Author: Euronews

Saudi Arabia’s new investment firm Alat announced four partnerships with global companies as the country makes efforts to turn into a technology manufacturing hub. ADVERTISEMENTSaudi Arabia’s new $100 billion investment firm Alat has announced a series of deals with global heavy-weight tech companies, including SoftBank Group and a Chinese surveillance equipment maker Dahua Technology. Alat, a Public Investment Fund company, is one of the latest assets for Saudi Arabia to create a world-class sustainable manufacturing hub in the Kingdom of Saudi Arabia. The first wave of investments included deals with Carrier Corporation and Tahakom, too.”Alat, a PIF company, will deliver sustainable manufacturing to help these global companies reduce…

In this episode of Smart Regions, Euronews Correspondent Aurora Velez travels to Ptuj to see how European funds have helped revitalise a decaying town centre, transforming it into a social hub boasting classic and modern design. The ancient town of Ptuj, in northeast Slovenia, is enjoying a new lease of life. Set on the Drava River, the old Roman settlement oozes charm and timeless elegance but after years of neglect, the industrial heart of the town had fallen into despair.  Home to approximately 23,000 people, it is now a hive of cultural and professional activity.Thanks to donations totalling €4.9 million, the old…

Nvidia’s earnings report exceeded forecasts, with a 22% quarterly and 265% yearly revenue spike to $22.1 billion (€20.46 billion) on the heels of AI-driven growth, driving shares up by 7% post-announcement. ADVERTISEMENTIn a much-anticipated earnings report, Nvidia shattered expectations, delivering a set of results that left analysts and investors astounded by the chipmaker’s staggering financial performance.The company’s quarterly revenue soared to an unprecedented $22.1 billion (€20.46 billion), a 22% increase from the previous quarter and an astonishing 265% rise year-over-year. This figure surpassed the median forecast by Wall Street analysts, which was pegged at $20.395 billion (€18.88 billion).For the fiscal…

Poor understanding of personal budgeting and financial markets has both social and economic costs, officials believe. ADVERTISEMENTEU officials hope that boosting financial literacy will have an economic and social payoff, after a landmark survey found many lag behind in basic budget knowhow.Ministers gather this week in Ghent, Belgium to discuss financial education – but critics worry it’s a distraction from their main task of ensuring a safe financial system.“Financial literacy skills are just about OK, they’re not great,” the European Commission’s Mairead McGuinness told Euronews.She’s still digesting a 2023 study which found just 18% of EU adults have high financial…

While farmers across Europe protest high costs and foreign competition, agribusiness investors continue to fortify their positions in the Spanish and European agricultural sector. ADVERTISEMENTThe European countryside has become one of the most dynamic and profitable sectors on the continent for investment funds and large agribusiness companies.With returns of over 15%, investors have found a haven in agriculture, safe from the economic and geopolitical uncertainties that have shaken the world since the COVID-19 pandemic, the Russian invasion of Ukraine and the disruption of global trade routes.As farmers’ protests continue across Europe, Carlos Fernández, a farmer in Seseña in Toledo, central…

Recent research has shown that cold temperatures can cause us to get sick by damaging the immune response in our noses. ADVERTISEMENTThe moment the temperature drops, it might seem like everyone around you is suddenly sneezing and coughing.While bacteria and viruses are present all year round, winter is considered the season when people are more likely to catch the common cold or flu. But why? Is the cold really to blame?In 2022, scientists discovered evidence that people do indeed contract more respiratory diseases when it’s cold. The main reason is that cold air damages the immune response in our noses, creating a…

Car buyers may have been charged unfair interest rates on motor loans, according to the UK’s financial regulator. ADVERTISEMENTPeople in the UK who bought a car using a loan between 6 April 2007 and 27 January 2021 could have been charged unfair rates.That’s the verdict from the Financial Conduct Authority (FCA), who have launched an investigation into the matter.The inquiry, set to be concluded in September, will determine whether banks knowingly deceived customers through discretionary commission deals.This means that brokers, or car dealers, were allowed to adjust the interest rates on loans offered towards vehicles, a practice that was banned…

Brussels efforts to coax back wayward members like Poland and Hungary are far from foolproof, the budget watchdog said. ADVERTISEMENTA deal to offer Hungarian Prime Minister Viktor Orbán EU funds as part of a deal over support for Ukraine was slammed by the bloc’s budget watchdog in a report released today (22 February).Brussels should enforce the rule of law based on sound analysis, not political horse-trading, the European Court of Auditors (ECA) said.The European Commission has long had significant concerns over judicial independence in Poland and Hungary, but new rules it has introduced are far from watertight and prone to…

The share price of HSBC Holdings slumped by more than 8% in London as the UK’s biggest bank left investors disappointed with the profits reported for the final three months, and for all of 2023. ADVERTISEMENTPretax profit for the final three months of the year fell to $1 billion (€920 million) from more than $5 billion (€4.62 billion) the previous year, mainly due to two major expenses; $3 billion (€2.77 billion) to pay for an impairment charge relating to the investment in the Chinese Bank of Communications Co. and another $2 billion (€1.85 billion) relating to the sale of the lender’s retail…

Ursula von der Leyen has ruled out working with political parties that are “Putin’s friends” if she is re-elected president of the European Commission. ADVERTISEMENTHer comments come as opinion polls project a significant, possibly seismic surge of hard-right and far-right parties after the June elections to the European Parliament. Von der Leyen’s first tenure has been supported by a grand coalition of conservatives, liberals and socialists that is all but guaranteed to shrink in the next legislature as Eurosceptic forces make inroads and gain influence over the political agenda.”I work with pro-European, pro-NATO, pro-Ukrainian, clearly supporters of our democratic values…