Cuts by the Saudis, Iraq, UAE, Kuwait, Algeria and Oman from May to the end of the year will total more than one million barrels per day -- the biggest reduction since the OPEC+ cut 2 million bpd in Oct. A Saudi official called it a measure "aimed at supporting...

TOKYO, JAPAN -  Japan on Friday unveiled planned export controls on 23 items used to make semiconductors, following US pressure for countries to restrict Chinese access to the technology. The move was immediately slammed by Beijing, which warned against moves that "politicize, instrumentalize and weaponize" trade. It comes as Tokyo confirmed...

The country has seen a surge in demand for travel, entertainment and other leisure services that were curbed for nearly three years during the pandemic. China's new premier Li Qiang said Thursday the economy was showing "strong momentum" despite a challenging global environment, pledging increased support for business.

Riyadh, Saudi Arabia -- Saudi Arabia has agreed to join the Shanghai Cooperation Organization as a "dialogue partner", state media reported on Wednesday, the latest indication of closer political ties with China. The Shanghai Cooperation Organization was established in 2001 as a political, economic and security organization to rival Western institutions....

"Advancing the economic status of women and girls is not only a matter of human rights, justice, and fairness -- it is also a strategic imperative that reduces poverty and promotes sustainable economic growth," the office of US VP Kamala Harris said.

The complex is expected to be operational by 2026.

Riyadh's move to partner with the bloc comes less than three weeks after the unveiling of a landmark China-brokered reconciliation deal with Iran to restore full diplomatic relations that were severed seven years ago.

Each will be managed by its own CEO and board of directors.

In his first comments on the matter to be made public since the deal was struck, Xi said the dialogue promoted by China would "play a major role in strengthening regional unity and cooperation". Crown Prince Mohammed on Tuesday "expressed the Kingdom's appreciation for the Chinese initiative to support efforts...

Moscow, Russia--Russian oil sales to India surged more than twentyfold last year as European buyers turned to other markets following the conflict in Ukraine, Russia's deputy prime minister said Tuesday. Russia shifted its oil exports to India and China last year as European Union nations sought to end their reliance on...

The proposed meeting between Saudi Prince Faisal bin Farhan and Iranian Foreign Minister Hossein Amir-Abdollahian aims to implement a reconciliation deal brokered by China.

Beijing, China - Saudi Arabia's Aramco said it wants to be an all-inclusive source of energy and chemicals for China’s long-term energy security and China’s high-quality development. Amin H. Nasser, Aramco President and CEO, told the China Development Forum 2023 that the company is doubling down on China’s energy supply,...

Cook, who is in China to attend the high-profile China Development Forum, said "Apple and China grew together," during an interview on the role of technology in education.

Ottawa, Canada--US President Joe Biden on Friday said he believed China has not sent arms to Russia after President Vladimir Putin's forces invaded Ukraine. "I've been hearing now for the past three months (that) China is going to provide significant weapons to Russia... They haven't yet. Doesn't mean they won't, but...

Face-to-face talks between Biden and Trudeau covered a range of areas where both sides are pushing for improvements. A joint statement said that Biden and Trudeau agreed to modernizing their countries' joint air defense alliance, NORAD, with Canada putting billions of dollars into improved radar and fighter aircraft infrastructure.

A flurry of Chinese companies including Alibaba, JD.com, Netease and TikTok-parent Bytedance have rushed to develop services that can mimic human speech since San Francisco-based OpenAI launched ChatGPT in November, sparking a gold rush in the market.Google on Tuesday invited people in the United States and Britain to test its...

Putin called the talks with Chinese president "meaningful and frank" and said that Russia, which has been largely cut out of European markets because of sanctions, would be able to meet China's "growing demand" for energy. Xi's trip coincides with a surprise visit to Kyiv by Japanese Prime Minister Fumio...

But US officials and experts say that China's diplomacy is not so much about ending the war as an attempt to change the narrative. Xi "would like to be seen and be taken seriously as a peacemaker," said Robert Daly, director of the Wilson Center's Kissinger Institute on China.

The head of the Western military alliance said he welcomed any proposals that could lead to a "just and sustainable peace". He said China's paper included some positive elements, including emphasising nuclear safety, protecting civilians and territorial integrity.

International Monetary Fund predicts economic growth in the Middle East and North Africa will fall to 3.2% this year from 5.4% in 2022, before rising to 3.5% next year.

China has urged the International Criminal Court to respect immunity for heads of state and to avoid what it called "double standards". Last week the tribunal issued an arrest warrant for Russian leader Vladimir Putin on war crimes charges. China is not a signatory to the Rome Statute, the UN...

New Delhi, India--Japanese Prime Minister Fumio Kishida arrived in India on Monday for talks expected to focus on deepening trade and technology ties as well as shared concern about China. India and Japan along with the United States and Australia make up the Quad alliance, which positions itself as a bulwark...

The mutual investments between the two countries are witnessing continuous growth in various economic and commercial sectors, most notably real estate, logistical transportation, storage, financial services, insurance activities, manufacturing and information technology.

Xi is pushing for a greater role for China on the global stage and rumours that he may soon hold his first call with Ukrainian President Volodymyr Zelensky have raised hopes in Western capitals that Xi may lean on his "old friend" Putin to stop his bloody invasion during the...

The degree of anger and sympathy for the protesters, particularly among the American and European public, makes it near impossible to reach a nuclear deal, believes Vali Reza Nasr.

The ultimatum to TikTok came from the US interagency board charged with assessing risks foreign investments represent to national security. Western powers, including the European Union and the United States, have been taking an increasingly tough approach to the app, citing fears that user data could be used or abused...

China, Iran, and Russia are conducting a five-day trilateral naval exercise, Security Belt-2023, in the Gulf of Oman, according to media reports.  China's Defense Ministry, in a statement, said the exercises will conclude on Sunday and will include the participation of China's guided-missile destroyer Nanning, which will engage in activities...

The initial conversation between Xi and Mohammed bin Salman took place during bilateral talks at a summit in Riyadh in December, an official told AFP. Several other meetings also laid the groundwork for last week's talks in Beijing, the official said.

"Dear Mr President, I am very glad to see you in Moscow. Thank you for accepting our invitation," Putin told Assad at the start of their meeting broadcast by state TV. "We are in constant contact and our relations are developing."

Vienna, Austria  – The Organisation of the Petroleum Exporting Countries (OPEC) projected oil demand to grow by a healthy 2.3 mb/d YoY in 2023 to average at 101.9 mb/d, driven by the ongoing recovery in the travel and transportation sectors. “Following estimated growth of 2.5 mb/d y-oy in 2022, oil...

The world is facing a new environment where powerful global leaders and corporate leaders are creating uncertainty and risk, Eurasia Group chief Ian Bremmer tells TRENDS.

The Chinese government’s desire to avoid making the same mistakes other governments and central banks have made has driven inflation to a four-decade high. Development consumers are now suffering the consequences as central banks increasingly apply their interest rate weapon to bring inflation under control, he adds.

Iran said it would welcome restoring ties with Bahrain to end seven years of ruptured relations, following the China-brokered deal to heal rifts between Tehran and Riyadh. "The resumption of relations between Iran and Saudi Arabia shows the effectiveness of the diplomatic solution to resolve misunderstandings," said Iran's foreign ministry...

Beijing, China--China's new premier warned Monday that the country's five-percent growth target for 2023 would not be "easy" to achieve, as its rubber-stamp parliament wrapped up over a week of meetings. The government set the economic growth target of "around five percent" this month, one of the lowest in decades as China...

Cairo, Egypt--Egypt’s export to China increased by 20.8 percent to $1.7 billion in the first 11 months of 2022, compared to $1.4 billion in the same period in 2021, according to Egypt’s Central Agency for Public Mobilization and Statistics, also known as CAPMAS.  Egypt’s imports from China totaled $13.2 billion...

Significant technology development is going on in the climate space in the UAE, distinguished Professor Laura D'Andrea Tyson tells TRENDS in an interview.

The price drop is seen as a direct response to cuts by Tesla.

TEHRAN, IRAN - Iran's judiciary on Sunday confirmed a death sentence for a Swedish-Iranian dissident for "terrorism" over two years since his disappearance at an airport in Turkey, the judiciary's Mizan Online website reported. Habib Chaab has been held in Iran since October 2020 after he vanished during a visit to...

Cairo, Egypt -- Egyptian exports to China rose by 20.8 percent to $1.7 billion in the first 11 months of 2022, up from $1.4 billion in the same period in 2021, Egypt's Central Agency for Public Mobilization and Statistics (CAPMAS) said. The trade exchange between Egypt and China increased by...

Abu Dhabi, UAE--Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation has made a phone call to Prince Faisal bin Farhan bin Abdullah, Minister of Foreign Affairs of the Kingdom of Saudi Arabia, during which he expressed the UAE's welcome of the Riyadh and Tehran agreement...

The Chinese government has confirmed Yi Gang as governor of the People's Bank of China, against expectations that retirement-age Yi would step down, besides retaining other important top economic officials. The cabinet faces the task of revitalizing the Chinese economy, which last year expanded just three percent.

Li Qiang, one of Chinese President Xi Jinping's trusted allies, was confirmed as premier, as Xi cements his influence on the country's leadership. Li, the former Shanghai party chief who oversaw the city's two-month lockdown last spring, was named the successor of outgoing premier Li Keqiang at a meeting of...

Surprise Saudi-Iran detente, midwifed by China, has gone against the drift of Austin’s visit to the Middle East which was largely premised on an abiding antagonism between the two countries.

Riyadh cut ties with Tehran after Iranian protesters attacked Saudi diplomatic missions in the Islamic republic in 2016 following the Saudi execution of Shiite cleric Nimr al-Nimr. The two countries also agreed to activate the security cooperation agreement signed in 2001.

The 69-year-old has weathered widespread protests over his zero-Covid policy and the deaths of countless people after its abandonment. But those issues have been avoided at this week's National People's Congress (NPC), a carefully choreographed event that is also set to appoint Xi ally Li Qiang as the new premier.

China's consumer price inflation last month fell to its lowest level in a year, official data showed Thursday, as the country emerged from strict pandemic controls and a Lunar New Year spending binge. February's consumer price index (CPI) - the main gauge of inflation - rose one percent, down from...

The company likely to buy 20 percent stake.

A broad restructuring document announced by China's cabinet on Tuesday intends to focus the Ministry of Science and Technology's resources on coordinating "scientific and technological achievements." The plan also replaces China's existing banking and insurance regulator with a new body incorporating some functions from its central bank and securities watchdog,...

Students are also using ChatGPT to bypass China's lucrative English language test prep industry, in which applicants learn thousands of words by rote with expensive tutors ahead of the exams needed to enter colleges in the United States, United Kingdom or Australia. "I didn't want to memorise word lists or...

Dubai, UAE -- DP World’s Jebel Ali Free Zone (Jafza) witnessed the highest customer registrations in a decade in 2022, marking a 30 percent year-on-year growth, and taking the total number of companies to over 9,500. During the past 10 years, Jafza has seen a 13-fold increase in logistics customers,...