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China sanctions five US units of South Korean ship giant Hanwha
China imposed sanctions on five American subsidiaries of South Korean shipbuilder Hanwha Ocean on Tuesday, accusing them of supporting a US government investigation into the shipping industry, as tit-for-tat port fees took effect.
Flights cancelled as Belgium hit by national strike
A national strike over a government savings plan grounded flights and disrupted public transport in Belgium on Tuesday, with tens of thousands expected to join a demonstration in Brussels. Unions expect tens of thousands to join a rally in Brussels on Wednesday, as delays and cancellations also hit the capital's metro, tram, and bus services.
Google to invest $15 bn in India, build largest AI hub outside US
Google said Tuesday it will invest $15 billion in India over the next five years, as it announced a giant data centre and artificial intelligence base in the country. Kurian announced "capital investment of $15 billion" over the five years and a "gigawatt-scale AI hub in Visakhapatnam", a port city in the southeastern state of Andhra Pradesh.
Trump tariffs on timber, furniture take effect
US President Donald Trump's fresh tariffs on imported wood, furniture and kitchen cabinets took effect Tuesday, a development likely to fuel building costs and pile pressure on homebuyers in an already challenging market. The latest salvo features a 10-percent tariff on imports of softwood lumber, while duties on certain upholstered furniture and kitchen cabinets start at 25 percent.
Asian stocks pare tariff-led losses, Tokyo hit by political turmoil
Most Asian stocks rose Tuesday, tracking a rally on Wall Street, after Donald Trump tempered his rhetoric against China, which he has threatened with 100 percent tariffs, while Tokyo struggled amid Japanese political turmoil.
Myanmar scam cities booming despite crackdown -- using Musk's Starlink
They said they had smashed them.
Nobel economist warns of AI dangers
A winner of this year’s Nobel prize in economics warned Monday that artificial intelligence offers "amazing possibilities" but should be regulated because of its job-destroying potential. And it also obviously has an amazing potential for destroying other jobs or replacing highly skilled labor.
Europe cannot let US, China be 'technological leaders': Nobel laureate Aghion
One of the winners of this year's Nobel economics prize, France's Philippe Aghion, on Monday warned Europe that it must not let the United States and China dominate technological innovation.
IMF meetings to begin under fresh cloud of US-China trade tensions
The IMF and World Bank's semi-annual gathering of finance ministers and central bank governors gets underway in Washington on Monday, against the backdrop of new trade threats from the world's two largest economies. The annual meetings in Washington will take place at the IMF and World Bank's headquarters, situated just a stone's throw from the White House.
AFP
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