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The UAE's AI minister believes we'll have "centers and nodes of excellence across the world." Last year, the country's wealthiest emirate, Abu Dhabi, launched Falcon — its first open-source large language model. Abu Dhabi's ruling family also controls several of the world's largest sovereign wealth funds, including the Abu Dhabi Investment Authority and Mubadala Investment Company, a founding partner of MGX. In 2010, New York University launched a branch in Abu Dhabi that has since developed a focus on AI. Its "true strengths lie in the leadership's strategic vision, substantial investments in AI research and compute capacity, and government-led initiatives in industry.
Persons: we'll, , Omar Sultan Al Olama, Al Olama, Abu Dhabi's, PwC, It's, Mohamed bin, Abu Dhabi, Nancy Gleason, Mohamed Organizations: United, United Arab Emirates, Service, Stanford's Center, Atlantic Council, International Trade Administration, Abu, Abu Dhabi Investment Authority, Mubadala Investment Company, Atlantic, New York University, University of Artificial Intelligence, Intelligence, NYU Abu Locations: United Arab, Silicon Valley, Malta, Paris, United Arab Emirates, UAE, Silicon, Abu Dhabi, United States, China, Dubai, University, Abu, NYU Abu Dhabi
Foreign investors now hold 39% of Peru's sovereign bond market holdings, the highest level across all emerging market countries. This underscores the increasingly positive sentiment surrounding the Peru's fixed income outlook. "It has recognized the need to provide international investors positive returns on domestic assets, and for central banks to be aligned with international investors and provide positive returns on domestic assets." "In some sense, the lack of a strong executive has led to better fixed income outcomes," Austerweil added. Dhawan also underscored that Peruvian fixed income is a high quality market for foreign investors.
Persons: Moody's, Dina Boluarte's, Pramol Dhawan, Pimco, Dhawan, David Austerweil, Soberano, Austerweil Organizations: Southern Copper Corp, Lawmakers, Peruvian, International Monetary Fund, Central Reserve Bank of, Bank of America, Mining Locations: Peru, Sol, Central Reserve Bank of Peru, America, U.S, Peruvian, China
Oil prices slid, while investors shrugged off sluggishness in China stocks. Wall Street is gearing up for CPI, which is in focus after the strong September payroll report. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementStock markets opened higher on Tuesday as oil prices dipped, helping investors recover slightly after Monday's losing session. Instead, Wall Street is largely focused on earnings and upcoming inflation data, scheduled for release on Thursday.
Persons: Stocks, , Monday's, Brent, Wells Organizations: CPI, Service, Stock, Federal Reserve, Bank of America, PepsiCo, JPMorgan, BlackRock Locations: sluggishness, China, Beijing, Wells Fargo, Here's
On a recent trip there, I spent one night in a glamping tent and the other in a tiny house. The tiny house was more comfortable, but the glamping tent felt like a proper escape from the city. Big Tiny, a tiny house startup in Singapore, launched Tiny Away on Lazarus in May last year. AdvertisementThe tiny house was more comfortableDespite the tent having a queen-sized bed (left), the author felt more comfortable in the tiny house (right). The glamping tent offered a more novel experienceThe author spent one night journaling in the glamping tent (left) and the other watching Netflix in the tiny house (right).
Persons: , Lazarus, May, Ray Lee, Sam Wong, Prudence Lai, Erin Liam, cofounders, there's, unplug Organizations: Service, Sentosa Development Corporation, Singapore's Ministry of Trade and Industry, Singapore Zoo, Business, Netflix Locations: Lazarus, Singapore, Southern
However, despite the measures, which have mainly focused on monetary policy, the World Bank's 2025 growth projection was unchanged from earlier projections. The international lender estimated that China's growth rate would drop to 4.3% next year, down from a projected 4.8% in 2024, in an economic update on Tuesday. China's economic growth rate is expected to decline further in 2025 despite a temporary boost from recent stimulus measures, according to the World Bank. The World Bank has long advocated for China to boost its growth through bold policy actions such as unleashing competition, upgrading infrastructure, and reforming education. "For three decades, China's growth has spilled over beneficially to its neighbors, but the size of that impetus is now diminishing," the World Bank said in its Tuesday report.
Persons: Aaditya, Mattoo, James Sullivan, Hui Shan, Goldman Sachs, CNBC's, Goldman Organizations: World Bank, Bank, JPMorgan, National, Reform, East Locations: Aaditya Mattoo, East Asia, Pacific, Beijing, Asia, China, beneficially
The Federal Supreme Court (STF) in Brazil suspends Elon Musk's social network after it fails to comply with orders from Minister Alexandre de Moraes to block accounts of those being investigated by the Brazilian justice system. Elon Musk's X is getting back up and running in Brazil after a months-long standoff between the company and the country's federal supreme court minister, Alexandre de Moraes. "X is proud to return to Brazil," the company wrote in a post on X from its global government affairs account. Rather than comply, Musk initially closed X's headquarters in Brazil, and said he wouldn't employ a legal representative there for a time. G1 Globo news reported that users were regaining access to X on Tuesday after the court authorization.
Persons: Alexandre de Moraes, Elon Musk's, de Moraes, Brazil's, Musk, Voldemort, Moraes, Brazilenese, X, Tim Higgins Organizations: Federal Supreme Court, Elon, SpaceX, Globo Locations: Brazil, Brazilian
AdvertisementLike Woodman, millions of Americans travel abroad for medical procedures each year, saving anywhere from 40% to 90% on the services they receive. Medical tourism comes with risks; the American Medical Association recommends going only to medical facilities recognized by international accrediting bodies and following up testing with care at home. It's unclear, though, how many medical tourists visit accredited facilities, and there's still the question of whether all these tests are useful for someone who is seemingly in good health. Related storiesSince COVID-19 came into the picture, health screenings and extensive physicals have received some buzz. As more people spend time abroad, it becomes easier to tack a few small medical tests onto your trip.
Persons: Josef Woodman's, , Chapel Hill , North Carolina —, You've, Woodman, There's, Kim Kardashian, you've, you'd, that's, Bryn Elise, I'd, Elise, influencer, I've, it's, Paulo Neno, Neno, there's, Elise's, Kardashian, Prenuvo, Arturo Vargas Bustamante, Vargas Bustamante, Misael Uribe Ramos, Uribe Ramos, Imani Bashir, Bashir, Krishnan Organizations: Duke University Hospital, cabanas, CAT, American Medical Association, Joint Commission International, University of California, Commission, Centers for Disease Control, CDC, of Disease Prevention, Health, Disease Prevention, National Academy of Medicine, country's Ministry of Health, Labour, Welfare, United Arab Locations: Chapel Hill , North Carolina, Bangkok, Mexico, United States, Turkey, Illinois, Los Angeles, Médica, Mexico City, Japan, South Korea, Thailand, United Arab Emirates, Barbados, Cancún, Washington , DC, Brooklyn
Ukraine is set for another fierce winter as Russia is expected to keep up the pressure. It'll come at a cost for Moscow: Over 1,000 wounded or dead troops per day, the UK MOD said on Monday. British officials said Russia has likely suffered over 648,000 casualties since the war began. AdvertisementThe UK Defense Ministry expects Russia to lose 1,000 or more troops per day in the coming winter, saying Moscow will likely keep trying to overwhelm Ukraine in the next months despite difficult conditions. Russian troops took Vuhledar in early October after two years of fighting.
Persons: , lon Organizations: Service, UK Defense Ministry, New York Times, Kremlin, Latest Defence, Defence, unc Locations: Ukraine, Russia, Moscow, May, Ukrainian
A customer places a Japanese 10,000 yen banknote on a checkout counter while making a purchase at an Akidai YK supermarket in Tokyo, Japan, on Monday, June 27, 2022. SINGAPORE — Asia-Pacific markets mostly fell on Tuesday, with investors watching August pay and spending data out from Japan and as mainland Chinese markets return to trade. Household spending in Japan fell 1.9% year-on-year in August in real terms, a softer fall compared to the 2.6% decline expected by a Reuters poll of economists. That decline also came before spring wage negotiations delivered the largest pay hikes to unionized Japanese workers in 33 years. However, real wages rose in August, with data from the country's statistics bureau indicating that wages climbed 2% to an average of 574,334 yen ($3,877.44).
Locations: Tokyo, Japan, SINGAPORE — Asia, Pacific
China's stock rally could extend another 15% to 20%, Goldman Sachs says. Goldman highlighted out still-low valuations and diminishing risk as tailwinds for a continued rally. AdvertisementThe blowout surge in China's stock market still has ways to go, with another 15% to 20% upside ahead, Goldman Sachs predicts. Third, earnings growth could pick up if the economy responds well to China's latest support measures. Goldman is optimistic in this outcome, estimating that the central bank's policy easing could uplift China's GDP by 40 basis points.
Persons: Goldman Sachs, Goldman, , It's Organizations: Beijing, Service Locations: China, Beijing
AdvertisementVarious Chinese ministries and local governments are likely to roll out a variety of stimulus measures in the coming weeks — useful or not, they added. China still has a massive property problem that's unlikely to be solved with one set of stimulus measures. China's stock markets, which are dominated by retail investors fixated on social media, are blistering hot. China's stock markets are closed for weeklong National Day public holidays and are set to reopen on Tuesday. "Stimulus measures could add more fuel to the fire when stock markets are already heated.
Persons: , it's, Nomura, Freya Beamish, Rory Green, Ben Harburg, Larry Hu, Hu, Magdalena Polan, Polan, China's Organizations: Service, Global Data.TS, , MSA, Macquarie Group, CSI, Nomura Locations: China, Saudi Arabia, Beijing, Harburg
Oil pares gains after strongest weekly rise in over a year
  + stars: | 2024-10-07 | by ( ) www.cnbc.com   time to read: +2 min
Oil prices pared gains in early trade on Monday after charting their biggest weekly rise in over a year on Friday amid mounting threats of a region-wide war in the Middle East. "However, the oil market will likely continue to face upside pressure due to fears of Israel's retaliation response to Iran. Despite the rally in oil prices last week, the impact of this conflict on oil supply will be relatively small, said ANZ Research in a Monday client note. "We see a direct attack on Iran's oil facilities as the least likely response among Israel's options. "Moreover, we have seen a diminished impact of geopolitical events on oil supply.
Persons: Brent, Tina Teng Organizations: Brent, . West Texas, ANZ Research, OPEC Locations: Iran, Israel, Lebanon, Gaza, Haifa, Russia, Kazakhstan, OPEC
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRoom for Chinese yuan appreciation if equity flows return to China: TD SecuritiesAlex Loo of TD Securities expects China to deliver a "pretty substantial fiscal package" and explains why he's turned bullish on the country's currency.
Persons: Alex Loo, he's, bullish Organizations: TD Securities Locations: China
Emerging markets on the MSCI list include Brazil, China, Greece, India, Indonesia, South Korea, Malaysia, Mexico, the Philippines, Qatar and Thailand. One fund manager, however, is looking outside that list, at an "up and coming emerging market and the next dragon in Asia" — Vietnam. "It's in a sweet spot in terms of economic growth, urbanization, labor market participation and having the right government policy. In spite of its strong growth, Vietnam is still not part of the MSCI Emerging Markets Index. A 'big theme' Mafli is betting on "high growth sectors" and stocks "doing well in underperforming sectors."
Persons: Li Mafli, Eric Sturdza, Mafli —, Mafli Organizations: Eric Sturdza Investments, Vietnam Prosperity, CNBC Pro, General Statistics Office, International Monetary Fund, FTSE, Index, Mobile World Investment, Infrastructure Locations: Brazil, China, Greece, India, Indonesia, South Korea, Malaysia, Mexico, Philippines, Qatar, Thailand, Asia, Vietnam
China's stock investors and watchers are discussing the markets before they reopen. AdvertisementChina's investors are looking forward to some stock market action after the country's weeklong National Day break. AdvertisementChina's domestic stock markets are dominated by retail traders, who number over 200 million and account for about 70% of trading volume. Goldman Sachs, for one, has upgraded China's stocks to overweight and is forecasting another 15% to 20% upside to Chinese shares. China's stimulus measures include interest rate cuts and 800 billion yuan, or about $114 billion, to support the domestic stock markets.
Persons: , Goldman Sachs Organizations: Service, Twitter, Weibo, Shanghai Stock Exchange Locations: China, Mainland, Beijing, Weibo, Hong Kong, Shanghai, Shenzhen
Chinese chip stocks gained $13 billion on Monday, led by a 22% rise in shares of SMIC. The gains come as traders expect Beijing to extend stimulus support to the semiconductor industry. AdvertisementChinese chip stocks soared Monday, fueled by hopes that Beijing's next round of stimulus will boost the country's semiconductor industry. The new round of stimulus could include support for its chip companies. China first announced its stimulus measures last month, pledging to rescue the economy from a struggling property sector and weak domestic demand.
Persons: , Beijing's Organizations: Service, Semiconductor Manufacturing International Corp, CSI Locations: SMIC, Beijing, China, Hong Kong
After all of these years, after all of the rather incredible rallies and gains in the stock market from so many groups, the typical morning still starts with a bevy of negativity. We hear about OpenAI and its brilliant $167 billion valuation , but we don't see any stock available to public-market investors. I have been furious at myself for thinking the Chinese government couldn't do anything about the country's struggling stock market. The Chinese stock market has been rallying nicely since the stimulus announcements. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.
Persons: , Elon Musk, he's, isn't, Carl Quintanilla, David Tepper, holler, That's, that's, Jim Cramer's, Jim Cramer, Jim, Spencer Platt Organizations: Federal Reserve, Walmart, Fed, SpaceX, Nike, Walgreens, CVS Health, Club, GE Healthcare, Wynn Resorts, Chinese Communist Party, Apple, PDD Holdings, JD.com, Baidu, Diamondback Energy, Exxon Mobil, CNBC, New York Stock Exchange, Getty Locations: U.S, China, , New York City
Traffic outside the Central Bank of Brazil headquarters in Brasilia, Brazil, on Monday, June 17, 2024. Marçal, an anti-establishment political novice who has surged in the polls with his vitriolic attacks on adversaries, ran a social media campaign with little funding and no TV time. Polls showed that candidates linked to Lula are facing trouble as the president's popularity has slipped in his third non-consecutive term. On the right, candidates associated with hard-right former President Jair Bolsonaro have fared better, even though he was banned from seeking elected office until 2030 for his unfounded attacks on Brazil's voting system. "The anti-establishment views of the right have become the trend," said political risk expert Creomar de Souza.
Persons: Ricardo Nunes, Pablo Marçal, Guilherme Boulos, Luiz Inacio Lula da Silva, pollster Datafolha, Lula, Jair Bolsonaro, Creomar de Souza, Andre Cesar, Bolsonaro, Nunes, Marçal Organizations: Central Bank of, Workers Party, Lula's Workers Party, Sao Locations: Central Bank of Brazil, Brasilia, Brazil, Sao Paulo, Brazil's
Yet the concept, which eventually became Raising Cane's Chicken Fingers, propelled Graves to his debut Tuesday on the Forbes 400, a ranking of America's richest people. He's reportedly the country's 107th-richest person, with an estimated net worth of $9.5 billion, largely driven by his ownership stake in Raising Cane's. Graves owns more than 90 percent of the company, and has no plans to take it public or sell his stake to private investors, he said. "I want my kids in the business to be able to carry our values on after their mom and I are gone," said Graves. "They can turn this into a worldwide business and continue to grow."
Persons: Todd Graves, Craig Silvey, Graves, He's, Cane's —, Cane — Organizations: LSU, Forbes, Nicholls State University, Small Business Administration, CNBC Locations: Louisiana, Cane's, California, Baton Rouge , Louisiana, Alaska —
Harris has proposed expanding the small business tax credit from $5,000 to $50,000. She even mentioned a key proposal in her opening answer at the presidential debate: expand the small business tax credit 10-fold, from $5,000 to $50,000. Theodos called small businesses "essential" for the US economy, and Buttle said they're a crucial source of innovation. The Pew Research study found 61% of small businesses are majority-owned by men and, as of 2021, 85% were majority-white owned. "We're talking about community businesses, micro-businesses, businesses where the founder doesn't have as much net worth," Theodos told BI.
Persons: Harris, , Patricia Oswlad, Oswald, Kamala Harris, Rhett Buttle, Joe Biden, Taylor McCleneghan, Danielle Parhizkaran, Brett Theodos, Garret Watson, Theodos, Buttle, McCleneghan, Watson, Chip Somodevilla, they're, Mary Hansen, Francine Orr, doesn't Organizations: Service, Business, Brisa Systems, Small Business, Small, Boston Globe, Getty, Urban Institute, Foundation, Tax Foundation, Pew Research Center, American University, Los Angeles Times, Congress, Pew Research Locations: Chicago
As Miss America and a US Air Force officer, she aims to dispel long-held misconceptions about both. Madison Marsh, a US Air Force second lieutenant and Miss America 2024, is on a mission to show that the two worlds are not so different. "Now I'm getting to change the idea of showing people that the Air Force is rebranding itself. And in her 10-month reign as Miss America, Marsh said she is already seeing an impact. AdvertisementBeyond pageantry and military, Marsh champions awareness and advocacy for pancreatic cancer, the disease that took her mother Whitney's life when Madison was just 17.
Persons: Madison, , Madison Marsh, Marsh, she'd, Joe Biden, Miriam Thurber, Miriam Thurber Marsh, Alma Cooper, haven't, Cooper, Whitney, she's Organizations: Miss America, US Air Force, Service, Business, Air Force, Miss, . US Air Force, US Air Force Academy, Nationals, Air Force Academy, Royal Air Force, Academy, US Army, Miss USA, Army, Whitney Marsh Foundation, Harvard Kennedy School Locations: Miss America, Normandy, Fort Smith , Arkansas, United Kingdom, France, America,
You may have noticed how desperate some politicians' fundraising appeals can sound. AdvertisementIf you're a person who's at all involved in politics, from the most seasoned operative to the casual observer, you're undoubtedly familiar — and perhaps a bit annoyed — with the desperate fundraising appeals uttered in the voice of politicians. AdvertisementWe weren’t quite able to reach our most recent re-election campaign fundraising goal. If the candidate is inspiring to voters on their own, there's less need to scare people into sending them money. "There's an assumption that the more desperate the appeals become the better the fundraising works," Pennington said.
Persons: , Nancy Pelosi's, It's, I’m, Tim Kaine, Mike Nellis, Barack Obama's, Ted Cruz’s, it’s, Donald Trump's, I've, Kenneth Pennington, There's, Nellis, Pennington, aren't, that's, John Hall, Kamala Harris, Joe Biden Organizations: Service, Democratic, Citizens United, FEC, Bloomberg, Tech, Republicans, Washington Post, Trump, RNC
The move could drive oil prices up further, creating a headache for Harris' campaign. If Israel did strike Iran's oil, it would likely have two main targets. Then, on Thursday, he said the US and Israel were discussing whether the US would support Israel striking Iran's oil facilities. Biden has indicated there are conversations between the US and Israel about whether Iran's oil facilities are a legitimate retaliatory strike option. Back in September, global oil prices fell to the lowest level in almost three years, and the US has seen a historic year of oil production.
Persons: Israel, Harris, , Kamala Harris, Patrick De Haan, De Haan, Clay Seigle, Siegle, ATTA KENARE, Kit Haines, Haines, Hassan Nasrallah, Ismail Haniyeh, Biden, Benjamin Netanyahu, Netanyahu, Wisam, Seigle, Joe Biden, backtrack, Michael M, Nicholas Carl, there's, Privately, JIM WATSON Organizations: Service, Incumbents, Getty, Analysts, Energy, Wednesday, National Iranian Tanker Company, American Enterprise, Business, Publicly Locations: Iran, Israel, Ukraine, Tehran, Yemen, AFP, Hormuz, Saudi, Anadolu, Russia
It's been quite a year for NBA star Karl-Anthony Towns. This week it became official that Towns, the Minnesota Timberwolves 7-foot center/forward, will be playing for the New York Knicks. And in May, KAT — as he’s known — was named the 2023-24 Kareem Abdul-Jabbar Social Justice Champion “for his voting rights advocacy as well as his work across the justice and education systems,” the NBA said. Towns’ advocacy helped pass legislation ensuring formerly incarcerated people in Minnesota could exercise their right to vote. But it has all come full circle since he has represented the Dominican Republic in several international basketball championships, including the FIBA Basketball World Cup.
Persons: It's, Karl, Anthony Towns, KAT, Kareem Abdul, Jabbar, Champion “, Towns, , he’d Organizations: NBA, Minnesota Timberwolves, New York Knicks, Jabbar Social, Knicks, Dominican, GO Ministries, , New York Yankees, FIBA Basketball, NBC Locations: Minnesota, Towns, , Dominican Republic, Caribbean
And Kim Kardashian advocates for the release of the Menendez brothers. Chris Kofinis, a Democratic strategist, said Harris’ campaign is banking on Trump’s weaknesses being enough to carry Harris to victory. as the Harris campaign works to engage a group of voters threatening to defect over the Biden administration’s handling of the situation in the Middle East. People who are allergic to bees are usually allergic to yellow jackets as well, though the scale of the reaction may differ. Meanwhile, prosecutors in California said they are reviewing the Menendez brothers’ convictions to determine whether they should be resentenced and potentially released.
Persons: Kamala Harris, Kim Kardashian, Menendez, , Harris, Justin Sullivan, Donald Trump, Harris ’, she’s, , , Steve Shurtleff, Chris Kofinis, ” Harris, Tim Walz, Trump, Walz, Barack Obama, Hezbollah’s, Hezbollah's, Hashem Safieddine, Ayatollah Ali Khamenei, Hassan Nasrallah, Chris Hayes, L.A, Lyle, Erik, ” Kardashian, Erik Menendez, Netflix’s, Read, George Gascón, Jack Smith’s, Smith, Jeff Greenberg, Helene, Alexandra Byrne, — Rich Bellis, Elizabeth Robinson Organizations: Cochise College Douglas Campus, Democratic, New, CBS, Minnesota Gov, Gov, Biden, East, NBC News, IDF, North Carolina State University, NBC, Netflix, Arts, Universal, Getty, River Arts Locations: North Carolina, Douglas , Arizona, New Hampshire, Butler , Pennsylvania, Pittsburgh, Beirut, Israel, Lebanon, Syria, Iran, Carolina, Hurricane, Beverly Hills , California, California, Colorado, , Asheville, N.C
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