Market News

Shares of Evergrande Suspended Amid Surveillance of Chairman

Trading Suspension & Financial Turbulence HONG KONG – Shares of the beleaguered Chinese real estate developer, China Evergrande Group, were suspended from trading on Thursday, as announced by Hong Kong’s exchange. This comes in light of reports suggesting that the company’s chairman is under surveillance. Bloomberg News reported that the chairman of Evergrande, Hui Ka […]

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AMD’s Acquisition of AI Software Startup: A Strategic Move to Compete with Nvidia

Santa Clara, California — Advanced Micro Devices (AMD), one of the world’s leading chipmakers, announced on Tuesday its plans to acquire artificial intelligence (AI) software startup Nod.AI, marking a significant step in its quest to rival Nvidia in the AI sector. GET MUSAFFA PREMIUM NOW  Bolstering AMD’s AI Arsenal AMD’s acquisition of the Santa Clara-based

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Nike Outpaces Wall Street Predictions: Strong Q1 Results Boost Investor Confidence

As Wall Street whispers hinted at a slowdown, Nike dashes the naysayers with stronger than expected earnings and a robust performance in China. After the market closed on Thursday, Nike unveiled its fiscal first quarter financial results that not only beat analysts’ expectations regarding gross margins and earnings per share but also displayed an unanticipated

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G42 and Microsoft Collaboration: Accelerating UAE’s Digital Transformation

In a significant development that promises to accelerate digital transformation in the United Arab Emirates (UAE), tech giants G42 and Microsoft have announced a groundbreaking partnership. The collaboration aims to deliver a joint sovereign cloud and Artificial Intelligence (AI) offering tailored for the UAE’s public sector and regulated industries. His Excellency Dr. Mohamed Al Kuwaiti,

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Adobe to Acquire One of Its Biggest Rivals, Figma for $20 Billion

Adobe to Acquire Figma for $20Billion

Adobe and Figma officially announced on their website that they have entered into a definitive merger agreement for around $20 billion worth of cash and stock. Dylan Field, the CEO of Figma, stated that they had been working on this decision over the past few months before finally announcing it on Figma’s website.  GET MUSAFFA

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Saudi Arabia Discovered New Gold and Copper Ore Sites in Medina

New Gold & Copper Ore Sites in Madinah

Mining is one of the sectors projected for expansion as part of the goal of Saudi Arabia’s Crown Prince Mohammed bin Salman’s 2030 vision. According to Professor Abdulaziz bin Labon, Chairman of the Saudi Geologists Cooperative Association, Saudi Arabia had over 5,300 mineral locations early this year. Saudi plans to attract $170 billion in investment

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Queen Elizabeth II, Britain’s Longest Monarch, Died on September 8, 2022, Aged 96

Queen Elizabeth reigned for 70 years, making her the longest-serving British monarch. She was the longest reigning monarch in British history. Her reign lasted nearly 30% of American history and met 13 of the last 14 presidents. She lived through numerous periods of conflict, from World War II to Brexit. The 96-year-old Queen ascended the

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Know 4 Things Elon Musk Plans to Change after Buying Twitter

After buying Twitter, Elon Musk planed to change several aspects on Twitter. On Monday, April 25, 2022, Twitter accepted a $44 billion acquisition bid by Elon Musk, the billionaire CEO of Tesla and SpaceX. After getting some criticism, Twitter finally accepted the deal offered by Elon Musk. Get Musaffa Premium Now  Why did Twitter finally

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For the First Time in History, Netflix Lost Its 200,000 Subscribers

For the First Time in History, Netflix Lost Its 200,000 Subscribers

For the first time in history, on April 19, 2022, Netflix lost its 200,000 worldwide subscribers, resulting in a massive sell-off of its stock. For this reason, Netflix stock fell by 23% in after-market trading. Instead of adding over 2 million subscribers in the first quarter of the year, as forecasted three months ago, Netflix

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