Nobel economist warns of AI dangers amid “amazing possibilities”
Washington, United States - A winner of this year’s Nobel prize in economics warned Monday that artificial intelligence offers "amazing...
Economy
Silver price hits decades high as gold rush eases
Stock markets, meanwhile, were mixed as traders weighed a slew of issues: massive AI investments, corporate results, US interest rates,...
Business
Geostrategy
Urgent need for ‘global approach’ on AI regulation: UN tech chief
Geneva, Switzerland -- The world urgently needs to find a global approach on regulating artificial intelligence, the United Nations' top...
- Doreen Bogdan-Martin, head of the UN's International Telecommunications Union (ITU), said regulation was key as concerns rise over fast-moving technology.
- Bogdan-Martin, the first woman to serve as ITU secretary-general in the organization's nearly 160-year history, also stressed the need to get more women into the digital space.
Economy
China says balance between AI development, security ‘urgently requires consensus’
China's Premier Li Qiang warned Saturday that artificial intelligence development must be weighed against the security risks, saying global consensus...
- This week US President Donald Trump unveiled an aggressive low-regulation strategy aimed at cementing US dominance in the AI field
- Opening the World AI Conference (WAIC) in Shanghai on Saturday, Li emphasised the need for governance and open-source development
Economy
Why every company now needs a Chief Geopolitical Officer
When both governments and international institutions are explicitly warning businesses about geopolitical risks, traditional corporate approaches to navigating international relations...
- With rising geopolitical tensions, trade wars, and regulatory divergence, businesses must anticipate and respond to risks that can disrupt operations, and supply chains
- From sanctions and cyberattacks to forced market exits, geopolitical events are now causing multi-billion-dollar losses and lasting brand damage — risks too big to ignore
Geostrategy
UK starts online checks to stop children accessing harmful content
London, United Kingdom -- New UK age verification measures to prevent children accessing harmful online content came into force on...
- Around 6,000 pornography sites have agreed to implement the curbs, according to Melanie Dawes, chief executive of British regulator Ofcom.
- Around 500,000 youngsters aged eight to 14 encountered pornography online last month, according to Ofcom.
Economy
China’s premier tells EU leaders ‘we can’t afford’ massive industrial subsidies
Chinese Premier Li Qiang dismissed EU fears over Beijing's allegedly excessive subsidies to its industry, telling the bloc's leaders "we...
- Speaking during a roundtable with EU chief Ursula von der Leyen on Thursday, Li insisted that "China is by no means doing what some call a subsidies policy or fiscal subsidies."
- "We would not be stupid enough to use the fiscal funds accumulated through the government and the hard work of our people to sell our products to foreign consumers," Li added
Geostrategy
Trump admin unveils AI strategy to maintain US dominance
The 25-page "America's AI Action Plan" outlines three aims: accelerating innovation, building infrastructure, and leading internationally on AI. Overall, the...
- According to US media reports, Trump was also to announce a series of executive orders to give key components of the plan additional legal weight.
- AI "challenges America to build vastly greater energy generation than we have today," the plan said.
Economy
Trump announces ‘massive’ Japan trade deal including 15% tariff
US President Donald Trump announced Tuesday a "massive" trade deal with Japan, cutting a threatened 25-percent tariff to 15 percent...
- Trump has vowed to hit dozens of countries with punitive tariffs if they don't strike a deal with the United States by next month
- So far, Trump has only announced pacts with Japan, Britain, Vietnam, the Philippines and Indonesia, while talks continue with other trade partners
Geostrategy
91% of new renewable projects now cheaper than fossil fuels alternatives
Abu Dhabi, UAE -- Renewables maintain their cost leadership in global power markets, IRENA’s new report on Renewable Power Generation...
- IRENA’s new report confirms renewables maintained their price advantage over fossil fuels, with cost declines driven by technological innovation.
- In 2024, solar photovoltaics (PV) were, on average, 41 percent cheaper than the lowest-cost fossil fuel alternatives, while onshore wind projects were 53 percent cheaper.
Geostrategy
Global gas flaring surges again, costs $63bn in lost energy: WB
Washington, UAE -- Global gas flaring surged for a second year in a row, wasting about $63 billion in lost...
- Flaring, the practice of burning natural gas during oil extraction, reached 151 billion cubic meters (bcm) in 2024, up 3 bcm from the previous year.
- While some countries have reduced flaring, the top nine largest-flaring countries continue to account for three-quarters of all flaring.
Economy
Turkey parliament passes contentious mining legislation
Turkey's parliament on Saturday passed a controversial bill that opens certain agricultural lands including olive groves to mining activities, local...
- The bill, part of a broader package proposed by President Recep Tayyip Erdogan's ruling AKP party, sparked protests from opposition parties and environmental groups
- Farmers from across Turkey have gathered outside parliament over the past two weeks, urging the government to withdraw the draft, with some starting a hunger strike this week
Nobel economist warns of AI dangers amid “amazing possibilities”
Washington, United States - A winner of this year’s Nobel prize in economics warned Monday that artificial intelligence offers "amazing...
Economy
Company News
Latest News
US Fed poised for first rate cut of 2025 as political tension mounts
The Fed's likely move would follow a monthslong push from President Donald Trump to slash rates, and comes amid growing...
Economy
Turkey cuts interest rate again as inflation eases
Turkey's central bank on Thursday cut its policy interest rate for a second meeting in a row as the country's...
Economy
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,...
Economy
Most Read
Geostrategy
Europe hyperloop test hits new speed record in Dutch trial
The Hague, Netherlands -- A Dutch tech startup said Wednesday it had set a European speed record for its futuristic...
- Hardt Hyperloop said its vehicle had reached 85 kph at the 420 meter European Hyperloop Center test track in the Netherlands and had carried out a complex lane switching test.
- It said the lane switching maneuver -- essential for networked routes -- showed there were no technical barriers to operating at aircraft-like speeds.
Science
MBZUAI, G42 launch K2 Think: Leading open-source system for advanced AI reasoning
Abu Dhabi, UAE -- The Institute of Foundation Models at Mohamed bin Zayed University of Artificial Intelligence (MBZUAI) and G42...
- K2 Think embodies a new approach to building smarter, more efficient AI, as with just 32 billion parameters, it outperforms flagship reasoning models that are 20X larger.
- This breakthrough in parameter efficiency makes K2 Think a powerful alternative for advanced reasoning, redefining what is possible with compact architectures
Business
Stocks climb eyeing US rate cut, political turbulence
A steep downward revision to US job creation cemented expectations that the Federal Reserve would begin lowering its benchmark rate...
- US employment growth is likely to be revised down by 911,000 for the 12 months ending in March, official data showed.
- Investors are now looking to consumer inflation data coming Thursday, since a hot reading could keep the Fed from cutting further as it looks to curb price increases.