WEF’s Dubai Summit tackles existential digital risks
DUBAI, UAE – A powerful confluence of more than 500 experts and 150 cybersecurity leaders has converged in Dubai for...
Business
Trump says no reason to meet Xi, threatens ‘massive’ China tariffs
US President Donald Trump said Friday he no longer feels the need for a summit with Chinese leader Xi Jinping...
Economy
Economy
Gold futures hit record on US tariff shock; mixed day for stocks
Gold futures hit a record high Friday following reports of an unexpected tariff on the precious metal as global stocks...
- Wall Street enjoyed a sunny Friday led by the tech-rich Nasdaq Composite Index, which posted a second straight record
- Investors are growing confident that President Donald Trump's constantly-changing US trade policy won't derail the surge in investment around artificial intelligence
Business
OpenAI releases ChatGPT-5 as AI race accelerates
San Francisco, United States -- OpenAI released a keenly awaited new generation of its hallmark ChatGPT on Thursday, touting "significant" advancements...
- ChatGPT-5 is rolling out free to all users of the AI tool, which is used by nearly 700 million people weekly, OpenAI said in a briefing with journalists.
- Co-founder and chief executive Sam Altman touted this latest iteration as "clearly a model that is generally intelligent."
Economy
Average US tariffs now highest since 1910s: WTO and IMF
The figure, calculated by the two organizations, stands in contrast with the 2.4 percent rate in force at the time...
- A trade "truce" brought down sky-high tariff levels that the United States and China had imposed upon one another, but that is set to expire next week.
- The new figure by the WTO and IMF takes into account the trade deals the US negotiated with the EU, Japan, South Korea and other nations that have now come into force.
Economy
Trump announces 100% chip tariff, pressuring Asian producers
The US president unveiled the levy at the White House on Wednesday ahead of the imposition of sweeping tariffs on...
- shares in Taiwan's TSMC -- world's largest contract maker of chips -- soared nearly 5% after the government said the company will not be affected.
- Trump has previously accused Taiwan of having stolen the US chip industry, and earlier this year, TSMC unveiled a plan to invest an extra $100 billion in the United States.
Economy
Syria inks infrastructure and real-estate deals worth $14 billion
Since the overthrow of longtime ruler Bashar al-Assad in December, Syria's new authorities have worked to attract investment for the...
- The plans include a $4 billion investment project for Damascus airport and $2bn in investment for a Damascus metro, as well as more than $2bn for a mall and two towers development
- Last month, Saudi Arabia signed major investment and partnership deals with Syria, valued at $6.4 billion.
Economy
Trump says to raise tariff on India over Russia oil purchases
President Donald Trump threatened Monday to "substantially" hike US tariffs on goods from India over its purchases of Russian oil...
- Trump's heightened pressure on India comes after he signaled fresh sanctions on Moscow if it did not make progress by Friday towards a peace deal with Kyiv
- Moscow is anticipating talks with the US leader's special envoy Steve Witkoff, who is expected to meet President Vladimir Putin this week
Business
Jordan sees decrease in number of tourists over Gaza war
Amman, Jordan -- Jordan has seen a decrease in the number of tourists visiting its famed ancient city of Petra...
- According to figures from the Petra tourism authority carried by official media, 32 hotels have had to shut down and nearly 700 people have lost their jobs.
- Petra, famous for its stunning temples hewn from rose-pink cliff faces, is a UN World Heritage site.
Economy
AI search pushing an already weakened media ecosystem to the brink
New York, United States - Generative artificial intelligence assistants like ChatGPT are cutting into traditional online search traffic, depriving news...
- A recent Pew Research Center study reveals that AI-generated summaries now appearing regularly in Google searches discourage users from clicking through to source articles
- This represents a devastating loss of visitors for online media sites that depend on traffic for both advertising revenue and subscription conversions
Economy
Qatar to expand scheme to boost Syria power supply
Qatar is to expand its scheme to boost the power supply in Syria by paying for deliveries of Azerbaijani gas...
- The deliveries, aimed at alleviating chronic power outages in Syria, will increase the Qatari scheme's generating capacity to 800 megawatts per day
- A first phase of the Qatari scheme to fund gas supplies for power generation rolled out in March via Jordan and provided 400 megawatts of electricity per day
Economy
World economies reel from Trump’s tariffs
The tariffs are a demonstration of raw economic power that Trump sees putting US exporters in a stronger position while...
- But the muscular approach has raised fears of inflation and other economic fallout in the world's biggest economy.
- Stock markets in Hong Kong and London slumped as they digested the turmoil.
WEF’s Dubai Summit tackles existential digital risks
DUBAI, UAE – A powerful confluence of more than 500 experts and 150 cybersecurity leaders has converged in Dubai for...
Business
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US Fed makes first rate cut of 25 basis points over employment risks as Trump mounts pressure
Fed Chair Jerome Powell stressed that the central bank remains "strongly committed" to maintaining its independence from politics, however, when...
Economy
Scientists train AI model to predict future illnesses
Paris, France - Scientists said Wednesday that they had created an AI model able to predict medical diagnoses years in...
Science
AI to boost trade by nearly 40% by 2040: World Trade Report 2025
The 2025 edition of the World Trade Report reveals that, with the right enabling policies, artificial intelligence (AI) could boost...
Economy
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Economy
Asian markets rise as traders prepare for expected US rate cut
Asian stocks rose again Tuesday to extend another record day on Wall Street as traders locked in bets on a...
- While the outcome of the Federal Reserve's policy decision Wednesday is considered a fait accompli, there is still a lot of discussion over its plans for future meetings
- Bank boss Jerome Powell's post-meeting comments will also be pored over for an idea about decision-makers' thinking as the US jobs market slows
Economy
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...
- Since the bank's last reduction in December, it has held interest rates at a range between 4.25 percent and 4.50 percent as policymakers monitor the effects of Trump's sweeping tar
- Analysts now broadly expect a 25 basis points rate cut at the end of its two-day meeting on Wednesday, as hiring slows.
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...
- Turkey's central bank had raised its key interest rate to 46 percent in April after protests over the jailing of Istanbul's powerful opposition mayor
- The bank decided to reduce it again on Thursday to 40.5 percent -- a bigger cut than the two-percentage-point reduction expected by analysts