Azerbaijani gas to be delivered to Syria under new swap deal
Azerbaijan will begin supplying 6 million cubic metres of gas to Syria this week under a swap deal with Türkiye, officials said, aiming to boost elec...
Unexpected weakness in Germany's manufacturing orders in May signals ongoing uncertainty in industrial demand, despite a yearly rise and sector-specific gains.
Germany’s new factory orders declined by 1.4% month-on-month in May, exceeding market expectations of a 0.2% drop, according to provisional figures published by the Federal Statistical Office (Destatis) on Friday.
Excluding large-scale orders, the monthly fall was steeper at 3.1%, underlining broader weakness in manufacturing demand.
The downturn was led by a significant 17.7% fall in new orders in the manufacture of computer, electronic and optical products. Other sectors that contributed to the decline included electrical equipment and basic metals, which saw order reductions of 6.2% and 5.1%, respectively.
Some sectors, however, reported growth. Orders for fabricated metal products surged by 18.2%, while the manufacture of other transport equipment saw a 6.8% increase, helping to offset broader declines.
By category, capital goods orders dropped by 0.9%, and intermediate goods fell by 3.4%, while consumer goods bucked the trend with a 3.1% monthly increase.
Despite the monthly contraction, factory orders in May were up 5.3% year-on-year. Additionally, Destatis revised April’s monthly figure upwards to a 1.6% gain from the previously reported 0.6%, citing late data submissions from the automotive sector.
The world’s biggest dance music festival faces an unexpected setback as a fire destroys its main stage, prompting a last-minute response from organisers determined to keep the party alive in Boom, Belgium.
Australian researchers have created a groundbreaking “biological AI” platform that could revolutionise drug discovery by rapidly evolving molecules within mammalian cells.
Australian researchers have pioneered a low-cost and scalable plasma-based method to produce ammonia gas directly from air, offering a green alternative to the traditional fossil fuel-dependent Haber-Bosch process.
A series of earthquakes have struck Guatemala on Tuesday afternoon, leading authorities to advise residents to evacuate from buildings as a precaution against possible aftershocks.
'Superman' continued to dominate the summer box office, pulling in another $57.25 million in its second weekend, as theatres welcome a wave of blockbuster competition following a challenging few years for the film industry.
Adidas saw its shares drop 7.5% in early Wednesday trading after second-quarter sales came in below expectations and the company warned of an added €200 million ($231 million) cost burden from new U.S. tariffs in the second half of 2024.
Spotify projected third-quarter profit below market expectations on Tuesday, citing increased tax expenses linked to employee compensation, despite strong demand for its premium subscription services.
Microsoft is reportedly in advanced negotiations to revise its agreement with OpenAI, aiming to maintain access to the startup’s cutting-edge AI technology even if OpenAI achieves artificial general intelligence (AGI), according to Bloomberg News, which cited sources familiar with the matter.
Türkiye is pressing Iraq to include a clause in a new energy deal that guarantees full utilization of the Kirkuk-Ceyhan oil pipeline, which has remained idle since 2023 due to legal disputes.
European automakers including BMW and Mercedes-Benz are set to gain €4 billion from a new EU-U.S. trade agreement that lowers tariffs on vehicle exports. The move offers relief in a key market but still leaves duties higher than pre-2024 levels.
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