Microsoft valuation surges above $4 trillion as AI lifts stocks
Shares of Microsoft vaulted 5.3 percent after it reported $27.2 billion in quarterly profits as it touted massive investments in...Business Economy
Palantir, the AI giant that preaches US dominance
Palo Alto, United States - Palantir, an American data analysis and artificial intelligence company, has emerged as Silicon Valley's latest...Business
Renault Scenic model wins Car of the Year at Geneva auto show
Renault unveiled a new electric vehicle and its Scenic model won the Car of the Year award at the first...Renault is the only European automaker with a presence at this year's industry gala.
Volkswagen and Stellantis, whose brands include Peugeot and Fiat, decided to skip the event.
Japan’s Moon craft SLIM revives after lunar night
TOKYO, JAPAN – Japan's Moon lander has produced another surprise by waking up after the two-week lunar night, the country's space...The unmanned Smart Lander for Investigating Moon (SLIM) touched down last month at a wonky angle that left its solar panels facing the wrong way.
As the sun's angle shifted, it came back to life for two days and carried out scientific observations, Japan Aerospace Exploration Agency (JAXA) said.
EDB’s contribution to UAE’s industrial GDP in 2023 rises to US$1.1bn
ABU DHABI, UAE – Emirates Development Bank (EDB) has unveiled its 2023 results, showcasing an extraordinary year of achievements and...EDB’s flexible financing solutions and patient debt approach have significantly bolstered industrial growth.
EDB has approved $353 million in financing under the Credit Guarantee Scheme with partner banks in UAE.
Manufacturers pack smartphones with AI tools to boost sales
Barcelona, Spain - Smartphone makers are packing their latest devices with flashy new artificial intelligence tools such as real-time voice translation...The focus on AI comes amid sluggish smartphones sales as consumers are taking longer to upgrade their devices due to a lack of significant innovations.
Global smartphone shipments declined 3.2 percent to 1.17 billion units in 2023, its second consecutive yearly decline.
WTO pushes for reform, warns multilateralism ‘under attack’
Speaking on the first day of MC13, WTO Director-General Ngozi Okonjo-Iweala highlighted a need to "reform the multilateral trading system"...The WTO is hoping for progress, particularly on fishing, agriculture and electronic commerce during the meeting scheduled to run until Thursday in Abu Dhabi.
But big deals are unlikely as the body's rules require full consensus among all 164 member states -- a tall order in the current climate.
China discovers world’s largest metamorphic rock oilfield in Bohai Sea
BEIJING, CHINA – The China National Offshore Oil Corporation (CNOOC) has announced the recent discovery of the largest metamorphic rock...The Bohai 26-6 oilfield is situated approximately 170 kilometers from Tianjin Municipality.
It has been anticipated that the average daily oil production will surpass 390 cubic meters.
Goldman Sachs, Mubadala ink pact
The two firms have signed a $1 billion private credit deal.The partnership will be managed by Private Credit at Goldman Sachs Alternatives, with a dedicated team across multiple Asia Pacific markets.
This mandate will enable both firms to continue scaling their investment activity in the large and growing Asia Pacific credit market.
Disney and India’s Reliance to merge
The merger will create a powerful entertainment giant.The report of the deal comes as billionaire tycoon Mukesh Ambani readies to host Disney chief Robert Iger on March 1 for his son's wedding
The deal is expected to see the media unit of Reliance and its affiliates hold at least a 61% stake in the merged entity, with Disney holding the rest
Alcoa to buy Alumina in all-stock deal
The US aluminum producer will buy Alumina for US$2.2bn.Alcoa will offer 0.02854 of its own stock for each Alumina share, a 13 percent premium to the Australian group's Friday closing price
Alumina shareholders would own 31.25 percent and Alcoa shareholders would own 68.75 percent of the combined company
Commercial vehicle sales in China soar 79.6% in January
Beijing, China--China's commercial vehicle sales soared 79.6 percent year on year to 324,000 units in January, according to industry data.Specifically,...According to the China Association of Automobile Manufacturers, some 289,000 trucks were sold during this period, a rise of 81.8 percent
Xinhua News Agency said nearly 35,000 coaches were sold last month, an increase of 63.4 percent compared with the same period of 2023
