Iran becomes world’s ninth biggest steel producer, says WSA
TEHRAN, IRAN – The Middle Eastern country has improved its global standing in steel production, becoming the ninth largest producer...Business Economy
Rat on a plane sparks worries for Sri Lanka’s airline
Colombo, Sri Lanka - Sri Lanka's national airline on Tuesday blamed a rat for grounding a plane for three days, sparking...Business
Overuse of technology may lead to polarization: Expert
Technology, however, can be a powerful tool to deal with global challenges such as climate change, poverty, and inequality, says...Technology, however, can be a powerful tool to deal with global challenges such as climate change, poverty, and inequality, says MIT's Senseable City Lab director Carlo Ratti.
It's up to us to ensure that we use technology in a responsible and ethical way to create a better future for all, adds Ratti, the founder of CRA-Carlo Ratti Association
Grain deal talks ongoing after Russian proposal, says UN
Consultations to prolong Ukrainian grain exports deal are continuing, the UN said, after a Russian proposal for just a 60-day...Russia had agreed to extend the deal which is due to expire on Saturday, for 60 days.
Ukraine said that "contradicts" the original agreement but did not reject the proposal.
UAE issues license for electric vertical takeoff and landing aircraft
DUBAI, UAE - The UAE Regulations Lab has issued a license for an electric cargo aircraft to promote eco-friendly transportation...The license aims at reducing carbon emissions by encouraging the adoption of clean energy and leveraging technology.
It also aims at using innovation to redefine the logistics sector's future and its impact on the environment and climate.
‘Morocco economy robust, 80% of exports manufactured products’
The country managed to restrict inflation to 6 percent and sustain jobs despite challenges, the North African nation's Industry and...The country managed to restrict inflation to 6 percent and sustain jobs despite challenges, the North African nation's Industry and Trade Minister Ryad Mezzour tells TRENDS.
Moroccan automotive industry produced 700,00 cars in 2022 and we expect the production to hit 1 million in the next three years, adds Mezzour during the interview
British crypto lender suffers $200 million hack
Crypto companies were taking out TV adverts, sponsoring sports teams and touting their technology as world-changing as they sought new...PeckShield pointed out the hack to British lender Euler on Twitter, posting details of transactions it said showed losses of $197 million
The hack on Euler is the most substantial this year, according to crypto critic Molly White, who chronicles hacks on her blog Web3 is Going Just Great
Volkswagen to build new battery plant in Canada
Volkswagen is also setting up a series of battery plants in Europe - one will open in 2023 in Sweden,...The group's first North American battery factory will be located in St. Thomas, Ontario where production will start in 2027
Under its different brands, Volkswagen plans to introduce more than 25 different new electric models by 2030 in US
Saudi Arabia and South Korea sign several MoUs to deepen ties
Riyadh, Saudi Arabia--Saudi Arabia and South Korea have signed multiple memorandum of understandings aimed at supporting SMEs, along with enabling...The two minister discussed ways to attract South Korean SMEs to the kingdom as they examined potential investment cooperation opportunities
The Korean minister said improved ties with Saudi Arabia would encourage businesses in South Korea to tap into the global market
GCC insurance sector growth may slow down this year
The expansion of infrastructure investment and medical insurance coverage will continue to drive premiums in 2023, albeit at a slower...The expansion of infrastructure investment and medical insurance coverage will continue to drive premiums in 2023, albeit at a slower pace than in 2022, reports suggest
Strong premium growth, relatively modest earnings, and high costs to meet new accounting standards and other regulatory demands will erode capital and solvency buffers
Credit Suisse shares down
The bank has lost 81% of its value since Greensill bankruptcy.Shares in Switzerland's second largest bank plunged quickly by 14.3 percent to reach 2.139 Swiss francs.
Despite a huge restructuring effort, the value of Credit Suisse has dropped repeatedly on the stock market.
Europe warned industry will flee unless energy prices lowered
Brussels, Belgium - The European Union must urgently lower energy prices and ease regulations to stop industry fleeing the continent, European...The EU is racing to make Europe more attractive for the companies that could be tempted by massive US and Chinese subsidies and lower energy costs.
German chemical giant BASF said in February it would close several units in Germany because of high energy prices affecting competitivity in Europe.
