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Microsoft to invest $1.5 bn in UAE-based AI firm G42, takes minority stake

G42 had divested its investments in China and began the lengthy task of pulling out Chinese hardware amid US concerns over its relationship with Chinese businesses

Joe Biden unlikely to cut Iran's oil lifeline after Israel attack

Several analysts suggested Washington might take some action to cut Iran's oil exports in part to temper any Israeli reaction to the Iranian strikes, which could escalate the conflict

Hundreds of houses, plots flooded in Russia's Kurgan: Emergency ministry

In the city of Kurgan, the region's administrative centre, power was cut off, affecting about 1,500 residents, local officials said late on Monday

Top financial regulators plan panel to weigh risks in derivatives market

The panel will be set up by the Financial Stability Development Council, which includes the finance minister, the central bank governor and the market regulator, the sources said

China's March coal output drops 4.2% amid oversupply, weak demand

Averaged out against expected production increases by some other provinces, China's total output will be about 1 per cent higher in 2024, an industry group has forecast

Israel's military vows response to Iran attack as calls for restraint mount

The prospect of Israeli retaliation has alarmed many Iranians already enduring economic pain and tighter social and political controls since protests in 2022-23

China's Baidu says AI chatbot 'Ernie Bot' has attracted 200 million users

Ernie Bot was the first locally developed ChatGPT-like chatbot to be announced in China and was approved for public release in August, last year

China's crude throughput up 1.3% in March, oil production at highest

China's crude imports slipped 6.23 per cent in March on the year to stand at 11.55 million bpd

Premiere Pro may get AI features as Adobe explores partnership with OpenAI

Adobe said that it is developing a way to add third-party AI video tools from the likes of OpenAI, to generate and use videos within Premiere Pro

US Fed should not act urgently to cut interest rates unless required: Daly

The worst thing to do is act urgently when urgency is not required, Daly, one of 19 US central bankers who set monetary policy, said at the Stanford Institute for Economic Policy Research

Believe Iran will handle situation well, spare Mideast with turmoil: China

After briefing Wang on Iran's position, Amir-Abdollahian told Wang that Iran is aware of the regional tensions, is willing to exercise restraint and has no intention of further escalations

US awards Samsung $6.4 bn in grants to boost Texas chip production

Analysts have estimated Samsung is likely to begin making 4-nanometer chips at its pilot production line and eventually expand to 2-nanometer chips

Baltimore bridge collapse: FBI opens criminal probe, fourth body recovered

The investigation into the collapse will focus in part on whether the crew of the Dali left the port knowing the freighter had serious problems with its systems, the Washington Post reported earlier

Jaguar develops mobile energy-storage unit using Range Rover batteries

The MAX BESS can charge up to nine Range Rover PHEVs at a time and can be recharged using a standard EV charger

Tesla lays off more than 10% of global workforce amid dwindling sales

Musk last announced a round of job cuts in 2022, after telling executives he had a "super bad feeling" about the economy

Japanese consortium to invest $370 mn in Natural Gas Transition Platform

The infrastructure investor said the platform will also increase investments to boost the consumption of renewable natural gas or biogas in India and use of green hydrogen using the city gas network

Crude oil sheds more than $1 per barrel after Iran's attack on Israel

Brent futures for June delivery fell 91 cents to $89.54 a barrel, a 1% loss, by 1:17 p.m. EDT (1717 GMT). U.S. crude futures for May delivery fell 87 cents to $84.79 per barrel, a 1% loss

Gold consolidates after hitting record high on West Asia tensions

Iran launched explosive drones and missiles at Israel late on Saturday in retaliation for a suspected Israeli attack on its consulate in Syria on April 1

Govt raises windfall tax on petroleum crude to Rs 9,600 per MT from Apr 16

The tax, which is revised every fortnight, will remain unchanged at zero for diesel and aviation turbine fuel

'US Treasury sees progress on multilateral bank reforms, but more to do'

Other recent steps taken by the African Development Bank and the Inter-American Development Bank (IDB) were encouraging, the Treasury official said