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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

Morgan Stanley expects ECB to cut key interest rates by 75 bps in 2024

Last week, the ECB held interest rates at a record high on Thursday but signaled it could start cutting as soon as June

Meta oversight board reviews handling of AI-created celebrity porn

It provided descriptions of the images in question but did not name the famous women depicted in them in order to "prevent further harm," a board spokesperson said

Apple to ramp up investments on suppliers in manufacturing hub Vietnam

Vietnam is already a key manufacturing hub for Apple and Cook was speaking while meeting Vietnamese Prime Minister Pham Minh Chinh, state media reported

Sri Lanka fails to strike agreement on restructuring terms with bondholders

Sri Lanka plunged into its worst financial crisis since independence from the British in 1948 after its foreign exchange reserves ran to catastrophic lows in early 2022

Apple CEO Tim Cook wants to spend more on suppliers in Vietnam: Report

Cook arrived in Hanoi on Monday for the two-day visit during which he met suppliers, students, content creators and users of Apple products

Ericsson's Q1 profit rises to $394 mn, expects sales to stabilise soon

Its shares were up 6% in early trade, to levels last seen at the start of the month

Gold prices hover near record high amid growing geopolitical tensions

Citi projected gold prices to trade at $3,000 per ounce over the next 6-18 months

Interest rate cuts in India 'off the table' in FY24-25, says Morgan Stanley

The central bank seeks to ensure inflation aligns durably and sustainably to its 4 per cent target

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