Author: Steven Sahiounie

Two leaders of the US Consumer Products Safety Commission are calling for the agency to investigate e-commerce retailers Shein and Temu after “deadly baby and toddler products” were sold on both websites, according to a letter posted on the US CPSC website on Tuesday. US CPSC Commissioners Peter Feldman and Douglas Dziak want the agency to evaluate how Singapore’s Shein, China’s Temu and other foreign-owned e-commerce platforms comply with its rules, handle relationships with third-party sellers and represent imported products. Shein and PDD Group’s Temu, which both ship cheap merchandise into the US from China, are raising “specific concerns” for the Commission for their…

A sanctioned central banker is to represent Russia on the board of the Washington-based International Monetary Fund, the current holder of the post said on Tuesday.

British luxury fashion label Burberry is set to exit London’s FTSE 100 after 15 years at the top-tier index, the stock exchange announced Wednesday, as analysts cited strategic mistakes and weak demand from China. The relegation will “take effect from the start of trading” on September 23, the exchange’s FTSE Russell subsidiary said in a statement. Burberry, whose former chief executive hastily departed in July following poor company earnings, and the global luxury sector as a whole have been hit by strains in China’s economy, the world’s second biggest. The exit of Burberry — a 168-year-old label famous for its…

The US, Britain, and the EU are expected to sign the first international treaty on the use of AI that is legally binding, the Financial Times reported on Thursday.

Ukraine’s decision to end an agreement allowing Russia to pump gas via its territory will hurt Europe more than it will Moscow, Russian President Vladimir Putin said on Thursday.

South African President Cyril Ramaphosa said on Thursday that he did not believe Chinese investments in Africa were pushing the continent into a “debt trap” but were instead part of a mutually beneficial relationship.

Malaysia Airlines said on Friday it had found a “potential issue” with the engine of an Airbus A350-900 aircraft in its fleet but added that it had been resolved.

The price of gold has surged to historic highs this year, surpassing $2,500 per ounce and catching the attention of global markets.

DUBAI: The UAE on Thursday announced the completion of the Arab world’s first nuclear power plant, calling it a “significant step.” Abu Dhabi’s Barakah Nuclear Energy Plant will produce 40 terawatt-hours of electricity annually after its fourth and final reactor has entered commercial operation, the state-owned Emirates Nuclear Energy Corporation (ENEC) said in a statement. It will generate 25 percent of the electricity needs of the hot, desert Gulf state, where air-conditioning is ubiquitous — nearly the equivalent of New Zealand’s annual consumption, ENEC said. The station will power companies including the Abu Dhabi National Oil Company, one of the…

Saudi Arabia’s National Housing Co. has been named the GCC’s top real estate developer for 2024, following SR13 billion ($3.47 billion) in sales during the first half of the year.