• Asian markets mostly down as China sets 5 percent growth goal

    Hong Kong, China - Asian markets largely fell on Tuesday after China set an ambitious five percent annual growth target and Wall Street shares dropped ahead of the release of key US economic indicators. Tokyo finished flat, a day after Japan's benchmark Nikkei index hit a record high, closing above 40,000...
  • Google AI research hub in Paris to host 300 experts

    The new hub part of a trend for big tech firms to base teams in European centers.
  • Alibaba share buyback program up $25bn

    Following the announcement, the firm's shares rise 5% in trading.
  • Most markets advance after tech titans fuel Wall Street surge

    Shares in Amazon, Apple and Facebook owner Meta all climbed during Thursday's session. All three companies were due to report results after the market closed
  • US stocks rebound from sell-off on Fed disappointment

    New York, United States - Wall Street stocks rose early Thursday, rebounding from the prior session's pullback as markets awaited more big tech earnings later in the day. Major indices had tumbled on Wednesday after Federal Reserve Chair Jerome Powell dampened expectations for an imminent cut in interest rates. Adam Sarhan...
  • Norway’s sovereign wealth fund posts record US$213bn profit

    Oslo, Norway - Norway's sovereign wealth fund, the world's biggest, said Tuesday it raked in a record profit of 2.2 trillion kroner ($213 billion) last year, driven by tech stocks and a weak national currency. The fund's total value reached close to 15.8 trillion kroner last year. The 16.1 percent return...
  • Foxconn to invest $1.54bn more in India

    The firm announced in May to purchase land for $37 million in India.
  • $37 billion private funding announced for new UK projects

    Spanish energy company Iberdrola announced £7 billion of funding for offshore wind infrastructure while US tech giant Microsoft plans to invest £2.5 billion in artificial intelligence (AI) infrastructure, including data centers.
  • US chip curbs disturb Chinese firms AI projects

    Shanghai, China - US restrictions on advanced computer chips are forcing China's tech giants to rethink their ambitious AI-powered projects, analysts say. E-commerce titan Alibaba on Thursday became the latest Chinese firm to admit to feeling the bite of US sanctions, as it abandoned a plan to spin off its multi-billion-dollar...
  • US tightens curbs on exports of advanced AI chips to China

    Washington, United States - The United States on Tuesday said it was tightening curbs on exports of state-of-the-art AI chips to China, sending the share price of Nvidia and other semiconductor companies plummeting on Wall Street. The measures are the latest chapter in the policy started under the Trump administration to...
  • European telecom firms urge EU to make tech, streaming giants pay

    Telecoms giants say that they need more money to maintain and update the infrastructure to meet Europe's voracious data needs, and that it would be fairer if firms like Netflix contributed towards the cost. But tech behemoths say telecoms companies already get money from customers, while digital rights activists fear...
  • EU chief wants global experts panel to confront AI challenges

    Von der Leyen said the proposed AI group should be similar to the UN's IPCC panel, whose reports establish scientific consensus on climate change. "I believe we need a similar body for AI –- on the risks and its benefits for humanity. Yes, with scientists, but also tech companies and...
  • Meta to seek user permission for targeted advertisement

    European regulators in January had dismissed the previous legal basis -- "legitimate interest" -- Meta had used to justify gathering users' personal data for targeted advertising.
  • Artificial Intelligence dangers: White House summons tech giants

    Vice President Kamala Harris and other administration officials will discuss ways to ensure consumers benefit from AI while being protected from its dangers. US President Joe Biden has urged Congress to pass laws getting stricter limits on the tech sector, but these efforts have little chance of making headway given...
  • Spotify users top 515m

    The company posted a first quarter operating loss of $172 million.
  • Tencent 2022 profit falls

    Tencent is the owner of popular messaging app WeChat.
  • Meta to slash 10,000 jobs

    The firm also announced 5,000 other roles would remain unfilled.
  • SVB failure unnerves USDC, other cryptocurrencies

    The FDIC on Friday took over SVB, a major lender to the tech world, in the second-largest bank failure in US history. The bank is expected to reopen on Monday under a new name.
  • Tech industry careers are getting gender neutral

    Women should stop thinking that they are different from men at workplaces. Instead, they should start investing in their careers like men and expect the same level of success! Only when women themselves take a gender-agnostic approach towards their careers, will the world change and make equity the norm, she...
  • China pushes for tech-sector self-reliance to combat US, allies curbs

    A broad restructuring document announced by China's cabinet on Tuesday intends to focus the Ministry of Science and Technology's resources on coordinating "scientific and technological achievements." The plan also replaces China's existing banking and insurance regulator with a new body incorporating some functions from its central bank and securities watchdog,...
  • Microsoft to lay off 10,000 workers as economic gloom deepens

    The tech giant will lay off some 10,000 employees in the coming months as the economic downturn continues to punish US tech giants. The job cuts is expected to affect close to five percent of employees and follow in the wake of similar moves by Facebook-owner Meta, Amazon and Twitter.
  • SoftBank Q2 net profit at $21.4b

    Firm's reduction of stake in Alibaba partly helped.
  • Meta to sack thousands of employees: Wall Street Journal

    Meta is planning to sack thousands of employees this week, becoming the latest tech firm to scale back its workforce. According to the Wall Street Journal the layoffs could impact "many thousands" of Meta employees. The company has about 87,000 employees worldwide working across its different platforms.
  • IHC scales up IT business, makes deals worth US$272m

    International Holding Company (IHC) has scaled up its IT business, making deals to the tune of $272 million in the first ten months of 2022. It is part of the company's long-term strategy to grow its capacity in the tech industry across different sectors.
  • Sure Global to list on Nomu

    The Saudi tech firm has set the price at $19 per share.
  • Hub71 picks latest cohort of tech startups from nine countries

    Hub71, Abu Dhabi's global tech ecosystem, has selected its latest cohort of tech startups from a large number of applicants worldwide that chose to setup and scale from the UAE's capital. For the next two years, the new cohort will participate in Hub71's Incentive Programme, benefiting from equity-free incentives worth...
  • EPG, Hub71 to help tech startups advance Abu Dhabi logistics sector

    Emirates Post Group (EPG) and Hub71, Abu Dhabi’s global tech ecosystem, will partner to provide tech startups in the Emirate with greater opportunities to collaborate with EPG and advance the logistics sector using next-generation technologies. In a statement, Hub71 said the partnership will focus on active collaborations with startups based...
  • Tokyo stocks open lower after US stocks slide

    Tokyo stocks opened lower on Wednesday after US stocks mostly retreated on concerns about growth following a profit warning from the owner of Snapchat that shocked the tech sector. The benchmark Nikkei 225 index was down 0.13 percent, or 36.02 points at 26,712.12 in early trade.
  • Tech titans curb hiring in a ‘challenging macro environment’

    From e-commerce colossus Amazon to social networking star Facebook, US tech firms that once grew with abandon have reined in hiring to endure tumultuous times. Internet giants that saw business boom during the pandemic have taken a hit from inflation, war, supply-line trouble and people returning to pre-Covid lifestyles. Corporate...
  • Facebook’s future tops agenda at Web Summit in Lisbon

    Frances Haugen, the former Facebook engineer who leaked a trove of internal documents to international media, is due to speak on the opening night.
  • Solutions by STC prices IPO at top range

    The IPO order book 130 times oversubscribed during the book-building process.