World & Politics
Over 1,000 people die in Saudi Arabia during Hajj due to heat wave - 06/21/2024
Over a thousand individuals have lost their lives during the Hajj as a result of the extreme heat in Mecca, The Independent writes. "More than a thousand people have died during the hajj in Saudi Arabia, with temperatures in Mecca peaking at 51.8 degrees Celsius in recent days," the newspaper notes. The precise number of those who perished during the pilgrimage has not yet been disclosed by the...
Energy Institute: Global emissions from fossil fuels hit record high - 06/21/2024
Global energy consumption, from hydrocarbon and renewable sources combined, hit a record high at the end of the previous year, according to information from the international Energy Institute (EI). Global primary energy consumption reached 620 exajoules (eJ) in 2023, a new record and an increase of 2% over the previous year. In 2022, hydrocarbon energy consumption also hit a record high, up 1.5%...
Eurozone GDP growth estimate for Q1 confirmed at 0.3% - 06/10/2024
The GDP of the eurozone increased by 0.3% in the first quarter of 2024 over the preceding three months, writes the European Union's statistical agency (Eurostat) in its report. The economy of the eurozone expanded by 0.4% annually. Both indicators' behaviors matched the initial data and the predictions of specialists surveyed by Trading Economics. The eurozone GDP's quarterly dynamics were at...
EU starts work on accelerating investment in hydrogen market - 06/04/2024
A new phase in the development of the EU hydrogen market was revealed by the European Commission on Monday. The work on a pilot mechanism has begun as part of the recently adopted package on decarbonized gases and hydrogen. "Hydrogen is a key component of the EU's shift to renewable energy. Meeting our zero emissions targets is essential, but so is continuing to be competitive and keeping Europe...
Canada's Q1 GDP grows worse than forecasts - 06/03/2024
Canada's watchdog reported that the country's economy expanded by 1.7% in the first quarter, the greatest annualized rate in a year. Analysts polled by Trading Economics predicted a far bigger increase of 2.2%. In comparison to 2023's fourth quarter, the GDP of Canada increased by 0.4%. The updated figures show that the Canadian economy grew by 0.1% annually and was flat on a quarterly basis...
Researchers: Atlantic hurricane season 2024 could be the most active in history - 06/03/2024
The United States National Oceanic and Atmospheric Administration's meteorologists issued a warning on the official start of hurricane season in the Atlantic Ocean, predicting higher-than-normal storm activity this year. The office posted a statement, "The National Oceanic and Atmospheric Administration's forecast indicates that hurricane activity and number of hurricanes will be above normal...
S&P upgrades India's 'BBB-' rating outlook to 'positive' - 05/30/2024
International rating agency S&P Global Ratings confirmed India's long-term foreign and local currency credit ratings at 'BBB-'. The ratings outlook was previously "stable," but it is now "positive." "India's credit profile is improved by its strong economic growth. We anticipate that the nation's solid economic foundation will continue to grow over the next two to three years," the agency stated...
British parliament dissolved ahead of elections - 05/30/2024
The British Parliament halted operations on Thursday in anticipation of the general election on July 4. The Parliament was dissolved on Thursday, May 30, 2024. The House of Commons and the House of Lords have finished their business. The Parliament’s website stated that there are presently no Members of Parliament and that all House of Commons seats will stay empty until the general election on...
Ireland, Spain and Norway officially recognize Palestine as an independent state - 05/29/2024
The governments of Norway, Spain, and Ireland have formally acknowledged Palestine's independence. Pedro Sanchez, the prime minister of Spain, stated that there is no other option to bring the violence in the area closer to an end. On Tuesday, May 28, the governments of Norway, Spain, and Ireland formally acknowledged Palestine as an independent nation. The three nations stated, according to...
Saudi investment fund sets up a space company - 05/28/2024
According to a statement from the Public Investment Fund (PIF) of Saudi Arabia, which was cited by Al Arabiya TV, the fund made its first investment in the satellite and space industries when it formed Neo Space Group. Neo Space Group, or NSG is the PIF's first space-related investment. It will concentrate on establishing and growing Saudi Arabia's commercial space operations and offering...
