BUSINESS

The Threads app launched by Instagram as a rival to Twitter has signed up more than 100 million users in less than five days, data tracking websites said on Monday, smashing the record of AI tool ChatGPT for fastest-growing consumer app.

The head of French firm TotalEnergies says national oil giants from the Gulf and other nations must pull their weight against global warming, and the Emirati oil executive chairing the COP28 climate summit is right man to press them.

Threads, Mark Zuckerberg's Instagram-based challenge to dethrone Elon Musk's troubled Twitter, has already secured tens of millions of downloads, but it remains to be seen whether this Twitter rival will be a winning one.

Taiwan's chip giant TSMC said Thursday it did not expect any direct effect on production from China's latest export controls on two rare metals essential for making semiconductors.

Facebook behemoth Meta officially launched Threads, its text-based rival to Twitter, on Wednesday -- but its release in Europe has been delayed over data privacy concerns.

Markets fell again in most of Asia on Thursday as traders resigned themselves to more US interest rate hikes after minutes from the Federal Reserve's June meeting showed officials felt more needed to be done to rein in inflation.

Elon Musk spent the weekend further alienating Twitter users with more drastic changes to the social media giant, and he is facing a new challenge as tech nemesis Mark Zuckerberg prepares to launch a rival app this week.

Seven tech giants, including Amazon and Apple, have informed the European Union they meet the threshold to come under landmark new rules to curb their market dominance, Brussels said Tuesday.

An Indian court on Friday fined Twitter $61,000 after dismissing its plea challenging orders to remove tweets and accounts critical of Prime Minister Narendra Modi's government.

Striking workers at Spirit Aerosystems, a key Boeing supplier, will return to the factory after approving an enhanced four-year labor contract, the union said Thursday.

Earlier this month, Iraq's parliament finally approved a long-awaited record $153bn three-year budget

As climate change and global population growth pose ever greater challenges for agriculture, Israeli technology offers a wealth of inventions and advanced tools to help farmers adapt.

The partnership is 51 percent owned by AD Ports Group and 49 percent by Premier Marine.

"You can see from how quickly the properties are selling that there is a need for this kind of building. People are liking the fact that you're only a 15-minute journey from most parts of Dubai, including the airport," the sales project manager for Al Habtoor Tower, Omar Kabalan said.

"The region's focus on mobile gaming and the continued popularity of console and PC games demonstrate its adaptability and potential for further expansion," Pavel Kasperovich, Principal at BCG, said.

Nissan top executive Ashwani Gupta is leaving the company, the Japanese automaker said Friday, in a surprise departure that will revive concerns about the stability of the firm's leadership.

Shell plans to maintain oil production levels until 2030, the British energy giant said Wednesday, triggering an outcry from green campaigners who also slammed a big payout for shareholders.

The United Arab Emirates has been making significant strides in the global AI ecosystem over the past years

Asia-focused bank giant HSBC on Monday relaunched the recently-acquired UK arm of collapsed US lender Silicon Valley Bank as part of a major push into technology and life sciences.

Semiconductors have become a flashpoint issue between the United States and China, which are locked in a fierce battle over access to chip-making technology and supplies.

The deadline has been moved from June 30 to July 7.

WhatsApp on Thursday began letting select organizations try a new feature called "Channels" that lets them broadcast to followers on the popular, Meta-owned messaging service.

The wind farm project will be the largest in Africa and one of the largest in the world. In a statement, UAE Minister of Industry and Advanced Technology Dr. Sultan Al Jaber said the project, which is being developed by the consortium led by Masdar, is a reflection of the strong relations between the UAE and Egypt.

Asian markets wobbled Tuesday after a two-day rally as profit-takers stepped in and traders weighed the chances of the Federal Reserve skipping an interest rate hike this month.

A Citroen 2CV made of wood, thought to be the only one of its kind, has sold for 210,000 euros ($225,000) at auction in France -- a new price record for the iconic vehicle.

The association added that its 2022 losses were half as bad as previously estimated at $3.6 billion.

Ministry of Energy and Infrastructure Suhail Al Mazrouei announced on Sunday that the country would extend until the end of December 2024 its production of 144,000 barrels per day, as agreed upon at the 35th ministerial meeting of the Organization of the Petroleum Exporting Countries and its allies (OPEC+) on June 4. Meanwhile, OPEC+ also announced on Sunday that it would not change its planned oil production reduction for 2023. The organization said it would limit its combined oil production to 40.463 million barrels per day from January to December 2024.

Riyadh on Sunday announced a fresh oil output cut following a meeting of major producers aiming to prop up prices despite fears of a recession.

In a suburb of Tel Aviv, a group of choristers were getting ready for the moment they will rejoice at the reconstruction of the Jewish temple some 2,000 years after its destruction, which they believe will accelerate the arrival of the messiah.