JAKARTA (Reuters) – The deputy trade minister was quoted by official news agency Antara in their piece about the short video app TikTok, which stated that it was applying for an e-commerce permit from the Indonesian government. A significant setback for TikTok, which had promised to invest billions of dollarsRead More →
NEW YORK (Reuters) – The U.S. Some of the world’s leading banks predict that global economic growth will drop further in 2024, due to rising interest rates, increasing energy prices, and a recession in the world’s two largest economies. According to a Reuters survey, the global economy will increase 2.9%Read More →
FRANKFURT (Reuters) – In September, the euro zone’s inflation rate dropped to its lowest level in two years, signaling that the European Central Bank’s steady diet of interest rate increases was working to tame inflationary trends, but at an increasing cost to economic development. According to Eurostat’s flash estimate releasedRead More →
(Reuters) For IT juggernauts like Microsoft (MSFT.O) and Alphabet (GOOGL.O), artificial intelligence is anticipated to yield significant returns in the future. But before profits start to affect the bottom line, anticipate further investments, the corporations said on Tuesday. According to Microsoft, prices increased significantly when it constructed new data centersRead More →
BERLIN (Reuters)- Volkswagen (VOWG_p.DE) announced on Wednesday that it is collaborating with Chinese EV startup Xpeng and joint venture partner SAIC to develop new vehicles and perhaps co-create platforms in order to defend market share. The Volkswagen brand will collaborate with Xpeng Inc (9868.HK) to build two cars aimed atRead More →
More than a dozen current and former staff members of the Indian edtech startup Byju’s told Reuters that this week’s new issues have increased anxieties among employees who were already uncertain about their futures as a result of earlier rounds of job reductions. On Thursday, three significant board members andRead More →
KANO (Reuters) – Muhammad Khamis Umar stands in front of stacks of plastic items at a tiny business in Kano, Nigeria’s northernmost city. Since the removal of a gasoline subsidy by the country’s new president, Bola Tinubu, the price of petrol has increased significantly. The majority of Umar’s clients travelledRead More →
SINGAPORE Reuters: Despite Saudi Arabia’s intentions to reduce production next month, China’s Unipec, the trading arm of leading Asian refiner Sinopec (600028.SS), has emerged as a key seller of August-loading Oman crude this month. This has helped to keep benchmark prices in check. Platts window, also known as the S&PRead More →
ANKARA (AP) — Recep Tayyip Erdogan was re-elected as president of Turkey last month, even though the economy is in bad shape and there is a cost-of-living problem that experts say is made worse by his unusual economic policies. The longtime leader put a well-known former banker in charge ofRead More →
LONDON (Reuters) : On Friday, sterling was on track for its greatest one-week gain versus the dollar in six months, as US interest rates seemed set to peak sooner than UK rates. With the all-important monthly US jobs data expected later in the day, currency market action was muted. “FromRead More →
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