China has officially launched construction of what is set to become the world’s largest hydropower dam, located on the eastern edge of the Tibetan plateau.Spearheaded by Premier Li Qiang, the Yarlung Zangbo hydropower project is expected to generate an astounding 300 billion kilowatt-hours of electricity annually – triple the output…
Asian stock markets declined at Friday’s open, breaking their longest winning streak since January, as a bout of uncertainty over the timing of Federal Reserve interest-rate cuts appeared to curb investors’ risk appetite. This cautious mood, following a mixed session on Wall Street where tech gains masked broader weakness, is…
Wheat prices in the European part of Russia have seen a significant drop, with fourth-class wheat experiencing a notable weekly decline.As of July 16, average prices for fourth-class wheat (12.5% protein) in the European part of Russia fell by 775 rubles week-on-week to 13,825 rubles per metric ton ($177/mt), according…
Shares of Intel Corporation fell sharply on Friday, down 5.8% in Frankfurt and 4.6% in US after-hours trading, after the chipmaker warned of deeper third-quarter losses than expected and outlined sweeping plans to cut more than 25,000 jobs. The restructuring comes as new CEO Lip-Bu Tan attempts to steer the…
European stock markets began the final session of the week on a decidedly negative note, with the regional Stoxx 600 index moving broadly lower as a profit warning from automotive giant Volkswagen rattled the tariff-sensitive auto sector and overshadowed some pockets of positive corporate news.Shortly after the opening bell, the…
In a deepening public feud, Elon Musk has fired back at President Donald Trump’s assertion that his companies will continue to enjoy federal subsidies, with the tech billionaire stating unequivocally that these incentives have already been scrapped. This latest war of words marks a further deterioration in the relationship between…
Shares of German sportswear giant Puma plummeted nearly 20% on Friday after the company issued a stark profit warning, stating that it now expects to post a loss this year due to weak global demand, inventory challenges, and the impending impact of US import tariffs.The Herzogenaurach-based company said it now…
LNG prices experienced a decline in both European and Asian markets this week, driven by a noticeable slowdown in competition for spot cargoes between the two regions, Rystad Energy said. “In Asia, even with ongoing heat across Japan and South Korea, gas demand remained subdued as strong nuclear and coal-fired generation…
Morgan Stanley has become the first US company to issue a panda bond, marking a significant milestone in the growing internationalization of China’s domestic bond market. The Wall Street bank issued 2 billion yuan ($275 million) worth of five-year panda bonds through its investment management subsidiary, at a yield of…
China’s robotics company Unitree has just introduced the R1, a humanoid robot priced at under $6,000, far cheaper than most bipedal robots currently on the market.Announced on Friday, the R1 stands out not only for its price but also for what it represents: a serious attempt to bring humanoid robots…