manufacturing activity in China edged up in November due to an easing in power shortages and a drop in some...
- China's non-manufacturing PMI, however, dropped slightly to 52.3 from 52.4 as the country saw fresh coronavirus outbreaks
- Analysts had predicted slowing growth after the recent flare-up of cases in late October, which spread to 21 provinces
Economy
Global oil reserves release ‘a drop in the ocean’: Goldman Sachs
"On our pricing model, such a release would be worth less than $2/bbl, significantly less than the $8/bbl sell-off that...
- "On our pricing model, such a release would be worth less than $2/bbl, significantly less than the $8/bbl sell-off that occurred since late October," the bank said in a note
- US West Texas Intermediate crude was down 35 cents to $78.15 a barrel by 0031 GMT on Wednesday
Most Read
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
Russia to hold talks with US in Riyadh Monday: Kremlin
Donald Trump spoke to both Russia's Vladimir Putin and Ukraine's Volodymyr Zelensky this week and the US is also due...
Geostrategy
Company News
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McDonald’s profits up 7%
Business
Travellers rush to leave Lebanon amid spiking tensions
Several airlines including Lufthansa and Air France have delayed or suspended flights to Lebanon, and countries have issued urgent calls...
Geostrategy
Thousands bid farewell to Ismail Haniyeh in Qatari capital
Haniyeh was laid to rest in Lusail, north of the capital Doha, following funeral prayers at the Gulf emirate's largest mosque...
Geostrategy
Iran, allies ready Israel response as funerals held for Haniyeh, Shukr
Hezbollah chief Hassan Nasrallah, addressing the funeral of the Lebanese group's top military commander, said Israel and "those who are...
Geostrategy
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Geostrategy
UNSC to hold emergency meeting over Hamas chief’s killing
The meeting has been requested by Iran and supported by representatives of Russia, China and Algeria, said a spokesman for...
- Iran's UN envoy Amir Saeid Iravani called on members to "condemn unequivocally and strongly the acts of aggression and terrorist attacks" by Israel.
- He also urged council members to take "immediate action to ensure accountability for these violations of international law," including potential sanctions.
Arts & Culture
World Rally Championship to add Saudi Arabia race to calendar
Paris, France -- World Rally Championship announced Wednesday that it will add races in Saudi Arabia, the Canary Islands and Paraguay...
- Rally Saudi Arabia will end the season on November 27-30 with the event in the Spanish archipelago on April 24-27 and the race in South America on August 28-31.
- It also added the Canary Islands and Paraguay to its calendar next year. Rallys in Croatia, Poland and Latvia are no longer on the circuit.
Business
Day after UAE-Chile CEPA, Dubai Chambers and Pro-Chile sign MoU
Under the MoU, both parties will coordinate events aimed at strengthening ties between exporting companies from Dubai and Chile and...
- The CEPA is projected to increase non-oil bilateral to $750 million by 2030, more than doubling the US$306 million shared in 2023.
- Dr Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, said the CEPA is expected to come into effect within the next six months.