World gold demand rises in q2 2024 Image Getty Images

Global gold demand rises 4% in Q2, reveals World Gold Council

The surge in gold demand was primarily supported by a significant 53 per cent increase in over-the-counter transactions, which reached 329 tonnes

Kuwait - jet fuel

Beirut flights cancelled; US issues Lebanon travel advisory

The US, UK and France are among countries who have issued an urgent travel advisory asking their citizens to avoid travel to Lebanon

UAE-MOROCCO-2

UAE, Morocco finalise comprehensive free trade agreement

The UAE’s CEPA programme aims to increase the country’s non-oil foreign trade to Dhs4tn by expanding relations with strategically important markets around the world

Egypt’s central bank committed to a flexible exchange rate

Egypt says it cut foreign debt by $14bn

The country’s external debt fell to $154 billion as of the end of May from $168bn at the end of December

Petrobras

Petrobras wrapping up due diligence to buy back refinery from Mubadala, sources say

Brazil’s Mines and Energy Minister Alexandre Silveira said Petrobras will only enter into an agreement if the buyback is “economically viable”

Sam Altman of OpenAI search

OpenAI enters Google-dominated search market with SearchGPT

The company plans to integrate the best features from the search tool into ChatGPT in the future

UAE EU trade talks Middle east

Europe welcomes Middle East money but some deals face headwinds

Investors from the Middle East bring cash and expertise to such projects

Paris rail network Image: Getty Images

Paris rail network hit by attacks before Olympics opening ceremony

Trains from Paris to neighbouring Belgium and to London via the English Channel were disrupted

Suez Canal

Suez Canal revenue drops as some shipping firms shun Red Sea

The Suez Canal, is a key source of foreign currency for Egypt, and authorities have been trying to boost its revenues in recent years

Joe Biden drops out of 2024 US presidential race

US president, Joe Biden, has announced that he is exiting the 2024 presidential race

tech outages

6 of the biggest tech outages in recent years

Even as the world reels from the Microsoft outage, here’s a look at some outages that have taken down major systems, in recent years

Microsoft

Microsoft global outage: Major banks, airlines and media impacted

Microsoft attributed the error to a recent update from CrowdStrike

Gold

Gold clings to record high on growing US rate-cut bets

Over the next six to 12 months, Citi expects gold to rise $2,700-$3,000 per ounce and silver to climb $38 per ounce

IHG launches industry first low carbon pioneers programme Getty Images

IHG unveils industry-first Low Carbon Pioneers programme

Creating a group of low operational carbon hotels, the first community of its kind in the industry, will help IHG test, learn and share findings on sustainability measures

Tesla model-3

Tesla launches new Model 3 long-range variant

The new Model 3 long-range variant is priced at $42,490

MISS AI MOROCCO

Morocco’s Kenza Layli is world’s first Miss AI in virtual beauty pageant

The creators of Kenza Layli aimed to present her as a symbol of a strong and modern Moroccan woman

Donald Trump

Tech CEOs, markets react to Trump shooting

World leaders, US politicians, and tech CEOs condemned the shooting, while some including Tesla chief Elon Musk declared support for Trump in the upcoming elections

Investors react to shooting at Donald Trump rally

Trump was shot in the ear during the rally in Pennsylvania on Saturday in what the authorities were treating as an assassination attempt.

NATO

NATO to open first Middle East liaison office in Amman

The announcement coincides with NATO’s 75th anniversary celebrations in Washington

Hottest month - June 2024 temperatures breaks previous records, according to Reuters Image: Getty Images

Heat wave: 2024 could be world’s hottest year; June breaks records

Despite promises to curb global warming, countries have so far failed collectively to reduce these emissions, pushing temperatures steadily higher for decades

Boeing 737 max- boeing

Boeing to plead guilty to fraud in US probe of fatal 737 MAX crashes

Boeing became exposed to criminal prosecution after the US Justice Department in May found the company violated a 2021 settlement involving the fatal crashes

China EV maker BYD to build $1bn plant in Turkey

Chinese electric carmaker BYD to build $1bn plant in Turkey

The company plans to establish a facility for producing electric and plug-in hybrid vehicles, with an annual capacity of 150,000 units

Egypt

Egypt government launches $21bn ‘South Med’ real estate mega-project

Spanning 23 million square metres, “South Med” will feature over 2,000 hotel rooms and residential units, and a large international marina

UK elections 2024 - Labour Party

UK elections 2024: Labour sweeps to power as Keir Starmer vows to bring change

Despite a convincing victory, polls have suggested there is little enthusiasm for Starmer or his Labour party

Global trade sees growth in Q1 2024, shares UNCTAD

Global trade sees growth in Q1 2024, shares UNCTAD

Trade in developing countries and South-South trade increased by about 2 per cent in both imports and exports during the first quarter

Travelling to Europe this summer? Use Uber's new boat services

Visiting Europe this summer? Try Uber’s new boat services

Tourists will be able to use the Uber app to access new nautical experiences in Ibiza, Venice, Athens, Paris, Corfu and Santorini

UK

UK election winners will inherit 7 urgent tasks

Whichever party forms the next government after the UK elections will have to contend with challenges such as rising poverty, a stagnating economy, crumbling health infrastructure and growing number of immigrants, among others

Investment firm Ardian raises $3.2bn for sixth co-investment fund

Investment firm Ardian raises $3.2bn for sixth co-investment fund

The new fund attracted 188 investors from Europe, the Americas, the Middle East and Asia

MENA sukuk sector rises in H1 2024 driven by ESG and sovereign issuances according to Bloomberg LP Image GettyImages

MENA sukuk market flourishes in H1, fuelled by ESG, sovereign issuances

Saudi Arabia emerged as the leading issuer, accounting for $3.98bn from five sukuk, while the UAE contributed the remaining $2.25bn