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COP28 puts spotlight on state oil giants
Western energy firms are the usual suspects when it comes to criticism about the sector's role in climate change, but a less visible lineup of powerful state companies dominates the industry.
After success abroad, Saudi designers hit the runway at home
Couturier Adnan Akbar's past clients included Princess Diana and two French first ladies, but until recently he had never staged a major fashion show in his native Saudi Arabia. Beyond Adnan Akbar and Mohammed Ashi, who has dressed celebrities including Beyonce and Zendaya, the line-up was rounded out by Saudis with much less visibility overseas.
UK to probe of UAE-backed takeover of Telegraph
The UK government said on Thursday it had triggered a formal probe on public interest grounds into the proposed sale of the Telegraph Media Group to an Abu Dhabi-backed investment fund. The Telegraph group has been controlled by twin brothers Frederick and David Barclay for nearly two decades but has been put up for sale over unpaid debts.
Hundreds of new oil and gas projects approved despite climate crisis
More than 400 oil and gas projects were approved globally in the last two years despite calls to abandon all new hydrocarbon development, new figures showed as the UN COP28 climate talks opened Thursday. All of the 437 new projects since 2022 have received their "final investment decision" -- a key commitment where investors sanction the development and production of a new hydrocarbon field.
US Fed's favored inflation gauge slows in October
A key inflation measure used by the US Federal Reserve to set interest rates eased further last month amid declining energy and goods prices, according to government data published Thursday. Energy prices fell by 2.6 percent from a month earlier, while goods prices declined by a more modest 0.3 percent.
Former UK finance minister Alistair Darling dies aged 70: family
Alistair Darling, the UK finance minister when the 2008 financial crisis hit, has died at the age of 70 following a "short spell" in hospital, his family said on Thursday. Darling died "after a short spell in Western General Hospital under the wonderful care of the cancer team", it added.
UK's RMT union members accept pay deal to end long-running rail strikes
The RMT rail union on Thursday said its members have voted in favour of a pay deal to end more than a year of walkouts on the UK's strike-plagued rail network. While the Rail, Maritime and Transport (RMT), which represents various types of rail workers, has accepted a deal, the Aslef union, which represents drivers, has yet to come to an agreement.
Intense talks as OPEC+ meets to decide over output amid tumbling prices
Uncertainty hovered over what major oil-producing nations -- collectively known as OPEC+ -- will decide on output policy as they headed into virtual meetings Thursday in a bid to halt a continuous slump in prices. But heading into the meeting, disagreement over output quotas persisted among the OPEC+ group, which was forced to delay its key meeting by four days.
Eurozone inflation falls to more than two-year low
The annual rate of inflation in the eurozone fell to a more than two-year low in November, the EU's official statistics agency said Thursday. Belgium was the only country where consumer prices fell in November, dropping by 0.7 percent, according to Eurostat figures.
AFP
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