Covering international economic developments, trade relations between countries, and geopolitical events that impact the global economy.
The Delegation of German Industry and Commerce in Sri Lanka (AHK Sri Lanka) marked a significant milestone by hosting the 10th edition of the ‘Top German Brands in Sri Lanka’ on September 19 at the Cinnamon Grand Hotel in Colombo. This year’s event highlighted the strong bilateral ties between Germany and Sri Lanka, recognizing the
The United States has reaffirmed its support for the people of Sri Lanka in their efforts to build “an inclusive, just, democratic, and economically sustainable future,” according to Senator Ben Cardin, Chair of the Senate Foreign Relations Committee. This statement comes as Sri Lanka continues to recover from a devastating economic crisis in 2022, which
Athletes gearing up for the 2024 Olympic Games in Paris face significant financial challenges as they prepare for the pinnacle of their sporting careers. Unlike professionals in other high-level athletic leagues, Olympic hopefuls often shoulder the burden of training and competition costs, with many relying on crowdfunding platforms to finance their journeys. With full-time training
The United States has taken a significant step by revoking certain licenses that permit companies to export goods, including chips, to Huawei Technologies, a sanctioned Chinese telecommunications giant. The move, effective immediately for some companies, follows the recent launch of Huawei’s MateBook X Pro, an AI-enabled laptop featuring Intel’s new Core Ultra 9 processor. This
Amazon has unveiled plans to invest $9 billion in Singapore to bolster its cloud infrastructure in the city-state, announced during the Amazon Web Services (AWS) ASEAN Summit. This move follows the tech giant’s substantial investments in cloud services in Malaysia and Thailand last year. AWS Country Manager Priscilla Chong stated that the investment aims to
The Wall Street Journal is making significant changes to its operations in Asia, as announced in a company-wide memo by Editor-in-chief Emma Tucker. The newspaper is shifting its “center of gravity in the region” to Singapore from Hong Kong, leading to staff cuts in the latter. This move reflects a trend seen in many companies
Apple has experienced a 10 percent decline in iPhone sales amidst increasing competition from Chinese rivals like Huawei, leading to a fifth consecutive quarter of revenue decline. The tech giant, headquartered in California, reported a profit of $23.6 billion on $90.8 billion in revenue for the January-March period, with iPhone sales dropping to $45.7 billion.
Microsoft has unveiled plans to invest $2.2 billion in artificial intelligence (AI) and cloud infrastructure in Malaysia, marking a significant step to bolster the country’s digital transformation. The announcement, made by Microsoft CEO Satya Nadella during his visit to Kuala Lumpur as part of a Southeast Asia tour, includes the establishment of an AI Centre
Applied Graphite Technologies Corporation (TSXV: AGT) (OTCQB: AGRTF) has recently completed the cross-listing of its common shares to the OTCQB Venture Market (“OTCQB”), marking a significant milestone for the company. Now trading on the OTCQB under the ticker symbol “AGRTF,” investors can access real-time quotes and market information for AGRTF on www.otcmarkets.com. Notably, Applied Graphite
Samsung Electronics, a prominent South Korean tech giant and a subsidiary of the Samsung Group, has recently announced a substantial jump in its first-quarter operating profit, reaching 6.61 trillion won ($4.85 billion). This remarkable increase, nearly tenfold, is attributed to the recovery of its vital memory chip business, fueled by robust sales of its flagship