Risks are interconnected, need collaborative solutions, says WEF’s Mark Elsner
Davos, Switzerland – Mark Elsner, Head, Global Risks Initiative, World Economic Forum sat with TRENDS during WEF’s summit in Davos...
World Economic Forum
Pulitzer Prizes honor coverage of war in Gaza
New York, United States - The war in Gaza featured prominently in Monday's Pulitzer Prizes, which included a special citation for...
Business
Lamborghini sales up in 2023
The deliveries sped up 9.5 percent to 10,112 vehicles.
- 2023 was the best year ever recorded," the brand said in a press release, with sales up 12.1 percent to US$2.9 billion
- Operating profit reached $785 million, up 17.8 percent, with operating margins widening to 27.2 percent, said Lamborghini
Business
EGA to acquire Leichtmetall
EGA is to buy 100 percent of firm from Leichtmetall Holding.
- The transaction is expected to close during the first half of 2024, subject to obtaining regulatory approvals.
- Leichtmetall’s production mainly consists of hard alloy billets up to 1,150 millimetres in diameter
Business
Russia not in danger of trading oil at a loss, says Lavrov
MOSCOW, RUSSIA – Russia does not see the risk of trading oil at a loss due to the redistribution of...
- Lavrov expressed confidence that Moscow is not frightened of relying on countries that will buy Russian oil and gas.
- OPEC+ regulates the market and prices in an equitable manner, taking into account the interests of consumers, the minister said.
Geostrategy
S.Africa says Israel war undermining top UN court
South Africa's top diplomat accused Israel of setting a precedent for leaders to defy the top UN court, as she...
- South Africa has again petitioned the court in The Hague to order measures for Israel to stop "widespread starvation".
- Israel hit out as the South African plea as "outrageous" and "morally repugnant," pointing to its initiatives, including humanitarian pauses in fighting.
Science
Google’s new AI for corner kick tactics gets Liverpool approval
PARIS, FRANCE – Liverpool football analysts have given their seal of approval to a new artificial intelligence tool from Google that...
- Many clubs across the world already deploy experts to comb through video and data to carefully plan corner kick scenarios ahead of matches.
- Google DeepMind, the AI arm of the US tech giant, also targeted corners for its new TacticAI system in research.
Business
Masdar to buy stake in Terra-Gen
Masdar to buy 50 percent stake in Terra-Gen from ECP.
- Masdar’s US portfolio of utility-scale wind, solar and storage assets has a generating capacity of over 1.4 GW.
- The US market will play a vital role as Masdar plans to build a renewable energy portfolio of 100 GW capacity by 2030
Business
UAE investments abroad reach US$2.5trn in beginning of 2024, says UAEIIC
ABU DHABI, UAE – The United Arab Emirates has solidified its position as a leading regional and global player in...
- This robust financial footprint positions the UAE as a significant economic force with strong potential for continued expansion.
- The focus on emerging markets and the creation of strategic partnerships further amplifies this momentum.
Business
Shipping service connecting India, South East Asia with Saudi Arabia comes up
RIYADH, SAUDI ARABIA – VASI Shipping Pte Ltd has introduced a new shipping service IMS at King Abdulaziz Port in...
- This service aims to enhance its strategic partnerships with major international shipping lines, support the maritime sector.
- This initiative represents a significant step in bolstering the role of King Abdulaziz Port in Dammam in enhancing the maritime transport sector.
Geostrategy
Attack on Gaza’s Rafah inevitable, says Israeli PM
Israeli Prime Minister Benjamin Netanyahu vowed to send ground forces into Gaza's southern Rafah city. The right-wing premier, whose security...
- Israel has repeatedly threatened to launch a ground offensive against Hamas in Rafah.
- US has said it cannot support a Rafah operation without a "credible, achievable, executable plan" to shelter civilians.
Science
Gemini’s inaccurate AI racial images warn of tech titans’ power
AUSTIN, US – For people at the trend-setting tech festival here, the scandal that erupted after Google's Gemini chatbot cranked out...
- Gaffes such as the images of ethnically diverse Nazi troops forced Google to temporarily stop users from creating pictures of people.
- Social media users mocked and criticized Google for historically inaccurate images, like those showing a female black US senator from the 1800s.
Risks are interconnected, need collaborative solutions, says WEF’s Mark Elsner
Davos, Switzerland – Mark Elsner, Head, Global Risks Initiative, World Economic Forum sat with TRENDS during WEF’s summit in Davos...
World Economic Forum
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Liberty Media buy MotoGP
Business
Debt, trade barriers drag Asian economies in 2024, says World Bank report   Â
BANGKOK, THAILAND – Asian economies are not doing as well as they could and growth in the region is forecast...
Economy
Gaza children fly kites to escape horrors of war
RAFAH, PALESTINIAN TERRITORIES – Meters away from the concrete and steel fence separating the Gaza Strip from Egypt, 11-year-old Malak Ayad flies a...
Geostrategy
Global football stars choose Red Sea destination for holiday
TABUK, SAUDI ARABIA – A few days ago, the Red Sea destination hosted several international football stars from Saudi Pro...
Business
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Geostrategy
Turkey says Erdogan to meet Joe Biden at White House on May 9
Istanbul, Turkey - Turkish President Recep Tayyip Erdogan will meet with US counterpart Joe Biden at the White House on May...
- The Biden administration in January approved $23 billion in F-16 warplanes for Turkey swiftly after it ratified Sweden's stalled NATO membership bib
- Some analysts additionally linked Turkey's continued delays to Erdogan's anger at Washington for its support of how Israel is pursuing its war against Hamas
Geostrategy
US census to include Middle Eastern or North African category
The next US census and federal government forms will include new options for race and ethnicity including a category for...
- "These updated standards will help create more useful, accurate and up-to-date federal data on race and ethnicity," US Chief Statistician Karin Orvis said.
- These revisions will enhance the ability to compare data across federal agencies, and to understand how federal programs serve a diverse America.
Economy
US Federal Reserve’s preferred inflation gauge ticks up as fuel costs rise
WASHINGTON, US – The US central bank's favored measure of inflation edged higher last month on the back of rising fuel...
- The personal consumption expenditures price index rose at an annual rate of 2.5 percent in February.
- Much of the February increase in the cost of goods came from energy prices, which rose 2.3 percent from January.