World Bank chief urges developing countries to strike swift trade deals
Ajay Banga says delays could hurt emerging economies; calls for energy strategy overhaul and fairer lending practices towards China
World Bank chief economist sounds alarm on emerging market debt issues, urges liberalisation
IMF, World Banks Spring Meetings have been dominated by worries about economic fallout from century-high US tariffs and retaliatory action by China, EU, Canada and others
Trump poised to offer Saudi Arabia over $100 billion arms package, sources say
US president to announce arms package in visit to Saudi Arabia in May; Lockheed Martin, RTX, Boeing, Northrop Grumman, General Atomics involved in arms deal
Pakistan’s airspace ban forces Indian carriers Air India, IndiGo to reroute flights amid rising fuel costs
Indian airlines face longer flight durations and higher fuel expenses after airspace closure due to escalating tensions
Samsung to enhance production at Tamil Nadu facility with $117 million investment
Samsung will add 100 more jobs to the plant, reinforcing the company’s confidence in the labor force of Tamil Nadu state
China grants tariff exemptions on select U.S. imports
The exemptions lead to a slight increase in the value of the U.S. dollar and boost equity markets in Hong Kong and Japan
Mexico accelerates expansion of Port of Manzanillo despite trade uncertainties
The Mexican government plans to increase the port's capacity to handle 10 million 20-foot containers, up from nearly 4 million in 2024
Trump claims Chinese President Xi Jinping called him amid trade tensions
Trump indicates that he plans to announce deals with U.S. trading partners in the coming weeks
Intel sees strong demand for older processors amid trade tensions
Due to the trade war threatening Intel's revenue from its largest market, China, customers are turning to cheaper, older-generation chips
Dollar heads for first weekly gain since mid-March
Despite these signs of progress, the dollar drops 4% since Trump first announces his 'Liberation Day' tariffs on April 2
Oil prices see weekly decline as oversupply concerns and trade tensions
Brent crude futures drop by 3.3% for the week, while U.S. West Texas Intermediate (WTI) crude falls by 4.2% for the week
Intel sets sights on challenging Nvidia’s dominance in AI chip market
Intel’s strategy will rely heavily on homegrown innovations rather than acquiring AI startups, as it did between 2016 and 2019
Google’s Waymo explores personal ownership of self-driving taxis, says Pichai
Waymo currently operates a fleet of over 700 vehicles, with 300 of them running in San Francisco
Baidu’s new AI chips support training of DeepSeek-like models, says CEO
Baidu also introduced its latest AI model, Ernie 4.5 Turbo and a new reasoning model Ernie X1 Turbo
Google says AI training could add £400 billion to UK economy
According to a report based on its UK pilot programme Google says workers could save 122 hours a year by adopting AI in admin tasks