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...
Economy
Global markets rise as Trump weighs future of Fed boss
US indices were near record highs two hours into the Wall Street session with all eyes on an incoming earnings...
Business
ADNOC expands its STEM Education Programme to empower UAE students in AI
Abu Dhabi, UAE – ADNOC has expanded its Science, Technology, Engineering and Mathematics (STEM) education programme to empower UAE students...
- Launched in January 2025, the Future of AI Schools Challenge received 14,500 applicants from 351 schools across the country
- During the final, ADNOC and AIQ showcased how ENERGYai, the world’s first agentic AI solution for the energy industry
Business
Google makes case for keeping Chrome browser in US court
Washington, United States - Google on Friday urged a US judge to reject the notion of making it spin off...
- US government attorneys have called for divesting Google of Chrome browser, contending that AI is poised to ramp up it's dominance
- They also want Google barred from agreements with partners such as Apple and Samsung to distribute its search tools
Interview
Generative AI’s most prominent skeptic doubles down
Vancouver, Canada -- Two and a half years since ChatGPT rocked the world, scientist and writer Gary Marcus still remains...
- Marcus's criticism centers on a fundamental belief: generative AI, the predictive technology that churns out seemingly human-level content, is too flawed to be transformative.
- The large language models (LLMs) that power these capabilities are inherently broken, he argues, and will never deliver on Silicon Valley's grand promises.
Economy
Chief Economists warn global growth under strain from trade policy shocks and AI disruption
The global economic outlook has worsened since the start of the year, as rising economic nationalism and tariff volatility fuel...
- The report reveals that 79% of surveyed economists view the current geoeconomic developments as signs of a significant structural shift for economy than a temporary disruption
- Nearly all the chief economists (97%) place trade policy among the areas of highest uncertainty, followed by monetary policy (49%) and fiscal policy (35%)
Economy
OPEC+ ministers, led by Saudi Arabia and Russia, meet as oil output hike looms despite falling prices
The 22-nation group began a series of cuts in 2022 to prop up crude prices, but Saudi Arabia, Russia and...
- The 22-nation group began a series of cuts in 2022 to prop up crude prices, but Saudi Arabia, Russia and six other members surprised markets recently by sharply raising output
- The move has put pressure on prices, which have also fallen as investors worry that US President Donald Trump's tariff onslaught will cause an economic slump and weigh on demand
Economy
OPEC+ expected to open taps more despite price slump
The Organization of the Petroleum Exporting Countries and their allies - collectively known as OPEC+ - have justified their change...
- This follows pressure from US President Donald Trump and group leader Saudi Arabia's quest to penalise allies that breach the cartel's quotas
- In past months, Saudi Arabia, Russia and six other OPEC+ members have surprised markets by announcing a sharp increase in oil production
Economy
United Kingdom renationalizes first train operator under Labor reforms
London, United Kingdom -- Britain's South Western Railways on Sunday becomes the first private train operator to be returned to...
- Renationalizing all of the UK's rail operators is among the key policies launched by Prime Minister Keir Starmer since his party's return to government last July.
- Train passengers in Britain suffer from frequent cancellations, in addition to high ticket prices and regular confusion over which services they can be used on.
Economy
Trump fires new 50% tariff threat at EU, drawing stiff response
Washington, United States - President Donald Trump rekindled the US trade war on Friday, threatening to impose a 50 percent...
- If they come into effect, the new duties on Brussels would dramatically raise Washington's current baseline levy of 10 percent
- The US president has also introduced sector-specific measures on automobiles, steel and aluminum not produced in the United States
Business
Trump threatens Apple with a 25% tariff if iPhones aren’t made in US
Washington, United States -- US President Donald Trump on Friday threatened Apple with a 25 percent tariff if the iPhones...
- Trump's sweeping tariffs on major US trading partners have roiled global markets and upended international commerce.
- Trump's comments Friday echo statements he made last week while on a trip to Qatar, urging Apple to bring iPhone production to US shores.
Economy
UAE-Morocco consortium sign $14 billion worth of energy, water infrastructure projects
Morocco on Monday signed deals with an Emirati-Moroccan consortium for energy and water infrastructure projects, which according to one of...
- The projects aim to "strengthen both water security and energy independence" in Morocco, the signatories said in a joint statement
- The total investment amounts to nearly 130 billion dirhams by 2030, Taqa Morocco said in a separate statement
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...
Economy
Company News
Latest News
G7 to exempt US multinationals from global minimum tax
The deal will see US companies benefit from a "side-by-side" solution under which they will only be taxed at home,...
Economy
World Bank announces Lebanon, Syria reconstruction projects
Beirut, Lebanon -- The World Bank announced on Wednesday it had approved $250 million to support Lebanon's post-war reconstruction and...
Economy
US Fed chair signals no rush for rate cuts despite Trump pressure
The Fed has a duty to prevent a one-time spike in prices from becoming an "ongoing inflation problem," said Federal...
Economy
Most Read
Geostrategy
Oil prices seesaw as investors await Iran response to US strikes
US stocks edged higher while European markets retreated and Asian equities were mixed, with markets keeping a close eye on...
- They later dipped briefly into the red and then wobbled, standing down around one percent as European markets closed.
- Iran is the world's ninth-biggest oil-producing country, exporting just under half of the 3.3 million barrels it produces per day.
Economy
Oil prices spike after US strikes on Iran nuclear sites
Economists at MUFG warned of "high uncertainty of the outcomes and duration of this war", giving a "scenario analysis" of...
- Asian stocks were lower as traders digested the weekend's events, with Iran threatening US bases in the Mideast
- Iran is the world's ninth-biggest oil-producing country, with output of about 3.3 million barrels per day
Economy
Tesla to build first grid-scale power plant in China
New York, United States - Tesla announced Friday that it signed an agreement to build its first grid-scale energy storage...
- The project will help with the flexible adjustment of grid resources, and "effectively solve pressures relating to urban power supply," Tesla said
- Chinese media outlet Yicai reported that Tesla Shanghai, Shanghai authorities and China Kangfu International Leasing Co. held a signing ceremony Friday for the project