Latest news with #BloombergNews
Bloomberg
an hour ago
- Science
- Bloomberg
Trust in AI Strongest in China, Low-Income Nations, Study Shows
A United Nations study found a sharp global divide on attitudes toward artificial intelligence, with trust strongest in low-income countries and skepticism high in wealthier ones. More than 6 out of 10 people in developing nations said they have faith that AI systems serve the best interests of society, according to a UN Development Programme survey of 21 countries seen by Bloomberg News. In two-thirds of the countries surveyed, over half of respondents expressed some level of confidence that AI is being designed for good.
The Sun
2 hours ago
- Business
- The Sun
Chinese exports of rare-earth magnets plummet in May
BEIJING: Chinese exports of rare-earth magnets continued their downward slide in May, official data showed on Friday, reflecting restrictions imposed by Beijing during its trade war with the United States. China is the world's leading producer of rare earths, used to make magnets essential to the automotive, electronics and defence industries. Since April, Beijing has required traders to obtain licences before they export the strategic materials, a move seen as retaliation for US curbs on the import of Chinese goods. Many manufacturers, particularly in the automotive sector, have bewailed what they view as sporadic licence issuances. And Chinese customs data revealed Friday that the country's rare-earth magnet exports plummeted by 70 percent year-on-year in May, following an initial slowdown observed in April. Exports fell below the $60 million mark, hitting their lowest level since 2015 excluding the Covid-19 pandemic, according to Bloomberg News. After talks between China and the US in London this month, Beijing said it had issued a 'certain number' of export licences for rare earths. US President Donald Trump said last week on his Truth Social platform that 'any necessary rare earths... will be supplied, up front, by China'. Beijing also said it would launch a 'green channel' to facilitate rare earth exports to the European Union. But its exports of rare-earth magnets to the EU in May plunged by 81 percent year-on-year, according to the customs figures. And exports of small parcels to the US dropped by half compared to the previous month. Last month, Washington ended a tariff exemption previously enjoyed by low-value parcels shipped from China and Hong Kong. The measure dealt a severe blow to platforms shipping low-cost items from China, such as Shein and Temu. The decline was offset by a rise in China's total small parcel exports to the rest of the world, which were up 40 percent year-on-year, with particularly notable increases to Singapore, Russia, Europe and Australia. Besides the US, several countries have been trying to limit the rise of platforms sending cheap products made in China. This month, France adopted a bill that aims to curb fast fashion by banning advertising and imposing an additional tax on small parcels.
Mint
2 hours ago
- Automotive
- Mint
Tesla set to open first India showroom in Mumbai by mid-July with Chinese EVs, says report
Tesla Inc. is set to open its first showrooms in India in July, kicking off formal operations in the world's third-biggest automobile market as the Elon Musk-led firm hunts for growth amid falling sales in Europe and China, people familiar with the discussions said. According to a Bloomberg report, Tesla's first set of cars have arrived in India – Model Y rear-wheel drive SUVs shipped from Tesla's China factory, according to the people, who asked not to be identified as the information is private, as well as documents seen by Bloomberg News. The Model Y is the world's largest selling electric car. The first showroom is set to open in Mumbai as early as mid-July, which will be followed by one in New Delhi, the report, citing sources, said. It has also imported Supercharger components, car accessories, merchandise and spares from the US, China and the Netherlands, the documents show. The debut will end a years-long on-again, off-again saga over Tesla's entry into India - a market Musk has long eyed but held back from entering due to disagreements over tariffs and local manufacturing. The breakthrough in bringing Tesla to India comes after Musk met Prime Minister Narendra Modi in the US in February. Bloomberg News reported in February that Tesla was set to ship a few thousand cars to a port near Mumbai. Tesla spokespersons did not immediately respond to an email seeking comment on opening of the India showrooms and the preparations underway. Five Model Y vehicles have already arrived in Mumbai from Tesla's Shanghai factory, according to documents reviewed by Bloomberg News. The cars were declared at 2.77 million rupees ($31,988) and attracted more than 2.1 million rupees in import duties — a levy that's consistent with India's 70 per cent tariff on fully-built imported cars under $40,000 plus surcharges, the documents show. The model is expected to go on sale for more than $56,000 before taxes and insurance, though Tesla will determine the final sticker price based on its margin and positioning strategy, according to people familiar with the plans. That compares with an ex-showroom price of $44,990 for the same model in the US, which sells for $37,490 once tax credits are applied. The premium price tag will likely be a major hurdle to Tesla's plans as the automaker will need to convince value-driven consumers to open their wallets. EVs account for just over 5 per cent of new passenger vehicle sales in India, but premium cars still represent less than 2 per cent of the market, data with Indian government's vehicle registration portal show. The company hasn't appointed a new country head following the departure of Prashanth Menon, but is beefing up hiring across charging, retail and policy teams, according to people familiar with the matter. The Model Y imports represent an initial foray into the market and Tesla plans to expand its presence, including offering more models. It's leasing warehouse space in Karnataka, in India's south, and is adding more in Gurugram, outside New Delhi, the people said. Tesla executives from other countries are making weekly visits, the people said, to the Mumbai and New Delhi showrooms, which are in high-profile, luxury business precincts in an effort to attract affluent shoppers.
Time of India
3 hours ago
- Automotive
- Time of India
Tesla set to open India showrooms in July with Made-in-China EVs
Tesla Inc. is set to open its first showrooms in India in July, people familiar with the discussions said, kicking off formal operations in the world's third-biggest automobile market as the Elon Musk-led firm hunts for growth amid falling sales in Europe and China. The electric vehicle giant's first set of cars have arrived in the country — Model Y rear-wheel drive SUVs shipped from Tesla's China factory, according to the people, who asked not to be identified as the information is private, as well as documents seen by Bloomberg News. The Model Y is the world's largest selling electric car. Tesla is set to open its first showroom in Mumbai as early as mid July, which will be followed by one in New Delhi, according to the people. It has also imported Supercharger components, car accessories, merchandise and spares from the US, China and the Netherlands, the documents show. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Cardiologist Reveals: The Simple Morning Habit for a Flatter Belly After 50! Lulutox Undo The debut will end a years-long on-again, off-again saga over Tesla's entry into India - a market Musk has long eyed but held back from entering due to disagreements over tariffs and local manufacturing. The breakthrough in bringing Tesla to India comes after Musk met Indian Prime Minister Narendra Modi in the US in February. Bloomberg News reported in February that Tesla was set to ship a few thousand cars to a port near Mumbai. Live Events Tesla spokespersons did not immediately respond to an email seeking comment on opening of the India showrooms and the preparations underway. Premium Price Five Model Y vehicles have already arrived in Mumbai from Tesla's Shanghai factory, according to documents reviewed by Bloomberg News. The cars were declared at 2.77 million rupees ($31,988) and attracted more than 2.1 million rupees in import duties — a levy that's consistent with India's 70% tariff on fully-built imported cars under $40,000 plus surcharges, the documents show. The model is expected to go on sale for more than $56,000 before taxes and insurance, though Tesla will determine the final sticker price based on its margin and positioning strategy, according to people familiar with the plans. That compares with an ex-showroom price of $44,990 for the same model in the US, which sells for $37,490 once tax credits are applied. The premium price tag will likely be a major hurdle to Tesla's plans as the automaker will need to convince value-driven consumers to open their wallets. EVs account for just over 5% of new passenger vehicle sales in India, but premium cars still represent less than 2% of the market, data with Indian government's vehicle registration portal show. Beefing Up The company hasn't appointed a new country head following the departure of Prashanth Menon, but is beefing up hiring across charging, retail and policy teams, according to people familiar with the matter. The Model Y imports represent an initial foray into the market and Tesla plans to expand its presence, including offering more models. It's leasing warehouse space in Karnataka, in India's south, and is adding more in Gurugram, outside New Delhi, the people said. Tesla executives from other countries are making weekly visits, the people said, to the Mumbai and New Delhi showrooms, which are in high-profile, luxury business precincts in an effort to attract affluent shoppers.
See - Sada Elbalad
5 hours ago
- Politics
- See - Sada Elbalad
Iran Hacks Israeli Surveillance Cameras
Israa Farhan An Israeli cybersecurity official has revealed that Iran has successfully hacked private surveillance cameras across Israel in a bid to gather real-time data on missile strikes, including impact timing and accuracy of targets inside the country. The warning follows a wave of Iranian ballistic missile attacks earlier this week, which struck high-rise buildings in Tel Aviv in retaliation for Israeli strikes on Iranian territory. The cyber threat has prompted urgent alerts to Israeli citizens regarding the security of internet-connected home cameras. Rafael Franco, former deputy director-general of Israel's National Cyber Directorate, urged residents via public radio to either disable their security cameras or update their passwords immediately. Speaking to Bloomberg News, Franco explained that Iranian operatives had attempted to access footage in the days following the attacks to assess the exact locations and effectiveness of their missile strikes. Franco, who now leads the Israeli cybersecurity firm Code Blue, emphasized that Tehran intends to enhance its targeting precision by utilizing Israeli video data. This revelation comes amid a sharp escalation in cyber warfare between the two regional rivals. In parallel with the missile exchanges, pro-Israeli hacking group Predatory Sparrow claimed responsibility for cyberattacks on a major Iranian bank and a breach that disrupted the country's cryptocurrency exchange systems. Iran's state media reported a large-scale cyber offensive from Israel, targeting critical infrastructure across the Islamic Republic. An Israeli National Cyber Directorate spokesperson confirmed that internet-connected surveillance systems are increasingly being targeted as part of Iran's military strategy. read more Gold prices rise, 21 Karat at EGP 3685 NATO's Role in Israeli-Palestinian Conflict US Expresses 'Strong Opposition' to New Turkish Military Operation in Syria Shoukry Meets Director-General of FAO Lavrov: confrontation bet. nuclear powers must be avoided News Iran Summons French Ambassador over Foreign Minister Remarks News Aboul Gheit Condemns Israeli Escalation in West Bank News Greek PM: Athens Plays Key Role in Improving Energy Security in Region News One Person Injured in Explosion at Ukrainian Embassy in Madrid News China Launches Largest Ever Aircraft Carrier Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt Business Fear & Greed Index Plummets to Lowest Level Ever Recorded amid Global Trade War Arts & Culture Zahi Hawass: Claims of Columns Beneath the Pyramid of Khafre Are Lies News Flights suspended at Port Sudan Airport after Drone Attacks Videos & Features Video: Trending Lifestyle TikToker Valeria Márquez Shot Dead during Live Stream News Shell Unveils Cost-Cutting, LNG Growth Plan Technology 50-Year Soviet Spacecraft 'Kosmos 482' Crashes into Indian Ocean News 3 Killed in Shooting Attack in Thailand
