International News

South Korean assets rallied on Monday after the government pledged at least 50 trillion won ($34.8 billion) to prop up credit markets, easing concerns about rising default risks in the key sectors including real estate. The Kospi index advanced as much as 2%, with shares of brokerages and builders such as Kiwoom Securities Co., Meritz Securities Co. and Dongbu Corp. ...

NOUAKCHOTT / WAM The Emirates Red Crescent (ERC) has launched several development projects in Aghlik bin Bayyah Village, as part of its continuous efforts to support vital services in Mauritania. The projects included the rehabilitation of a medical centre in the village and the Holy Quran Memorisation Institute. An artesian well was dug and provided with a solar-powered tank and ...

Abu Dhabi / WAM     Egypt’s Foreign Minister Sameh Shoukry has articulated the central importance of the ‘COP27’ his country will host next month in the winter resort of Sharm El Sheikh, calling for pulling the 27th Conference of the Parties of the UNFCCC out of the ongoing context of “strong political and economic polarisation and the dynamics of politicisation and ...

A prominent member of the Tory right has come out in support of Rishi Sunak as the UK’s next prime minister and and declared that if former premier Boris Johnson won the contest it would be a “guaranteed disaster.” Steve Baker, a Northern Ireland minister and prominent Brexiteer who backed Johnson in the 2019 general election, told Sky News that ...

  Giorgia Meloni plans to uphold Italy’s pro-Ukraine and pro-Nato stance, but her government is set to shift internal policy to provide a greater shield for the country’s companies and industry. The leader of Brothers of Italy formally takes over from Mario Draghi as head of government Sunday. The two have already exchanged the little bell used to open cabinet ...

Ukraine’s critical energy infrastructure was extensively damaged as Russian troops delivered another large-scale wave of missile strikes, leaving 1.5 million or more people temporarily without power. President Volodymyr Zelenskiy said Russia had launched a “massive attack” overnight, with some 36 missiles fired, most of them intercepted but some that hit their marks. Vladimir Putin’s invasion of Ukraine is nearing the ...

Hurricane Sandy swept through New York City in October 2012 leading to 43 deaths and an estimated $19 billion in damages. The fallout devastated city residents as their homes, along with the city’s public transit system, were submerged in water. A decade later, the city is still rebuilding after the superstorm as it confronts the threat of extreme weather. New ...

Pfizer Inc rises the most in seven months after revealing plans to charge between $110 and $130 per single-dose vial of its Covid-19 vaccine, showing how the company intends to shift its strategy when bringing the blockbuster product to the commercial market. The US government will stop purchasing Covid-19 vaccines and distributing the shots to Americans for free as soon ...

Britain’s financial watchdog has been consulting private equity firms about the effects on the companies and their investors of rising rates and the bond market tumult triggered by the government’s failed mini-budget, the Financial Times (FT) reported on Sunday. Officials at the Financial Conduct Authority (FCA) contacted several buyout groups to try to find out how badly the turmoil had ...

The US budget deficit falls by a record in the 2022 financial year, a second straight drop that reflects the drying up of Covid-related aid spending alongside a surge in revenues propelled by the wage and employment gains. The deficit for the fiscal year through September narrowed to $1.38 trillion, from a revised $2.78 trillion the previous year, according to ...