Author: i2wtc
A Rolls-Royce aircraft engine on view during the Hannover Messe industrial trade fair on March 31, 2025.Ronny Hartmann | Afp | Getty ImagesBritish aerospace and defense company Rolls-Royce announced it is investing $75 million to expand its engine manufacturing facility in Aiken, South Carolina.The investment will boost output of mtu Series 4000 diesel engines, which are used in backup power systems for data centers and other critical infrastructures.”The increased investment strengthens our ability to serve our U.S. customers — especially in the fast-growing American data center industry,” Adam Wood, managing director for Rolls-Royce’s power systems division in America, said in…
ISLAMABAD: The Supreme Court has ruled that the Federal Board of Revenue (FBR) must preserve the dignity of taxpayers while undertaking tax recovery measures. A nine-page judgment authored by Justice Ayesha Malik, dismissing FBR’s petition against a high court order, noted that a notice that seeks recovery on the same date as its issuance would defeat the very objective of setting out a date and would render the legal safeguard meaningless. “Yet another aspect that is of significance is the constitutional underpinning of Section 140 of the Ordinance.” The ruling observed that the requirement of notice before recovery is not…
At least 11 Palestinians have been killed in Israeli attacks across Gaza since dawn, according to hospital sources cited by Al Jazeera, as political turmoil deepens for Israeli Prime Minister Benjamin Netanyahu. The network’s correspondents on the ground reported that Israeli air raids, artillery shelling, and drone strikes struck several areas, including Shujayea, Jabalia, and the Shati refugee camp, one of Gaza’s most densely populated zones. Five members of the same family were killed in Shati, and dozens more were wounded. Reporting from Deir el-Balah, Al Jazeera’s Hind Khoudary said Israeli forces had issued evacuation orders to residents in eastern…
People look at iPhones at the Apple Fifth Avenue store in New York City on May 23, 2025.Adam Gray | ReutersApple and miner MP Materials announced a $500 million deal Tuesday for rare earth magnets and the development of a recycling facility that will reinforce the iPhone maker’s U.S. supply chain.MP Materials stock climbed 24%. Shares of Apple were marginally higher.As part of the agreement, Apple will buy rare earth magnets created at the company’s facility in Fort Worth, Texas. Both companies will combine on a new rare earth recycling line in Mountain Pass, California. MP Materials plans to start…
Construction renovation of new office in business building window at nightFangxianuo | E+ | Getty ImagesA version of this article first appeared in the CNBC Property Play newsletter with Diana Olick. Property Play covers new and evolving opportunities for the real estate investor, from individuals to venture capitalists, private equity funds, family offices, institutional investors and large public companies. Sign up to receive future editions, straight to your inbox.After a slow improvement in demand for office space in the first part of this year, April brought a significant contraction. Tariffs may be behind it.In April, 17 of the 19 major office markets…
Listen to article KARACHI: The record-eclipsing rally at the Pakistan Stock Exchange (PSX) fizzled out on Tuesday as investors took a breather and booked profits in a large number of equities at higher valuations. The benchmark KSE-100 index shed 562.67 points, or 0.41%, and settled at 135,939.87 at the close of trading. Earlier at the start of the session, the market shot up rapidly and after continuous fluctuations touched the day’s peak at 137,748 before midday. Afterwards, the index began descending gradually, reaching its intra-day low at 135,826 towards the close of trading. Topline Securities, in its report, said that the local…
CoreWeave Inc. signage in Times Square in New York, US, on Friday, May 9, 2025. Yuki Iwamura | Bloomberg | Getty ImagesCoreweave stock climbed more than 9% on Tuesday after the company announced a $6 billion artificial intelligence data center project in Pennsylvania.The commitment includes an initial 100 megawatt data center built in Lancaster, a city about 70 miles west of Philadelphia. The data center will be able to expand to 300 MW.”The demand for high-performance AI compute is relentless,” said CoreWeave CEO Michael Intrator in a release, “and CoreWeave is scaling a cloud purpose-built for AI to meet it…
Workers prepare customers’ orders at the main rice market in Jakarta on July 9, 2025.Bay Ismoyo | AFP | Getty ImagesPresident Donald Trump on Tuesday said he has reached a deal with Indonesia, a week after he threatened to slap a 32% tariff on the southeast Asian country’s U.S. exports.Trump in a Truth Social post called it “great deal, for everybody,” and said it followed direct dealings with Indonesian President Prabowo Subianto.He provided no other information about the purported deal, but said details would follow.Indonesia is one of the United States’ top 25 trade partners, with the two countries trading…
A version of this article first appeared in the CNBC Property Play newsletter with Diana Olick. Property Play covers new and evolving opportunities for the real estate investor, from individuals to venture capitalists, private equity funds, family offices, institutional investors and large public companies. Sign up to receive future editions, straight to your inbox.As private companies like SpaceX and Blue Origin develop reusable rockets and push aspirations for lunar and Martian colonization, real estate investors are dialing in. Some liken it to the early days of the railroads, when entire towns grew up around new lines. One of the biggest plays is…
ISLAMABAD: Interior Minister Mohsin Naqvi has said that starting January 1, 2026, Zaireen will only be allowed to travel to Iraq under officially registered group organisers. Pakistan, Iran and Iraq have agreed to establish a joint working group to streamline travel arrangements for pilgrims, following a trilateral conference of the countries’ interior ministers held in Tehran on Monday. Naqvi, speaking at the meeting, thanked his Iranian counterpart Eskandar Momeni for hosting the conference at Pakistan’s request, highlighting the growing need to address issues faced by pilgrims visiting Iran and Iraq. “Pilgrims travelling to Iraq and Iran are of great importance…