© AFP 2022
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Oil giant Saudi Aramco announced first-quarter net profit of $27.27 billion on Tuesday, down 14.5 percent from last year as the Gulf kingdom kept production cuts in place. Net income was 102.27 billion riyals ($27.27 billion), down from 119.54 billion riyals ($31.88 billion) for the same quarter in 2023, Aramco said, adding that "the decrease was primarily a result of lower crude oil volume sold".
Swiss banking giant UBS on Tuesday said first quarter net profit rose 71 percent to nearly $1.8 billion after two quarters in the red due to the takeover of Credit Suisse. In March 2023, Swiss authorities strongarmed UBS into the $3.25-billion takeover to prevent Credit Suisse from going under with catastrophic consequences for the global financial system.
Amazon said Tuesday it would invest US$9 billion in Singapore over the next four years to expand its cloud computing capabilities in the city. Microsoft pledged US$2.2 billion in artificial intelligence and cloud computing investment in Malaysia on Thursday.
In the eight years since Chinese company HBIS bought a steel mill near the eastern Serbian city of Smederevo, locals say they have been plagued by heavy air pollution and thick red dust. - Cancer cases quadrupled - The Serbian Environmental Protection Agency has ranked Smederevo repeatedly among the country's most polluted cities, classified as having "excessively polluted air".
Asian markets built on the latest global rally Tuesday as optimism that the US Federal Reserve will cut interest rates this year continued to breeze through trading floors.
US air safety authorities are investigating whether embattled aviation giant Boeing completed required inspections on its 787 aircraft and whether employees falsified records, officials said Monday. "The FAA is investigating whether Boeing completed the inspections and whether company employees may have falsified aircraft records," the agency said.
Sony backtracked Monday after players of its popular cooperative third-person shooter game "Helldivers 2" pushed back against a requirement to link with its PlayStation Network platform. Steam is a popular platform for playing video games on PCs, tablets and phones, while PlayStation Network is a similar platform for PlayStation users.
European Commission President Ursula von der Leyen said on Monday that the EU would not shrink back from taking tough measures to protect its economy and security, amid tense trade relations with China. "Europe will not waver from making tough decisions needed to protect its economy and its security," she said.
The European Union on Monday approved the $14 billion takeover of major American manufacturer US Steel by Japan's Nippon Steel, which US President Joe Biden has opposed. Biden earlier this year opposed the deal because he said it was vital for US Steel "to remain an American steel company that is domestically owned and operated".
© AFP 2022
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