World Daily News

ArcelorMittal's Reims and Denain Sites Face Closure Amid Strikes

ArcelorMittal's service centers in Reims and Denain have gone on strike following the company's announcement of potential site closures due to declining activity in the industrial and automotive sectors.

Business

Algeria's 2025 Budget: Record Spending Amidst Significant Deficit

2024-11-24T16:51:55.284Z

Algeria's President Tebboune has approved a historic budget for 2025, featuring record spending and a significant deficit, highlighting the country's reliance on oil and gas revenues.

Business

Turkey's Trade with Arab Nations Hits Record Highs in 2024

2024-11-24T16:51:51.150Z

Turkey's trade with Arab countries has surged to record levels in 2024, with exports reaching $39.9 billion, driven by political rapprochement and strategic economic partnerships.

Business

Iraq Faces Electricity Crisis as Iranian Gas Supplies Halted

2024-11-24T19:41:56.888Z

Iraq's electricity supply faces a significant setback as Iranian gas imports are halted for maintenance, leading to a loss of 5.5 gigawatts from the national grid. The Ministry of Electricity is coordinating efforts to mitigate the impact while addressing long-standing energy challenges.

Business

Egypt's Economy Strained by Red Sea Tensions, Warns Foreign Minister

2024-11-24T20:52:05.896Z

Egyptian Foreign Minister Badr Abdel Aty warns of significant economic impacts due to escalating tensions in the Red Sea, leading to a drastic decline in Suez Canal revenues.

Business

Netanyahu's Arrest Warrants Pose Threat to Israel's Economy

2024-11-24T17:21:51.087Z

The issuance of international arrest warrants against Israeli leaders threatens the stability of Israel's economy, as highlighted by a Calcalist report, which warns of decreased foreign investment and rising debt levels.

Business

QatarEnergy Increases Stake in Offshore Namibia Exploration Blocks

2024-11-24T16:12:19.356Z

QatarEnergy has acquired additional stakes in two offshore exploration blocks in Namibia, increasing its interest in Block 2913B to 35.25% and Block 2912 to 33.025%.

2024/10/25

Business

Moody's Maintains France's Debt Rating but Downgrades Outlook to Negative

2024-10-25T20:54:16.903Z

Moody's has maintained France's sovereign debt rating at Aa2 but downgraded its outlook to negative, indicating growing concerns over public finances and the government's ability to implement necessary reforms.

Business

Türkiye Begins Oil and Gas Exploration in Somalia

2024-10-25T19:14:16.223Z

Türkiye has initiated a seismic survey for oil and gas off the coast of Somalia with the arrival of the Oruc Reis vessel, marking a significant step in the country's energy development.

Business

IMF Predicts Slowing Global Growth Amid Rising Debt Challenges

2024-10-25T18:44:02.733Z

The IMF warns of a decline in global GDP growth and rising debt, highlighting challenges faced by governments worldwide as they strive to improve opportunities for citizens and address climate change.

Business

E. coli Outbreak Linked to McDonald's: 75 Cases Reported in the U.S.

2024-10-25T18:24:06.995Z

The E. coli outbreak linked to McDonald's hamburgers has resulted in 75 infections across 13 states, prompting lawsuits and a recall of slivered onions.

Business

Erdogan Announces Record Defense Exports at SAHA Expo 2024

2024-10-25T17:25:19.406Z

Turkish President Recep Tayyip Erdogan announced record defense exports at the SAHA Expo 2024, highlighting advancements in the country's defense industry.

Business

Algeria's Trade Sector Reforms Aim for $29 Billion in Non-Oil Exports by 2030

2024-10-25T15:05:02.628Z

Algeria is implementing significant reforms in its trade sector to diversify its economy away from hydrocarbons, aiming for $29 billion in non-oil exports by 2030. The government is focusing on regulating foreign trade to ensure local market stability while encouraging partnerships with foreign investors.

Business

China Offers Duty-Free Trade to Afghanistan to Boost Economic Ties

2024-10-25T14:34:12.450Z

China has announced duty-free access for Afghanistan to enhance economic ties and support the Taliban government in diversifying its economy.

Business

Central Bank of Russia Increases Key Rate to 21% to Combat Inflation

2024-10-25T14:24:12.427Z

The Central Bank of Russia has raised the key interest rate to 21% to tackle persistent inflation, which remains above expectations despite slight improvements.

Business

E. coli Outbreak: First Lawsuit Filed Against McDonald's After Fatality

2024-10-25T14:14:20.563Z

The E. coli outbreak linked to McDonald's has resulted in one death and numerous illnesses, prompting a lawsuit and significant stock price decline for the fast-food chain.

Business

New 5,000 Ruble Banknotes Rolled Out in Russia with Enhanced Security Features

2024-10-25T13:14:36.276Z

The Bank of Russia has begun circulating updated 5,000 ruble banknotes with enhanced security features, starting in regions like Altai. The new design showcases regional landmarks and will gradually replace the older series.

Business

Lebanon Placed on FATF Grey List: Economic Implications and Reforms Needed

2024-10-25T12:24:41.115Z

Lebanon has been added to the FATF grey list due to deficiencies in combating financial crimes, which could worsen its ongoing financial crisis.

Business

Putin Unveils BRICS Financial Initiatives to Strengthen Economic Independence

2024-10-25T12:23:58.690Z

At the recent BRICS summit, President Putin outlined plans to enhance financial cooperation among member states, focusing on trade in national currencies and developing a new investment platform aimed at fostering economic growth and independence from Western financial systems.

Business

Morocco's 2025 Budget: Aiming for Growth Amid Challenges

2024-10-25T11:14:50.726Z

Morocco's 2025 budget, presented by Minister Nadia Fettah Alaoui, aims for a 4.6% economic growth amid challenges like unemployment and high debt. Key investments focus on renewable energy and infrastructure for the 2030 World Cup, while also supporting vulnerable populations.

Business

Impact of Trump vs. Harris Election on Global Markets and Insulin Costs

2024-10-25T11:04:05.853Z

The upcoming U.S. presidential election between Donald Trump and Kamala Harris is poised to have profound implications for both the U.S. economy and global markets. With Trump potentially increasing tariffs, Germany could face significant GDP losses, while Harris emphasizes the importance of maintaining insulin price caps for vulnerable communities.

Business

Turkish Aerospace Industries (Tusas) Attacked: Government Blames PKK

2024-10-25T10:25:24.381Z

Turkish Aerospace Industries (Tusas) was attacked on October 23, 2024, resulting in five deaths and 22 injuries. The Turkish government has blamed the Kurdistan Workers' Party (PKK) for the attack.

Business

Hybrid Car Sales Surpass Petrol Cars in Europe for First Time

2024-10-25T09:13:56.734Z

In a historic shift, hybrid car sales have outpaced petrol car sales in the European Union, marking a significant trend towards greener vehicle options amidst declining overall new car sales.

Business

La Poste and MAN Lead the Charge in Electric Truck Adoption

2024-10-25T07:34:20.494Z

La Poste has launched electric trucks for parcel delivery in Auvergne, while MAN has introduced its first heavy-duty electric truck, marking significant milestones in the shift towards sustainable transport.