Author: Steven Sahiounie

Washington has been pressuring Riyadh to scrap its voluntary crude output cuts to lower prices for months Major oil producer Saudi Arabia is willing to increase production early next year in exchange for a defense pact with the US, the Wall Street Journal reported on Friday, citing Saudi and US sources. The two countries have been in talks over a three-way deal between Saudi Arabia, the US, and its Middle Eastern ally Israel. Under the deal, Riyadh would recognize the Jewish state in exchange for a formal security pact between Riyadh and Washington. This would see the US provide help in establishing…

Egypt imported more than two million tons of crops in just three months, data has shown Egypt has become Russia’s top grain importer after purchasing over two million tons in just three months, the Union of Grain Exporters announced on Friday. From July to September, Cairo bought 2.031 million tons of grain, marking a 9.1% increase compared to the same period last year when the country imported 1.862 million tons. “The firm position of Russian exporters in GASC [General Authority for Supply Commodities] tenders stimulated private purchases,” the Union wrote on its Telegram channel, referencing the Egyptian agency for food procurement.…

The tech may dramatically reduce working hours, according to Jamie Dimon Artificial Intelligence (AI) is likely to substantially improve quality of life for the next generation of workers, JPMorgan CEO Jamie Dimon has suggested. He noted, however, that the technology could cost some people jobs. In an interview with Bloomberg aired this week, Dimon said AI would be part of every single process, adding that the technology is already being used by thousands of employees at his bank. “Your children are going to live to 100 and not have cancer because of technology,” Dimon stated. “And literally they’ll probably be working three-and-a-half…

The number of households reporting tumbling incomes is growing, a survey has found The number of US adults with declining incomes has soared in recent weeks in a sign of a weakening labor market, Bloomberg reported on Wednesday. The share of households facing a drop in their incomes rose from 10.7% in August to 11.8% last month, the outlet said, citing a survey of the US labor market by data intelligence company Morning Consult. The increase was mainly driven by high- and middle-income families and the West region of the United States. About 20% of adults polled, who earn $100,000…

The EU’s top economy has no “buffers” in its gas system, RWE CEO Markus Krebber has said Germany may face gas supply disruptions this winter due to the continuing energy crisis, Markus Krebber, the CEO of the country’s largest utility, RWE, has warned. According to Krebber, the cold weather threatens the energy security of the EU’s largest economy more than a year after Russia, once Germany’s main gas supplier, sharply reduced its exports of natural gas. “If there is very cold winter or supply disruptions it can lead to very critical situations – and as a result to shortages…

Exports of Russian crude to Brazil hit 13-year high in September, RIA Novosti reports Russian oil producers exported 84,400 metric tons of crude to Brazil last month, marking the highest volume shipped from Russia to that country since June 2010, when the South American nation bought in 117,800 metric tons, RIA Novosti reported on Sunday, citing Brazilian customs data. In monetary terms, exports of crude to Brazil in September, the first shipments after a two-year halt, totalled $48 million. In August 2021, Brazilian refineries imported 42,100 metric tons of crude from Russia, worth $16.6 million. At the same time, Brazil’s…

At least 22 members of the Abu Daqqa family were killed near Khan Younis after their home was targeted in an Israeli air strike, Al Jazeera’s Tareq Abu Azzoum reports. “Among those killed include seven children. Civil rescue teams are still trying to rescue six members of the family who are stuck under the rubble of the destroyed house,” Azzoum added. Source: Aljazeera

Lauding the Palestinian resistance for the “history-making” move against Israeli cruelty and acts of aggression, Iranian President Ebrahim Raisi expressed the Islamic Republic’s support for the Palestinian nation’s legitimate right to defense. In a message released on Sunday, the Iranian president admired the oppressed Palestinian nation for rising against cruelty after the resistance forces in the Gaza Strip launched the Al-Aqsa Storm operation against the Zionist regime. Paying tribute to the resistant and courageous Palestinian nation for their history-making move which has frightened the persecutors, President Raisi said the resistance forces have scrapped the illusion of living under the yoke…

President Mahmoud Abbas has ordered the government and relevant authorities to immediately send all available resources to alleviate the suffering of our people in the Gaza Strip, currently under an Israeli aggression. President Abbas said the people of Gaza are facing an all-out Israeli aggression, demanding that everything possible be done to immediately relieve their suffering of under Israel’s aggression. He reiterated that Gaza will not stand alone in the face of this aggression, just like the rest of the occupied Palestinian territories. The President held the Israeli government responsible for the cut-off of basic supplies, including water, electricity, and…

Jordan’s King Abdullah says there is a need to intensify diplomatic efforts to prevent escalating Israeli-Palestinian violence with “dangerous repercussions” for the region’s security. In comments made on state media, Abdullah said contacts with regional and international parties were under way to discuss “urgent international action to avoid an escalation and prevent the region from the consequences of a new round of violence”. Source: Aljazeera