RateGain Travel Technologies’ founder and managing director, Bhanu Chopra, has been appointed as the Co-Chair of ASSOCHAM’s National Council on Travel & Tourism. Chopra, known for his expertise in AI and the tourism sector, aims to use AI to transform the travel industry and position India as a leader in AI-powered tourism solutions.
InMode Ltd., a global leader in medical technology, announced the approval of a share repurchase program of up to 7.68 million ordinary shares. The decision reflects InMode’s strong financial position and confidence in its future, despite challenging macroeconomic conditions.
Infinium, a leading producer of sustainable aviation fuel (SAF), has secured a significant investment from Brookfield Asset Management to accelerate the development and production of its ultra-low carbon eFuels. This funding will support the expansion of Infinium’s Project Roadrunner in West Texas, bringing more sustainable aviation fuel to the market and helping to decarbonize the aviation industry.
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Boeing has announced a six-month delay in reaching its production target for the 737 MAX, citing challenges in ramping up production. The new target is to reach a monthly output of 42 jets by March 2025, instead of the previous goal of September 2024. This delay comes amidst a series of challenges including a mid-air incident in January, a potential strike by union workers, and a tentative labor agreement that has left many workers dissatisfied.
US markets closed higher on Monday after a previous week of sell-offs, as investors sought bargains. Positive sentiment was fueled by anticipation of key inflation reports and the Federal Reserve’s upcoming interest rate decision. Asian markets followed suit with gains across major indices, while European markets showed mixed performance. Commodities saw mixed movements with crude oil and natural gas declining, while gold and silver gained. US futures traded lower in the pre-market.
Oracle shares surged in pre-market trading after reporting better-than-expected earnings and announcing a new partnership with Amazon Web Services (AWS). Other notable movers included Silexion Therapeutics, Quoin Pharmaceuticals, and Actelis Networks, while Edgio, UTime Limited, and SmartKem saw significant declines.
Google, at the Global AI Summit in Riyadh, highlighted the importance of empowering users with fact-checking tools in response to the growing use of AI-generated content. The company emphasized the need for user education alongside collaboration with governments and regulatory bodies to combat the spread of misinformation.
CNBC’s ‘Halftime Report Final Trades’ segment featured insights on key stocks, including financials, oil, tech, and a new S&P 500 addition. Shannon Saccocia favored iShares U.S. Financials ETF, while Jim Lebenthal highlighted Exxon Mobil’s recent performance. Stephen L. Weiss saw value in Alphabet, and Joseph M. Terranova pointed out Palantir’s inclusion in the S&P 500.
Iraq, heavily reliant on oil revenue, faces a budget crunch in 2025 due to declining oil prices. Despite increasing the 2024 budget, the government is preparing for tighter financial discipline in the following year. The country is focusing on boosting non-oil revenue through better tax collection to mitigate the financial challenges.
