Tech News

US hits Myanmar with new sanctions on coup 2nd anniversary

The United States slapped fresh sanctions on Myanmar Tuesday, a day before the Southeast Asian country marks the second anniversary of a military coup that launched a violent campaign against democracy activists.. Junta opponents, including anti-coup "People's Defence Forces" and a shadow government, had tried to seize "state power by means of unrest and violence," the military-dominated National Defence and Security Council said Tuesday.

Tue, Jan 31, 2023 1 mins read

Tech News

Major UAE solar plant to go online before COP summit: energy firm

One of the world's biggest solar plants will become fully operational this year in the oil-rich United Arab Emirates, months before it hosts UN climate talks, a partner company said Tuesday.. The UAE will host the COP28 climate summit in November and December, a move criticised by environmentalists who question whether one of the world's biggest oil producers should lead the fight against global warming. saa/ho/th/ami

Tue, Jan 31, 2023 1 mins read

Tech News

Pfizer eyes big drop in Covid-related revenues in 2023

After two straight years of surging sales due to Covid-19 products, Pfizer projected a steep decline in 2023 revenues as demand for vaccines and therapeutics ebbs.. Pfizer projected that 24 percent of the US population would receive a Covid-19 vaccine in 2023, down from the 31 percent level in 2022.

Tue, Jan 31, 2023 1 mins read

Tech News

US Fed starts policy meeting with smaller rate hike likely

US central bankers opened a two-day policy meeting Tuesday on rising expectations that they will slow the pace of interest rate hikes again, as inflation begins to fade.. These indicators raise hopes that the policy-setting Federal Open Market Committee (FOMC) will announce a smaller, 25 basis points hike at the end of its meeting Wednesday.

Tue, Jan 31, 2023 2 mins read

Tech News

After turbulent year, UBS upbeat with eye on Asia

Swiss banking giant UBS voiced optimism for 2023 on Tuesday, hoping that higher interest rates and a swelling business in Asia would boost its results following a turbulent 2022.. It said it expected "higher interest rates to positively affect our net interest income, especially for the Swiss franc and the euro."

Tue, Jan 31, 2023 3 mins read

Tech News

GM profits rise after record quarter in North America

General Motors rode a strong performance in North America to higher fourth-quarter profits and said Tuesday that an easing in logistics problems has helped brighten its outlook for 2023.. However, the outlook for vehicle pricing remains a question mark on auto industry profitability.

Tue, Jan 31, 2023 1 mins read

Tech News

Eurozone dodges recession but gloomy outlook persists

The eurozone economy showed greater resilience than expected after avoiding a recession in the fourth quarter of 2022, official data showed Tuesday, but the outlook remained gloomy as soaring prices dampen growth.. Italy's economy also retreated in the final quarter of 2022, decreasing by 0.1 percent, official data showed on Tuesday.

Tue, Jan 31, 2023 2 mins read

Tech News

ExxonMobil reports record profits of $55.7 bn in 2022

ExxonMobil reported record annual profits of $55.7 billion in 2022 on Tuesday, reflecting higher commodity prices amid recovering demand and the impacts of Russia's invasion of Ukraine.. In the fourth quarter, profits rose 43.7 percent to $12.8 billion, thanks to higher oil and natural gas prices and better refining margins compared with the year-ago period.

Tue, Jan 31, 2023 1 mins read

Tech News

Green energy investment tops $1 trillion, matches fossil fuels

Investment in cleaner energy is on the verge of overtaking spending on fossil fuels for the first time ever after exceeding $1 trillion last year, a report on Tuesday said.. Despite the milestone, spending on energy transition technology must immediately triple to meet the target of net-zero emissions by 2050 to combat climate change, according to research group BloombergNEF. Investment in sectors such as renewables, nuclear, zero-emission vehicles or recycling projects totalled $1.1 trillion last year, matching spending on fossil fuels, the report found.

Tue, Jan 31, 2023 1 mins read

Tech News

Brexit gloom prevails on UK's three-year anniversary

British Prime Minister Rishi Sunak defended Brexit as a "huge opportunity" on Tuesday, as the UK marked three years since leaving the EU amid economic crisis and a growing public sense of "Bregret".. "In the three years since leaving the EU, we've made huge strides in harnessing the freedoms unlocked by Brexit to tackle generational challenges," Sunak said in a statement released for the anniversary.

Tue, Jan 31, 2023 3 mins read