Global oil supply hit record high in August: IEA
Paris, France -- Global oil supply hit a record high in August as OPEC+ and other countries ramped up production,...Business Economy
Saudi launches Damascus area reconstruction project
Saudi Arabia announced on Sunday humanitarian projects for Syria including the removal of wartime rubble around Damascus, weeks after inking...Economy
Trump admin unveils AI strategy to maintain US dominance
The 25-page "America's AI Action Plan" outlines three aims: accelerating innovation, building infrastructure, and leading internationally on AI. Overall, the...According to US media reports, Trump was also to announce a series of executive orders to give key components of the plan additional legal weight.
AI "challenges America to build vastly greater energy generation than we have today," the plan said.
Trump announces ‘massive’ Japan trade deal including 15% tariff
US President Donald Trump announced Tuesday a "massive" trade deal with Japan, cutting a threatened 25-percent tariff to 15 percent...Trump has vowed to hit dozens of countries with punitive tariffs if they don't strike a deal with the United States by next month
So far, Trump has only announced pacts with Japan, Britain, Vietnam, the Philippines and Indonesia, while talks continue with other trade partners
91% of new renewable projects now cheaper than fossil fuels alternatives
Abu Dhabi, UAE -- Renewables maintain their cost leadership in global power markets, IRENA’s new report on Renewable Power Generation...IRENA’s new report confirms renewables maintained their price advantage over fossil fuels, with cost declines driven by technological innovation.
In 2024, solar photovoltaics (PV) were, on average, 41 percent cheaper than the lowest-cost fossil fuel alternatives, while onshore wind projects were 53 percent cheaper.
Global gas flaring surges again, costs $63bn in lost energy: WB
Washington, UAE -- Global gas flaring surged for a second year in a row, wasting about $63 billion in lost...Flaring, the practice of burning natural gas during oil extraction, reached 151 billion cubic meters (bcm) in 2024, up 3 bcm from the previous year.
While some countries have reduced flaring, the top nine largest-flaring countries continue to account for three-quarters of all flaring.
Turkey parliament passes contentious mining legislation
Turkey's parliament on Saturday passed a controversial bill that opens certain agricultural lands including olive groves to mining activities, local...The bill, part of a broader package proposed by President Recep Tayyip Erdogan's ruling AKP party, sparked protests from opposition parties and environmental groups
Farmers from across Turkey have gathered outside parliament over the past two weeks, urging the government to withdraw the draft, with some starting a hunger strike this week
G20 nations agree central bank independence ‘crucial’
The statement came after months of escalating attacks by US President Donald Trump on Federal Reserve boss Jerome Powell. The...This week he suggested he could be dismissed for "fraud" over his handling of a renovation project at the Federal Reserve headquarters.
The G20 is made up of 19 nations and two regional organizations and its members account for more than 80 percent of the world's economic output.
Global markets rise as Trump weighs future of Fed boss
US indices were near record highs two hours into the Wall Street session with all eyes on an incoming earnings...The rises came on the back of a better-than-expected US retail sales report and a round of mostly solid corporate earnings.
Market observers have been carefully watching reports that US President Donald Trump, fresh from unveiling new tariff threats, could sack Powell.
AI-powered ‘nudify’ apps fuel deadly wave of digital blackmail
Washington, United States - After a Kentucky teenager died by suicide this year, his parents discovered he had received threatening...The tragedy underscores how so-called sextortion scams targeting children are growing around the world, particularly with the rapid proliferation of "nudify" apps
Elijah Heacock, 16, was just one of thousands of American minors targeted by such digital blackmail, which has spurred calls for more action from tech platforms
Trump to unveil investments to power AI boom
Washington, United States - US President Donald Trump heads to Pennsylvania on Tuesday to announce energy and infrastructure deals intended...Trump will make the announcement at the inaugural Pennsylvania Energy and Innovation Summit at Carnegie Mellon University
The tech world has fully embraced generative AI as the next wave of technology, but fears are growing that its massive electricity needs cannot be met by current infrastructure
Macron calls on EU to ‘defend European interests’ in US tariff talks
French President Emmanuel Macron on Saturday condemned US President Donald Trump's threat to impose 30-percent tariffs on the European Union,...US President Donald Trump on Saturday warned that Mexico and the EU would be slapped with 30-percent tariffs starting on August 1
Expressing France's "very strong disapproval" of the announcement, Macron called on the bloc to "step up the preparation of credible countermeasures
