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Boeing to cut 10% of workforce

The company has projected a large third-quarter loss.

AviLease acquires 9 aircraft from Avolon

AviLease had purchased 13 aircraft from Avolon in 2023.

ADNOC L&S to pay $136.5m dividend

This is equivalent to 6.78 fils per share, the company said.

‘TAQA’ prices $1.75bn dual tranche

The 12-year senior unsecured notes are sized $850m.

Samsung says planning job cuts

The layoffs could affect about 10 percent of the workforce.
  • Tunisia farmers stare at poor harvest as drought imperils food security

    Even before the roasting summer months, the soil is dry and dusty in the small Mediterranean country, whose water resources...

    At a time when the global cereals market has been disrupted by Ukraine war, Tunisia's domestic grain production has also withered under a lack of rainfall that has killed off crops

    UTAP has called on the government to urgently announce a drought and state of water "emergency" and has demanded a "clear strategy" to boost Tunisia's water reserves

  • Syria to reopen Tunisia embassy after more than 10 years

    Tunisia's Saied had said last month he planned to restore diplomatic relations with Syria. Tunisia expelled Syria's ambassador in 2012...

    Syria's decision followed a similar move by Tunis on April 3, when Tunisian President instructed his foreign minister to appoint an ambassador to Damascus

    Since the quake, Syrian President Bashar al-Assad has received calls and aid from Arab leaders, momentum analysts say he could leverage to bolster regional support

  • Qatar, Bahrain to restore ties as Middle East’s push for peace gains pace

    In 2017, Bahrain joined Saudi Arabia, the United Arab Emirates and Egypt in imposing a diplomatic blockade on Qatar. The...

    Qatar's foreign ministry said that the neighbors "decided to restore diplomatic relations between the two countries" as per the UN's charter

    The two countries' relations have been more difficult to restore because of many thorny issues including their maritime border

  • Saudi Deputy Foreign Minister Walid Al Khuraiji, right, receives Syrian Foreign Minister Faisal Mekdad upon his arrival at the airport of Jeddah, Saudi Arabia. (SPA)

    Historic talks: Syrian and Saudi ministers discuss steps to resolve ongoing crisis in Syria

    It's raining peace in the Arab world. Saudi Arabia has taken lead in normalizing ties with countries such as Turkey,...

    Saudi Arabia is also negotiating with Yemen's Iran-backed Houthi rebels, eight years after launching a military intervention aimed at dislodging them from power.

    Riyadh broke off relations in 2016 after Iranian protesters attacked Saudi diplomatic missions following the execution of Saudi Shiite cleric Nimr al-Nimr.

  • Egypt’s Sisi meets UAE leader amid economic woes

    Cairo's foreign reserves fell by about 20 percent in one year to $34.45 billion -- about $28 billion of which...

    Sisi has been courting Gulf leaders as Egypt grapples with economic turmoil that has seen inflation shoot up to nearly 34% and the local currency halve in value

    Egypt was hit hard by the impact of Russia's invasion of Ukraine last year, having heavily relied in wheat imports and revenues from tourism from both countries

  • Interest rate hikes adversely affect developing countries, says UN

    The global economic slowdown and swelling interest rates are pummeling debt-ridden developing countries, the UN warned, urging bold global action...

    Rate increases in the US and other wealthy countries may cost developing countries over US$800 billion in lost income by 2025.

    UNCTAD said it now expected global GDP growth of 2.1 percent in 2023, down from 2.2 percent it forecast in September last year.

  • Global debt growing due to US, China, says IMF 

    Global government debt is on track to reach levels not seen since the height of the COVID-19 pandemic, the International...

    In the US, government debt as a percentage of economic output is expected to surpass its pandemic-era peak by 2027.

    China's debt burden is forecast to be almost double its pre-pandemic levels by 2028, the IMF said.

  • Saudi Crown Prince receives US NSA call amid advancing Saudi-Iran detente

    The two leaders talked about de-escalation in the region and maintaining deterrence against threats from Iran and elsewhere.

    Sullivan commended the progress made in Yemen over the past year and welcomed Saudi efforts towards a roadmap for ending the conflict

    The two leaders also talked about de-escalation in the region and maintaining deterrence against threats from Iran and elsewhere

  • Facing criminal charges, Trump vows to ‘never’ drop presidential bid

    The Republican real estate magnate, who is facing 34 felony counts in New York over alleged hush money paid to...

    Trump, 76, in his first major interview since being arrested last week, cast doubt on whether Democrat Biden, 80, would be in the 2024 race

    Right wing outlets like Fox News frequently highlight Joe Biden's verbal flubs, and moments where he appears to have lost his train of thought

  • UAE Federal National Council speaker, Chinese Ambassador, discuss bilateral ties

    Abu Dhabi, UAE -- Speaker of the UAE Federal National Council (FNC) Saqr Ghobash, and the Chinese Ambassador to the...

    The two sides discussed a range of issues of mutual concerns, and ways of developing the overall bilateral ties between the two countries

    Ghobash said that the bilateral cooperation between the UAE and China is a model of an ideal partnership based on friendship and mutual respect