Gulf Cooperation Council (GCC) to see a dynamic surge in economies by 5.9% before December
The GCC is comprised of six powerful countries in the area of business expertise—the United Arab Emirates, Qatar, Saudi Arabia, Kuwait, Bahrain, and Oman. World Bank has made an official statement about the economies of GCC, and its capability to expand by a splendid 5.9% total this year. The recuperation of this chart is set […]
Semiconductor base in China, by Merck
Merck KGaA have signed a contract to open a semiconductor base in the Chinese city of Zhangjiagang. This is their largest single electronics business investment in the country. The new 69-acre base will house production plants for thin film materials and electronic specialty gasses, warehouses, and operation centers.Merck China President Allan Gabor stated that China […]
Court puts sales ban on Ford’s internet linked cars in Germany
A German court has put a nation-wide sales and production ban on Ford cars able to establish internet connection. It said this as a part of a lawsuit over the violation of wireless technology patents. The verdict by the Munich regional court is not legally binding. It said that this can still be appealed, adding […]
Hyundai motor group plans to invest $16.5 BLN in S.Korea EV business
Hyundai Motor Group said that it plans to invest a total of 21 trillion won through 2030 for the expansion of its electric vehicle (EV) business in South Korea. The South Korean auto group, which houses Hyundai Motor Co and Kia Corp, plans to annually build 1.44 million units of EVs in South Korea by 2030. […]
Elon Musk says Twitter legal team told him he violated an NDA
Elon Musk on Saturday tweeted that Twitter Inc’s legal team accused him of violating a nondisclosure agreement by revealing that the sample size for the social media platform’s checks on automated users was 100. Musk tweeted that Twitter legal just called to complain that he violated their NDA by revealing the bot check sample size is […]
Tech firms asks US supreme court to block Texas social media law
Lobbying groups representing Facebook, Twitter, Google and other tech companies filed an emergency request with the U.S. Supreme Court, seeking to block a Texas law that prohibits large social media platforms from banning users based on their political views. The Texas law went into effect when the 5th U.S. Circuit Court of Appeals granted the state’s […]
US FAA shifts gears on certifying future flying taxi pilots
The Federal Aviation Administration said that it had shifted course on its approach to approving pilots of future electric vertical takeoff and landing aircraft but does not expect it would delay certification or operational approvals. The eVTOL aircraft have been touted as air taxis that could be the future of urban air mobility. The low-altitude […]
Ford sells shares in EV maker Rivian for $214 MLN
The U.S. automaker said that Ford Motor Co sold eight million shares of electric-car maker Rivian Automotive Inc for $214 million, or $26.80 apiece. Ford now holds nearly 94 million shares, or a 10.5% stake, and is still the fourth-largest shareholder in the Irvine, California-based company. Rivian is struggling in a competitive market, including competition from Ford’s […]
Xiaomi accuses Indian agency of physical violence threats
Chinese smartphone maker Xiaomi Corp has alleged its top executives faced threats of physical violence and coercion during questioning by India’s financial crime fighting agency. Officials from the Enforcement Directorate warned the company’s former India managing director, Manu Kumar Jain, current Chief Financial Officer Sameer B.S. Rao, and their families if they did not submit statements […]
Airbnb bets on summer of travel to drive revenue growth
Vacation rental firm Airbnb Inc projected second-quarter revenue above market estimates. By betting on pent-up demand to drive a summer of strong travel after COVID-19 curbs were eased globally. The San Francisco-based firm expects revenue between $2.03 billion and $2.13 billion, compared with the average analyst expectation of $1.96 billion. The rise of hybrid working has […]