WASHINGTON: Twitter boss Elon Musk announced in a series of tweets on Saturday (Jan 21) that the company’s subscription service would show less advertising to users, including an ad-free tier. The announcement comes as the social network has faced major economic uncertainty since its takeover by Musk in October. “Ads […]
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WASHINGTON : Major unions and public interest and environmental groups are urging President Joe Biden to reject efforts by the European Union and other foreign governments to revise U.S. electric vehicle tax incentives. The $430 billion U.S. Inflation Reduction Act (IRA) passed in August restricts $7,500 consumer tax credits to […]
LONDON/SINGAPORE : Russia remained China’s second-largest source of crude oil in 2022, following repeat top supplier Saudi Arabia, as Chinese refiners snapped up low-cost Russian barrels while Western countries shunned them after the Ukraine crisis. China’s crude oil imports from Russia jumped 8 per cent in 2022 from a year […]
BENGALURU: India’s ShareChat, a short video-sharing platform backed by Google and Temasek, said on Monday it let go of around 20 per cent of its employees, as startups face increasing pressure from investors to cut costs. “There is a growing market consensus that the current global economic downturn would be […]
SHANGHAI : Investors should avoid Chinese currency risk and adapt to higher foreign exchange volatility, three state financial newspapers in Shanghai and Beijing said in front-page commentaries on Tuesday after more than a week of strong gains by the yuan. The currency may have strengthened, but this year it would […]
SHANGHAI: Tesla cut car prices in China for the second time in less than three months on Friday (Jan 6), deepening its discounts in the world’s largest auto market as competition picks up and the demand outlook darkens. The latest cut, along with a reduction in October as well as […]
BEIJING: China’s manufacturing activity contracted sharply in December for the third month in a row, according to official figures released on Saturday (Dec 31), despite Beijing’s loosening of COVID-19 restrictions at the beginning of the month. The Purchasing Managers’ Index (PMI) – a key gauge of manufacturing in the world’s […]
China will scrap quarantine for travellers from 8 January, officials said, marking the last major shift from the country’s zero-Covid policy. Travellers wait with their luggage at Beijing Capital International Airport, amid the coronavirus disease (COVID-19) outbreak in Beijing, China December 27, 2022. After three years of closed borders, […]
CEO Elon Musk’s preoccupation with Twitter after taking over the tech firm in late October and his sell-off of Tesla shares to fund his Twitter purchase has also contributed to the plunge in stock price SINGAPORE: Tesla’s shares are at their lowest level in years, with the company’s shares dropping […]
SINGAPORE : Chinese refining giant Sinopec Corp has appointed Zhong Fuliang, vice president of its trading arm Unipec, as the new managing director of the unit, according to a company representative. Zhong, 54, replaces Chen Gang, who is set to hand over the managing director’s position in January after reaching […]