European Union slaps $1.9bn fine on Apple over violation of rules
Brussels, Belgium - The EU on Monday hit Apple with a more than 1.8-billion-euro fine ($1.9 billion) for violating the bloc's...Business Geostrategy Global
Middle East emerges as a major player in global CEO appointments: report
Dubai, UAE - The Middle East has emerged as a prominent player in global CEO appointments, securing 68 out of a...Business
Collective action required for food security, says FAO
MIYAZAKI, JAPAN - With hunger levels rising and food prices soaring in most of the world, collective actions are necessary...Trade continues to be key for global food security and all nations must commit to well-functioning markets and transparency, FAO said.
"We need to work together in an efficient, effective and coherent manner to identify the solutions," FAO added.
Up to $1.7 trillion investment needed for green aviation goals
To meet the estimated energy demand from hydrogen and electric aircraft in 2050 would require the amount of energy produced...Carbon-free propulsion options, such as battery and hydrogen-powered aircraft, are some of the options the aviation industry is pursuing.
Airports, airlines and others will need to make heavy infrastructure investment to deliver the green hydrogen and electricity the aircraft will need.
AI may help in machinery repair, labor crisis
The launch chatbot ChatGPT by the US firm OpenAI last year has resulted in an explosion of interest in uses...The potential for artificial intelligence in the manufacturing sector was in focus at Hanover Fair on industrial technology in Germany last week.
In Europe's biggest economy, almost 58 percent of manufacturers complain of workforce shortages, according to a study.
German public sector workers clinch 5.5 percent pay rise
The deal comes after several weeks of stalemate and repeated strikes among postal, transport and health workers demanding more money...From June 2023, a tax-free inflation compensation payment of 3,000 euros is to be paid in several instalments.
Inflation in Germany stood at 7.4 percent in March, remaining high despite having fallen from a peak of 8.8 percent in October.
Twitter restores blue ticks for some media, celebrities
Many who unwillingly gained blue ticks made it clear that they had not subscribed, as the badge became a symbol...Non-paying accounts that had a blue tick lost it on Thursday, as owner Elon Musk implemented a strategy, dubbed Twitter Blue, to generate new revenue, announced last year
On Friday and Saturday, a number of celebrities regained their blue ticks, seemingly without action on their part, including author Stephen King, Donald Trump
Investors hope for answers in UBS, Credit Suisse quarterly results
Credit Suisse pushed forward its result release to come out the day before those of UBS, as Switzerland's largest bank...According to data compiled by US financial services firm Morningstar, Credit Suisse saw around $5.1 billion withdrawn from funds during the month of March
Analyst expected UBS on Tuesday to post a first quarter profit of nearly $1.7 billion, below the $2.1 billion it made during the same quarter a year ago
China leads in transition from petrol to EVs
According to the China Association of Automobile Manufacturers, electric vehicles made up 25 percent of car sales in the country...Government support for EVs and growing interest from a vast consumer base has assured Chinese companies' dominance.
Despite a downturn across the global auto sector, an official said EVs' market share in China could increase to over 40 percent in 2023.
UAE energy ministry awards DEWA for research, innovation
DUBAI, UAE - Dubai Electricity and Water Authority (DEWA) has been awarded first place in UAE Ministry of Energy and...DEWA was honored for its innovative grid-integrated system which regulates photovoltaic inverters for autonomous voltage.
The approach to innovation, research and development in renewable and clean energy is in line with government strategies, DEWA CEO said.
DFM, ADX account for 20% of Arab exchanges’ liquidity last week
Abu Dhabi, UAE--The Abu Dhabi Securities Exchange (ADX) and the Dubai Financial Market (DFM) accounted for nearly 20 percent of...Arab stock exchanges, according to the Arab Monetary Fund, raked in liquidity to the tune of $10.28 billion last week
ADX’s liquidity shot up by 2.22 percent last week from US$1.489bn to $1.522bn, while DFM’s liquidity surged by 41.4 percent from US$344.4mn to US$486.06mn
Canada to allot US$9.8bn in subsidies for Volkswagen battery plant
Ottawa, Canada--Canadian Prime Minister Justin Trudeau announced Friday up to 13.2 billion Canadian dollars ($9.8 billion) in subsidies over 10 years...Terming the funding a "generational investment", Trudeau said that the new plant is expected to generate about Can$200 billion in value
In order to attract auto makers, Canada has made a big push into batteries for electric vehicles, touting tax incentives and clean energy
