Majority of WTO members sign investment deal for development
The deal aims to facilitate "the flow of foreign direct investment... particularly to developing and least-developed" countries with the aim...Economy
Hawkish economic approach on China has bipartisan support in US, say analysts
WASHINGTON, US - In a shift from tit-for-tat tariffs and strong-arm tactics to tech restrictions and investment curbs, US policy towards...Economy Geostrategy Politics
European stocks, oil steady before US jobs data and OPEC output decision
Traders are growing confident that the Federal Reserve will slow its pace of rate hikes after Fed boss Jerome Powell...At the same time, Powell and other Fed officials have lined up to warn that rates would continue to rise and stay elevated, with the possibility of no cut until 2024.
Focus was also on OPEC+, which may decide Sunday to slash oil production further to boost prices for its members, which include Saudi Arabia and Russia.
UAE 51st National Day: Central Bank launches new 1000 dirham note
Abu Dhabi, UAE---The Central Bank of the UAE launched an AED-1000 denomination note as part of the country's 51st anniversary...Made of polymer and using innovative designs and advanced security features, the note is the fourth in the Third Issuance of the National Currency Project.
The new banknote will be available in Central Bank branches and ATMs in the first half of 2023.
TotalEnergies cuts UK investment
Move comes UK imposes windfall tax on energy firms.Total will cut its North Sea investment by US$123 million in 2023 over windfall tax.
The move of windfall tax in last month's budget was aimed at helping fund support for British consumers hit by rocketing energy bills.
EU gives US$131 million to WHO Universal Health Coverage Partnership
GENEVA, SWITZERLAND - The World Health Organization (WHO) and the European Commission agreed on reinforcing a decade-long collaboration to accelerate...EU contribution will focus on strengthening health systems to make them more resilient and responsive to natural, climate or human-made disasters.
The partnership with WHO is a key deliverable of the new EU Global Health Strategy adopted by the European Commission.
OPEC set to stick or cut more amid plan to cap Russian oil price
LONDON, UNITED KINGDOM - Major oil producers are expected to stick to their current output strategy or even slash production...In October the OPEC+ agreed to reduce output by two million barrels per day (bpd) from November.
Since the October meeting, oil prices have been plummeting to their level of early 2022, far from the peaks above $130 a barrel in March
Jordan cabinet approves 2023 draft budget law
Council of Ministers okayed a draft law amending the real estate sale tax law for 2022, aimed at stimulating investment...Council of Ministers okayed a draft law amending the real estate sale tax law for 2022, aimed at stimulating investment in the sector
Cabinet also approved a draft law amending Jordanian Nationality Law for 2022 to align texts related to nationality restoration
Rising inflation, falling wages threaten increased poverty: ILO
Global monthly wages fell in real terms to -0.9 per cent in the first half of the year, the study...Global monthly wages fell in real terms to -0.9 per cent in the first half of the year, the study found
The purchasing power of middle-class families has been reduced, while low-income households have been hit particularly hard
Eurozone’s unemployment drops to record low
The reading -- the lowest since Eurostat started compiling jobless figures in April 1998 -- was an indicator that the...Eurostat estimated that, for the entire 27-nation European Union, 12.95 million adults were unemployed in October
Younger people had the highest unemployment rate in the EU and its eurozone, at 15.1 percent and 15.0 percent respectively
Lebanon MPs again fail to elect President for 8th time
Lawmakers in crisis-hit Lebanon failed to elect a new president for an eighth time, despite the deepening impact of the...Parliament is split between supporters of the powerful Iran-backed Hezbollah movement and its opponents, neither of whom have a clear majority.
Lawmaker Michel Moawad, who is seen as close to the United States, won the support of 37 lawmakers.
US trade subsidies create unlevel playing field with Europe, says Macron
French President Emmanuel Macron repeated his frustration with US subsidies, saying they were hurting European companies by providing an unfair...Macron said that US industrial subsidies, which are part of Biden's huge green energy initiatives, are "super aggressive" towards European business.
While Washington and Paris were "working closely together" on geopolitics and opposing Russia in its invasion of Ukraine, trade tensions remained, Macron said.
