Author: ALJAZEERA

Global economy to grow 3 percent in 2026, as AI demand partly offsets energy shock from Iran war, IMF says.The International Monetary Fund (IMF) has cut its 2026 global growth forecast for the second time this year, citing the “lingering effects” of the energy shock caused by the US-Israel war on Iran.The global economy is expected to grow 3 percent in 2026, down from April’s forecast of 3.1 percent, a “modest slowdown” partly offset by AI-driven demand, the IMF said in its latest outlook, released on Wednesday.Recommended Stories list of 4 itemsend of listGrowth is forecast to rebound to 3.4…

Brent crude rises above $76 a barrel for the first time in two weeks amid renewed violence in Strait of Hormuz.Oil prices have surged as renewed hostilities between the United States and Iran threaten to derail a fragile ceasefire that had brought some relief to global energy markets.Brent crude, the main international benchmark, rose more than 3 percent on Wednesday, reversing a slide that had seen prices return to pre-war levels.Recommended Stories list of 4 itemsend of listBrent futures for September stood at $76.48 a barrel as of 06:30 GMT, the highest since June 23.Asian stock markets were mixed, with…

Yang Youlin, an ex-official in the eastern city of Nanjing, accepted bribes in exchange for business favours, court says.By Reuters and The Associated PressPublished On 7 Jul 20267 Jul 2026A Chinese court has sentenced a former senior official in the eastern city of Nanjing to death for accepting bribes.Yang Youlin illegally accepted money and property totalling more than 2.2 billion yuan ($324m) while holding various government posts from 1993 to 2023, the Changzhou Intermediate People’s Court said in a statement on Monday.Recommended Stories list of 4 itemsend of listThe bribes were paid to Yang in exchange for help with “undertaking…

Ottawa says future pipeline will reduce economic dependence on the US amid Donald Trump’s trade war.By AFP and The Associated PressPublished On 3 Jul 20263 Jul 2026Canadian Prime Minister Mark Carney has secured an investment agreement with British Columbia to build a major oil pipeline, overcoming initial opposition from the westernmost province.The future pipeline is expected to carry 1 million barrels of oil a day – from the oil-rich province of Alberta, across the entirety of British Columbia, to the country’s west coast – allowing Canada new access to Asian markets and reducing its economic dependence on the United States.Recommended…

A former member of the European Parliament was hacked with Pegasus spyware while serving on a committee investigating surveillance by the tool’s Israeli creator, a Canadian research group has found.The iPhone of Greek investigative journalist Stelios Kouloglou, who served as an MEP from 2015 to 2024, was infected at least three times with Pegasus spyware in 2022 and 2023, Citizen Lab said in a report released on Friday.Recommended Stories list of 4 itemsend of listThe three incidents, which occurred while Kouloglou was in Athens and Brussels, coincided with the ex-parliamentarian’s time on a committee tasked with investigating the illegal use…

A massive heatwave sweeping across the United States is straining the country’s power grid and water supplies, testing public support for the rapid expansion of AI data centres, which consume vast amounts of electricity and water.The heatwave comes at a time when the US is racing to build thousands of new AI data centres to support the rapid growth of artificial intelligence. Utilities, regulators, and policymakers have increasingly warned that the pace of construction is outstripping the expansion of the country’s electricity and water infrastructure.Recommended Stories list of 4 itemsend of listAcross the political spectrum, lawmakers are calling for increased…

Published On 2 Jul 20262 Jul 2026The administration of United States President Donald Trump is slashing commercial fishing regulations from coast to coast, including reopening New England waters to scallop fishing that was banned after overfishing.“We’re opening the Atlantic and the Pacific, and the American consumers are going to benefit from what we’re doing now,” White House adviser Peter Navarro said in a briefing with reporters on Thursday.Recommended Stories list of 4 itemsend of listThe US Department of Commerce and National Oceanic and Atmospheric Administration (NOAA) announced regional priorities that the government said were designed to revitalise the seafood sector.In…

Brent falls below $71 a barrel amid reports of progress in talks to end the war permanently.Published On 2 Jul 20262 Jul 2026Oil prices have fallen to levels not seen since the start of the US-Israel war on Iran amid rising hopes for a breakthrough in negotiations aimed at sealing a permanent peace deal.Brent crude fell more than 1 percent on Thursday to below $71 a barrel, returning the international benchmark to pre-war prices.Recommended Stories list of 4 itemsend of listBrent futures for August delivery stood at $70.82 per barrel as of 04:30 GMT, lower than at any point since…

In 2026, a mounting housing crisis in Western nations has finally forced its way onto the agenda of some of the world’s richest governments.In the UK, a landmark renters’ rights law took effect in England and Wales on May 1, ending “no-fault” evictions in one of the country’s biggest private-rental reforms in decades.Across the Channel, the European Commission and Parliament have launched a new push on housing affordability, while in Washington, the United States Senate has advanced a rare bipartisan bill aimed at loosening barriers to new construction and expanding affordable housing supply.Experts say the lack of affordable housing is…

New York City’s rent freeze fulfills a key campaign promise from Mayor Zohran MamdaniNew York City has passed a rent freeze for roughly one million regulated apartments, delivering on a signature campaign promise for Mayor Zohran Mamdani.The 7-1 vote was handed down by the city’s Rent Guidelines Board on Thursday. The decision will freeze rent increases on one- and two-year leases on rent-stabilised apartments.Recommended Stories list of 4 itemsend of list“This is a historic victory for New York City tenants,” Mamdani said in a statement provided to Al Jazeera. “This is the relief that working people across our city deserve.”Rent-stabilised…