WORLD

Climate Goals Depend On Fixing Global Finance: Top Economist

Meeting Paris treaty climate goals will depend on revamping the architecture of global finance, says economist Jeffrey Sachs
If world leaders and the heads of multilateral development banks gathered at a Paris summit recognise that climate goals depend on revamping the architecture of global finance, it would be a "historic" development, a top development economist said Thursday.

Millions Head To Mecca For Huge Hajj In Saudi Heat

Muslim pilgrims perform prayers around the Kaaba, Islam's holiest site, at the Grand Mosque in the Saudi holy city of Mecca ahead of the hajj pilgrimage
Enormous crowds of worshippers thronged Mecca, Islam's holiest city, on Friday for the biggest hajj pilgrimage in years, with more than two million expected to brave the scorching Saudi Arabian heat.
United Arab Emirates company AD Ports has agreed to take over part of Pakistan's main Karachi port

Cash-strapped Pakistan To Lease Part Of Karachi Port To UAE For $220 Million

AD Ports Group of the United Arab Emirates (UAE) signed an agreement Thursday to take over the running of part of Pakistan's main Karachi docking facility in a deal worth an immediate $220 million, the company said. AD Ports Group has formed a joint venture with another UAE company, Kaheel Terminals, to take over berths from Karachi Port Trust (KPT), the state-owned handling agency.
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War in Ukraine

60 Bn Euros Pledged To Help Ukraine Rebuild

Foreign donors have pledged 60 billion euros ($66 billion) of new financial support for Ukraine, the UK said Thursday, as an international conference aimed at funding the war-ravaged country's reconstruction closed.
The US Coast Guard said the Titan submersible appears to have suffered a 'catastrophic implosion' on a dive to the Titanic

Titan Sub: What Is A 'Catastrophic Implosion'?

A "catastrophic implosion," such as that believed to have destroyed the Titan submersible, would have happened with incredible force and speed given the crushing water pressure on the floor of the ocean.
Turkey's consumer prices rose at an annual rate of 85 percent at one stage last year

Turkey Hikes Interest Rate In Erdogan Policy U-turn

Turkey on Thursday pivoted away from years of unconventional economics promoted by President Recep Tayyip Erdogan as the central bank nearly doubled its key interest rate to fight inflation and steady the troubled lira.
Royal Canadian Air Force CP-140 Aurora maritime surveillance aircraft searches for the missing OceanGate submersible

Search Intensifies For Titanic Sub With Only Hours Of Oxygen Left

A multinational search team crisscrossed the sea and skies above the century-old wreck of the Titanic for a fifth day on Thursday, seeking a tourist submersible that went missing with five people aboard and was just hours away from the presumed end of its air supply.
Kuwait's Prime Minister Sheikh Ahmad Nawaf al-Ahmad al-Sabah (R) meeting with Iran's Foreign Minister Hossein Amir-Abdollahian (L), in Kuwait City

Iran Top Diplomat In Kuwait On Third Leg Of Gulf Tour

Iran's top diplomat arrived in Kuwait Wednesday, the third leg of a Gulf tour that saw him hold "constructive" talks with his Omani counterpart in Muscat earlier in the day. It came a day after Tehran held discussions in Doha on its nuclear programme with Qatari and European Union officials, the latest in a flurry of diplomatic moves by the Islamic republic as it seeks to reduce its isolation, improve its economy and project strength.
The flags of the United States and India on the Eisenhower Executive Office Building at the White House in Washington

Exclusive-US To Ease Visas For Skilled Indian Workers As Modi Visits

The Biden administration will make it easier for Indians to live and work in the United States, using this week's state visit by Prime Minister Narendra Modi to help some skilled workers enter or remain in the country, according to three people familiar with the matter.
Activists demonstrated against fossil fuel finance in central Paris on the eve of the summit

Paris Climate Summit Seeks Global Finance Reform

Dozens of global leaders will gather in Paris Thursday for a summit to tease out a new consensus on international economic reforms to help debt-burdened developing countries face a growing onslaught of challenges, particularly climate change.
The way cities are built -- with too little greenery and too much concrete -- exacerbates heatwaves, with the so-called heat island effect

How Climate Change Fuels Extreme Heat

Heatwaves across Asia and beyond have already broken records this year, while the arrival of the El Nino climate phenomenon will mean even more extreme temperatures.
Turkey's new economic team is pivoting away from the unconventional policies promoted by President Recep Tayyip Erdogan

Turkey Set To Pivot To Orthodoxy With Rate Hike

Turkey was widely expected Thursday to pivot away from years of unconventional economics promoted by President Recep Tayyip Erdogan and dramatically raise interest rates to fight inflation and steady the troubled lira.

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