Taiwan’s Foxconn, the world’s largest contract electronics maker, said on Thursday that its Singapore unit has acquired 4.08 million shares in Foxconn Hon Hai Technology India Mega Development Private Limited for $500 million. The announcement of a $500 million injection into its India unit comes after Reuters reported last month that Apple supplier Foxconn plans […]
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SoftBank-backed Indian e-commerce firm Snapdeal has decided to pull the plug on its $152 million IPO, the company told Reuters, making it the latest casualty of a meltdown in tech stocks that has soured investor sentiment. Snapdeal filed its initial public offering (IPO) regulatory papers for approval in December 2021, a year that saw many […]
Saudi Arabia and China showcased deepening ties with a series of strategic deals on Thursday during a visit by President Xi Jinping, including one with tech giant Huawei, whose growing foray into the Gulf region has raised U.S. security concerns. King Salman signed a “comprehensive strategic partnership agreement” with Xi, who received a lavish welcome […]
The crypto winter that began earlier this year with Russia’s invasion of Ukraine has turned into a disaster with the recent FTX crash. While the ultimate fate of FTX and its creditors is not yet decided completely, it is not all doom and gloom. Telcos may have a significant chance to jump in and take […]
Chinese President Xi Jinping began a visit to Saudi Arabia on Wednesday that Beijing said marked its biggest diplomatic initiative in the Arab world, as Riyadh expands global alliances beyond a long-standing partnership with the West. The meeting between the global economic powerhouse and Gulf energy giant comes as Saudi ties with Washington are strained […]
Goldman Sachs plans to spend tens of millions of dollars to buy or invest in crypto companies after the collapse of the FTX exchange hit valuations and dampened investor interest. FTX’s implosion has heightened the need for more trustworthy, regulated cryptocurrency players, and big banks see an opportunity to pick up business, Mathew McDermott, Goldman’s […]
What did you miss following Expo 2020 in Dubai? Exhibitions inspired by history’s greatest cultures, showing everything from rare stones and tapestries to artworks and historical relics, national delicacies and spices, cultural performances, and more, blended with each country’s vision of its own future. The meeting of past and future highlights the wonder of change […]
Trade and investment ties between China and Gulf Arab states are expected to feature prominently in President Xi Jinping’s visit to Saudi Arabia this week as the region increasingly looks East to drive economic transformation at home for a post-oil era. China, the world’s biggest energy consumer, is a major trade partner of Gulf oil […]
Google’s Jigsaw subsidiary is launching a new anti-misinformation project in India, aimed at preventing misleading information that has been blamed for inciting violence, a top executive said. The initiative will use “prebunking” videos – designed to counter false claims before they become widespread – circulated on the company’s YouTube platform and other social media sites. […]
Neuralink, the Elon Musk company that Reuters reported on Monday is the target of a federal investigation over its animal trial program, has been trying to develop a brain chip that would enable the paralyzed to walk and the blind to see. Here is more on what Neuralink does. WHAT IS NEURALINK DEVELOPING? Founded in […]