Saudi shuts down oil pipeline as Houthis tighten grip on Red Sea shipping
Saudi Arabia has temporarily shut down its 1,200-kilometre East-West oil pipeline after it was hit by a drone attack, with Riyadh and Baghdad sayin...
A new trade deal between the U.S. and EU has triggered backlash in Germany, with officials warning it threatens free trade and endangers tens of thousands of jobs.
The recently announced trade deal between the United States and the European Union has ignited strong criticism in Germany, particularly from political and business leaders.
The agreement, unveiled by U.S. President Donald Trump and European Commission President Ursula von der Leyen, imposes a 15% tariff on most EU exports like cars and semiconductors, while keeping 50% tariffs on metals such as steel and aluminum.
Critics argue the deal severely undermines Germany’s export-driven economy, especially its automotive sector.
Bavarian Minister Hubert Aiwanger criticized the tariffs as harmful to global trade.
"Tariffs will only distort the market. I hope that the United States would lower tariffs until they reach zero, so as to truly achieve free circulation of goods on a global scale," he added.
Automotive journalist Frank Volk warned that the uncertain business climate and potential relocation of production facilities could result in the loss of tens of thousands of German jobs.
While the White House described the deal as a modernization of transatlantic trade, European leaders voiced their discontent.
French Prime Minister Francois Bayrou criticized the EU’s concession as a 'submission,' and German Chancellor Friedrich Merz expressed concern that the agreement would heavily burden Germany’s economy, which relies heavily on exports.
Overnight Iranian strikes on an air base in Jordan damaged multiple U.S. aircraft and left one without a wing, American media reported. Meanwhile, explosions were heard across parts of southern Iran according to local media reports.
Iranian President Masoud Pezeshkian arrived in New Delhi on Friday to attend the weekend BRICS summit, amid the ongoing U.S.-Iran conflict, joining a host of foreign dignitaries.
Ukrainian forces struck a Russian oil refinery in Siberia and a seaport in Dagestan in the past 24 hours, President Volodymyr Zelenskyy said. He will meet Canadian Prime Minister Mark Carney on Thursday to discuss air defences for Ukraine over winter.
Mexico and the U.S. are racing to secure a trade deal before the U.S. midterm elections in less than eight weeks, according to six sources familiar with the talks, with failed negotiations between Washington and Canada adding urgency.
Dubai’s property market has spent years climbing. Now, for the first time since 2021, prices are moving in the opposite direction.
Saudi Arabia has temporarily shut down its 1,200-kilometre East-West oil pipeline after it was hit by a drone attack, with Riyadh and Baghdad saying the strike originated from Iraq.
Russia's Defence Ministry said its forces struck two cargo vessels overnight in the Ukrainian Black Sea port of Chornomorsk, the Interfax news agency reported on Saturday.
U.S. President Donald Trump said on Saturday he would “love” to see British-run Northern Ireland unify with Ireland, remarks made during a visit to Dublin that drew a sharp response from pro-British unionists in Northern Ireland.
BRICS leaders have called for maximum restraint over the war in the Middle East, warning against actions that could further worsen tensions as the United States and Iran resume strikes against each other.
Dubai’s property market has spent years climbing. Now, for the first time since 2021, prices are moving in the opposite direction.
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