The Global Economic Prospects forecasts that 2023 will see the lowest growth rate in three decades, with the exceptions of 2009 (the global financial crisis) and 2020 (the COVID-19 pandemic). Moreover, the recently released Falling Long-Term Growth Prospects has warned that the slump in the global economy’s long-term growth rate can risk a “lost decade,” limiting countries’ abilities to […]
Trade liberalization has helped Mexico become an export superstar. Exports of goods and services as a share of GDP more than doubled to 41 percent from 1994 to 2021. In the same period, the value of Mexico’s exports in constant dollars rose more than fourfold to US$465 billion (Figure 1) – a pace that compares favorably with […]
Two years ago, a top logistics company in the central business district of Dar es Salaam, Tanzania’s commercial capital, disqualified Olivia Massawe for a job interview because she was 45 minutes late. Olivia says she would have arrived on time had it not been for the long queue to buy a ticket at Kimara station […]
Taiwan’s Foxconn, the world’s largest contract electronics maker and major iPhone assembler for Apple Inc, said on Wednesday that revenue in the first quarter rose 3.9% year-on-year, but that sales for the current quarter would be down. Revenue last month reached the third highest on record for March at T$400.3 billion ($13.14 billion), though that […]
Apple Inc is set to open its first official retail store in India’s financial hub of Mumbai, the iPhone maker said on Wednesday. The Cupertino, California-based company launched an online retail store in India in 2020. Its 2021 plans for the launch of an offline retail store in the country were delayed due to the COVID-19 pandemic. Apple products have […]
Germany’s antitrust regulator has opened the door for measures to curb Apple after deciding that the U.S. tech giant’s market dominance makes it worthy of such measures, the body said in a statement on Wednesday. The Bundeskartellamt regulator has designated Apple a “company of paramount significance for competition across markets”, it said. “The company is – […]
EU countries and lawmakers are likely to clinch a deal on a multi-billion euro plan to boost the bloc’s semiconductor industry on April 18, sources with direct knowledge of the matter said on Wednesday. The European Commission announced the Chips Act last year in a bid to cut EU reliance on U.S. and Asian semiconductors following global […]
About 5,000 General Motors Co salaried workers took buyouts to leave the company, putting the company well on the way to hitting a $2 billion cost-cutting target, the automaker’s chief financial officer said Tuesday. GM shares were trading down 2.1% in afternoon trading, even though CFO Paul Jacobson said demand for GM’s trucks and SUVs remains […]
– FedEx Corp said on Wednesday it will consolidate its separate delivery companies into a single entity, as the group slims its bloated infrastructure to compete better with United Parcel Service and Amazon. 0The move to integrate FedEx Ground, its outsourced package delivery arm, with the FedEx Express overnight air delivery business was announced almost a year […]
Facebook-owner Meta published an artificial intelligence model on Wednesday that can pick out individual objects from within an image, along with a dataset of image annotations that it said was the largest ever of its kind. The company’s research division said in a blog post that its Segment Anything Model, or SAM, could identify objects in […]
