India’s top court strikes down anonymous election funding scheme
Prime Minister Narendra Modi's party has defended electoral bonds, arguing that because the electoral bond donations are channelled through the...Economy
Saudi Arabia enacts law to safeguard whistle-blowers and witnesses
Riyadh, Saudi Arabia - Saudi Arabia on Tuesday granted approval for the law for the protection of whistleblowers, witnesses, experts,...Economy
TSMC Q3 revenue at US$19.4bn
The firm operates the world's largest silicon wafer factories.The Taiwanese firm controls more than half of global foundry output, with clients including Apple and Qualcomm.
TSMC produces some of the most advanced and smallest chips which are still highly sought after and in short supply.
Samsung expects 31.7 percent decline in Q3 profit
The South Korean tech giant, Samsung Electronic, has said that it expects operating profits in the third quarter to fall...Operating profit for July to September was predicted to reach 10.8 trillion won ($7.7 billion), down 31.7 percent
The global economy is now facing multiple challenges, including soaring inflation, rising interest rates, and a growing threat of a broad debt crisis
Jordan and Iraq set up electrical project on the border
The two prime ministers affirmed that Jordan and Iraq maintain historical and strategic ties and are committed to expanding bilateral...Prime Minister of Jordan Bisher Khasawneh and his Iraqi counterpart, Mustafa Kazemi laid the cornerstone for the electrical interconnection project
Khasawneh stressed that Jordan's leadership, government, and people are committed to supporting the security of Iraq and improving the country's stability, prosperity, and progress
Algerian, Spanish gas firms agree to ‘revise’ prices
The Algerian firm said in a statement that Sonatrach and its partner Naturgy have agreed to revise the prices of...Algeria, Africa's top natural gas exporter, has signed a flurry of deals with southern European governments and energy firms seeking to offset the Ukraine war fallout
Spanish gas regulator Enagas says Algeria was the country's second gas supplier (24 percent) in August, behind the United States (26.5 percent)
Fed official says US to see more interest rate hikes
With US inflation soaring new heights, the country's central bank has said more increases are likely to come this year...Prices have surged over the past year, partly due to global supply chain problems that created shortages of key parts
The situation was exacerbated with Russia's invasion of Ukraine in February, spurring a surge in energy prices and affecting global food markets
UAE becomes a growing business, brand hub, followed by Saudi Arabia
To draw firms from around the world, the UAE and KSA have been working hard over past few years to...The UAE and Saudi Arabia have been developing infrastructure on par with developed nations to attract businesses from around the world
Dubai is also great for businesses from the rest of the globe because it is relatively simple to register a property, obtain building licenses, and enforce contracts
IMF chief urges action as global recession risks rise
IMF chief Kristalina Georgieva urged global policymakers to take concerted action as the risks of a worldwide recession are driven...The IMF chief said that if central banks move too aggressively to tamp down price pressures, it could trigger a prolonged economic downturn.
Finance ministers and central bank governors from over 180 nations will gather in Washington for a meeting of the IMF and WB.
ADX adds 5 single stock futures
The move will help develop ADX derivatives market.The addition of new contracts has doubled the total number of derivative products on ADX to 10 in less than a year.
Market participants will be able to trade on leverage and hedge their equity exposure using these contracts.
Air travel rebounds but still suffering from pandemic
Air travel rose sharply in the northern hemisphere summer, traditionally the peak vacation travel season, but still remains considerably affected...Total air traffic in August soared up by two thirds from the same time last year, but was still only at 73.7 percent of its pre-Covid level.
Asia experienced the biggest rebound, where traffic more than tripled.
Lebanon years away from gas riches despite Israel deal: analysts
With the demand for gas rising worldwide because of an energy crisis sparked by Russia's invasion of Ukraine, Lebanon hopes...Following years of US-mediated negotiations, the rival states now appear to be nearing agreement
A deal would allow "offshore exploration activities to continue, but that doesn't mean that Lebanon has become rich
