Results for: Business

The Maldives has downplayed its financial challenges, assuring the public that the situation is temporary and that the nation will not be seeking an International Monetary Fund (IMF) bailout. The island nation, known for its luxury resorts and celebrity clientele, plans to address its debt obligations through tax hikes and restructuring state-owned enterprises. While acknowledging a dip in reserves, the government emphasizes its strong bilateral relationships with China and India, which remain crucial financial partners.

Intel has reportedly secured a $3.5 billion contract from the US military to manufacture advanced semiconductors for military and intelligence use. The deal, part of the Secure Enclave program, strengthens Intel’s position in the semiconductor industry and comes with potential additional funding from the Chips and Science Act.

OpenAI, the artificial intelligence startup behind ChatGPT, is on the verge of a massive funding round that could value the company at a staggering $150 billion. However, this valuation depends on significant corporate changes, including the removal of a profit cap for investors. This move, while attracting significant investor interest, raises questions about OpenAI’s commitment to its non-profit roots and its mission to build AI for everyone’s benefit.

Democratic presidential nominee Kamala Harris has promised to eliminate college degree prerequisites for certain federal jobs if elected. This proposal is part of her economic strategy to appeal to voters without a bachelor’s degree, a significant portion of the American population. Harris also emphasizes the value of alternative routes to success, like apprenticeships and technical programs, encouraging the private sector to follow suit.

Meta CEO Mark Zuckerberg has announced he’s done apologizing for issues beyond his control, particularly those tied to politics and Facebook’s role in the 2016 US election. He acknowledges taking on too much responsibility for external problems, highlighting the complexities of navigating political landscapes and online platforms.

Melbourne Airport’s third runway is set to deliver a major economic boost to the city’s north-west, creating jobs and contributing billions to Victoria’s economy. The project will also implement extensive noise mitigation measures to minimize the impact on local residents.

Melbourne Airport is set to receive a major upgrade with the approval of its long-awaited third runway. The project, expected to be completed by 2031, will significantly expand the airport’s capacity, generate thousands of jobs, and boost Victoria’s economy.

President Biden has publicly denounced former President Trump’s derogatory comments about Haitian immigrants, calling them ‘simply wrong.’ During a White House event, Biden refuted Trump’s claim that Haitian immigrants steal and consume pets, a falsehood also spread by other Republican figures. Biden emphasized the need to stop the spread of such misinformation and highlighted the strength and resilience of the Haitian American community.

Pope Francis has expressed concern over the stances of U.S. presidential candidates on abortion and migration, urging American Catholics to vote for the ‘lesser evil’ in the upcoming elections. He specifically criticized abortion, calling it the killing of a human being, and emphasized the biblical call to welcome migrants, stating that refusing to do so is a ‘grave sin.’

China’s cultural and tourism industries witnessed substantial growth in the first half of 2024, with cultural enterprises generating record revenue and domestic tourism experiencing a significant surge in both trips and spending. This positive trend highlights the thriving state of these sectors and their crucial role in supporting the Chinese economy.