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Vietnam faces US$3bil annual crop losses from rising saltwater
Damage from saltwater would likely centre on the Mekong Delta, a source of food and income for millions of Vietnamese. (AFP pic) HANOI: Vietnam faces nearly US$3 billion a year in crop losses as more saltwater seeps into arable land, state media reported today, citing new research. The damage would likely centre on the Mekong Delta region, known as ‘Vietnam’s rice bowl’ because it provides food and livelihoods for tens […]
Gemini’s flawed racial AI images seen as warning of tech titans’ power
With Gemini, Google engineers tried to rebalance the algorithms to provide results better reflecting human diversity, but the effort backfired. (AP pic) AUSTIN: For people at a trend-setting tech festival here, the scandal that erupted after Google’s Gemini chatbot cranked out images of black and Asian Nazi soldiers was seen as a warning about the power artificial intelligence can give tech titans. Google’s CEO Sundar Pichai last month slammed as […]
Meta being investigated over role in illicit drug sales, says WSJ
Meta is reportedly joining the US state department, the UN, and Snapchat to disrupt the online sale of synthetic drugs. (AP pic) NEW YORK: US authorities are investigating Meta over its role in the illicit sale of medications, The Wall Street Journal reported on Saturday. Citing documents and people close to the matter, the American business daily said prosecutors in the southern US state of Virginia are looking into whether […]
Palm islands developer Nakheel, Meydan merge under Dubai Holding
Dubai real estate developer Nakheel recently secured new financing for new waterfront projects. (Visit Dubai pic) DUBAI: Dubai real estate developers Nakheel and Meydan will merge and become part of Dubai Holding, UAE’s WAM state news agency reported today. Sheikh Mohammed bin Rashid Al Maktoum, Dubai’s ruler, directed the two to merge under his investment vehicle Dubai Holding. “The goal is to create a more financially efficient entity, owning assets […]
Citigroup probes senior IPO banker over bullying claims
Citigroup is also defending itself against a separate lawsuit that alleges workplace harassment in New York. (AFP pic) NEW YORK: Citigroup is investigating workplace harassment allegations made by at least one employee against a senior US banker who works on initial public offerings, four people with direct knowledge of the matter said. Edward Ruff, a managing director in Citi’s equity capital markets group in New York, has been on leave […]
Ringgit closes lower alongside regional currencies
KUALA LUMPUR: The ringgit ended the week easier against the greenback, alongside regional currencies, as the US producer price index (PPI) data came in higher than expected, pushing back expectations of an interest rate cut in the US in June. Bank Muamalat Malaysia Bhd chief economist Afzanizam Rashid said that the Korean won, which depreciated by 0.91%, led the regional decline, followed by the ringgit, the Philippine peso, and the […]
McDonald’s hit by ordering system failure at Asian outlets
McDonald’s temporarily suspended operations due to ordering issues across stores, mobile devices, and kiosks following a system outage. (AFP pic) TOKYO: Hungry McDonald’s customers in parts of Asia had trouble ordering at stores, on cellphones and at electronic kiosks on Friday after a system outage. In Japan, the US fast food giant said on X, formerly Twitter, that it was “currently experiencing a system failure” and “temporarily suspending operation at […]
Bitcoin retreats from record high as ‘bubble’ talk grows louder
Both Bitcoin and a benchmark index of the top 100 tokens, including Ether, BNB, and Solana, have increased by approximately 60% year-to-date. (Unsplash pic) HONG KONG: Bitcoin retreated from its latest record high amid an intensifying debate about whether the latest bull run in cryptocurrencies is evidence of speculative froth in global markets. The largest digital asset dropped about 3% to US$68,631 in early trading after setting an all-time peak […]
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