AI chip giant Nvidia becomes world’s first $5 trillion company
New York, United States -- AI chip juggernaut Nvidia became the world's first $5 trillion company on Wednesday, as investors...Business
TotalEnergies approves restart of $20-bn Mozambique gas project
Paris, France -- France's TotalEnergies said Saturday the consortium it leads to build a $20-billion liquified natural gas project in...Business Geostrategy
Elon Musk buys $1 billion in Tesla shares, stock prices go up 6%
New York, United States - CEO Elon Musk bought about $1 billion worth of shares in Tesla, according to a...The purchase came the same month Tesla unveiled a proposed compensation package for Musk that could top $1 trillion if he delivers on his vision for stratospheric growth
Tesla chair and close Musk associate Robyn Denholm has made several business media appearances in recent days, defending the pay package
US says ‘framework’ deal with China on TikTok ownership
Donald Trump said -- without directly naming the social media giant -- that a deal was reached with a "certain...Trump added on his Truth Social network that he would speak to Chinese President Xi Jinping on Friday.
A federal law requiring TikTok's sale or ban on national security grounds was due to take effect the day before US President Donald Trump's inauguration on January 20.
Sharjah records 361 percent growth in capital investment in H1
Sharjah, UAE -- The Sharjah FDI Office (Invest in Sharjah) has announced an exceptional increase in foreign direct investment during...In this time period the emirate recorded 74 FDI projects, a 57 percent surge from the 47 projects in the same period last year.
February 2025 saw the highest volume of FDI activity in terms of both project count and capital investment.
Airbus, Leonardo and Thales reported moving towards European space firm
Rome, Italy -- European aerospace firms Airbus, Leonardo and Thales could seal an accord this year to set up a...The three firms want to set up a satellite production entity to rival Elon Musk's SpaceX and growing low-cost competition from China and other countries.
Roberto Cingolani, head of Italy's Leonardo aerospace and defense giant, said in June that an accord could be taken by July, but the deadlines have been pushed back.
Lab-grown diamonds robbing southern Africa of riches
Johannesburg, South Africa -- Botswana and southern African peers that built much of their prosperity on diamonds are scrambling for...Diamond-dependent Botswana is leading the way and launched a sovereign wealth fund this week to lay the "foundation for a more resilient and diversified future beyond diamonds".
It is exploring other avenues too, like boosting luxury wildlife tourism, launching into the medicinal cannabis market and exploiting its abundant sunshine for solar power.
Market value of camels at Crown Prince Festival reaches $66 million
Taif, Saudi Arabia -- The market value of the camels competing in the final rounds of the 2025 Crown Prince...The seventh edition of the festival, organized by Saudi Camel Sports, began on September 2 under the patronage of Prince Mohammed bin Salman bin Abdulaziz Al Saud.
The competition featured a total of 249 rounds, with prize money exceeding SAR50 million. The final four rounds, covering a distance of 24 kilometers, will be held on Friday.
Global oil supply hit record high in August: IEA
Paris, France -- Global oil supply hit a record high in August as OPEC+ and other countries ramped up production,...Eight key members of OPEC+ group, including Saudi Arabia and Russia, have been gradually increasing production since April after restricting output in recent years.
Non-OPEC+ nations have also been raising their output, with the IEA saying production from the United States, Brazil, Canada, Guyana and Argentina was "at or near all-time highs".
Robot dogs, flying cars: five takeaways from the Munich auto show
Companies including Germany's Holon and Estonia's Auve Tech displayed small self-driving buses, designed for routes where larger buses with drivers...Chinese brands showcased their efforts to create "flying cars", small electric aircraft powered by multiple rotors designed for short journeys.
Austrian Wolfgang Podleiszek is working on a funky two-wheeled electric car that steers like a segway and needs the driver to lean into corners.
Musk’s title of richest person challenged by Oracle’s Ellison
New York, United States - Billionaire Elon Musk is at risk of losing his title of world's wealthiest person to...Ellison, 81, amassed more than $100 billion in additional wealth Wednesday as Oracle shares skyrocketed after the nearly 50-year old company forecast massive revenue growth
That rise lifted Ellison's overall wealth to about $406 billion compared with Musk's roughly $440 billion, according to a Forbes real-time billionaire's index
Stock markets strike records despite geopolitical unrest
Gains for oil prices were relatively modest, while gas futures were unmoved after Israel's strikes Tuesday against Hamas in gas-rich...Wall Street had notched fresh highs Tuesday as markets digested weak US jobs data that added to expectations that the Fed will lower US interest rates at their next meeting.
Tokyo's stock market ended at an all-time high, as did Seoul where traders were hopeful the government will not implement plans to lower the capital gains tax threshold for stocks.
