Abu Dhabi, UAE--The Organisation of the Petroleum Exporting Countries (OPEC) has called for increased investments in the oil industry to meet global energy demands and sustain economic growth. According to its secretary general, Haitham Al Ghais, these investments are crucial for ensuring reliable energy supplies for current and future generations....
Sanctions hit Russia, Iran to boost cooperation in energy and trade
Tehran and Moscow are seeking to expand cooperation in energy and trade, officials said Wednesday, as Russian Deputy Prime Minister Alexander Novak visited Iran. Both countries have huge oil and gas reserves but are constrained by sanctions imposed by the West that limit their ability to export their resources. Novak...
WHO members agree to overhaul health body’s funding
Shaken by the pandemic, the World Health Organization's member states agreed Tuesday to overhaul how they fund the UN health agency, giving it much more money to spend on its own priorities. The budget revamp is aimed at strengthening the organization and making it more agile when responding to global...Aggrieved workers drop lawsuit against Bangladeshi Nobel laureate
More than 100 lawsuits had been filed against GT by workers, along with three contempt-of-court charges against Yunus and another manager.Sri Lanka inflation hit seventh consecutive record high in April
Hammered by a foreign exchange crisis, the country's 22 million people have been enduring acute shortages of essentials.
Global ESG assets could reach $50 trillion by 2025 : PIF Governor
Global environmental, social, and governance assets are expected to hit $41 trillion by the end of this year, and $50 trillion by 2025, Yasir Al-Rumayyan, governor of the Saudi sovereign fund said. The growth in assets is due to the fact that Public Investment Fund continues to enhance ESG integration...Davos summit of global elites returns after two-year break
The Davos summit of global political and business elites returns Monday after a Covid-induced two-year break to face another momentous crisis: Russia's invasion of Ukraine.France sees no EU entry for Ukraine before ’15 or 20 years’
A bid by Ukraine to join the European Union would not be finalized for "15 or 20 years," France's Europe minister said Sunday, pouring cold water on Kyiv's hopes for quick entry in the wake of Russia's invasion. "We have to be honest. If you say Ukraine is going to...
Israel’s government in minority after Arab MP resigns from Knesset
The MP Zoabi said: "Again and again the heads of the coalition have taken hawkish, rigid and right-wing stances regarding basic issues of utmost importance for Arab society".IMF and Pakistan to discuss release of funds as economy falters
Pakistani Prime Minister Shehbaz Sharif, who took power with a coalition that removed Khan in a no-confidence vote last month, has vowed to jumpstart the moribund economyRussia may cut gas supplies to Finland over Ruble payment refusal
Russia may cut gas supplies to Finland soon over the Nordic country's refusal to pay Gazprom in rubles, Finnish state-owned Gasum said on Tuesday. Gasum said it would take its dispute with Gazprom Export to arbitration, a move that risks angering neighboring Russia further as Helsinki prepares to submit its...McDonald’s to exit Russian market
The company will sell its business in the increasingly isolated country.
e& buys stake in Vodafone
It bought a 9.8% stake for $4.4bn in the British firm.Somali MPs vote in prez election as famine threat looms
Somali lawmakers gathered in Mogadishu Sunday to vote in the country's long-overdue presidential election, with 35 candidates vying for the top job in the troubled Horn of Africa nation as it battles an Islamist insurgency and the threat of famine.
PIF launches Saudi Coffee Company
The Public Investment Fund (PIF) today announced the launch of the Saudi Coffee Company. The company is established to enable Saudi Arabia’s coffee bean to be a global product in the future.G7 criticizes India for its decision to ban wheat export
India, the world's second-largest wheat producer, said that factors including lower wheat production and sharply higher global prices because of the war meant that it was now worried about its own "food security"Finnish President speaks with Putin on NATO membership
Finnish President Sauli Niinisto spoke with his Russian counterpart Vladimir Putin on Saturday regarding the Nordic country's application for NATO membership, which is expected to be officially announced this weekend, his office said.Russian embargo won’t result in global oil dearth : IEA
The IEA said "steadily rising" output from the United States and Middle Eastern members of the OPEC+ oil cartel will help offset losses from Russia.Iran archeologists stand against antiquities trade bill
46 out of 290 MPs in Iran proposed the draft law earlier this week, dubbed the "optimal utilization of ancient objects and treasures"Iran says EU nuclear coordinator will visit this week
Enrique Mora has played a key role as an intermediary between the United States and Iran during a year of on-off talks in Vienna that have been at a standstill since March. He will meet with Ali Bagheri, Iran's chief nuclear negotiator, foreign ministry spokesman Saeed Khatibzadeh said at a...Arabian Travel Market 2022 kicks off in Dubai
The Chairman of Dubai World Sheikh Ahmed bin Saeed Al Maktoum, inaugurated the 29th edition of the Middle East’s largest travel and tourism exhibition Arabian Travel Market (ATM) on 9 May 2022.
French President says Ukraine could join EU after decades
Russia invaded Ukraine in February, in part to thwart Kyiv's tilt towards integration with the EU and NATO.Putin vows to repeat Russia’s World War II victory in Ukraine
Our sacred duty is to hold back the ideological successors of those who were defeated" in World War II, which Moscow dubs "the great patriotic war," said Putin, as he urged Russians to "take revenge"Civilians leave Azovstal as Ukraine fears fresh Russia offensive
Ukrainian President Volodymyr Zelensky said that hundreds of people had been removed from the Azovstal steel plant in Azov, and that preparations for a second stage of evacuation comprising the wounded and medics were under way.
Ukraine claims it sank Russia’s warship near Black Sea
The traditional parade of the Russian Black Sea fleet on May 9 this year will be held near Snake Island -- at the bottom of the sea," the Ukraine's defense ministry added
Indonesia seizes tanker for defying palm oil export ban
The Indonesian Navy has seized a tanker that was carrying palm oil out of the country in violation of an export ban, a spokesman said Saturday.WHO claims 13-16 million people died due to Covid in 2020-21
The WHO declared Covid an international public health emergency on January 30, 2020, after cases of the new coronavirus spread beyond China.
Inequality widens in Britain as financial sector salaries increase
Salaries in Britain's financial sector have surged in recent months, widening inequality amid the nation's cost-of-living crisis, a study showed Wednesday. Average monthly pay in the industry jumped 31 percent in February from December 2019, propelled by high-earners, the Institute for Fiscal studies (IFS) said in a report. The performance,...
Russia steps up Ukraine fight as EU braces for gas paucity
The United States has been warning that Russia is preparing to formally annex regions in Ukraine’s east, while the European Union has told member states to brace for a complete breakdown in Russian gas supplies as it prepared a new package sanctions.Russia warns of WW3 as West plans more arms for Ukraine
For months, Ukrainian President Volodymyr Zelensky has been asking Western allies for heavy weapons, vowing that his forces could turn the tide of the war with more firepower. The calls appear to be resonating now, with a host of NATO countries pledging to provide a range of heavy weapons and...
Rate hike fears and China lockdown drag down stocks
Stock markets sank Monday on growing concerns that lockdowns in China aimed at fighting a worsening Covid outbreak could threaten the country's economy and global supply chains. The losses extended a sell-off last week fueled by comments from Federal Reserve indicating officials will hike interest rates by half a point...UNRWA may end services to refugees due to funding crunch
United Nations Relief and Works Agency for Palestine Refugees (UNRWA) is facing a financial implosion for the last 10 years, which could cause an interruption or end of services to five million refugees.Saudi Arabia to host Global Cybersecurity Forum in November
The National Cybersecurity Authority is organizing the annual event under the theme Rethinking the Global Cyber Order.‘Bleed us dry’: Why tech platforms are facing rebellions
Tech platforms create walled gardens where buyers and sellers are protected from cybercriminals and fraudsters, and standards of quality are guaranteed.Hopes down for Easter truce in Ukraine as Russia presses on
Russian forces, which withdrew from around Kyiv and the north of Ukraine earlier this month after being frustrated in their attempts to take over the capital, already occupy much of the eastern Donbas region and the south.Global markets slide on Fed chief’s warning
Global stock markets slid Friday after the Federal Reserve warned of an aggressive tightening of monetary policy to tame runaway inflation. Wall Street was also glum shortly after the opening bell as the Dow sank 0.9 percent while the S&P index and the tech-rich Nasdaq were showing smaller losses.
Iran says ‘political’ issues still holding up nuclear deal
Iran said Wednesday that "technical issues" in the now-paused negotiations to restore its 2015 nuclear agreement with world powers have been resolved, but "political" issues persist ahead of concluding any deal.
Extreme climate changes could disturb global development, warns WGS
The report said that the climate state is rapidly aggravating poverty and instability, and is likely to amplify the economic burden on governments struggling to manage COVID-19
Policy eyed as Mideast bears brunt of climate change
Disasters caused by climate change since 2000 have killed approximately 2,600 people, affected seven million others, and caused $2 billion in direct material damage. It may have also reduced annual economic growth by 1-2 percentage points on a per-capita basis, it adds.European Space Agency cuts lunar mission cooperation with Russia
The European Space Agency on Wednesday ended cooperation with Russia on three missions to the Moon due to Moscow's invasion of Ukraine, following a previous decision to do the same for a Mars mission. The ESA said it would "discontinue cooperative activities" on Luna-25, 26 and 27, a series of...IMF unveils new trust to help ‘vulnerable’ countries
The IMF plans to raise at least $45 billion for a new trust to help ‘low-income and vulnerable middle-income countries’.Agencies urge urgent food insecurity action
Major international organizations issued an appeal on Wednesday for urgent measures to deal with rising food insecurity in poor countries.Sri Lanka declares $51 bn foreign debt as economic crisis worsens
Sri Lanka's snowballing economic crisis began to be felt after the coronavirus pandemic torpedoed vital revenue from tourism and remittances.US to keep Quds Force of Iran on terror list
The United States insisted Friday on keeping the elite Quds Force of Iran's Revolutionary Guards Corps on its designated list of terror groups, as Washington pushes on with negotiations to restore the 2015 Iran nuclear agreement.
Ukraine calls for ‘global response’ as train station attack kills 52
Russia denied being behind the missile strike, which came even as European Commission President Ursula von der Leyen and EU foreign policy chief Josep Borrell were visiting Kyiv for talks with Ukrainian President Volodymyr Zelensky and to visit the scene of civilian killings in the town of Bucha.Civilians try to flee east Ukraine as Russia prepares attack
More than 11 million people in Ukraine have been displaced since Russia invaded on February 24, aiming to seize the capital Kyiv. With that goal thwarted, it is instead trying to create a land link between occupied Crimea and Moscow-backed separatist statelets in Donbas.
Key Egypt activist in 2011 revolution begins hunger strike in prison
Abdel Fattah has spent the better part of the past decade behind bars, having also been arrested under former presidents Hosni Mubarak and Mohammed Morsi.EU plans to punish Russia more with sanctions on oil or coal
The EU is considering to hit Russia with sanctions on oil or coal over the war in Ukraine, a top official said on Tuesday, though some countries remain worried of the potential economic fallout.
Saudi Arabia adds two marine tankers to its naval fleet
The Public Transport Authority announced the launch of two new Saudi-flagged marine tankers: "Sara" and "Hessa". Both were recently registered at King Abdulaziz Port in Dammam. The new giant ships of the Saudi naval fleet, bring the tally of national ships carrying the Saudi flag to 426, with the loading...
DFF to support tech startups in luxury retail challenge
Dubai Future Foundation (DFF) has announced the launch of a new, first-of-its-kind initiative in the region to encourage and support tech start-ups to participate in a special challenge. The challenge is to utilize the latest technologies and innovations and contribute to the development of a quality and innovative experience for...Britain may build seven nuclear power plants by 2050
Britain could build up to seven new nuclear power plants by 2050, as well as offshore wind to diversify energy sources, a senior minister said Sunday.
