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Hyundai to invest more than $50 bn in South Korea in major EV push
Hyundai to invest more than $50 bn in South Korea in major EV push
Technology
by  AFP

Hyundai on Wednesday revealed plans to invest more than $50 billion in South Korea by 2026, with a huge chunk dedicated to boosting the development and production of electric vehicles. Under the plan, Hyundai will create 80,000 jobs in South Korea and build three new EV factories, with the aim of increasing annual EV production in the country to 1.51 million units by 2030.

Asian markets mixed as traders assess latest rally, eye data and earnings
Asian markets mixed as traders assess latest rally, eye data and earnings
Economy
by  AFP

Markets were mixed in Asia on Wednesday following a negative day on Wall Street as observers warn the latest equities rally may have run out of steam, with investors looking for fresh catalysts to kickstart buying. All three main indexes on Wall Street ended in the red, having spent most of the day on the positive side of the line.

Labour crunch forces Croatia to open doors to Asian workforce
Labour crunch forces Croatia to open doors to Asian workforce
Economy
by  AFP

Durga Phuyal had hoped to start anew when she landed in Croatia, but the Nepali migrant faced an uphill battle to adjust to life in the Balkan country. In Nepal, Phuyal paid 7,000 euros in total for the various fees, documents and travel expenses before landing Croatia.

California looks to Europe to rein in AI
California looks to Europe to rein in AI
Technology
by  AFP

California, home to Silicon Valley, is eager to rein in the deployment of artificial intelligence and is looking to Europe's tough-on-big-tech approach for inspiration. "They are taking, essentially, a European approach on artificial intelligence - which is that we must ban the technology," said Carl Szabo, the general counsel of the association, which advocates for light touch regulation of tech.

Panama opens new cruise ship terminal at mouth of canal
Panama opens new cruise ship terminal at mouth of canal
Economy
by  AFP

Panama on Tuesday inaugurated a new cruise ship terminal at the mouth of the drought-hit Panama Canal, hoping to attract more tourists to the Central American nation. "The cruise terminal will generate new tourist routes... attracting more visitors to our country," Cortizo said at an opening ceremony.

Canadian farmers 'not satisfied' with EU trade deal
Canadian farmers 'not satisfied' with EU trade deal
Economy
by  AFP

Canadian farmers say they are bewildered by the French Senate's rejection last week of the free trade agreement between the EU and Canada -- as agricultural producers and trade experts suggest that the accord mainly benefits Europeans over their North American counterparts. "We cannot reduce the free trade agreement to just agriculture," added Dufour.

Port blocked by Baltimore bridge collapse is key hub for US shipping
Port blocked by Baltimore bridge collapse is key hub for US shipping
Economy
by  AFP

Baltimore's Francis Scott Key Bridge, named after the poet who penned the lyrics to the US national anthem, used to carry around 34,000 vehicles a day across one of the busiest harbors in the United States. The extended closure of the Francis Scott Key Bridge "will inevitably disrupt commercial activities and supply chains," the Maryland Chamber of Commerce said in a statement.