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US nominates former Mastercard CEO, Ajay Banga, to lead World Bank
US President Joe Biden nominated former Mastercard CEO Ajay Banga to lead the World Bank, crediting his experience with global challenges such as climate change. David Malpass, a Trump…
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Winter storm shuts down parts of the northern U.S.
The northern plains of the USA are largely shutting down ahead of a major winter storm that could dump up to 2 feet of snow in some areas. This storm will be accompanied by strong winds…
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Aid for solar, wind industries sought by German economy minister
After talks with industry representatives, Economics Minister Robert Habeck said in Berlin that Germany should increase state support for wind turbines and solar plants. "We have to…
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EDGE introduces 11 autonomous, unmanned solutions at IDEX 2023
EDGE today unveiled 11 new innovative unmanned and autonomous solutions with enhanced capabilities for application across the air, land, and maritime domains on the opening day of the…
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$150 million EIB investment to create 8,000 technology jobs in ME
Through its new dedicated development finance arm, EIB Global, the European Investment Bank (EIB) will contribute $27 million to the Middle East Venture Fund IV (MEVF IV). Middle East…
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Adidas shares plunge after warning about unsold Yeezys
By 2023, Adidas could lose 1.2 billion euros ($1.3 billion) in revenue if it cannot sell its existing Yeezy stock. Adidas shares fell 11% around 9 a.m. London time following the news.…
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CEO of JPMorgan says it is too soon to declare victory over inflation
JPMorgan Chase & Co.'s CEO Jamie Dimon cautioned against declaring victory too soon against inflation, warning the Federal Reserve might raise interest rates above 5% if prices…
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Musk needs 10 million more Twitter blue subscribers to pay off his loans
Since taking over Twitter, the world's second-richest person Elon Musk has struggled to sell subscriptions. Musk took over Twitter in October, but subscriptions have been slow. He…
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There will be about 6,650 job cuts at Dell
Bloomberg News reported on Monday that Dell Technologies would eliminate about 6,650 jobs, or about 5% of its global workforce. This is as a result of the falling demand for personal…
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Lebanon devalues its currency by 90 percent, market rate is much lower
According to central bank governor Riad Salameh, Lebanon will adopt a new official exchange rate of 15,000 pounds per U.S. dollar on Feb. 1. This represents a 90% reduction from the…
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