household wealth drops

Global household wealth drops for first time since 2008 financial crisis

The bulk of the decline was felt in North American and European households which lost a combined $10.9tn

Donald Trump indicted over attempt to overturn Georgia 2020 Presidential election results

Donald Trump indicted over attempts to overturn Georgia’s 2020 Presidential Vote

This is the fourth criminal case against the former president as he campaigns for the White House

India school GCC

India supports community initiatives for new schools in GCC

Within the GCC, the largest number of Indian schools are in the UAE

India marks its 77th independence day

India at 77: A rising economic force

With 6-6.5 per cent GDP growth expected in 2023-24, India is set to enter the league of three largest economies before 2030

Pakistan Independence Day

UAE leaders congratulate President of Pakistan on Independence Day

The country is celebrating its 77th Independence Day on August 14, 2023

Musk and Zuckerberg cage fight

Zuckerberg says ‘time to move on’ from Musk cage fight challenge

The face-off between Musk and Zuckerberg intensified after the initial success of Meta’s Threads social media platform

Hawaii wildfire burns down town of Lahaina

Hawaii wildfire death toll rises to 93 as experts look into cause of ignition

The blaze that burnt down the town of Lahaina, damaged 2,207 structures with an estimated capital cost of $5.5bn

Insights: Economic growth requires reforms in higher education

The online higher education is growing and is estimated to touch $5bn by 2025

rice price

Soaring rice prices stretch budgets for billions in Asia, Africa

Rice contributes as much as 60 per cent of total calorie intake for people in parts of Southeast Asia and Africa

Proximie

SoftBank-backed Proximie launches virtual robotic-assisted surgery training course

The first observership programme will begin on October 16

Image credit: Twitter/ Virgin Galactic

Virgin Galactic flies its first private tourists to space: Watch

The suborbital ride from a New Mexico spaceport caps nearly two decades of development work for Virgin Galactic

China'es economy enters a delation period

China slides into deflation as consumer, producer prices decline

A prolonged property market slump, plunging demand for exports and subdued consumer spending are weighing on the economy’s recovery

Covid-19 sub-variant eris driving new case surge

Covid-19 new variant Eris is spiking cases across the UK, US: Here’s what we know

It has been detected in 38 states in the US and 39 countries till date

Tesla

Tesla names Indian-origin executive Vaibhav Taneja as CFO

He succeeds Zachary Kirkhorn, who stepped down from the post after working for the electric vehicle maker for 13 years

Morocco in FIFA Women's World Cup 2023

FIFA Women’s World Cup 2023: Morocco take on France in Round of 16

The Atlas Lionesses hope to make history as they seek to beat France and reach the quarter-finals

India’s rice export ban sparks concern that sugar may be next

Uneven rainfall across the country’s agricultural belts has stoked concern that sugar production will fall short

Kenya Airways

Kenya Airways, Delta Air Lines expand codeshare partnership

The partnership offers customers additional travel options within the US and increased flying opportunities within Africa

US inflation reduction act targets ghg emissions

US Inflation Reduction Act only halves greenhouse gas emissions by 2050: Study

The law’s $369bn in financial incentives will speed up the transition to renewable power and electrified transportation

India

India restricts import of laptops, tablets with immediate effect

The restriction comes on top of policies designed to discourage import of foreign electronics that have been in place for years, including lofty tariffs

Instagram , Facebook - META -AI

Meta begins blocking news in Canada in response to new law

The move came after Prime Minister Justin Trudeau’s government passed the Online News Act, expected to come into effect before the end of this year

US Fed

US credit rating downgraded from AAA by Fitch

The US is now rated AA+ by Fitch, one step below AAA, and the assessor has a stable outlook on the country

Donald Trump indicted over attempt to overturn Georgia 2020 Presidential election results

Donald Trump indicted over attempt to overturn 2020 US Presidential Election

Trump is accused of four felony counts in the grand jury indictment announced by Special Counsel Jack Smith

Jio Blackrock

Mukesh Ambani, BlackRock to launch new Indian venture

Jio Financial Services and BlackRock signed an agreement to form Jio BlackRock, an equal joint venture

food threats

Heat, conflicts and export bans: Global food threats are on the rise

The extreme heat engulfing swaths of Asia, Europe and North America is just the latest challenge driving fluctuations in the global commodity markets and impacting food prices

Turkey earthquake

Earthquakes strike central Turkey; Indonesia’s Nusa Tenggara

The earthquake’s epicentre was in the country’s Adana province and tremors were felt across the eastern and southern parts of the country

Saudia Cargo

Saudia Cargo expands European services

The air cargo services provider has signed a strategic agreement with Jan de Rijk Co to expand its reach

Gautam adani

Bain to buy majority stake in Adani Capital, Adani Housing

The sale of Adani Capital will help Gautam Adani cut liabilities on his conglomerate’s balance sheet as it focuses on its infrastructure development businesses

Twitter

Twitter changes logo to X, bids ‘adieu’ to its blue bird

Twitter’s brand toolkit page on its website calls the light-blue bird its most recognisable asset but that looks to change imminently

US Treasuries - stocks

Here are the Asia bank earnings to watch after Wall Street results fuel optimism

Wall Street behemoths such as Bank of America, Morgan Stanley, JPMorgan Chase, and Citigroup beat analysts’ expectations in the second quarter, sparking anticipation about a similar upswing in Asia

Meta's Llama 2 model released

Meta unveils AI chatbot Llama 2 for commercial use via Microsoft

The partnership aligns Meta more closely with Microsoft, which has emerged as the clear leader in AI