US default threatens global crisis as $31.46 trillion debt deadline looms
The United States is facing a potential global economic crisis as it approaches a catastrophic default on its $31.46 trillion debt, according to US Treasury...
Month : May 2023
Pakistan faces unrest and potential civil war following Imran Khan’s arrest
Following the arrest of former Prime Minister Imran Khan, Pakistan has been plunged into a state of unrest as violent protests erupt across the nation....
Apple partner Foxconn buys 13 million square feet site in Bengaluru for production expansion
Foxconn, the leading Apple supplier, has acquired a massive 1.2 million-square-meter (13 million-square-foot) property on the outskirts of Bengaluru, India, according to a statement issued...
Chinese Yuan hits record lows against surging US dollar
The yuan has hit new record lows against the surging US dollar, with the internationally-traded yuan reaching its lowest point since 2011 and China’s domestic...
Pakistan’s economy suffers major setback as IMF denies $6 billion loan
The International Monetary Fund (IMF) has dealt another blow to Pakistan’s economy by rejecting the country’s claim of fulfilling the conditions necessary to secure a...
Abu Dhabi hosts premier investment platform for global investors
The 12th edition of the Annual Investment Meeting (AIM Global 2023) is set to take place in Abu Dhabi from May 8 to 10. Participants...
Apple shares climb as iPhone sales rebound, surpassing estimates
Apple Inc.’s shares experienced an uptick in early trading after the tech giant reported a rebound in iPhone sales during the last quarter. The world’s...
Shopify cuts workforce by 20 percent, sells logistics arm to Flexport for equity stake
Shopify has announced plans to reduce its workforce by 20%, impacting over 2,000 employees, and has agreed to sell its logistics business to Flexport in...
Tech leaders Apple and Google collaborate to address Bluetooth tracking misuse
Apple and Google, two of the world’s most significant tech giants, have joined forces to combat the misuse of Bluetooth location-tracking devices. These devices, while...
Wall Street faces staffing cuts as Morgan Stanley plans to eliminate 3,000 jobs
As the slump in Initial Public Offerings (IPOs) and mergers on Wall Street continues to deepen this year, leading advisory firms including Morgan Stanley, Bank...