World News

Law firms across globe rush to cash in on $150 bn West Asia deal boom

The $150 billion of deals involving Gulf firms in 2024 marks a 62 per cent increase from the same period last year, according to data compiled by Bloomberg

Rescuers comb debris for survivors in cyclone-hit French territory Mayotte

Cyclone Chido devastated large parts of the archipelago off east Africa over the weekend with winds of more than 200 kph (124 mph), strewing homes over hillsides

Israel-Hamas war: Death toll in Gaza Strip exceeds 45,000 in 14 months

Israel claims Hamas is responsible for the civilian death toll because it operates from within civilian areas in the densely populated Gaza Strip. Rights groups and Palestinians say Israel has failed

Trump team plans sweeping rollback of Biden's EV, emissions policies

The recommendations, which have not been previously reported, come as the US electric-vehicle transition stalls and China's heavily subsidized EV industry continues to surge

In post-coup Myanmar, doctors, nurses turn to prostitution to survive

In February 2021, Myanmar's military seized power in a coup, and the country's economy, already hammered by the pandemic, started to buckle

China to boost household income with direct support, social security steps

Policymakers are weighing inclusion of more products in high demand and with potential for replacement in the scheme, as this programme had a "very good" effect this year, it added, without stating

EU imposes new sanctions on Russia, illicit oil shipments, targets China

The EU began adding ships this year in response to an increase in the number of vessels transporting cargoes that are not regulated or insured by conventional Western providers. The listing included

Bitcoin hits record high of $107,000, hopes grow for strategic reserve

Bitcoin, the world's biggest and best known cryptocurrency, extended gains to a session high of $107,148 and was most recently at $106,877, up 5.43% from late Friday

Arm, Qualcomm begin trial over AI PC chip Nuvia's licensing dispute

During opening arguments, attorneys for both companies displayed on a screen for jurors images of contracts, emails and internal corporate chats with key language highlighted

US treasury yields dip as traders await Fed's rate decision due on Wed

The Fed is expected to say that it will be in no rush to make further cuts as inflation improves but remains above its 2 per cent annual target, while the labor market also remains relatively strong

Ten EU nations write letter seeking wider sanctions on Russian-origin metal

There are more than 2,000 individuals and entities on the EU's sanctions list, but not Russian metal producers such as Rusal or primary metal produced in Russia

Germany's Scholz loses confidence vote, setting up early election in Feb

Scholz won the support of 207 lawmakers in the 733-seat lower house, or Bundestag, while 394 voted against him and 116 abstained. That left him far short of the majority of 367 needed to win

Canada's finance minister resigns after policy clash with PM Trudeau

Domestic media reports said Freeland and Trudeau had clashed over a government proposal for temporary tax breaks and other spending measures

Brazilian currency faces volatility as Prez Lula criticises rates level

Speaking in an interview with TV Globo aired late on Sunday, the leftist leader called the interest rate hikes "irresponsible" and said his government would "take care of that"

Damaged Russian ships likely spilled 3,700 tonnes of oil in Kerch Strait

An estimated 3,700 tons of low-grade fuel oil has spilled into the Kerch Strait after two Russian ships were seriously damaged by stormy weather, Russian state media reported Monday.

EU slaps sanctions on dozens more Russian officials; targets oil, gas fleet

Russia's vast shadow fleet of ships that Moscow is exploiting to skirt restrictions on transporting oil and gas, or carrying stolen Ukrainian grain, was also targeted

US finalises $9.63 billion loan for Ford, SK On joint battery venture

BlueOval SK said it has invested more than $11 billion to date in the construction of the three 4-million-square-foot facilities and plans to begin production at the first Kentucky plant in 2025

Lenders Berkshire Hills Bancorp, Brookline to merge in $1.1 bn deal

Both Berkshire and Brookline are headquartered in Boston, Massachusetts and each hold around $12 billion in assets. The deal is set to create a $24 billion bank with a geographic footprint across five

Stop whitewashing mistakes, turn the knife inward: Xi to Chinese officials

Xi said all party members must deeply promote the party's self-revolution referring mainly to the fight against corruption

'Wanted to keep fighting', says Syria's Assad in 1st statement after ouster

Assad said that after the Russian base came under attack by drones, the Russians decided to move him