BUSINESS

Taiwanese tech giant Foxconn said on Tuesday it is building the world's largest production plant for US hardware leader Nvidia's GB200 "superchips" that power artificial intelligence servers.

Top Chinese economic policymakers are expected to flesh out a raft of growth-boosting policies on Tuesday, after the announcement of long-awaited stimulus measures last month sparked a blistering stock market rally.

The deal has been built on strong economic ties between the UAE and Jordan. In 2023, non-oil trade between the two countries was over $4.2 billion. In the first half of 2024, it reached $2.7 billion, a 36.8% increase compared to the same time in 2023.

EU countries on Friday gave a definitive green light to hefty additional tariffs on electric cars made in China, despite strong opposition led by Germany and fears it will spark a trade war with Beijing.

US dockworkers will return to work after a three-day strike at East and Gulf Coast ports after the union and port operators reached a tentative deal on pay and extended the current contract to January 15, both sides said Thursday.

US private sector hiring picked up in September, with employers adding more jobs than anticipated, according to data released Wednesday by payroll firm ADP. ADP data showed private sector employment rose by 143,000 jobs, significantly higher than the 120,000 figure that a consensus by Briefing.com expected.

The EU voiced concerns about "harmful" content posted on Snapchat, TikTok and YouTube as it told the digital platforms on Wednesday to hand over more information on how their platforms recommend content to users.

Tech giant Oracle on Wednesday said it plans to invest more than $6.5 billion on cloud services data centres in Malaysia, joining a list of US titans rushing to build up their AI infrastructure in Southeast Asia.

A Brazilian judge on Tuesday ordered the unblocking of the bank accounts of Elon Musk's X in the country after the social media platform agreed to pay more than $5 million in fines.

The eurozone's annual inflation rate fell to its lowest level in three-and-a-half years in September, official data showed Tuesday, dropping below the European Central Bank's two-percent target and fuelling expectations of a rate cut.

Qatar Airways unveiled a bid to take a 25 percent stake in troubled airline Virgin Australia on Tuesday, a deal that could shake up Australia's Qantas-dominated market.

Dockworkers at major ports along the US East and Gulf Coasts went on strike Tuesday after last-minute negotiations yielded no new labor contract, a stoppage expected to drag on the world's largest economy just ahead of the November presidential election.

The program, launched by the Abu Dhabi Department of Economic Development (ADDED) in 2023, aims to help small and medium-sized enterprises (SMEs) participate in procurement opportunities with large private companies and government-related entities.

The framework of the partnership identifies six investment areas including biodiversity corridors, reforestation, and agroecology, that aim to provide benefits for climate, biodiversity and community development.

The UAE-New Zealand CEPA will lower or remove tariffs, get rid of unnecessary trade barriers, improve access to markets, and create new opportunities for investment and cooperation between the private sectors of both countries.

The program will ensure that SMEs can grow and become more competitive internationally by providing them with advanced digital tools, resources, and mentorship. Additionally, the initiative aims to speed up their digital development and help them reach a global audience.

Sweden's beleaguered electric car battery maker Northvolt said Monday it would cut a quarter of its staff in the country, as it struggles with strained finances and a slowdown in demand.

Boeing proposed lifting hourly wages for striking workers by 30 percent on Monday, sweetening its initial offer in an effort to end a 10-day stoppage that shuttered Seattle-area plants.

Everton announced on Monday that the US-based Friedkin Group has reached an agreement to buy Farhad Moshiri's majority stake in the struggling Premier League club.

Telegram founder and chief executive Pavel Durov said Monday that the messaging platform had removed more "problematic content", weeks after his arrest in France on charges of failing to act against criminals using the app.

The EU on Monday launched a WTO challenge against a Chinese anti-subsidy investigation into imports of European dairy product, in an escalating trade row between Beijing and Brussels.

The Bank of Japan left interest rates unchanged on Friday, but governor Kazuo Ueda said further hikes remain on the cards if the economy grows as predicted.

UK state debt is as big as the country's economic output for the first time since the 1960s, data showed Friday, as the new government warns of tough fiscal decisions before its maiden budget.

A group of companies including Meta and Spotify blasted the European Union Thursday for its "fragmented and inconsistent" decision-making on data privacy and artificial intelligence (AI).

An engine defect in the Airbus A350 plane that led to the cancellation of dozens of Cathay Pacific flights in early September could have escalated into "extensive damage", according to the results of a Hong Kong probe released Thursday.

YouTube beefed up tools for creators on Wednesday as it competes with streaming rivals such as Netflix on the biggest screen in most homes: the television.

Boeing said Wednesday it would start furloughs of professional and white-collar staff as it seeks to conserve cash amid a labor strike that shuttered Seattle manufacturing plants -- while talks with a union stalled.

Tupperware Brands and some of its subsidiaries filed for Chapter 11 bankruptcy protection on Tuesday, the food container firm said in a statement.

The union for striking Boeing workers said Tuesday the aviation giant was not "taking mediation seriously," after some 33,000 US employees walked out last week over a contract dispute, effectively shutting down two Seattle-area plants.