Oil slides, stocks rise as Iran-Israel ceasefire holds
The main international and US oil contracts briefly bounced off their lows as Israel and Iran accused each other of breaking the ceasefire, but then fell around five percent after Trump berated the two countries in an expletive-laced outburst.
Netanyahu assures Biden, Iran counterstrike will only target military sites as war spreads to Lebanon and Gaza
US officials, citing Netanyahu’s pledge, reported relief in Washington as Israel’s counterstrike on Iran will not target oil or nuclear sites, easing fears of an energy crisis and broader conflictUS warns Israel not to repeat Gaza destruction in Lebanon
Netanyahu said in a video address addressed to the people of Lebanon on Tuesday: "You have an opportunity to save Lebanon before it falls into the abyss of a long war that will lead to destruction and suffering like we see in Gaza." He added: "Free your country from Hezbollah...GM reports US sales dip, that of EVs grew
The big Detroit automaker reported 659,601 US sales during the period.US offers $20 mn for info on Iranian behind Bolton assassination plot
Washington, United States- The US State Department announced a $20 million reward on Thursday for information leading to the arrest of the alleged Iranian mastermind behind a plot to assassinate former White House official John Bolton.US officials said in August 2022 that they had uncovered a plot by Shahram Poursafi, a...United by innovation and progress: The enduring US-UAE partnership
‘’In close partnership, we are working to advance multilateral diplomatic solutions and provide urgently needed humanitarian assistance in Gaza and Sudan. Our ongoing defense and counterterrorism cooperation makes our countries and the world more secure. U.S. and UAE troops have stood shoulder to shoulder in six conflicts over the last...Trump safe after apparent assassination attempt, person in custody
The incident came amid heightened tensions in the knife-edge presidential race, and concern for the safety of both candidates. "There is no place for political violence or for any violence ever in our country," President Joe Biden said in a statement.Stock markets rise, gold hits record high as US rate cut nears
More data this week suggesting the Federal Reserve was winning the battle against inflation provided an extra kick for global equities after recent drops caused by worries of a possible US recession. Wall Street shares were up near midday deals while European markets closed in the green, a day after...US releases $1.3 billion in military aid to Egypt
The United States, Egypt and Qatar are parties to the negotiations for the release of the hostages held by Hamas since its attack on Israel on October 7, and on the cessation of a subsequent Israeli military operation in Gaza that has killed tens of thousands.Global stock markets wobble as investors weigh US jobs data
Since US Federal Reserve Chairman Jerome Powell stated last month that the time for interest rates to begin coming down and the pace would depend on economic data, investors have been keenly awaiting the latest jobs numbers. Dismal July job figures caused markets to panic last month.Hamas urges US pressure on Israel over Gaza truce
Palestinian Territories - Hamas called on the United States Thursday to "exert real pressure" on Israel to reach a Gaza ceasefire agreement as Prime Minister Benjamin Netanyahu said there was no deal in the making.The two sides have traded blame over stalling talks for a ceasefire and hostage exchange as...Investors hold breath as Nvidia earnings loom, stock markets subdued
Paris, France -- US shares fell marginally and European stock markets mostly inched higher Wednesday as investors cautiously awaited the latest earnings results from US chip giant Nvidia, a bellwether for the tech sector.Traders are also waiting for key US economic data later this week that could provide clues about the...US Fed chair says ‘the time has come’ to start cutting rates
The Fed's benchmark lending rate currently sits at a 23-year high of between 5.25 and 5.50 percent, cooling demand in the world's largest economy ahead of November's presidential elections, in which inflation and the cost of living have taken a central role.US Fed chair expected to signal support for rate cuts
The annual Jackson Hole Economic Symposium in the US state of Wyoming gives Powell a global platform to enlighten financial markets about the Fed's thinking, a few weeks after he said policymakers could cut rates "as soon as" September.US says Iran responsible for Trump campaign hack
The statement from the Office of the Director of National Intelligence (ODNI), the Federal Bureau of Investigation (FBI), and the Cybersecurity and Infrastructure Security Agency (CISA) confirmed the Trump campaign claim from earlier this month that it had been targeted, potentially by Iran.UN, EU and US decry extremist Israeli minister’s prayer at Al-Aqsa
"We are against any efforts to change the status quo within the holy sites," said deputy spokesman Farhan Haq. "Al-Aqsa mosque, like the other holy sites in Jerusalem, should be left to themselves and should be controlled by the existing religious authorities for the sites. This sort of behavior is...US orders carrier group to hasten Middle East arrival
He said Austin, who spoke with his Israeli counterpart Yoav Gallant on Sunday, had also ordered the USS Georgia guided missile submarine to the area. Ryder said the pair discussed "the importance of mitigating civilian harm, progress towards securing a ceasefire and the release of hostages held in Gaza."Oil and gas sector in Arab countries attracts projects worth $406bn
Kuwait: -- The oil and gas sector in Arab countries attracted 610 projects implemented by 356 foreign and Arab companies, with a total investment cost of US$ 406 billion between January 2003 and May 2024.The Arab Investment and Export Credit Guarantee Corporation (Dhaman) stated in its first sectoral report on...US in ‘around-the-clock’ push against Mideast war
Biden called King Abdullah II of Jordan, which helped down Iranian drones and missiles in an earlier showdown in April, while Blinken called top officials in Qatar and Egypt, the key intermediaries seeking a ceasefire in the 10-month Israel-Hamas war.US personnel injured in rocket attack on Iraq base
US President Joe Biden and Vice President Kamala Harris were briefed on the attack, the White House said. "They discussed the steps we are taking to defend our forces and respond to any attack against our personnel in a manner and place of our choosing," it said in a statement.US to deploy more warships, fighter jets to Mideast
Defense Secretary Lloyd Austin has also ordered additional ballistic missile defense-capable cruisers and destroyers to the Middle East and areas under US European Command, as well as a new fighter squadron to the Middle East. Israel killed Hizbollah commander Fuad Shukr in Beirut on Tuesday.Biden says US committed to defend Israel against ‘all threats from Iran’
Biden, who was joined on the call by Vice President and Democratic presidential candidate Kamala Harris, also emphasized the "ongoing efforts to de-escalate broader tensions in the region," the White House said in a statement. The call between the leaders also came after Israel announced it had "eliminated Hezbollah military...US defends forcing sale of TikTok app
TikTok's suit argues this violates First Amendment rights of free speech.Gaza mediators, Israel spy chief to meet in Rome: Egypt media
"A four-way meeting between Egyptian officials and their American and Qatari counterparts, in the presence of Israel's intelligence chief, will be held in Rome on Sunday to reach an agreement on a truce in Gaza," Al-Qahera news, which has links to Egyptian intelligence, reported on Friday, citing a "senior official"...IMF maintains 2024 global growth forecast, warns of inflation risk
The International Monetary Fund expects the world economy to grow 3.2 percent this year, unchanged from its April forecast, according to its World Economic Outlook update. "Global activity and world trade firmed up at the turn of the year, with trade spurred by strong exports from Asia," said the fund....Tesla Q2 auto deliveries surge
Deliveries still 4.7 percent down from a year ago.Fighting rages in Gaza City’s Shujaiya for fourth day
A Hamas official in Lebanon, Osama Hamdan, confirmed that the Islamist movement had received the latest proposal but said it presented "no real progress in the negotiations". Hamas has called for a permanent ceasefire and full Israeli withdrawal from Gaza, demands repeatedly rejected by Israel.Hamas official says ‘nothing new’ in US Gaza proposals
Hamas insists on a permanent ceasefire and a complete withdrawal of Israeli forces from the Gaza Strip. Hamdan said the proposals were "merely a waste of time and provide additional time for the occupation (Israel) to practise genocide".Houthis claim attack on merchant ship in Red Sea off Yemen
The Houthis, who are at war with a Saudi-led coalition after ousting the government from Sanaa in 2014, have launched scores of drone and missile attacks on shipping in the Red Sea and Gulf of Aden since November. They have said they are harassing the vital trade route in support...UN Security Council to vote on US Gaza ceasefire resolution
The text of the resolution "welcomes" the truce and hostage release proposal announced on May 31 by President Joe Biden, and "urges both parties to fully implement its terms without delay and without condition." Unlike earlier drafts, the resolution states that Israel has "accepted" the US ceasefire proposal.US destroys drones, missiles in Houthi-controlled areas of Yemen
Houthi television channel Al-Massirah meanwhile said there were air strikes in the Yemeni capital Sanaa and elsewhere in the country on Friday, but the reports could not be independently confirmed, and it was unclear if they were related to the incidents described by CENTCOM.Gaza hospital says 37 dead in strike on UN school Israel says used by Hamas
"The government of Israel has said that they are going to release more information about this strike, including the names of those who died in it. We expect them to be fully transparent in making that information public," State Department spokesman Matthew Miller told reporters.Houthis launch fresh drone, missile attacks from Yemen: US
Dubai, United Arab Emirates - Yemen's Iran-backed Houthis launched several drones and two ballistic missiles on Friday, the US military said, after deadly overnight strikes by American and British forces prompted retaliatory threats from the rebels.US Central Command (CENTCOM) said it intercepted four drones launched by the Houthis - three over...US, UK air strikes hit several sites in Yemen
The British defence ministry said in a statement that its planes launched strikes in "a joint operation with US forces against Houthi military facilities to degrade their ability to persist with their attacks on international shipping in the Red Sea and Gulf of Aden".Deadly strikes hit Gaza as US envoy visits Israel
Israel has also fought and bombed resurgent Hamas forces in northern and central areas of the coastal territory previously considered to be under army control, sparking US warnings that it could become mired in a lengthy counterinsurgency campaign.Israeli leaders split over post-war Gaza governance
Jerusalem, Undefined -- New divisions have emerged among Israel's leaders over post-war Gaza's governance, with an unexpected Hamas fightback in parts of the Palestinian territory piling pressure on Prime Minister Benjamin Netanyahu.The Israeli army has been battling Hamas across Gaza for more than seven months while also exchanging near-daily fire with...Israel PM says no ‘humanitarian catastrophe’ in Rafah as almost 500,000 evacuated
The United Nations said Tuesday that nearly 450,000 people had been displaced from Rafah since Israel first began issuing evacuation orders for eastern areas of the governorate on May 6.US says Boeing can be prosecuted for 737 MAX crashes
San Francisco, United States - The US Justice Department on Tuesday said Boeing can be prosecuted for two subsequent 737 Max crashes that killed 346 people approximately five years ago.Boeing breached obligations under an agreement that had shielded it against legal proceedings for the accidents, department officials said in a letter...Fierce fighting rocks Gaza after US warning of anarchy, insurgency
The city on the Egyptian border had been sheltering 1.4 million Palestinians, according to the United Nations, but Israel's military operation sparked an exodus of nearly 360,000 people from Rafah so far, said the UN agency for Palestinian refugees (UNRWA).Israel opens new border crossing into northern Gaza
Israel said its Kerem Shalom southern crossing with Gaza reopened on Wednesday, three days after being closed because of rocket fire claimed by Hamas's armed wing. However, UN agencies and aid groups said they have been unable to transport much-needed supplies through the crossing for security reasons.US slams Israel’s use of American weapons in Gaza
The US has warned that the reputational damage Israel will suffer if it storms a city where an estimated 1.4 million civilians are sheltering will far outweigh any possible military gain. UN chief Antonio Guterres said Friday that Gaza risked an "epic humanitarian disaster" if Israel launched a full-scale ground...Biden threatens to stop arm shipments if Israel invades Rafah
Biden, a self-described Zionist, had long resisted stopping any of the $3 billion in weapons the United States sends each year to Israel -- and pushed Congress for an increase in the wake of the October 7 attack by Hamas that triggered the war.US Federal Reserve keeps interest rates at 23-year high
Washington, United States - The US Federal Reserve on Wednesday held interest rates steady for a sixth straight meeting, keeping the level at a 23-year high to fight stubborn price increases.After a two-day gathering, the central bank decided unanimously to keep the benchmark lending rate unchanged at 5.25-5.50 percent, citing a...Hopes rise for possible truce deal between Israel and Hamas
Jerusalem, Undefined - Hopes rose on Monday for a long-sought-after truce and hostage release deal after almost seven months of war in Gaza between Palestinian Hamas fighters and Israel.Washington's top diplomat said he was "hopeful" Hamas would accept the offer, which his British counterpart said could see the release of thousands...As ‘news deserts’ spread, US journalism fights on
Baltimore, United States - Baltimore Banner reporter Matti Gellman is first to leap in with questions during a recent press appearance by Maryland's state governor and celebrity chef Jose Andres at an urban farm.With her notebook wedged under her arm and a Banner-branded baseball cap on her head, Gellman is launching...Syria has held ‘meetings’ with US: Assad
The United States was among the first to cut ties with Assad over the repression of anti-government protests that sparked war in 2011, and many Western and Arab states also severed relations.Iran, Israel appear to pull back from brink as US approves military aid
Iran downplayed Israel's reported retaliation for its unprecedented drone and missile attack, tamping down fears that escalating attacks between the arch enemies could tip over into a broader war in the Middle East. However a deadly blast at an Iraqi military base underlined the persisting tensions in the region.US troops head to region as fears grow of Gaza war’s spread
Fears of regional escalation grew after a strike on Iran's consular annex at its embassy in Damascus. Tehran blames the attack on Israel. Airlines said they are avoiding Iranian airspace, nearly two weeks after a strike.MENA region is leading the on-demand talent revolution: report
Agile work models and diverse skill demands propel MENA's freelance economy, empowering businesses to thrive amid modernization and digital transformation.Defence minister says Israel ‘shoulder to shoulder’ with US on Iran
"Our enemies think that they can pull apart Israel and the United States, but the opposite is true -- they are bringing us together," Gallant said, after the two discussed Iran's threats of retaliation for a deadly air strike on its consulate in Syria.Most equity markets fall as US inflation data dims rate cut hopes
The losses tracked a sell-off on Wall Street and saw the dollar strike a 34-year high against the yen, fueling speculation Japanese authorities will step in to support their beleaguered currency. Figures showing the consumer price index rose 0.4 percent on-month and 3.5 percent on-year were both above consensus for...