World economic growth to remain at 2.8 percent in 2025: UN report
The World Economic Situation and Prospects (WESP) 2025 report shows that despite withstanding a series of mutually reinforcing shocks, global...
Economy
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.
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Crunch time for Saudi-hosted drought, desertification talks
Riyadh, Saudi Arabia -- Landmark talks on desertification are set to conclude in Saudi Arabia this week amid doubts that pledged funds...
Geostrategy
Air passenger numbers to top five billion for the first time in 2025: IATA
Geneva, Switzerland -- Air passenger numbers are forecast to top five billion for the first time next year and the sector's...
Business
UAE to introduce 15% tax rate on corporate profit from Jan 2025
Dubai, United Arab Emirates -- The United Arab Emirates, home to the regional headquarters of numerous multinational companies, said Monday it...
Business
Most Read
Assad’s fall reshapes Middle East politics, redefining power dynamics across the region
The Islamist Hayat Tahrir al-Sham rebels shocked the world by swiftly seizing Aleppo and Damascus, overshadowing global focus on the...
- Assad had for nearly 14 years held off an uprising that many believed had been exhausted, but his downfall followed a series of battlefield convulsions for other allies of Iran
- Israel has all but decapitated the Hezbollah leadership in Lebanon since September, while the killing of Hamas figureheads has dealt major blows to Assad's key backer Tehran
Geostrategy
UK Prime Minister to talk trade, Middle East during Gulf visit
London, United Kingdom -- Britain's leader Keir Starmer makes his first trip to the Gulf as prime minister from Sunday, seeking...
- Starmer will first visit the United Arab Emirates and then travel to Saudi Arabia, before stopping off in Cyprus on his way back to London on Tuesday.
- Starmer's trip comes after Britain last week rolled out the diplomatic red carpet for Qatar's emir Sheikh Tamim bin Hamad Al-Thani who enjoyed a state visit to the UK.
Geostrategy
Trump touts tariffs, mass deportations and NATO skepticism
In his first formal television interview -- and just six weeks before he takes office -- Trump again signaled that...
- He also stressed that his campaign promises of huge tariffs -- including against top US trading partners Canada, Mexico and China -- would be enacted.
- As to whether Americans would see higher prices as a result of those tariffs, Trump said that "I can't guarantee anything. I can't guarantee tomorrow."