Saudi Industrial Production Index increases by 3.4 percent in Nov 2024
Riyadh, Saudi Arabia -- Saudi Arabia's Industrial Production Index (IPI) increased by 3.4 percent in November 2024, compared to Nov...
Business
UAE aviation sector’s 2024 milestone: 1 million air traffic movements
Abu Dhabi, UAE -- The United Arab Emirates (UAE) achieved a milestone in the aviation industry as it surpassed 1...
Business
Geostrategy
80 percent of Gazans now displaced: UN humanitarian coordinator
United Nations, United States --The UN humanitarian coordinator for Gaza said Tuesday that 1.9 million people -- 80 percent of the...
- UN estimated that up to 250,000 people are impacted by the Israeli military order for civilians to leave Al-Qarara, Bani Suhaila and other localities in Khan Yunis.
- ""Palestinian civilians in Gaza have been plunged into an abyss of suffering. Their homes life shattered, their lives upended," said UN humanitarian coordinator Sigrid Kaag.
Business
Tesla Q2 auto deliveries surge
Deliveries still 4.7 percent down from a year ago.
- Tesla said it delivered around 444,000 vehicles worldwide in the April-June period, exceeding consensus estimates compiled by FactSet and sending its share price up around 9%.
- Of the total figure, 422,405 involved Model 3 and Model Y vehicles. Tesla gave no detailed breakdown of the other autos delivered.
Business
UAE in top 10 global trending destinations: Travel Trends 2024
Dubai, UAE -- The Mastercard Economics Institute has revealed in its latest Travel Trends 2024 report a major shift in the...
- For UAE travelers, the top three trending destinations for this summer are London, Athens and Paris.
- Globally, Japan tops the trending destinations list for the past year with Munich ranking as the top trending destination for this summer (June-August 2024).
Geostrategy
Israel issues new Gaza evacuation orders, many Palestinians flee
Hundreds of thousands had already left Rafah ahead of and during a ground offensive launched by Israeli troops on the...
- The attack was claimed by the armed wing of the Palestinian group Islamic Jihad. Israel had already staged air strikes in Rafah on Monday.
- "Fear and extreme anxiety have gripped people after the evacuation order," said Bani Suhaila resident Ahmad Najjar. "There is a large displacement of residents."
Geostrategy
Short fuses in Egypt as blackouts stretch into sweltering summer
Cairo, Egypt -- At least once a day, the hum of every fan, air conditioner and fridge across Egypt goes quiet....
- A decade ago, Egypt faced similar power cuts, which helped fuel popular discontent and protests against the short-lived presidency of late Mohamed Morsi.
- The present-day blackouts come as Egyptians face the worst economic crisis of their lives, with inflation and currency devaluations shredding savings and leaving families strugglin
Geostrategy
Israel carrier says Turkish workers refused to refuel plane
Jerusalem, Undefined -- Israel's national carrier El Al said Sunday its Warsaw to Tel Aviv flight was not allowed to refuel...
- The plane then took off to Rhodes in Greece where "it will refuel before taking off to Israel", the airline said.
- Relations between Turkey and Israel have deteriorated since the war in Gaza broke out on October 7, with all direct flights between the two countries cancelled since.
Geostrategy
Fighting for third day in north Gaza as thousands displaced
Palestinian Territories -- Explosions, air strikes and gunfire rattled northern Gaza on Saturday, the third day of an Israeli military...
- An AFP correspondent reported ongoing explosions from the Shujaiya area near Gaza City, with a resident saying bodies were visible on the streets.
- The United Nations humanitarian agency OCHA estimated that "about 60,000 to 80,000 people were displaced" from the area this week.
Geostrategy
European Union chief in Egypt for joint investment conference
"At this conference, European companies are signing over 20 new deals ... which are worth over 40 billion euros," Ursula...
- The strategic partnership deal provides the financial support in exchange for boosting energy sales to Europe and stemming migration.
- Egypt, the Arab world's most populous nation, is in dire need of financial help as it weathers a severe economic crisis marked by rapid inflation.
Geostrategy
Palestinians flee as Israeli forces return to Gaza’s north
The flare-up in the northern Gaza Strip's Shujaiya district, which witnesses and medics said caused numerous casualties, comes as fears...
- Gaza City's Al-Ahli hospital, said the facility had so far received seven "martyrs including four children" and more than 40 others who were wounded.
- In Gaza, fighting has ground on despite comments Sunday by Israeli Prime Minister Benjamin Netanyahu that the "intense phase" of the war was winding down.
Business
US offers $5 million reward for Bulgarian ‘cryptoqueen’
SOFIA, Bulgaria -- The United States announced Wednesday a reward of up to $5 million for information that could lead to...
- Ignatova, 44, evaded arrest by fleeing on a flight from Sofia to Athens two weeks after her indictment in October 2017 and her whereabouts remain unknown.
- Ignatova, who has German citizenship, is accused of being the mastermind behind the mammoth fraudulent virtual currency scheme OneCoin.
Saudi Industrial Production Index increases by 3.4 percent in Nov 2024
Riyadh, Saudi Arabia -- Saudi Arabia's Industrial Production Index (IPI) increased by 3.4 percent in November 2024, compared to Nov...
Business
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Qatar PM sees ‘momentum’ on Gaza talks after US election
Doha, Qatar - Qatar's prime minister said on Saturday that momentum had returned to talks aimed at securing a truce and...
Geostrategy
Vegetable oil pushes global food prices to seven-month high in Nov
Rome, Italy -- The benchmark for world food commodity prices rose in November to its highest level since April 2023,...
Business
Abu Dhabi’s Hub71 startups secure $1.90 billion in funding, says CEO
Abu Dhabi, UAE -- Startups within Hub71, Abu Dhabi's global tech ecosystem, have secured over AED 7 billion in funding,...
Business
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Business
Bitcoin passes $100,000 mark for first time, outshining wavering stock markets
Donald Trump, who has vowed to make the US the 'bitcoin and cryptocurrency capital of the world' wrote 'Congratulations Bitcoiners...You're...
- The digital asset has now soared more than 50 percent since the election of Donald Trump, who has vowed to make the US the "bitcoin and cryptocurrency capital of the world."
- The historic level was broken after Trump picked crypto proponent Paul Atkins to take over as chair of the Securities and Exchange Commission, the markets regulator.
Economy
OECD warns of protectionism weeks before Trump return
While the organization raised its 2025 global growth forecast to 3.3 percent, it cautioned that "greater trade protectionism, particularly from...
- Trump has threatened blanket tariffs of at least 10% on all imports and since his election has vowed to slap 25% import tariffs against Canada and Mexico, the US trade partners.
- "Increases in trade-restrictive measures could raise costs and prices, deter investment, weaken innovation and ultimately lower growth," the OECD warned in its economic outlook.
Geostrategy
France, Saudi Arabia to co-chair June meet on creating Palestinian state: Macron
The French president said they want to involve both European and non-European allies who are ready to move in this...
- Macron said that France and Saudi Arabia have the "will to move forward" on a deal to sell Rafale fighter jets to the Kingdom.
- Discussions had already been underway for Riyadh to acquire the French-made jets and, though no definitive announcement was expected during Macron's visit.