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TAQA Q1 net income $571m

Net income fell $2.58bn due to one-off items recognized in 2023.

QatarEnergy buys stake in Egypt blocks

It did not disclose the cost of the agreement.

TSMC’s April revenue up 60%

It capitalized on huge wave of demand for chips used in AI hardware.

Etihad reports record Q1 profit

Total revenue increased by $269 million in the same period.

Aramco Q1 profit down 14.5%

Despite lower profit, it will pay $31bn in dividends to Saudi government.
  • Gaza, UN, security council, israel

    UN Security Council to vote this Thursday on full Palestinian membership

    Against the backdrop of the grinding conflict in Gaza, a city largely devastated by more than six months of war and a siege on its 2.4 million people, the Security Council is expected to take up the matter of full Palestinian UN membership this Thursday, several diplomatic sources told AFP....
  • Qatar and EU discuss ways to enhance economic and trade ties

    Doha, Qatar-- Qatar and European Union have discussed means to enhance economic and commercial relations in a meeting between Qatar Chamber First Vice-Chairman Mohamed bin Twar Al Kuwari and Thomas Jurgensen, Minister Counselor and the new head of Trade and Economic Affairs Section at the European Union During their meeting...
  • EU to expand sanctions on Iran over protest crackdown

    The EU will impose new sanctions on 37 Iranian officials and organizations over the crackdown on protests, but is still debating listing the Revolutionary Guard as a "terrorist" group, diplomats said. Foreign ministers from the bloc are to agree to adopt the fourth package of sanctions on Tehran over its...
  • Iranian diaspora demand EU blacklisting of Revolutionary Guards

    Pressure is growing among opposition exiles and activists for the European Union and United Kingdom to follow the United States and blacklist the Guards over the crackdown on the four months of protests since the death of Mahsa Amini in September.
  • EU warns TikTok chief to respect data privacy laws

    TiKTok chief executive Shou Zi Chew held official talks for the first time with EU vice presidents Margrethe Vestager and Vera Jourova, the bloc's home affairs commissioner Ylva Johansson and justice commissioner Didier Reynders.
  • 2022 fifth warmest year on record, EU climate report says

    The last eight years were the warmest. Average temperatures across 2022 -- which saw a cascade of unprecedented natural disasters made more likely and deadly by climate change -- make it the fifth warmest year since records began in the 19th century, according to the Copernicus Climate Change Service.
  • Iran executes two more men in connection with protests

    PARIS, FRANCE -  Iran on Saturday executed two men for killing a paramilitary force member during unprecedented protests sparked by the death in custody of a young woman. The latest hangings double the number of executions to four over the nationwide protests, which escalated since mid-September into calls for an end...
  • Gas prices fall to lowest level in Europe since Ukraine war

    EU nations have adopted a mechanism to cap natural gas prices, but analysts say it will likely have only a limited impact on reducing what businesses and households pay.
  • Singapore economy grows more than expected in 2022

    Growth in the fourth quarter came in at 2.2 percent, sharply down from 4.2 percent in July-September, according to advance estimates by the trade ministry.
  • Croatia embraces euro, joins borderless Europe club

    Experts say the adoption of the euro will help shield Croatia's economy at a time when inflation is soaring worldwide after Russia's invasion of Ukraine sent food and fuel prices through the roof.
  • Two years after EU exit, UK business feels Brexit blues

    Complicating matters has been the loss of EU workers in sectors such as health, hospitality and agriculture, even if some of those returning home have been replaced by staff from non-EU countries. Witnessing the fallout, some high-profile bosses who voted for Brexit are calling on the government to relax the...
  • Gas giant Algeria slams EU gas price cap

    Algeria "doesn't support the idea of limiting prices", Energy Minister Mohamed Arkab said, speaking a day after EU energy ministers agreed a temporary ceiling to mitigate a severe energy crunch following Russia's invasion of Ukraine. "Energy markets must stay free so upstream" investments can continue, he told a press conference,...
  • Iran, EU diplomatic heads meet at Jordan summit

    SWEIMEH, JORDAN - Iran's Foreign Minister Hossein Amir-Abdollahian met Tuesday with EU foreign policy chief Josep Borrell on the sidelines of a summit in Jordan, an Iranian diplomatic source said. The meeting, which was confirmed by Iran's official news agency IRNA, comes at a time when negotiations in Vienna aimed at...
  • Iran says Jordan summit is a good opportunity for nuclear talks

    TEHRAN, IRAN - Iran's foreign minister said Monday that a summit to take place this week in Jordan will be a "good opportunity" for negotiations aimed at restoring the 2015 nuclear accord. On-off talks to revive the deal, formally known as the Joint Comprehensive Plan of Action (JCPOA), started in April...
  • Elon Musk to restore suspended Twitter accounts of journalists

    Elon Musk said late Friday he would reinstate the Twitter accounts of several journalists that were suspended after he accused them of endangering his family. Musk carried out a Twitter poll asking whether he should restore the suspended accounts now or in a week's time. Nearly 59 percent of the...
  • EU energy ministers push gas price talks into next week

    Gas prices are high, albeit lower than during the middle of the year, spurring worries that European homes and businesses could face blackouts or unpayable bills, if not this winter then next.
  • Tweet sparks Musk fever in EU’s poorest corner

    The Tesla, SpaceX and now Twitter boss -- who is not immune to bouts of online whimsy -- recently commented on an image of the towering Belogradchik Rocks in northwestern Bulgaria under menacing clouds.
  • OPEC likely to hold oil output levels steady

    Vienna, Austria— Major oil-producing countries led by Saudi Arabia and Russia look set to maintain their current output levels at a meeting Sunday, ahead of fresh sanctions against Moscow coming into force. The 13-member Organization of the Petroleum Exporting Countries (OPEC) is due to consult with 10 other oil-producing nations, including...
  • Ukraine welcomes Russian oil price cap agreed by EU, G7

    Ukraine welcomed a US$60 price cap on Russian oil agreed by the EU, G7 and Australia, saying it would "destroy" Russia's economy. The price cap, previously negotiated on a political level between the G7 group and the European Union, will come into effect with an EU embargo on Russian crude...
  • G7, EU agree oil price cap to reduce Russia war funding

    The price cap is designed to make it harder to bypass the sanctions by selling beyond the EU. Poland's ambassador Andrzej Sados also said Brussels would take into account Polish and Baltic state suggestions for a "painful and expensive" ninth round of sanctions against Moscow. The White House described the...
  • 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 further when they meet on Sunday in the face of falling prices, a potential Russian oil price cap and an embargo on Russian crude shipments. At their last ministerial session...
  • EU uncovers US$2.3-billion cross-border tax fraud

    The EU announced the discovery of a sophisticated US$2.3-billion VAT tax fraud that triggered raids in 14 countries, including France, Germany, Greece and Spain. Over 600 people participated in the scheme, "believed to be the biggest VAT carousel fraud ever investigated in the EU," according to the European Public Prosecutor's...
  • EU spent €15.2bn on imports of green energy products last year

    The trading bloc also exported green energy products worth €6.5 billion to countries outside the EU.
  • European Education Area to take EU-UAE learning cooperation to the next level, says top official

    It will open opportunities for Emirati youth to study in European Union, further strengthening the existing people-to-people ties, adds Margaritis Schinas, Vice-President of the European Commission for “Promoting Our European Way of Life”, who was on an official trip to the UAE.
  • Faroe Islands renew fishing quota deal with Russia

    COPENHAGEN, DENMARK - Denmark's autonomous Faroe Islands have renewed a fishing quota deal with Russia for one year despite Moscow's invasion of Ukraine, a local minister said on Saturday. "The Faroe Islands are totally right to extend their existing fishing agreement with Russia," the North Atlantic archipelago's minister of fisheries...
  • GCC renews commitment to strengthen ties with EU

    Manama, Bahrain—The Gulf Cooperation Council (GCC) has stressed the importance of strengthening ties between the GCC and the European Union (EU) in order to "serve common interests." The Secretary-General of GCC, Dr. Naif Falah Mubarak Al-Hajraf, met with the President of the European Commission Ursula von der Leyen in the...
  • European Film Festival commences at Haya Cultural Center in Amman

    Amman, Jordan— Intended to open up a space for intercultural cooperation, the 34th edition of the European Film Festival (EUFF) began at the Haya Cultural Center in Amman. Speaking at the opening ceremony, EU Ambassador to Jordan Maria Hadjitheodosiou said the 34th edition of the European Film Festival, the longest-running...
  • EU to shore up Tunisia economy with US$100m grant

    In order to shore up its economy battered by the Covid pandemic and political turmoil, the EU has signed off on a $103 million grant to cash-strapped Tunisia. The grant, according to EU, aims to support economic recovery efforts and consolidate the progress already made in distributing social aid.
  • Germany says EU will adopt new sanctions against Iran

    Designed as a punishment for the government of Iran, the EU will likely adopt new sanctions against the Islamic republic next week over its deadly crackdown on protests in the country. The German foreign minister said that the bloc will not let up and that "it stands with the men...
  • EU presidency says sanctions may next target Belarus

    The Czech prime minister, whose country holds the rotating EU presidency, said the bloc may look at sanctions on Belarus over its role in the war in Ukraine. Minsk allows Russian troops to be stationed in Belarus and stage attacks on Ukraine from there, though it insists it does not...
  • Europe’s gas storage reserves now at over 90 percent

    With prices falling and ports clogged with liquefied natural gas tankers, fears of a winter heating crisis in Europe have eased but experts are warning against complacency. For over a week now, there have been bottlenecks at Spanish ports of ships bringing in LNG, indicating Europe is at full capacity.
  • Ukraine blames Russian blockade for making grain export ‘impossible’

    Russia's blockade of grain exports makes it "impossible" for fully loaded ships to leave port, Ukraine charged after Moscow claimed drone attacks on its Crimea fleet had exploited the grain corridor safe zone. Kyiv's maritime grain exports were halted after Russia pulled out of a landmark agreement that allowed the...
  • Most markets up but China fear casts shadow

    Most markets rose on hopes the Federal Reserve would soon slow its pace of interest rate hikes, though the mood was darkened over China after President Xi Jinping tightened his grip on power. The yen weakened against the dollar after a short rally after speculation Japanese authorities had stepped into...
  • Eurozone downturn deepens as Germany heads for recession

    Economic activity in the eurozone plummeted further in October and Germany, the EU's top economy, looks headed for a recession, a closely watched survey showed Monday.
  • Morocco and EU sign ‘green partnership’ deal

    Aiming to bolster cooperation on renewable energy, Morocco and the European Union have signed a "green partnership" deal in order to offer alternatives for European nations that are trying to wean themselves off fossil fuels, whose prices have soared in the wake of Russia's invasion of Ukraine.
  • Markets climb on bright US earnings, UK policy U-turns

    Major global equities rose, with sentiment soothed after upbeat US earnings and Britain shredded its controversial budget. Analysts pointed to better-than-expected reports from Goldman Sachs and Johnson & Johnson as a positive driver for stocks. On Wall Street, the Dow Jones jumped two percent after a day of strong trading...
  • Will immediately respond to new EU sanctions, says Iran

    Iran vowed an "immediate" response to the European Union as it prepares new sanctions on the Islamic republic after over a month of protests sparked by Mahsa Amini's death. EU foreign ministers met to adopt sanctions on Iran after Amini was detained for allegedly breaching Iran's strict dress code for...
  • US climate spending could spark tariff war, says Scholz

    German Chancellor Olaf Scholz criticized US climate protection plans that would shield domestic companies from foreign competition, saying they could trigger "a huge tariff war". Unease has been growing abroad about US President Joe Biden's landmark "Inflation Reduction Act", which includes tax breaks for US-made electric cars and batteries.
  • French PM leads delegation to Algeria as ties improve

    French Prime Minister Elisabeth Borne starts a visit to Algeria with a top-level delegation, pushing for better ties with the former French colony and major gas exporter. Her two-day trip along with 16 ministers comes just six weeks after President Emmanuel Macron concluded a three-day visit aimed at ending months...
  • EU leaders try for common response to energy crisis

    EU leaders meeting in Prague looked to bridge divisions on how to tackle soaring energy prices as they grapple with the fallout from Russia's war on Ukraine. President Volodymyr Zelensky was dialling in from Kyiv as the bloc looks to maintain its economic and military support for Ukraine and hold...
  • EU decides to cut power use, levy energy firms

    The EU executive believes it can raise €140 billion from the levies on non-gas electricity producers and on energy majors that are raking in outsized profits from the global energy demand.
  • EU proposes new sanctions on Russian exports

    The EU's executive proposed a new round of sanctions on Moscow over its latest "escalation" in Ukraine, including an oil price cap and ban on Russian exports worth $7 billion. It also plans to expand its travel blacklist and asset freezes to include high-ranking Russian officials and organizers of the...
  • EU to support Iraq in boosting economic activity in five sectors

    The European Union has shown interest to be part of the process of decentralization in Iraq and in this regard it is working in partnership with the Iraqi ministry of planning and other bodies in order to enhance activity in five sectors of the economy.
  • ‘More efforts needed for net zero carbon emissions by 2050’

    More efforts are required to make the world reach net zero emissions by mid-century, according to the International Energy Agency's (IEA) latest appraisal of global progress on clean energy technologies.
  • 61 dead in migrant shipwreck off Syria coast, says Lebanon

    At least 61 migrants drowned when a boat they boarded in Lebanon sank off Syria's coast, a Lebanese minister said, the deadliest such shipwreck from Lebanon in recent years.
  • ‘Hungary wants EU sanctions on Russia lifted by year end’

    Hungarian Prime Minister Viktor Orban wants EU sanctions on Russia over its invasion of Ukraine lifted by year end, a pro-government daily newspaper said. Orban, who has sought close ties with Russian President Vladimir Putin in recent years, has frequently railed against the sanctions, saying they are hurting Europe more...
  • Europe throws billions at energy crisis

    Hundreds of billions of euros and counting have been shelled out so far since Russia invaded its pro-Western neighbor in late February. Governments have gone all out: from capping gas and electricity prices to rescuing struggling energy companies and providing direct aid to household to fill up their cars.
  • Putin accuses European Union of blocking Russian fertilizer

    Putin accused the European Union of blocking 300,000 tons of Russian fertilizer from reaching the world's poorest countries. "Our offer... to transfer for free 300,000 tons of Russian fertilizer blocked in European ports because of sanctions to countries that need it is still without an answer," he said.
  • European Union pledges €364m in grants to Jordan

    The aid packages include supporting human development, civil society, governance, institutional development and green transition.
  • Iran President seeks US guarantees to renew nuclear deal

    "We cannot trust the Americans because of the behavior that we have already seen from them. That is why if there is no guarantee, there is no trust," he told CBS News. Former president Barack Obama negotiated the agreement under which Iran drastically scaled back nuclear work in return for...
  • Stocks mostly slide; pound hits 37-year dollar low

    Stock markets mostly slumped Friday, while the British pound tanked to a 37-year dollar low as weak UK retail sales stoked global recession fears. Sterling slid to $1.1351, the lowest level since 1985, on news that British retail sales tumbled by far more than forecast in August as shoppers faced...