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China is tightening controls over exports of two key materials used to make computer chips.
China curbs exports of key computer chip materials
BEIJING — The Chinese government is tightening controls over exports of two key materials used to make computer chips.From next month, special licenses will be needed to export gallium and germanium from China, which is the world's biggest producer of the metals.It comes after Washington's efforts to curb Chinese access to some advanced microprocessors.The announcement comes just days before a high-stakes trip to Beijing by US Treasury Secretary Janet Yellen.On Monday, China's Ministry of Commerce said the restrictions were needed to "safeguard national security and interests".The silvery metals are used in semiconductor, communications and military equipment. They are also key materials in products like solar panels.Semiconductors, which power everything from...
July 04, 2023

China curbs exports of key computer chip materials

The country's inflation hit a fresh record high in May
Crisis-hit Pakistan strikes $3bn IMF bailout deal
ISLAMABAD — Crisis-hit Pakistan has reached a staff-level agreement with the International Monetary Fund (IMF) over $3bn (£2.4bn) of funding.The deal, which still needs to be approved by the global lender's board, comes after an eight-month delay.The South Asian nation is facing its worst economic crisis since independence from Britain in 1947.To help secure the deal, Pakistan's central bank raised its main interest rate to a record high of 22% on Monday.Pakistan's economy, which was already struggling after years of financial mismanagement, has been pushed to the brink by a global energy crisis and devastating floods that hit the country last year."The economy has faced several external shocks such as the catastrophic floods in 2022 that impacted the lives of millions...
June 30, 2023

Crisis-hit Pakistan strikes $3bn IMF bailout deal

A laborer carries a sack of green beans at a market in Colombo.
Five-day bank holiday for domestic debt restructuring
COLOMBO — Sri Lanka began a five-day bank holiday from Thursday to allow the crisis-hit nation to restructure $42bn (£33.2bn) in domestic debt.The country is facing its worst economic crisis since it won independence from the British in 1948.There are fears that the government's restructuring plan could lead to volatility in financial markets.Debt restructuring can involve the extension of the period over which a loan is repaid."The government's action to call an extended public holiday means it obviously saw the risk of bank runs," Alex Holmes, a senior economist at Oxford Economics, told the BBC.Local media also quoted analysts as saying that the holiday was announced to provide a suitable buffer for any potential market reactions to significant financial...
June 29, 2023

Five-day bank holiday for domestic debt restructuring

Huawei spent 5% of R&D budget on Cyber Security Globally
In an exclusive interview at the recently concluded CYSEC Saudi Summit & Awards 2023 (6th global edition), Huawei's top executive Dr. Aloysius Cheang - President & Chief Security Officer Middle East & Central Asia had an interesting interview where he sheds light on Huawei’s Vision in innovation & Cybersecurity and its contribution towards The Kingdom Saudi Arabia and Vision2030.Q: Can you shed some light on Huawei's latest technology Innovations? A: Huawei is a company that has always been focused on technical excellence. Over the last 2-3 years, the company increased investment in R&D to keep innovating for the future, create new value for its customers, partners, and the communities worldwide, and promote quality development. We have spent over $20 billion in R&D annually...
June 28, 2023

Huawei spent 5% of R&D budget on Cyber Security Globally

Turkish Airlines chosen as Europe’s best for the 8th time by Skytrax
Flag carrier Turkish Airlines, has been honored for the eighth time with the Best Airline in Europe award, along with accolades for Best Business Class Catering, Best Economy Class Catering, Best Airline in Southern Europe and Best Economy Class Seat in Europe at the World Airline Awards.The awards were announced at an event held at the Paris Air and Space Museum, known as the "Oscars of the Aviation Industry."The 2022-2023 Skytrax awards survey, available in English, French, Spanish, Russian, Japanese, and Chinese, received and evaluated more than 20.23 million responses representing citizens from over 100 countries. The winners were selected from among 325 airlines.Commenting on the awards, Turkish Airlines CEO Bilal Ekşi, said, "We are proud to have been honored as the...
June 25, 2023

Turkish Airlines chosen as Europe’s best for the 8th time by Skytrax

stc Group invested in strengthen the disaster recovery capabilities ahead of Hajj season
stc Group, the engine of digital transformation in the region, has concluded its field preparations, which focused on emergency management, crisis containment, and disaster preparedness ahead of the Hajj season 1444. The Group has major investments towards strengthening network protection and resilience capabilities and ensuring network stability and reliability throughout the Hajj season.As part of ongoing preparations, the Group reviewed its crisis procedures and conducted rigorous exercises involving simulations of various crisis, such as fires, power outages, cyber-attacks, and natural disasters. The simulations were used to review the efficiency of the Group’s real-time response rate during critical situations without compromising network performance. The Group’s continued...
June 24, 2023

stc Group invested in strengthen the disaster recovery capabilities ahead of Hajj season

'Theeb Rent a Car' signs a joint cooperation agreement with 'Chaizer Power Solutions'
“Theeb Rent a Car” Company signed a joint cooperation agreement with "Chaizer Power Solutions" to start using Chaizer's charging stations, which are much like power banks, and showcasing them in every Theeb branch across the Kingdom of Saudi Arabia.The agreement was signed at the company's headquarters in Riyadh by Mohammed Al-Kadi, Director of the Marketing & Public Relations department at “Theeb Rent a Car Co.”, and Rakan Al-Eidi, founder and CEO of Chaizer Power Solutions, in the presence of officials from both sides.According to the agreement, "Theeb Rent a Car" will start to showcase Chaizer charging stations, which contain rental power banks that users may use to charge their electronic gadgets whenever they want.On this occasion, Mohammed Al-Kadi...
June 21, 2023

'Theeb Rent a Car' signs a joint cooperation agreement with 'Chaizer Power Solutions'

Unlock the learning power of TikTok with #LearnOnTikTok!
TikTok is a multifaceted platform, where entertainment and knowledge converge, offering a boundless array of content that captivates and teaches simultaneously. With the #LearnOnTikTok movement, there’s a whole wide world of education on this vibrant platform, which is at your fingertips to help you expand your knowledge and have a laugh at the same time.Since the #LearnOnTikTok community began during the pandemic in 2020, TikTok has revolutionized the way we acquire knowledge by infusing it with fun, entertainment, and bite-sized videos. It's like stepping into a virtual classroom where education meets fun — in short, it’s "edutainment" central. In this era where digital learning has truly come into its own, pooled together with TikTok's massive community of...
June 21, 2023

Unlock the learning power of TikTok with #LearnOnTikTok!

Elon Musk described his talks with Narendra Modi as excellent
Elon Musk says Tesla to come to India 'as soon as possible'
WASHINGTON — Tesla CEO Elon Musk has said the electric carmaker will be in India "as soon as humanly possible".His comments followed a meeting with Indian Prime Minister Narendra Modi, who is on a state visit to the US.The Indian government said it had invited Musk to explore investment opportunities in electric mobility and the commercial space sector.Musk said he was "trying to figure out the right timing" to make that happen.Modi's meeting with Musk, who also owns Twitter, came days after Twitter co-founder Jack Dorsey accused India of threatening to shut down the platform for not complying with its orders to take down content from the website.Dorsey's allegations, made in an interview with an independent news show, were strongly denied by the Indian...
June 21, 2023

Elon Musk says Tesla to come to India 'as soon as possible'

Dr. Abdullah Al Fozan, Chairman & CEO at KPMG in Saudi Arabia.
KPMG: Majority of CEOs remain confident of Saudi Arabia’s growth prospects
KPMG, a leading provider of audit, tax and advisory services in the Kingdom of Saudi Arabia, has unveiled their latest CEO Outlook, titled ‘Gearing up for growth and governance,’ which provides perspectives on the global and local business and economic landscape over the next three years.The insights are based on the perspectives of 1,325 CEOs from around the world, including 50 based in Saudi Arabia, and reveal CEOs still anticipate long-term global growth but are prepared to weather short-term geopolitical and economic challenges.Confidence in global economic growth over the next three years has rebounded from early 2022 to 71 percent. In Saudi Arabia, CEO confidence in global growth stands at 60 percent, while confidence in the Kingdom’s own growth prospects over the next three...
June 20, 2023

KPMG: Majority of CEOs remain confident of Saudi Arabia’s growth prospects

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