Xiaomi, a Chinese smartphone company, has seen remarkable success with its new electric vehicle, the SU7 sedan. With over 70,000 orders received as of April 20, Xiaomi is on track to surpass its original full-year delivery target. CEO Lei Jun announced that the company now aims to deliver 100,000 units of the electric vehicle this
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Goldman Sachs’ David Kostin has noted that even amidst concerns of margin pressures due to higher inflation, he expects earnings to increase this year. Approximately one-fifth of companies have reported thus far this earnings season, with roughly two-thirds beating bottom line expectations and one-third exceeding top line estimates. This suggests that companies are managing to
The tech sector has been experiencing a lot of volatility lately, with the chief executive of Norway’s sovereign wealth fund pointing out that there is “clearly a lot of froth” in the market. This assessment comes as U.S. tech giants like Tesla, Meta, Microsoft, and Google parent company Alphabet are set to release their earnings
The recent historic rains in the United Arab Emirates led to chaos and disruption at Dubai’s airport, causing Emirates airline to issue an apology letter to its customers. The CEO, Tim Clark, acknowledged the frustration and inconvenience faced by customers due to the lack of information, long queues, and confusion in the terminals. While the
In response to the U.S. lawmakers’ approval of $60.84 billion in support for Ukraine, Russia has expressed its concerns over Washington’s deepening involvement in what they term as a hybrid war. This escalation, according to the Russian Foreign Ministry Spokeswoman Maria Zakharova, is seen as a path that will ultimately lead to a humiliation comparable
The recent Bitcoin halving event, which marked the network’s fourth halving, has resulted in a reduction in the rewards earned by miners. The price of Bitcoin has been experiencing volatility leading up to the event, with a 4% decrease in price to approximately $64,100. While the halving itself may not directly impact the price of
In March, Singapore experienced a significant downturn in its non-oil domestic exports, with a staggering 20.7% decline compared to the previous year. This sharp drop came as a surprise to economists who had forecasted a much smaller 7% fall, marking the largest dip in exports since January 2023. The slump was primarily attributed to decreases
Federal Reserve Chair Jerome Powell recently highlighted the ongoing battle to combat inflation, noting that interest rates may need to remain higher for an extended period. Despite solid growth and strength in the labor market, progress towards the 2% inflation goal has been lacking this year. This could necessitate the continuation of current monetary policy
Recent reports from Ukraine’s top military general, Oleksandr Syrskyi, have indicated a sharp deterioration in the battlefield situation in the east of the country. Syrskyi warned that the situation on the eastern front has worsened significantly in recent days, with the enemy intensifying their offensive actions following the presidential elections in the Russian Federation. This
Following a turbulent session dominated by inflation concerns, Asia-Pacific markets are showing signs of recovery. The new trading day comes with a wave of economic data expected to provide investors with fresh insights. Key indicators in focus include China’s trade numbers for March and Singapore’s first-quarter GDP figures. China is set to release its trade