In July, Russia experienced a notable increase in seaborne exports of fuel oil and vacuum gasoil (VGO), with China and Saudi Arabia emerging as the primary destinations. This surge in exports highlights a significant shift in market dynamics following the European Union’s embargo on Russian oil products. Export Growth and Destinations Russian exports of fuel…
The World Health Organization (WHO) is set to convene an emergency meeting on Friday to address global equity in access to tests, treatments, and vaccines for mpox, a viral infection currently affecting parts of Africa and beyond. The meeting aims to ensure that lessons learned from past inequities during the COVID-19 pandemic are applied to…
OpenAI announced on Friday that it had taken action against an Iranian group for misusing its ChatGPT chatbot to create content aimed at influencing political discourse and U.S. elections. The group, identified as Storm-2035, generated content on controversial topics such as U.S. presidential candidates, the Gaza conflict, and Israel’s Olympic participation, which was then disseminated…
Concerns over Brazil’s fiscal stability and elevated interest rates have dampened expectations for a revival of the country’s initial public offering (IPO) market, which has been dormant for nearly three years. Hopes that up to 20 companies could go public this year have faded, as businesses across various sectors now anticipate that the window for…
As inflation concerns persist, Americans are increasingly turning to Walmart for their shopping needs, boosting the retailer’s performance. On Thursday, Walmart raised its annual sales and profit forecasts for the second time this year, attributing the growth to the influx of customers seeking affordable essentials. This strong performance led to an 8% surge in Walmart’s…
Boeing’s ability to meet its ambitious production targets for the 737 MAX jet is facing significant hurdles, according to analysts from Moody’s and S&P. The aerospace giant aims to ramp up production to 38 MAX jets per month by the end of 2024, a substantial increase from 25 jets per month in July. However, analysts…
Defence contractor Elbit Systems reported increased second-quarter profits on Wednesday, bolstered by heightened global demand for its military technologies. The company earned $2.08 per diluted share, excluding one-time items, up from $1.65 a year earlier. Revenue rose to $1.63 billion from $1.45 billion, with a notable shift in regional sales distribution. While sales to Israel…
UK Prime Minister Keir Starmer’s Labour government is contemplating significant revisions to the Online Safety Act following a recent surge in misinformation and related violence. This consideration comes in the wake of anti-immigration protests and inflammatory comments by X owner Elon Musk, which were widely disseminated and contributed to unrest. According to industry sources who…
Norway’s Government Pension Fund Global, the world’s largest sovereign wealth fund, reported a first-half profit of 1.48 trillion kroner ($138 billion) on Wednesday, driven by strong returns from technology investments. The fund’s total value reached 17.75 trillion kroner by the end of June. Despite an impressive overall return of 8.6% for the six-month period, the…
U.S. small-business confidence surged to its highest level in nearly two and a half years in July, signaling that fears of a looming recession may have been overstated. According to the National Federation of Independent Business (NFIB), its Small Business Optimism Index rose by 2.2 points to 93.7, marking the highest reading since February 2022.…
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