Israel arms exports to UAE, Bahrain, Morocco rise sharply after 2023
Sales to countries considered part of the Abraham Accords -- the United Arab Emirates, Bahrain and Morocco who signed groundbreaking...
Business
Indian airline IndiGo orders 30 Airbus A350 widebody planes
New Delhi, India -- Indian airline IndiGo said on Sunday it had signed an order for 30 more Airbus A350-900s,...
Business
Business
Countries where the X social network is banned and why
Paris, France - With its ban of X, which went into effect on Saturday, Brazil joins a small club of countries...
- Beyond permanent bans, some nations have temporarily restricted access to X, formerly Twitter, which has often been used by political dissidents to communicate
- These have included Egypt in 2011 during the Arab Spring uprisings, Turkey in 2014 and 2023, and Uzbekistan around that country's 2021 presidential election
Business
Apple in talks to invest in OpenAI, creator of ChatGPT: report
Washington, United States - iPhone juggernaut Apple is in talks to invest in OpenAI, the creator of ChatGPT and the biggest...
- The company founded by Steve Jobs is at the funding table as OpenAI raises more money to help meet the heavy costs of building new technology
- Reports said that OpenAI is in talks to reach a valuation of $100 billion in the funding round led by venture capital firm Thrive Capital, which will pump in one billion dollars
2024 Crypto Crime Update Part 2: China-based cybercrime networks on the rise
In part 1 of our mid-year crime update, we discussed trends related to ransomware and stolen funds. While aggregate illicit...
- 43% of YTD scam inflows have gone to wallets that became active this year
- Huione Guarantee, appears heavily used for illicit crypto-based activities, including pig butchering, investment fraud, and money laundering
Nvidia’s forecast dampens AI enthusiasm in other tech stocks
Shares of Nvidia and other technology heavyweights fell late on Wednesday, a discouraging sign for investors betting that a strong...
- Nvidia loses $200 billion in market value
- Investors' high expectations led to disappointment despite Nvidia's strong earnings
Business
Durov: Father of 100 children is a mysterious and controversial Telegram founder
Paris, France - Russian-born tech entrepreneur Pavel Durov has founded wildly popular social networks, cryptocurrencies, amassed a multi-billion-dollar fortune and locked...
- Durov, 39, who preaches the virtues of ice baths for health and has fathered 100 children through sperm donations, is a controversial as well as enigmatic figure
- A self-avowed libertarian, Durov has championed confidentiality on the internet and freedom of speech, defiantly refusing to allow the moderation of messages on Telegram
Chinese EV company Xpeng shares up 6% post mass-market car launch
Xpeng shares rose after the Chinese electric car company launched its new mass-market Mona brand on Tuesday with prices starting...
- Orders for the Mona M03 electric coupe exceeded 10,000 just 52 minutes after formal launch
- Chinese automaker BYD and U.S. giant Tesla cemented their dominance in H1 2024.
Qatar strikes new 15-year 3 mtpa LNG supply deal with Kuwait
Qatar agreed on Monday to supply Kuwait with 3 million tons per annum (mtpa) of liquefied natural gas (LNG) for...
- Kuwait has been boosting its reliance on imported gas to meet power demand
- Qatar this year announced a further expansion of its North Field project
Business
ExxonMobil expects global oil demand near current levels in 2050
New York, United States - Global oil demand is unlikely to fall by 2050 despite progress on renewable energy, the US...
- In a new report, ExxonMobil said it "sees a plateau in oil demand beyond 2030, remaining above 100 million barrels per day through 2050."
- This would be roughly in line with oil demand last year of 102.2 million barrels per day, according to the International Energy Agency
Asia shares edge up and dollar down; oil gains
Asian shares crept cautiously higher on Monday, while the dollar and bond yields were on the wane ahead of inflation...
- Oil prices climbed 0.8% after Israel and Hezabollah traded rocket salvos
- The dollar slipped a further 0.5% to 143.64 yen, having fallen 1.3% on Friday
Business
Telegram chief Pavel Durov arrested at French airport: officials
Paris, France - French police arrested Telegram chief executive Pavel Durov on Saturday at an airport near Paris for alleged offences...
- The Franco-Russian billionaire, 39, was detained at Le Bourget airport north of the French capital on Saturday evening, one of the officials told AFP
- "Enough of Telegram's impunity," said one of the investigators, adding they were surprised Durov came to Paris knowing he was a wanted man
Israel arms exports to UAE, Bahrain, Morocco rise sharply after 2023
Sales to countries considered part of the Abraham Accords -- the United Arab Emirates, Bahrain and Morocco who signed groundbreaking...
Business
Company News
Latest News
IMF cuts global growth outlook on impact of Trump tariffs
Washington, United States -- The International Monetary Fund on Tuesday slashed its forecast for global growth this year, citing the...
Economy
Boeing to sell some assets to Thoma Bravo
The $10.55 bn sale includes portions of digital aviation solutions business.
Business
Most Read
Business
DHL to stop global shipments worth over $800 to US consumers
Washington, United States -- Global shipping giant DHL will "temporarily" suspend the shipping of parcels worth more than $800 from...
- President Trump has launched a wide-ranging trade war, threatening friend and foe alike with steep tariffs to address US trade deficits with individual countries.
- As part of those changes, the government has also lowered the threshold at which parcels to individuals require formal entry processing by US Customs -- down to $800 from $2,500.
Business
Gold hits record, dollar drops as tariff fears dampen sentiment
With several markets still closed for the Easter holiday, business was limited ahead of a week that will see the...
- The precious metal was also helped by a weaker dollar, which has also been hit by worries about Trump's standoff with Fed boss Jerome Powell.
- Stocks had a mixed start to the week, with Tokyo weighed by the stronger yen while Taipei, Jakarta and Bangkok were also in negative territory.
Economy
UAE foreign trade increases by 49% to reach $1.42 trillion in 2024
The UAE climbed from 17th to 11th globally in merchandise exports and from 18th to 14th in imports between 2021...
- The UAE accounted for 41.4 percent of the Middle East’s $1.5 trillion merchandise exports, with regional exports growing by 3.7 percent and services by 4.1 percent in 2024.
- Globally, the UAE contributed 2 percent to services exports and 1.3 percent to imports, with service exports of $176 billion and imports of $106 billion.