The chief executive of Norway’s sovereign wealth fund recently expressed concerns about the tech sector, indicating that there may be an excessive amount of speculation in the market. With U.S. tech giants such as Tesla, Meta, Microsoft, and Google parent Alphabet set to release their earnings reports, the focus is on whether the recent downturn
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Following the historic rains in the United Arab Emirates that caused record flooding, the CEO of Emirates airline, Tim Clark, issued an apology letter to customers who were affected by the chaos at Dubai’s airport. In the letter published on the airline’s website, Clark expressed his sincere apologies for the disruptions and inconvenience caused to
Russia’s reaction to the recent approval of $60.84 billion in support for Ukraine by U.S. lawmakers has sparked heightened tensions between the two nations. Moscow perceives this move as a deepening involvement of the United States in what they describe as a hybrid war. Russian President Vladimir Putin’s decision to invade Ukraine in 2022 has
The recent completion of the fourth “halving” event on the Bitcoin network has reduced the rewards earned by miners from 6.25 bitcoins to 3.125 bitcoins. This event has caused the price of bitcoin to experience volatility, with a 4% decrease this week, trading at around $64,100. While the halving itself should not have an immediate
Oil prices surged by over 3% following Israel’s strike on Iran, raising concerns about a potential escalation of conflict in the Middle East. The attack, carried out in the early hours of Friday morning, triggered a spike in oil prices as market participants assessed the impact of the strike on oil supply and regional stability.
China has expressed its firm opposition to the U.S. investigation into its maritime, logistics, and shipbuilding industries. The Chinese Ministry of Commerce referred to the move as a “mistake on top of a mistake.” According to the ministry, the U.S. provides discriminatory subsidies to its domestic industries worth hundreds of billions of dollars, yet accuses
Singapore’s non-oil domestic exports experienced a significant drop of 20.7% in March compared to the previous year. This sharp decline came as a surprise to economists, who had anticipated a much smaller fall of 7%. The decrease of 20.7% marks the largest drop in non-oil domestic exports for Singapore since January 2023. This unexpected downturn
Recently, Federal Reserve Chair Jerome Powell made comments regarding the potential need for higher interest rates in order to combat inflation. Powell noted that while there has been solid growth in the economy and strength in the labor market, progress in bringing down price growth has been limited. This lack of progress towards the 2%
The Asia-Pacific markets experienced a decline on Monday following Iran’s massive drone and missile attacks on Israel. The attack, which involved more than 300 drones and missiles, was described by President Joe Biden as “unprecedented.” The U.S. intervened to assist Israel in intercepting most of the incoming munitions. In light of these events, traders are
The recent escalation of tensions between Iran and Israel has sparked concerns of a potential regional conflict. The attacks launched by Iran have put the region on edge, with fears of further hostilities escalating into a full-scale war. The involvement of the United States and other international leaders adds another layer of complexity to an
