By Majd Othma

KUWAIT: Global economies, particularly GCC economies must draw a strategic plan to weather the possible impacts of climate change on their economies, a Kuwaiti economist said, pointing out that such a clear strategy could help Kuwait economy cushion the current and future effects of climatic turbulences.

ORANIA, South Africa: Most of South Africa is wallowing in endless power cuts, but a remote whites-only farming town in the country’s sun-drenched centre is close to producing enough electricity to be self-sufficient.

SAN FRANCISCO: Facebook-parent Meta reported on Wednesday its first quarterly revenue drop and a plunging profit as the social media powerhouse battles a turbulent economy and the rising phenomenon of TikTok.

WASHINGTON: The US economy contracted for a second straight quarter between April and June, government data showed Thursday, adding fuel to recession fears in a headache for President Joe Biden ahead of midterm elections.

Kuwait: Kuwait crude oil plunged USD 2.48 during Wednesday’s trading sessions to reach USD 108.71 per barrel (pb), compared with USD 111.19 pb the day before, Kuwait Petroleum Corporation (KPC) said Thursday.

New York: Pfizer reported a jump in second-quarter profits Thursday behind a near doubling of revenues driven by sales of its Covid-19 vaccine and therapeutic drug Paxlovid.

FRANKFURT: German automaker Mercedes-Benz said Wednesday it was upgrading its forecast for full-year sales as its decision to focus on top-of-the-range models begins to pay off despite supply constraints in the industry.

WASHINGTON: The global economy is facing a worrisome slowdown, but the critical priority for policymakers is to bring raging inflation under control, the IMF’s chief economist said Tuesday.

KUWAIT: Zain, the leading digital service provider in Kuwait, announces the launch of next-generation Fiber-to-the-Room (FTTR) technology, becoming the first telecom operator in Kuwait to offer this revolutionary technology in the Kuwaiti market.