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Saudi unveils new airline to compete with Gulf rivals
Saudi Arabia announced Sunday the creation of a new national airline, part of a plan to turn Riyadh into a global aviation hub rivalling regional leaders like Dubai and Doha. Officials have in recent years tried to position Riyadh, in central Saudi Arabia, as a rival to business hub Dubai.
British tech sector 'at serious risk' after SVB collapse: govt
Britain's technology and life sciences sectors are at "serious risk" following the closure of the Silicon Valley Bank, Chancellor Jeremy Hunt warned on Sunday. "There is a serious risk to our technology and life sciences sectors, many of whom bank with this bank," Hunt said in an interview with British television channel Sky News.
Saudi Aramco reports 'record' $161 billion profit for 2022
Saudi Aramco said on Sunday it achieved "record" profits totalling $161.1 billion last year, highlighting how a surge in oil prices after Russia invaded Ukraine spurred growth in the world's biggest crude exporter.
At San Francisco expo, AI 'sorry' for destroying humanity
Advances in artificial intelligence are coming so hard and fast that a museum in San Francisco, the beating heart of the tech revolution, has imagined a memorial to the demise of humanity. "The concept of the museum is that we are in a post-apocalyptic world where artificial general intelligence has already destroyed most of humanity," said Audrey Kim, the show's curator.
Saudi Aramco reports 46% jump in profits for 2022
Saudi Aramco reported on Sunday that profits jumped 46 percent last year, highlighting how a surge in oil prices after Russia invaded Ukraine spurred growth in the world's biggest crude exporter.
China retains central bank chief in unexpected move
China retained its central bank chief Sunday in a surprise move, as the country appointed a cabinet focused on fighting economic headwinds. China also retained two top economic officials -- commerce minister Wang Wentao and finance minister Liu Kun -- as well as National Health Commission director Ma Xiaowei, who oversaw the country's zero-Covid policy.
VW joins e-car price war as global rivalry heats up
German giant Volkswagen is set to follow Tesla's lead with a high-profile price drop as the battle for global dominance in the electric car segment intensifies, and local challengers race ahead in key market China. But in the electric car segment, the Volkswagen brand has eked out a market share of just 2.4 percent, trailing Tesla at 7.8 percent and China's BYD at 16 percent.
Worry for tech startups after Silicon Valley Bank failure
Silicon Valley Bank's stunning collapse has led to the freezing of tens of billions of dollars stored there by startups and their private equity backers, raising fears of a wider tech sector fallout. - 'Doesn't look good' - Activist investor Bill Ackman raised a similar alarm on Twitter, saying that SVB's collapse "could destroy an important long-term driver of the economy."
French protests lose steam as pensions reform nears final vote
Demonstrators in France took to the streets Saturday for a seventh day of protest against President Emmanuel Macron's pension reform plans, but turnout fell well short of projections at nationwide rallies. At the last big strike and protest day on Tuesday, turnout was just under 1.3 million people, according to police, and more than three million according to unions.
AFP
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