Chinese cluster now world’s top innovation hotspot: UN
Geneva, Switzerland -- Shenzhen-Hong Kong-Guangzhou has overtaken Tokyo-Yokohama to become the world's top cluster for innovation, the United Nations said...Business Economy
ADNOC completes $316 million sale of ADNOC L&S shares
ABU DHABI – Abu Dhabi National Oil Company (ADNOC) has sold a 3 percent stake in its logistics and shipping...Business
Equinor signs $27 bn gas deal
The 10-year contract was signed with Centrica.Natural gas accounts for 38% of UK's total energy supply, according to the IEA, making it the top fuel source, and the nation depends heavily on imports.
Russia's invasion of Ukraine and Western sanctions roiled energy markets, sparking a rise in prices that British consumers are still struggling with.
Israel arms exports to UAE, Bahrain, Morocco rise sharply after 2023
Sales to countries considered part of the Abraham Accords -- the United Arab Emirates, Bahrain and Morocco who signed groundbreaking...Israel's defense ministry said that its arms exports hit an all-time high of more than $14.7 billion in 2024, despite international criticism of ongoing Gaza onslaught.
A majority -- 56.8 percent -- of the deals signed were "mega-deals" valued at at least $100 million each, the ministry said, adding that "operational achievements" in the Gaza war.
New WEF report reveals how tech convergence will reshape industries
Geneva, Switzerland – The World Economic Forum today released a new report examining how emerging technology combinations are reshaping industries...AI is a key enabler, making many emerging tech synergies commercially viable across industries.
Digital twins, enhanced by AI and sensors, are expanding efficiency in sectors from aerospace to healthcare.
Middle East tourism projected to reach $350 billion by 2030: ATM report
Dubai, UAE – The Middle East’s tourism sector is poised for unprecedented expansion, with a new report predicting a 50...Inbound travel from outside the region is set to grow by 13 percent annually up to 2030, while outbound business travel will surge at 9 percent per year.
China ranks third by value in leisure spending, expected to increase by 130 percent by 2030.
Meta secures nuclear energy in 20-year Illinois plant deal
Washington, United States -- Facebook owner Meta announced Tuesday a 20-year nuclear energy agreement with US-based Constellation Energy to secure...The investment marks big tech's latest move to meet surging electricity demand from AI, with Microsoft, Google and Amazon also turning to nuclear power as an energy source.
Under the deal, Meta's unspecified investment will replace state government subsidies to keep the Clinton Clean Energy Center operating beginning in 2027.
Airlines less optimistic for 2025, facing ‘headwinds’: IATA
New Delhi, India -- Airlines on Monday revised down their traffic and profit forecasts for 2025, citing "headwinds" for the...The International Air Transport Association (IATA) estimates fewer than five billion air journeys will take place this year, compared with the previously forecast 5.22 billion.
Commercial aviation revenues are expected to remain below the $1 trillion forecast in the previous December projections, with IATA now reporting $979 billion.
Indian airline IndiGo orders 30 Airbus A350 widebody planes
New Delhi, India -- Indian airline IndiGo said on Sunday it had signed an order for 30 more Airbus A350-900s,...The low-cost carrier, India's biggest by market share, is positioning itself as a significant player in the long-haul market.
The A350 planes, with ranges of up to 15,000 kilometers (9,300 miles), will allow it to expand its network further.
Oil under $65 a boon for consumers, but a burden on producers
London, United Kingdom -- US President Donald Trump's tariffs, his call to "drill baby drill" and especially a decision by...The fall in oil prices has contributed to a global slowdown for inflation, while also boosting growth in countries reliant on importing crude, such as much of Europe.
Cheaper crude "increases the level of disposable income" consumers have to be spending on "discretionary items" such as leisure and tourism, experts say.
The five biggest-selling gaming consoles
From the first video game consoles of the 1970s to the Nintendo Switch 2 due out on Thursday, hundreds of...Japanese tech and entertainment giant Sony sparked a global frenzy with the release of PlayStation 2 in 2000.
The Nintendo Switch, released in 2017, had a tablet format allowing users to play on a large screen at home or on public transport, helping to turn it into a sensation.
Silicon Valley VCs navigate uncertain AI future
The generative AI frenzy unleashed by ChatGPT in 2022 has propelled a handful of venture-backed companies to eye-watering valuations.Leading the pack is OpenAI, which raised $40 billion in its latest funding round at a $300 billion valuation -- unprecedented largesse in Silicon Valley's history.
Other AI giants are following suit. Anthropic now commands a $61.5 billion valuation, while Elon Musk's xAI is reportedly in talks to raise $20 billion at a $120 billion price tag.
