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In Saudi Arabia's northwestern desert, a sprawling construction site replete with cranes and pile drivers sits encircled by a recently-built road. A pair of tracks cuts through the site like deep gashes through the sand, comprising the spine of what planners say will be a high-speed rail system.
Through its state-owned mining company Ma’aden and overseas investment vehicle Manara Minerals, Saudi Arabia earlier this year signed memorandums of understanding with several mineral-rich African nations, including the Democratic Republic of Congo, Egypt, and Morocco. It has signed similar agreements with Russia and Turkey.
A social media post by tech magnate Elon Musk declaring that Singapore is “going extinct” has struck a nerve in the city state, where demographic challenges including record-low fertility rates are testing its policies to sustain economic growth.
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Singapore-based online marketplace Carousell has laid off 76 employees, or 7 per cent of its workforce, reflecting a downsizing trend in the tech sector that analysts attribute to overexpansion and its vulnerability during an economic downturn.
Oil major Shell and Norway's Equinor on Thursday announced plans to combine their British offshore oil and gas assets to create a jointly owned energy company.
DETROIT – General Motors expects a restructuring of its joint venture operations with SAIC Motor Corp. in China to cost more than $5 billion in non-cash charges and writedowns, the Detroit automaker disclosed in a federal filing Wednesday morning.
Bank of England Governor Andrew Bailey on Wednesday signaled that the U.K. could be on track for four interest rate cuts over the next year, if inflation continues on a downward path.
Norway has shelved plans to open a vast ocean area at the bottom of the Arctic for commercial-scale deep-sea mining.