Stock markets rise on fresh hopes for Trump’s tariff approach
Investor sentiment has been jolted in recent weeks by fears that the president's hardball policies could deal a painful blow...Business Economy
US Fed likely to keep rates steady as uncertainty over Trump’s economic policies looms
Since January, Trump has imposed levies on major trading partners Canada, Mexico and China, and on steel and aluminum imports,...Economy
Saudi Fund for Development and Seychelles sign US$25m loan agreements
Riyadh, Saudi Arabia-- The Saudi Fund for Development (SFD) has signed two loan agreements with Seychelles to support the social...The SFD will contribute $25 million to support the social housing project in the Seychelles and the reconstruction of La Digue School project
The fund has so far implemented 700 development projects and programs in more than 90 countries with a value surpassing $18.7 billion
Greece and Saudi Arabia agree to link their power grids
Athens, Greece - Greece and Saudi Arabia announced their agreement to establish a jointly-owned company with the goal of connecting...The collaboration between Greece's Independent Power Transmission Operator and Saudi National Grid will result in each party holding a 50 percent stake
Besides this partnership with Saudi Arabia, Greece is also in the process of constructing an undersea cable to link its grid with Egypt
DIB to buy stake in TOM Group
DIB felt Turkey is a great investment destination.DIB will acquire 20 percent shareholding across T.O.M. Group with an option to increase shareholding to 25 percent within 12 months.
DIB has long held the view that Turkey was an attractive investment destination for a financial services institution.
US to auction three new oil and gas leases in the Gulf of Mexico
WASHINGTON, US - President Joe Biden's administration on Friday announced it would auction three new oil and gas leases in the...The move triggered a furious reaction from environmental groups who said the move would accelerate climate change.
The action was denounced by advocates of the fossil fuel industry as it reduced the number of lease sales planned by previous US administration.
Europe should move faster on energy transition, say IEA, ECB
PARIS, FRANCE - Europe must invest more quickly and massively in its energy transition if it wants to remain a global...Europe must invest more quickly in its energy transition if it wants to remain a global industrial power, top policymakers said.
Private sector investment faces barriers including policy uncertainty, bureaucratic red tape and higher energy costs, they said.
GCC, Pakistan ink preliminary free trade agreement
RIYADH, SAUDI ARABIA - Secretary-General of the Gulf Cooperation Council (GCC) Jasem Mohamed AlBudaiwi said that preliminary free trade agreement...The agreement was signed by GCC Secretary-General Jasem Mohamed AlBudaiwi and Pakistani Commerce Minister Dr. Gohar Ejaz.
The Secretary-General stressed that the GCC countries are proceeding with free-trade negotiations with other countries.
Politicians fail to understand scientific facts of climate, says expert
PARIS, FRANCE - Wavering ambition by governments and a growing belief that science is politically subjective are great causes for concern...Several extreme weather events have occurred in 2023, which the European Union's climate monitor says is likely to be the hottest in human history.
These underscores the urgency of slashing planet-heating greenhouse gas emissions to avert the catastrophic impacts of greater global warming.
First migrants in a week land on Italy’s Lampedusa
Bad weather over the past week had prevented those fleeing North Africa to venture the risky Mediterranean crossing. The earlier...Seventeen Tunisians were admitted to the island's migrant reception center, which earlier this month was overrun after 8,500 arrived in just three days
A little later, 38 migrants from Bangladesh arrived after their nine-metre boat was picked up off the coast by Italian authorities
More than 2,500 migrants dead or missing in Mediterranean in 2023: UN
The land journey from sub-Saharan African countries, where many of the migrants hail from, to departure points on the Tunisian...In total, some 186,000 people arrived by sea in southern Europe from January to September 24, landing in Italy, Greece, Spain, Cyprus and Malta
Between January and August of this year it is estimated that more than 102,000 refugees and migrants tried to cross the Mediterranean from Tunisia and 45,000 from Libya
Lebanese children ‘miss out’ on education as crisis takes toll
Lack of funding for the school system has precipitated repeated teachers' strikes and school closures, resulting in children being increasingly...Public sector teachers earn the equivalent of $150 to $300 per month, while the education ministry has sounded the alarm over lack of funding
At least 15 percent of households have pulled their children out of schools, UNICEF found in a June report, up from 10 percent a year ago
