Author: News Desk

Russia has tasked mercenaries to hold sections of the frontline in Ukraine in a sign it is running short of combat infantry, Britain’s Ministry of Defence said on Friday, as Kyiv steps up a counter-offensive in the south. Greater reliance on paid fighters from the Russian private military company Wagner Group for frontline duties rather than their usual work in special operations would be another sign that Russia’s military is under stress six months into its war in Ukraine. But the British defence ministry said in an intelligence update that Wagner mercenaries were unlikely to make up for the loss…

The German economy stagnated in the second quarter, data showed on Friday, with the war, pandemic and supply disruptions bringing Europe’s largest economy to the edge of contraction. Gross domestic product was unchanged quarter on quarter in adjusted terms, the federal statistics office said. A Reuters poll of economists had forecast growth of 0.1%. However, the economy did better in the first quarter than originally reported, with the office upwardly revising that quarter’s growth to 0.8% from 0.2%. Household and government consumption in particular helped support the economy in the April to June period, whereas the trade balance held it…

Billionaire investor Bill Ackman on Thursday said he expected inflation to come down soon, but not to the level of 2% unless the U.S. Federal Reserve maintained “materially higher” interest rates for an extended period. Ackman’s comments come after the Fed announced a 75-basis-point rate increase in interest rates on Wednesday. That coupled with earlier actions have now jacked the overnight interest rate from near zero to a level between 2.25% and 2.50%. Chairman Jerome Powell said that he could now allow the central bank to begin to slow the pace of rate increases, depending on inflation. However, he cautioned…

Interior Ministry Undersecretary for Nationality, Passports and Residence Affairs (NPRA) Shaikh Hisham bin Abdulrahman Al Khalifa has chaired the third meeting of the e-passport committee. The meeting was held in the presence of representatives from the Foreign Ministry, Transportation and Communication Ministry, Information and e-Government Authority and NPRA officials. The undersecretary hailed the efforts to implement the e-passport project as part of the directives of His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince and Prime Minister, to execute the project within the best international standards. Shaikh Hisham highlighted that the project is being followed up by…

Under the directives of UAE President His Highness Sheikh Mohammed bin Zayed Al Nahyan, Abu Dhabi Executive Council approved a new decision to raise the pensions of UAE Nationals working in the emirate’s public schools to 80% of their total salary, contributing to better living standards and more financial stability for Emirati families. The decision will benefit more than 7,600 Emiratis working in Abu Dhabi’s public schools in their retirement. Abu Dhabi Government will spend more than AED6.6 billion to implement the new pension rate, paying the difference between the current monthly deductions and the higher 80% rate for the entire…

As part of the official visit of His Royal Highness Prince Mohammed bin Salman bin Abdulaziz, Crown Prince and Deputy Prime Minister of Saudi Arabia, to Greece. The strategic partnership was announced between the private sectors in the two countries to build a data cable project linking the East and the West, in a way that would ensure the smooth digital supply of data worldwide at a time when the world is witnessing a growth of data traffic by more than 30%, SPA reported. This partnership comes through leading the (EMC) project by the Saudi Telecom Company (STC) in partnership…

The U.S. Justice Department has opened a criminal investigation into Cassava Sciences Inc involving whether the biotech company manipulated research results for its experimental Alzheimer’s drug, two people familiar with the inquiry said. The Justice Department personnel conducting the investigation into Austin, Texas-based Cassava specialize in examining whether companies or individuals have misled or defrauded investors, government agencies or consumers, according to the sources, who spoke on condition of anonymity. The sources did not provide details of the focus of the probe and whether the department was looking into any specific individuals. As in any Justice Department investigation, this one could…

Scientists advising the World Health Organization (WHO) on monkeypox say the window is closing to stop its spread, with cases currently doubling every two weeks, raising concerns that it will take several months for the outbreak to peak. WHO Europe has forecast just over 27,000 monkeypox cases in 88 countries by Aug. 2, up from 17,800 cases in nearly 70 countries at the latest count. Making predictions beyond that are complex, scientists around the world told Reuters, but there is likely to be sustained transmission for several months and possibly longer, they said. “We have to get in front of…

U.S. President Joe Biden and China’s leader Xi Jinping are expected to talk on Thursday, a source familiar with the planning said, amid new tensions over Taiwan and Russia’s invasion of Ukraine. White House national security spokesperson John Kirby told reporters on Tuesday that managing economic competition between the two countries would also be a focus of the call. It will be the fifth call between the leaders, and comes as China has delivered heightened warnings to the Biden administration about a possible visit by U.S. House Speaker Nancy Pelosi to democratically governed Taiwan, which Beijing claims as its territory.…

US House of Representatives Speaker Nancy Pelosi’s rumoured plan for a trip to Taiwan has infuriated China and left the White House with a serious geopolitical headache. How big a problem is this? China has warned of “serious consequences” if Mrs Pelosi were to proceed with her visit. Second in line to the presidency, Mrs Pelosi would be the highest ranking US politician to travel to the island since 1997. This rankles China, which sees self-ruled Taiwan as a breakaway province that must become a part of the country. Beijing has not ruled out the possible use of force to…