OpenAI CEO Sam Altman announced Monday that the company behind ChatGPT will continue to be run as a nonprofit, abandoning a contested plan to convert into a for-profit organization.The structural issue had become a significant point of contention for the artificial intelligence (AI) pioneer, with major investors pushing for the change to better secure their …
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Cash-strapped Maldives has signed a deal with a Dubai-based company to establish an $8.8 billion investment zone aimed at diversifying the tourism hotspot into a “financial freezone”, the government said Monday.Three residential and office towers, a convention centre and hotels will form part of the Maldives International Financial Centre (MIFC), President Mohamed Muizzu’s office said …
Crisis-hit Maldives secures $8.8bn Qatar investment Read More »
Oil prices slumped on Monday after eight OPEC+ members announced a sharp increase in production, while Asian stocks treaded water in thin trade with major markets closed.The output increase of 411,000 barrels a day announced by Saudi Arabia, Russia and six other members of the oil cartel on Saturday added to concerns about over-supply.The price …
Voters have handed Singapore’s long-time ruling party a landslide election victory, offering Prime Minister Lawrence Wong a clear mandate to navigate the trade-orientated Southeast Asian nation through economic upheaval sparked by looming US tariffs.Wong’s People’s Action Party took all but 10 seats in the 97-seat unicameral legislature with a total of 65.57 percent of the …
Singapore ruling party wins election in landslide Read More »
Massive planned US duties on solar panels made in Southeast Asia could be a chance for the region to ramp up its own long-stalled energy transition, experts say.Earlier this month, Washington announced plans for hefty duties on solar panels made in Cambodia, Vietnam, Thailand and Malaysia.The levies follow an investigation, launched before US President Donald …
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Influential billionaire investor Warren Buffett said Saturday he would retire from leading his Berkshire Hathaway business group by the end of the year and that he would recommend his chosen successor Greg Abel take over.Buffett’s success, coupled with his ability to explain his thinking in clear soundbites, has made him highly influential in the business …
Warren Buffett to retire from Berkshire Hathaway by year’s end Read More »
Australia’s left-leaning Prime Minister Anthony Albanese triumphed Saturday in national elections, crushing his conservative rival in a contest swayed by economic upheaval and US President Donald Trump. Albanese’s slow-but-steady leadership resonated at a time of global tumult, analysts said, with voters deserting hard-nosed opposition leader Peter Dutton in droves.Not only was Albanese’s Labor Party on track …
Left-leaning PM Albanese triumphs in Australian election Read More »
Japan’s annual “Golden Week” holiday period gets into full swing Saturday, but inflation and hotel prices sent soaring by record inbound tourism have left domestic travellers less eager to pack their bags.Traditionally, Golden Week — which includes three consecutive public holidays — gives Japanese workers one of their longest breaks in the year, with many …
Inflation, hotel prices curtail Japanese ‘Golden Week’ travels Read More »
Millions of Australians voted Saturday in a bitterly contested general election, following a campaign shaped by living costs, climate anxiety and US President Donald Trump’s tariffs.From dusty desert towns to sun-splashed harbour cities, voters are choosing between left-leaning incumbent Prime Minister Anthony Albanese and conservative challenger Peter Dutton.The almost universal consensus across a slew of …
Australians vote in election swayed by inflation, Trump Read More »
Global stock markets rose on Friday following a solid US jobs report as investors greeted positive signs on the US-China trade war. Data showed that US hiring slowed much less than expected last month, with the world’s largest economy adding 177,000 jobs.European equities and US stocks both jumped following the release of the data. The broad-based S&P …
