Tech News

Vietnam to demand social media users verify identities

Vietnam plans to ask all social media users on platforms such as Facebook, YouTube and TikTok to verify their identities, citing the need to combat online scams.. Facebook, TikTok and YouTube do not ask users in Vietnam to verify their identity.

UBS says Credit Suisse CEO to join board in mega merger

Swiss banking giant UBS announced on Tuesday that Credit Suisse chief executive Ulrich Koerner will join its executive board following the takeover of its fallen domestic rival.. Koerner will be the only executive from Credit Suisse to remain on board after the bank is absorbed by UBS. The Swiss government strongarmed UBS into buying its rival for $3.25 billion after the collapse of three US lenders in March raised concerns about Credit Suisse's own financial health following a series of scandals in recent years.

iPhone maker Foxconn buys huge site in India tech hub

Taiwanese electronics giant Foxconn has bought a huge tract of land on the outskirts of Indian tech hub Bengaluru, the key Apple supplier said in a filing Tuesday as it looks to diversify production away from China.. The 1.2 million-square-metre (13 million-square-foot) acquisition in Devanahalli, near the airport for Indian tech hub Bengaluru, was announced in a statement to the London Stock Exchange.

Nintendo annual net profit beats forecast on strong game sales

Hit games Splatoon 3 and the new Pokemon titles helped Nintendo beat its annual net profit forecast on Tuesday, but the company predicted tougher times ahead as its Switch console ages.. But the company forecast a drop in net profit for the current financial year to 340 billion yen as it seeks to extend the profitability of the Switch, now in its seventh year.

Saudi Aramco banks lower $31.9bn after drop in oil prices

Oil giant Saudi Aramco announced first-quarter net profit of $31.9 billion on Tuesday, down 19.25 percent from a year earlier after a drop in crude prices.. An earlier transfer of four percent of Aramco shares last year went directly to the PIF. - Budget deficit - The national budget approved for 2023 foresees a surplus of 16 billion Saudi riyals ($4 billion) and GDP growth of 3.1 percent, the finance ministry said in December.

Saudi Aramco banks $31.9bn in first quarter, down 19%

Oil giant Saudi Aramco announced first-quarter net profit of $31.9 billion on Tuesday, down 19.25 percent from a year earlier after a drop in crude prices.. It is more than three-quarters of the $40.5 billion in combined first-quarter profits reported by the five oil majors: BP and Shell in Britain, ExxonMobil and Chevron in the United States, and TotalEnergies in France. 

Illegal mining booms in Brazilian Amazon 'promised land'

Working under an improvised shed hidden in the rainforest, Webson Nunes hears a shout and flips on his winch, hauling a colleague up from deep inside a giant hole with a bucket full of riches.. The police could arrive at any moment," says Nunes, inside the tarp-covered shack above the narrow, wet, 20-meter (22-yard)-deep hole into which he lowers his colleagues with a harness and steel cable to haul up big blue buckets of shiny, mineral-rich rocks.

EU lawmakers eye ambitious AI regulation

The sudden popularity of ChatGPT and other AI tools is injecting urgency into Europe's drive to regulate the sector, which this week gets rolling seriously with an ambitious text to be voted on by EU lawmakers.. EU member states only fixed their position in that process at the end of 2022 -- just as ChatGPT was taking off. 

Drought spells 'catastrophe' for Spain's olive harvest

An ongoing drought and soaring temperatures have unleashed fears of an olive "catastrophe" in Spain, the world's largest producer of olive oil, which suffered a very difficult year in 2022. . "This happened as the olive trees were in bloom," says Rafael Pico, director of Asoliva, the Spanish association of olive oil producers and exporters, who fears the blooms will dry up. 

Asian markets mostly down as US inflation moves into focus

Asian markets struggled Tuesday as investors eyed the release of US inflation data later in the week that could play a key role in shaping the Federal Reserve's interest rate plans.. National Australia Bank's Rodrigo Catril said: "The survey revealed a modest deterioration in lending standards to business at a rate that was slightly higher than in January.