G20 nations agree central bank independence ‘crucial’
The statement came after months of escalating attacks by US President Donald Trump on Federal Reserve boss Jerome Powell. The...
Geostrategy
Business
WhatsApp introduces first major advertising features
San Francisco, United States -- WhatsApp announced Monday it will introduce its boldest advertising features yet, marking a significant shift...
- The move is a sensitive one for WhatsApp, whose chief firmly denied a report in 2023 that said the Meta-owned app was exploring advertisements as it sought to boost revenue.
- Unlike Facebook, Instagram, and other social platforms, WhatsApp has maintained minimal advertising since Meta acquired it in 2014.
Business
Abu Dhabi state oil firm makes US$18.7 billion bid for Australia’s Santos
Sydney, Australia - Abu Dhabi's state-owned oil company is leading a takeover bid for Australian energy group Santos, valuing it...
- Santos's board said it plans to unanimously recommend the Abu Dhabi National Oil Company's offer to shareholders if it can agree on the takeover terms
- Adelaide-based Santos has energy operations in Australia, Papua New Guinea, East Timor and the United States, and is a major supplier of liquefied natural gas in Australia and Asia
Economy
Boeing lowers 2044 global air fleet outlook amid supply chain woes
New York, United States -- The global commercial aviation fleet will stand just under 50,000 planes in 2044, with most...
- The global commercial aviation fleet will stand just under 50,000 planes in 2044, with most built over the next 20 years, according to a Boeing forecast released Saturday.
- The global fleet will nearly double to 49,600, a bit below Boeing's prior annual outlook, the company said ahead of the giant Paris Air Show beginning Monday.
Business
Saudi EXIM Bank signs MoU with Credit Oman to boost bilateral exports
Copenhagen, Denmark -- The Saudi Export-Import Bank (Saudi EXIM) participated as a sponsor of the TXF Global 2025 conference held...
- Saudi EXIM participated as a sponsor of the TXF Global 2025 conference held in Copenhagen, Denmark, from June 10 to 12.
- Saudi EXIM Bank is a reliable partner in the global trade ecosystem, said CEO Eng. Saad bin Abdulaziz AlKhalb.
Business
OpenAI enlists iPhone designer to create ideal device for using AI
New York, United States -- ChatGPT-maker OpenAI has enlisted the legendary designer behind the iPhone to create an irresistible gadget...
- ChatGPT-maker OpenAI has enlisted the legendary designer behind the iPhone to create an irresistible gadget for using generative artificial intelligence (AI).
- Sharing no details, OpenAI chief executive Sam Altman said that a prototype Ive shared with him "is the coolest piece of technology that the world will have ever seen."
Business
Chip-maker Micron expands US investment to $200 bn backed by Trump
Washington, United States -- Chip giant Micron Technology on Thursday said it was expanding its domestic investment plan to $200...
- The investment plan comes as the United States pushes to reduce its reliance on foreign semiconductor production.
- Memory chips are critical components used in national defense systems, automobiles and national security applications.
Geostrategy
The most eye-catching products at Vivatech fair
For humans, spotting the difference between a Lacoste polo shirt and a fake sporting the brand's crocodile logo can be...
- olumn-shaped robots from Hong Kong firm Robocore can serve as mobile ad billboards -- but for now are mostly deployed for medical purposes in hospitals and retirement homes.
- French startup Aemotion's four-wheeled electric vehicle is designed to weave through traffic, saving commuters time spent in jams.
Business
Nvidia marks Paris tech fair with Europe AI push
Paris, France -- Drawing high-powered tech CEOs and a presidential visit, the Vivatech trade fair opened in Paris on Wednesday...
- Nvidia boss Jensen Huang also lso announced a multi-billion-dollar partnership with French AI champion Mistral AI.
- The US firm's tie-up with Mistral will see the companies build a cloud computing platform powered by 18,000 of Nvidia's "Blackwell" high-end chips worth billions.
Business
Trump touts ‘done’ deal with Beijing on rare earths, Chinese students
Trump said on his Truth Social platform that China would supply rare earth minerals and magnets -- vital elements for...
- Washington was concerned at slower supplies of rare earths after Beijing began requiring domestic exporters to apply for a license -- seen as a response to US tariffs.
- Rare earths are used in everything from electric vehicles to hard drives, wind turbines and missiles.
Business
Sharjah’s real estate sector records $1.49bn in transactions during May
Sharjah, UAE -- Sharjah's real-estate market during May 2025 recorded a total of 8,415 transactions worth AED 5.5 billion. Of...
- Of these, 1,574 were sales transactions, accounting for 18.7% of the total, a clear indicator of increasing demand for real estate.
- Mortgage activity remained strong, with 381 mortgage transactions, representing 4.5% of all transactions and totaling more than AED1.1 billion in value.
Company News
TSMC’s H1 revenue up 40 percent
Business
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Demand for crude will continue to expand through 2050, says OPEC
In its latest annual report on the outlook for oil demand, OPEC sees global oil demand rising by 18.6 percent...
Economy
Cricket’s Indian Premier League value surges to $18.5 bn: report
New Delhi, India -- The Indian Premier League's business value has been estimated at $18.5 billion with reigning champions Royal...
Business
Investments rise in data, AI, outpacing physical assets: UN
Geneva, Switzerland - The purchase of physical assets was eclipsed last year by a surge in investment in intangible items...
Geostrategy
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Geostrategy
Trump says ‘no extensions’ to Aug 1 tariff deadline
While Trump imposed a sweeping 10 percent tariff on goods from almost all trading partners in April, higher rates customized...
- On Monday night, Trump had told reporters at a dinner that the August 1 deadline was "firm, but not 100 percent firm."
- Pressed on whether the letters were his final offer, Trump replied: "I would say final -- but if they call with a different offer, and I like it, then we'll do it."
Geostrategy
Dubai Islamic Bank completes $1bn sovereign financing Pakistan
Dubai, UAE -- Dubai Islamic Bank (DIB) has announced the successful completion of a landmark US$1 billion syndicated term-finance facility...
- The five-year facility is an innovative transaction, partially guaranteed by a Policy-Based Guarantee (PBG) from the Asian Development Bank (ADB).
- DIB acted as the Sole Islamic Global Coordinator and alongside Standard Chartered also served as the Joint Mandated Lead Arranger and Bookrunner.
Business
Algeria’s Sonatrach and Italy’s ENI sign $1.35 billion deal
Algiers, Algeria - Algeria's state-run hydrocarbon company Sonatrach and the Italian energy company Eni on Monday signed a production sharing...
- The 30-year contract covers the exploration and exploitation of hydrocarbons in the Zemoul El Kbar contract area, in the Berkine Basin, 300 km east of Hassi Messaoud
- The total investments planned for exploration and exploitation in this area are approximately $1.35 billion, including $110 million allocated to research and exploration