Khankendi to host 17th ECO summit
Azerbaijan is an active member of the Economic Cooperation Organisation (ECO), and hosting the 17th ECO Summit in the country highlights its growing r...
U.S. President Donald Trump announced on Tuesday that he warned Taiwan Semiconductor Manufacturing Company (TSMC) that it would incur a tax penalty of up to 100% if it fails to build its new factories in the United States.
“TSMC, I gave them no money … all I did was say, if you don't build your plant here, you're going to pay a big tax,” Trump said during his remarks. TSMC declined to comment on his statement.
In March, TSMC, the world's largest contract chipmaker, announced plans to invest an additional $100 billion in the United States, which would include the construction of five new chip facilities over the coming years. This move is seen as a significant boost for domestic semiconductor production.
Earlier on Tuesday, Reuters reported that TSMC could be facing a penalty exceeding $1 billion as part of a U.S. export control investigation. The probe centers on a chip produced by TSMC that was later incorporated into an AI processor used by Huawei Technologies.
Trump’s remarks underscore his administration’s broader strategy to incentivize U.S. manufacturing and reduce reliance on foreign production amid escalating trade tensions and concerns over national security. The criticism of previous administrations and strong stance on domestic industry highlight the current U.S. policy to ensure that key technology sectors remain under American control.
The U.S. economy faces a 40% risk of recession in the second half of 2025, JP Morgan analysts said on Wednesday, citing rising tariffs and stagflation concerns.
The United States has rescinded licensing restrictions on ethane exports to China, allowing shipments to resume after a temporary halt and signalling progress in efforts to ease recent trade tensions.
A magnitude 5.5 earthquake struck off Japan’s Tokara Islands on Wednesday, with no tsunami warning issued but residents advised to remain vigilant.
The European Commission is set to propose allowing carbon credits from other countries to count towards the EU’s 2040 climate target, according to a leaked internal document.
China has ramped up efforts to protect communities impacted by flood control measures, introducing stronger compensation policies and direct aid from the central government.
At least seven people remain missing following a massive explosion at a fireworks warehouse in the town of Esparto, Northern California, according to a report by NBC News citing local officials.
A delegation from Azerbaijan, led by MP Qaya Məmmədov, took part in the annual session of the Organisation for Security and Cooperation in Europe Parliamentary Assembly (OSCE PA), held from 28 June to 3 July in Porto, Portugal.
Chinese scientists have unveiled PlantGPT, the first large language model-based artificial intelligence designed specifically for plant functional genomics.
UN Secretary-General António Guterres on Thursday warned that the humanitarian situation in the Gaza Strip has reached a critical level and called for an immediate and lasting ceasefire. He emphasised that vital infrastructure is on the verge of collapse due to a severe fuel shortage.
The US House of Representatives approved a significant tax-cut and spending bill on Thursday, passing it by a narrow margin of 218 to 214. The legislation has now been sent to President Donald Trump for his signature.
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