General Gulf inflation rate logs 1.7% by end of Dec 2024
Muscat, Oman -- The general inflation rate in the GCC countries rose by 1.7 percent at the end of December...Business Economy
Chinese EV company Xpeng shares up 6% post mass-market car launch
Xpeng shares rose after the Chinese electric car company launched its new mass-market Mona brand on Tuesday with prices starting...Orders for the Mona M03 electric coupe exceeded 10,000 just 52 minutes after formal launch
Chinese automaker BYD and U.S. giant Tesla cemented their dominance in H1 2024.
Qatar strikes new 15-year 3 mtpa LNG supply deal with Kuwait
Qatar agreed on Monday to supply Kuwait with 3 million tons per annum (mtpa) of liquefied natural gas (LNG) for...Kuwait has been boosting its reliance on imported gas to meet power demand
Qatar this year announced a further expansion of its North Field project
ExxonMobil expects global oil demand near current levels in 2050
New York, United States - Global oil demand is unlikely to fall by 2050 despite progress on renewable energy, the US...In a new report, ExxonMobil said it "sees a plateau in oil demand beyond 2030, remaining above 100 million barrels per day through 2050."
This would be roughly in line with oil demand last year of 102.2 million barrels per day, according to the International Energy Agency
Asia shares edge up and dollar down; oil gains
Asian shares crept cautiously higher on Monday, while the dollar and bond yields were on the wane ahead of inflation...Oil prices climbed 0.8% after Israel and Hezabollah traded rocket salvos
The dollar slipped a further 0.5% to 143.64 yen, having fallen 1.3% on Friday
Telegram chief Pavel Durov arrested at French airport: officials
Paris, France - French police arrested Telegram chief executive Pavel Durov on Saturday at an airport near Paris for alleged offences...The Franco-Russian billionaire, 39, was detained at Le Bourget airport north of the French capital on Saturday evening, one of the officials told AFP
"Enough of Telegram's impunity," said one of the investigators, adding they were surprised Durov came to Paris knowing he was a wanted man
China’s robot makers chase Tesla to deliver humanoid workers
Beijing, China - China dominates the market for electric vehicles. Now it's chasing in the race to build battery-powered humanoids...Annual global market for humanoid robots could reach $38 billion by 2035
Tesla, reiterated it expected to move beyond prototypes to start producing Optimus in small volumes next year
Anthropic hit with class-action lawsuit over copyright infringement
Anthropic, the Amazon-backed artificial intelligence startup, on Monday, was hit with a class-action lawsuit in California federal court over alleged..."An essential component of Anthropic’s business model is the larges scale theft of copyrighted works"
This case follows another lawsuit brought against Anthropic last October by Universal Music
Boeing suspends 777X flight tests after part failure, its latest quality control issue
New York, United States - Boeing has suspended flight testing of its new 777X wide-body jet after identifying the failure of...Boeing has been beset in recent years with concerns about safety and quality control, with a near-catastrophic incident on an Alaska Airlines Boeing 737 MAX in January
Boeing's new chief executive Kelly Ortberg, 64, took over earlier this month on a pledge to restore trust in the embattled manufacturer
Social media platform X to shutter local operations in Brazil
Social media platform X, formerly Twitter, will shutter its local operations in Brazil following a bitter legal tussle over the...A post Saturday from X's Global Government Affairs department said Moraes had "threatened our legal representative in Brazil with arrest if we do not comply with his orders."
It said the office closure was necessary "to protect the safety of our staff," adding, "the responsibility lies solely with Alexandre de Moraes."
Crypto crime drops 19.6% as digital ecosystem matures
Advanced blockchain analysis tools, such as those provided by Chainalysis, are empowering law enforcement agencies and enterprises to counter the...Research by Chainalysis found that flow of crypto funds to legitimate services has reached their highest levels since 2021
Aggregate illicit activity over the same period fell by an impressive 19.6 percent
