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Electric vehicle prowess helps China's flying car sector take off
Electric vehicle prowess helps China's flying car sector take off

A worker in white gloves inspects the propellers of a boxy two-seater aircraft fresh off the assembly line at a Chinese factory trialling the mass production of flying cars. The lightweight six-propeller aircraft under construction take off vertically and fit into a large car, to create the "Land Aircraft Carrier" -- a modular flying vehicle made by Aridge, an arm of Chinese EV maker XPeng.

by  AFP

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Canada central bank cuts key lending rate citing Trump tariffs
Canada central bank cuts key lending rate citing Trump tariffs
by  AFP

Canada's central bank cut its key lending rate on Wednesday, offering a boost to borrowers in an economy squeezed by US President Donald Trump's trade war. - Trump has so far maintained tariff exemptions on goods compliant with an existing North American free trade agreement, partly muting the damage to Canada's economy.

US Treasury official expected to be named IMF's second-in-command: source
US Treasury official expected to be named IMF's second-in-command: source
by  AFP

The US Treasury Department's chief of staff is anticipated to join the International Monetary Fund (IMF) in a key role as its number-two official, a source told AFP on Wednesday. Katz, who is chief of staff at the Treasury, was a senior official in the department during US President Donald Trump's first administration as well.

EU says India's Russia links jeopardise closer ties
EU says India's Russia links jeopardise closer ties
by  AFP

The European Union's top diplomat warned Wednesday that its push for closer ties with India could be hampered by New Delhi's purchases of Russian oil and involvement in military drills with Moscow. US-India ties have been strained since Trump raised tariffs on most Indian exports to 50 percent last month in retaliation for New Delhi's continued purchases of Russian oil.

Nvidia CEO disappointed over China chip ban report
Nvidia CEO disappointed over China chip ban report
by  AFP

Nvidia chief executive Jensen Huang on Wednesday said he was disappointed by a report that Beijing has barred major Chinese tech companies from buying his company's world-leading chips, a crucial component in the generative AI revolution. Beijing has responded by expressing national security concerns about Nvidia chips and urging Chinese businesses to rely on local semiconductor suppliers instead.

AI may boost global trade value by nearly 40%: WTO
AI may boost global trade value by nearly 40%: WTO
by  AFP

Artificial intelligence could boost the value of global trade by almost 40 percent by 2040 thanks to cost reductions and productivity gains, the World Trade Organization said Wednesday. "AI holds major promise to boost trade by lowering trade costs and reshaping the production of goods and services," WTO chief Ngozi Okonjo-Iweala said while presenting the report.

Germany's Merz vows 'autumn of reforms' in turbulent times
Germany's Merz vows 'autumn of reforms' in turbulent times
by  AFP

Germany will need sweeping change to remain free and prosperous, Chancellor Friedrich Merz warned Wednesday, calling on the country to unite in the face of Russian aggression, economic woes and rising extremism. Public concern about immigration has meanwhile fuelled the rise of the far-right Alternative for Germany (AfD), stoked by a series of attacks carried out by migrants.

EU says India's Russian oil purchases, military drills hinder closer ties
EU says India's Russian oil purchases, military drills hinder closer ties
by  AFP

India's participation in military exercises with Moscow and its purchases of Russian oil "stand in the way of closer ties" with the EU, the bloc's top diplomat Kaja Kallas said on Wednesday. "Participating in military exercises, purchases of oil -- all these are obstacles to our cooperation when it comes to deepening the ties," Kallas said.