Telegram-Pavel-Durov opens up on IVF

Dubai-based Telegram founder Pavel Durov detained in Paris

Pavel Durov was apprehended while travelling aboard his private jet

A Royal Jordanian airplane takes off from Adolfo Suarez - Beirut

Royal Jordanian airline suspends flights to Beirut, state news agency says

The Israeli military said its jets hit targets in Lebanon shortly before the military assessed Hezbollah was preparing to launch attacks

Jerome Powell, chairman of the US Fed arrives to a dinner at the Jackson Lake Lodge during the Kansas City Federal Reserve's Jackson Hole Economic Policy Symposium in Moran, Wyoming, US, on Thursday, Aug. 22, 2024. With the central bank on the cusp of lowering interest rates from a more than two-decade high, the Federal Reserve chair's comments on Friday will be closely parsed for any hints on how the Fed chief is viewing the economy in the wake of a weaker-than-expected jobs report and further easing in inflation. Photographer: Natalie Behring/Bloomberg Jerome Powell, chairman of the US Federal Reserve, arrives to a dinner at the Jackson Lake Lodge during the Kansas City Federal Reserve's Jackson Hole Economic Policy Symposium in Moran, Wyoming, US, on Thursday, Aug. 22, 2024. With the central bank on the cusp of lowering interest rates from a more than two-decade high, the Federal Reserve chair's comments on Friday will be closely parsed for any hints on how the Fed chief is viewing the economy in the wake of a weaker-than-expected jobs report and further easing in inflation. Photographer: Natalie Behring/Bloomberg

US Fed’s Jerome Powell says ‘time has come’ to cut rates

Fed chief says timing, pace of rate cuts depends on data

top indians

Most influential Indians in the region 2024

We profile some of the most iconic Indian business titans based in the Gulf, highlighting their journeys and achievements

A rescue boat of the Vigili del Fuoco, the Italian Corps. of Firefighters operates off Porticello near Palermo, on August 20, 2024 a day after the British-flagged luxury yacht Bayesian sank. Specialist divers launched a fresh search for six people, including UK tech tycoon Mike Lynch and the chairman of Morgan Stanley International, missing since their yacht capsized off the Italian island of Sicily. The Bayesian, which had 22 people aboard including 10 crew, was anchored some 700 metres from port before dawn when it was struck by a waterspout, a sort of mini tornado. Fifteen people aboard, including a mother with a one-year-old baby, were plucked to safety; one man has been found dead; and six people remain missing. (Photo by Alberto PIZZOLI / AFP) (Photo by ALBERTO PIZZOLI/AFP via Getty Images)

Five bodies recovered from Mike Lynch’s sunken superyacht in Sicily

The Bayesian, a 56-metre yacht flying the British flag, was carrying 10 crew members and 12 passengers when it sank off the coast of Sicily

Gold - Renewed strength in the greenback has now seen bullion tumble more than 20 per cent since a March peak.

Gold tracks down after hitting record high

Gold has gained nearly 22 per cent so far this year with geopolitical tensions and uncertainty created by the upcoming US elections

Egypt’s foreign debt drops $7.4bn in Q1 2024

Egypt’s foreign debt drops $7.4bn in first quarter

The country’s finances were boosted in February when it sold the development rights to Ras El-Hekma to the UAE for $35bn

Sicily yacht sinking

Morgan Stanley boss Jonathan Bloomer, tech tycoon Mike Lynch missing in Sicily yacht sinking

Italian authorities rescued 15 of those on board the British yacht, but a day later six passengers remain missing, and one body has been recovered

BII to invest $35m in DRC port

UK’s BII invests $35m in Congo port project, boosts DP World tie-up

With a draft of 17.5 metres, the port will be capable of receiving large container vessels, ultimately reducing trade costs in the DRC by 12 per cent

Kuwait - jet fuel

List of airlines suspending flights to the Middle East continues to grow

A number of airlines have adjusted or suspended flights to cities in the Middle East due to ongoing regional tensions

TotalEnergies, Iraq deal

Iraq shifts to profit sharing with new oil and gas deals

Oil majors have complained that the terms of Iraq’s traditional oil service contracts meant they could not benefit from rising oil prices and lost out when production costs rose

Egypt

Egypt’s sovereign wealth fund CEO resigns: Reports

Soliman’s resignation had been anticipated, with one government source saying Egypt’s political leadership wanted to introduce fresh faces into key positions, as part of a broader reshuffle

AD Ports' Noatum makes entry into Egypt; acquires Safina Shipping Services

AD Ports’ Noatum enters Egypt market; acquires Safina Shipping Services

Safina, a key player in the Egyptian maritime industry, offers comprehensive agency services and maritime logistics to shippers, serving the metals, minerals, and fertilisers sectors

World Health Organization (WHO) - MPOX

WHO declares mpox outbreak a global health emergency

Experts hoped the announcement would galvanise action worldwide, many obstacles remain, including limited mpox vaccine supply, funding and competing disease outbreaks

MENA IPOs in Q2 2024 GettyImages-1317703626

MENA region sees 14 IPOs valued at $2.64bn in Q2 2024

Eight out of the 14 MENA IPOs in Q2 2024 delivered positive returns by the end of June, with Miahona Company achieving the highest gain of 90.4 per cent

Adani Enterprise Ltd Image IHC X

Adani shares in freefall after fresh Hindenburg allegations against Indian regulator

Adani Enterprises is looking to launch a $1bn share sale by mid-September, having shelved a record $2.5bn offer in the wake of Hindenburg’s first set of allegations

Breaking the Middle-Income Barrier: Strategies for emerging economies

Breaking the Middle-Income Barrier: Strategies for emerging economies

More than 100 countries, such as China, India, Brazil, and South Africa, face serious obstacles that could hinder their efforts to become high-income countries in the next few decades, reveals World Bank’s recent report

Unlocking the vast potential of GCC investment in Africa Image for illustrative purposes/ Getty Images

Packed with potential: GCC investment in Africa

Last year, Gulf countries poured more than $53bn into projects on the continent, a considerably greater sum than the $10bn investment from the US over the same period

US MILITARY AIR-FORCE-F-22-RAPTORS-DOD

US boosts military capability in the Middle East, sends F-22 jets

The US has an estimated 30,000 to 45,000 military troops stationed across the Middle East, spread over more than a dozen countries

EQT to buy majority stake in cybersecurity firm ACRONIS GettyImages

EQT to acquire majority stake in cybersecurity firm Acronis

The completion of this transaction is pending customary regulatory approvals and is anticipated to take place in Q1-Q2 2025

Lebanon - Egypt Air

UK, Egypt issue alerts for Lebanon airspace

Many airlines, globally, are revising their schedules to avoid Iranian and Lebanese airspace while also calling off flights to Israel and Lebanon

EFG Hermes ONE rebrands, unveils new trading platform

EFG Hermes ONE rebrands, unveils new trading platform

Currently available in Egypt and Kuwait, and soon to be launched in the UAE, EFG Hermes ONE grants users access to 35 global markets through OLT

Lebanon-Beirut

Middle East: As tensions mount, a look at Lebanon’s myriad crises

Lebanon’s multiple crises include a contracting economy, lack of governance and tensions in the region causing an influx of refugees

Schengen visa process to go digital from 2028

UAE residents flock to Europe: Schengen visa applications surge by 20%

The increase in visa applications coincides with the peak travel season, influenced by favourable European weather and major events such as the 2024 Paris Olympics

Google

Google has an illegal monopoly on search, US judge finds

Google paid $26.3bn in 2021 to maintain search engine dominance, the judge noted

stock markets

‘Black Monday’ stock rout continues on US markets: S&P 500, Nasdaq crash 3%

All three major indexes registered their biggest three-day percentage declines since June 2022

Bangladesh

Bangladesh PM Sheikh Hasina resigns, leaves country: Reports

What began as a student-led protest against civil service job quotas has now evolved into a broader anti-government movement in Bangladesh

Japan Nikkei stumbles

Asian stocks trampled as Nikkei crashes 13%

The scale of losses on Japan’s Nikkei had not been seen since the global financial crisis

Lebanon

Lebanon: Which countries are urging their citizens to evacuate now?

France, Italy, Australia and Canada have joined the US and the UK, in issuing evacuation orders for their citizens in Lebanon

Gold

Gold’s run to record high may crimp demand: Insight

The combination of bearish and bullish factors for gold may end up having the effect of keeping the price in a relatively narrow range for the rest of the year