Logistics: At the heart of economic activity
The global logistics market is expected to be around US$10 trillion in 2024, and is estimated to reach US$21.91 trillion...Technology Business Economy
China, Canada retaliate to Trump tariff war as markets fall
Washington, United States -- Mounting trade wars between the United States and its largest economic partners deepened Tuesday as huge...Business Economy
AI the new obsession for venture capital investing
Stung by the struggles of cryptocurrency and other faded Silicon Valley fads of recent years, venture capitalists have quickly doubled...While layoffs and budget tightening became routine at tech firms last year, startups in the AI sector raised nearly $50 billion from investor, according to market trackers
Scared off by the cost of entry, many venture capitalists have turned their attention to more narrowly focused AI startups that could shake up banking, healthcare and energy
Nissan plans self-driving taxi service in Japan
It has been testing self-driving mobility services since 2017.Nissan said it will begin trials of the commercial service in the upcoming financial year from April, using minivans in south of Tokyo
The company says it has been "testing business models for self-driving mobility services in Japan and abroad since 2017"
Bitcoin surpasses $57,000 as crypto rally remains strong
Dubai, UAE - The price of Bitcoin on Tuesday surged past $57,000, demonstrating the continued strength of the cryptocurrency market...The rise follows Bitcoin's climb above $54,000 on Monday, a milestone not reached since December 3, 2021
The cryptocurrency has been experiencing a bullish trend since January 11, when the US Securities and Exchange Commission approved spot Bitcoin ETFs
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...In the first month of 2024, Iranian steel mills produced a total of 2.6 million tons of steel.
The world's 71 steel-producing countries produced 148.1 million tons of steel in January 2024.
Chevron $53bn Hess deal in danger
Rivals' challenge to the control of a key oil asset can derail the acquisition.The issue concerns Hess's 30 percent stake in the Stabroek Block offshore Guyana, a mammoth oilfield that was a driver of the takeover.
Stabroek is operated by US giant ExxonMobil, which has a 45 percent stake. Chinese company Cnooc holds the remaining 25 percent of the project.
UAE announces US$2,722 penalty for late corporate tax registration
ABU DHABI, UAE – The Ministry of Finance on Tuesday announced the issuance of Cabinet Decision No. 10 of 2024...A penalty of US$2,722 (AED10,000) will be imposed on businesses that do not submit their Corporate Tax registration applications on time.
The penalty was implemented to prompt taxpayer compliance with laws through timely corporate tax registration.
WTO approves services trade rules, overcoming objections
The set of rules will streamline authorization requirements and ease procedural hurdles faced by businesses, according to a press release....Its integration into the WTO implies all 164 members have approved as per the body's rules which require full consensus.
Ministers' negotiations also focused on fisheries and agriculture, but progress could be made on a new global agreement on fisheries subsidies.
AI entity is Board Observer in IHC
IHC is a pioneer in leveraging AI for decision-making.Aiden Insight is a virtual entity endowed with sophisticated AI capabilities, and is set to revolutionise the way IHC handles the global investment landscape.
This initiative by IHC is powered by AI capabilities of G42 in collaboration with Microsoft, setting a new benchmark for artificial intelligence development.
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...The stowaway rodent was spotted enjoying the SriLankan Airlines Airbus A330 flight from the Pakistani city of Lahore on Thursday
An airline official said the plane has now resumed flights, but that the grounding had a knock-on effect on the entire schedule
Multiply Group acquires Backlite Media
The buyout is part of its plan to boost media business.The acquisition seamlessly complements the group’s existing portfolio, which includes Media 247 and Viola Communications
BackLite Media, a premier advertising company, has assets in landmark locations in the UAE with revenues of $63.17m in 2023
