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Self-Driving Car Startup Wayve Taps Microsoft For 'Supercomputer Muscle'
Wayve will use supercomputer infrastructure designed for the firm by its investor Microsoft to process vast amounts of data as it develops machine learning-based models for self-driving cars.
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Pakistan Hikes Fuel Prices To Unlock IMF Funding
The price hike has been the main issue between Pakistan and the IMF as part of an agreement to withdraw subsidies in oil and power sectors to reduce the fiscal deficit before the annual budget is presented next month.
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Hyundai Motor Group To Invest $50 Billion In S.Korea Through 2025
Hyundai Motor Group plans to invest 63 trillion won ($49.86 billion) in South Korea through 2025 to strengthen its competitiveness in different business fields
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Battery-Powered Electric Vehicles Nearly Double EU Market Share In Q1 - Report
Battery-powered electric vehicles (BEVs) almost doubled their market share in the European Union during the first quarter.
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U.S. Seizes Iranian Oil Cargo Near Greek Island - Sources
The vessel's Russian owner Transmorflot was subsequently designated on May 8. The tanker, renamed Lana on March 1 and flying the Iranian flag since May 1, has remained near Greek waters since then. It was previously Russian-flagged.
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Twitter Keeps Musk Ally Durban On Board, Rejects Resignation
Durban is an ally of Elon Musk, who has offered to take Twitter private in a $44 billion deal.
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Iran Seizes Two Greek Tankers Amid Row Over U.S Oil Grab
Iranian forces seized two Greek tankers in the Gulf on Friday.
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EU's Borrell Hopeful Of Deal On Russian Oil Ban
European Union members should be able to reach an agreement on a next sanctions package against Russia.
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World Stocks Eye First Weekly Gain In Eight Weeks, Dollar Hits 1-Month Low
World stocks were heading for their first weekly gain in eight weeks on Friday on a more upbeat earnings view.
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Global Firms Warn Of Sluggish China Demand Due To Lengthy COVID Curbs
Car sales in the world's largest auto market have slowed dramatically, gamers are buying fewer consoles, and people are unwilling to replace their existing smartphones, laptops and TVs, as prolonged COVID curbs crimp spending power and put more people out of jobs.
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India Asks GAIL To Import LNG To Meet Rising City Gas Demand
India has mandated state-run GAIL (India) Ltd to import gas and buy from local difficult fields to meet growing demand growth from household and transport sectors as cheaper supplies.
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Oil Falls 2.5% As U.S. Refiners Ramp Up Output, Equities Retreat
Oil prices fell 2.5% on Wednesday, reversing early gains as traders grew less worried about a supply crunch after government data showed U.S. refiners ramped up output, and as crude futures followed Wall Street lower.
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Hungary Must Work With EU On Russian Oil Embargo - German Economy Minister
Among the 27 EU member states, Hungary is the most vocal critic of the planned embargo on Russian oil.
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Indian Oil Minister Says Oil At $110 A Barrel Not Sustainable
India's Oil Minister Hardeep Singh Puri told the World Economic Forum in Davos on Tuesday that a crude oil price of $110 a barrel was not sustainable
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Russian Oil's Achilles' Heel: Insurance
Russia has so far deflected much of the impact of sanctions on its oil trade but the insurance industry threatens to throw a spanner in the works unless Moscow and its customers can plug a gap left by Western underwriters.
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Taiwan's Delta Electronics Expanding 'Everywhere' on EV, Server Boom
More traditional automakers such as Ford Motor Co, not just Tesla, are seeing their EV sales soar, a trend that will continue to Delta's benefit, he added.
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Asia Shares Join Global Rebound On Easing Of Fed Hike Fears, China Tech Boost
Asian shares on Friday extended overnight global gains thanks to strong results from regional tech firms and U.S. retailers
Read More →Supply Chains Snarl Taiwan Tech Firms As Some Strive To Meet Demand
Taiwanese tech suppliers are suffering from supply constraints, even for such things as packing materials, as some struggle to take advantage of soaring demand.
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Faulty Battery Cells, Modules Likely Caused e-Scooter Fire In India, Initial Probe Finds
India wants e-scooters and e-bikes to make up 80% of total two-wheeler sales by 2030, from about 2% today.
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Toyota Warns Profit To Skid 20% As Raw Materials Costs Pile Up
Toyota Motor warned "unprecedented" hikes in raw material costs could slice a fifth off full-year profit, a clear sign the world's top automaker by sales can no longer shrug off the supply-chain crunch that has roiled the global industry.
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