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Tech industry sees 32,000 job cuts in ongoing layoff wave
In a continuation of an unsettling trend, the tech industry is facing yet another wave of job cuts, further exacerbating the repercussions of widespread layoffs from the previous year. The year 2024 has already witnessed over 32,000 tech…
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MENA witnesses $10.7 billion from 48 IPOs in 2023
The Middle East and North Africa (MENA) region experienced a remarkable surge in initial public offerings (IPOs) in 2023, with a total of 48 listings raising an impressive $10.7 billion in proceeds. The IPO market in MENA demonstrated…
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Snap Inc. announces 10% workforce reduction, impacting 500 jobs
In a significant strategic move, Snap Inc., the parent company of Snapchat, has announced its intention to reduce its global workforce by 10%. This decision will result in the termination of approximately 500 jobs, with the primary aim of…
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Modi’s visionary policies propel India to target 8% GDP growth
India is on the cusp of achieving remarkable annual GDP growth of up to 8% for the foreseeable future, primarily driven by substantial strides in its manufacturing capabilities. Union Minister for Railways, Communications, Electronics, and…
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Deutsche Bank to slash 3,500 jobs amidst $4.5 billion profit
In a surprising move, Deutsche Bank has declared its intention to cut 3,500 jobs as part of a broader strategy to trim costs by 2.5 billion euros (USD 2.7 billion) within the coming year. This announcement coincided with the release of the…
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Stocks fluctuate as Fed holds rates steady
The U.S. stock market exhibited fluctuations as the Federal Reserve opted to hold key interest rates steady within the range of 5.25% to 5.50%. This decision came alongside a statement emphasizing that despite some progress, inflation…
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Samsung reports a 34.57% decline in Q4 operating profit
Samsung Electronics, the world’s leading producer of dynamic random-access memory chips, has reported a 34.57% decrease in its operating profit for the fourth quarter compared to the previous year. This decline is consistent with the…
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UPS reports disappointing Q4 earnings and reveals 12,000 job cuts
United Parcel Service (UPS) reported a significant drop in shipping volume, both domestically and internationally, in its fourth-quarter earnings report released on Tuesday. The company also revealed plans to implement a workforce reduction…
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Tech stocks drive Norway’s sovereign fund to $213 billion profit
Norway’s colossal sovereign wealth fund announced a groundbreaking achievement on Tuesday, as it revealed a record profit of $213 billion (2.22 trillion kroner) for the year 2023. This remarkable financial milestone was primarily fueled by…
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IMF’s 2024 global growth forecast highlights U.S. resilience
The International Monetary Fund (IMF) has revised its global growth projection for 2024, increasing it by 0.2 percentage points to 3.1%. This upward revision is attributed to the resilience of the U.S. economy and the proactive fiscal…
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