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.
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.
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 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.. Aramco floated 1.7 percent of its shares on the Saudi bourse in December 2019, generating $29.4 billion in the world's biggest initial public offering. rcb/pjm
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. . Aramco's results are consistent with record profits for 2022 reported by the five oil majors –- Shell, Chevron, ExxonMobil, BP and TotalEnergies -- which surpassed $150 billion and would have been closer to $200 billion without costly withdrawals from Russia.
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.
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.
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."
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.
A micro rocket built by a Spanish company will lift off within several weeks, Prime Minister Pedro Sanchez said on Saturday, a first for Spain as a space race hots up in Europe.. "This rocket, when it is launched, we Spaniards we will all watch it on television and I know that when, within several weeks MIURA1 will begin its journey, the devotion and hard work of many people ... will have been worthwhile," Sanchez said at the El Arenosillo launch site at Huelva, in Andalusia.
