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Analysts have said Shopee benefited from an early start of Ramadan in the quarter, while Sea's digital business gained from the popularity of online multi-player game Free Fire. Sea's total revenue grew 23% to $3.73 billion in the quarter ended March 31, compared with analysts' average estimate of $3.56 billion, according to LSEG data. The $37 billion-firm had a meteoric run in 2020 and 2021, when pandemic-led demand lifted revenues and helped it expand beyond the Southeast Asian markets.
Prices in Argentina are climbing, despite positive signs of a deceleration, with the embattled South American country's annual inflation rate set to edge closer to 300% when the government reveals the latest data on Tuesday. The inflation rate is set to edge back under single digits in April for the first time in six months. "No matter how much the inflation rate goes down, which is what everyone says, it is not reflected here because look, there are items that should have gone down but haven't," said Sandra Boluch, 50, a fruit and vegetable seller in Buenos Aires.
Negotiations between China and an Arab bloc for a free trade agreement have stalled over concerns by Saudi Arabia that cheap Chinese imports could undermine its ambitions to transform the kingdom into an industrial powerhouse, sources say. Saudi Arabia has backed renewed efforts over the past two years for the Gulf Cooperation Council (GCC), the Arab bloc which includes the kingdom, United Arab Emirates and Qatar, among others, to finally seal a long sought deal with China. But five sources briefed on the negotiations said the sides were at an impasse over Saudi reservations with a list of goods put forward by Beijing to be exempt from Gulf import duties.
Alphabet is expected to announce on Tuesday how it is building on artificial intelligence across its businesses, a day after OpenAI demonstrated a new AI model that can work with sound and images in addition to text. The annual I/O developer event is typically when Alphabet showcases its latest new technology and whatever it unveils will help investors evaluate its progress against Microsoft backed OpenAI. This event serves as a critical indicator of Alphabet's competitive position in tech as it introduces AI into products such as search, used by billions of people around the world.
President Joe Biden will announce Tuesday that his administration is raising tariffs on $18 billion of Chinese exports, including electric vehicles, as the White House tries to fight what it says are unfair trade practices by its global competitor.
Voters in West Virginia, Maryland and Nebraska head to the polls for primaries Tuesday, while North Carolina holds primary runoffs. Here's what to watch for.
Rescuers recovered more bodies on Tuesday after weekend flash floods and cold lava flow on Indonesia's Sumatra island killed at least 57 people and left another 22 missing, provincial officials said."To date, 57 victims have been found dead," Ilham Wahab, West Sumatra disaster mitigation agency official, told AFP, adding 22 people were still missing.
European and Asian stock markets were flat to slightly lower Tuesday on the eve of key US inflation data that could have a huge bearing on the extent of US interest rate cuts this year.In Asian trading Tuesday, leading stock markets closed mixed.
Having an imbalanced ratio of omega-6 to omega-3 has been linked with a higher risk of premature death, according to a new study.
With a shaved head and flowing monk robes, a South Korean DJ chants traditional Buddhist scripture mixed with Gen-Z life advice over a thumping EDM beat, as the crowd goes wild.he adds, citing classic Buddhist tenants, as the beat drops at an electronic dance music (EDM) event marking a lantern festival for Buddha's birthday, which falls on Wednesday.
Foreign Minister Hakan Fidan said on Tuesday that Turkey decided to submit its declaration of official intervention in South Africa's genocide case against Israel at the International Court of Justice (ICJ). Earlier this month Fidan announced the decision to join the case launched by South Africa as Ankara stepped up measures against Israel over its assault on Gaza, which has killed more than 35,000 people and launched after militant group Hamas' Oct. 7 rampage.
At least 14 people have died and dozens were injured after a huge billboard fell on them during a thunderstorm in India’s financial capital Mumbai, according to local authorities.
No matter who wins the presidential election in November, American businesses can expect to pay more to import certain foreign-made goods.
President Joe Biden is increasing tariffs on $18 billion in Chinese imports across a handful of sectors deemed strategic to national security – an attempt to cripple Beijing’s development of critical technologies and instead prioritize US production.
As waves grew and gusts increased, a wind turbine bobbed gently, its blades spinning with a gentle woosh. The demonstration featuring a 13-foot-tall (4-meter-tall) floating wind turbine in an indoor pool aimed to ensure it can withstand the strain of powerful water and wind when much larger versions are deployed in the ocean. In the next decade, UMaine researchers said, they envision turbine platforms floating in the ocean beyond the horizon, stretching more than 700 feet (210 meters) skyward and anchored with mooring lines.
(Reuters) -China's Alibaba Group Holding beat analysts' estimates for fourth-quarter revenue on Tuesday, as a focus on low-cost goods in response to cautious consumer spending helped boost domestic e-commerce sales. Consumers in China have been spending carefully after the COVID-19 pandemic amid an economic slowdown and property slump. Alibaba's domestic commerce arm, Taobao and Tmall Group, grew 4% year-over-year with order volume increasing double-digits.
Six months after Geert Wilders swept to a stunning election win in the Netherlands, top politicians have until Wednesday to form a government -- without the far-right firebrand as prime minister."The love for my country and voters is bigger and more important than my own position," said Wilders at the time, adding that he would eventually fulfil his dream of becoming PM. Having won the most seats in the election, the ball is in Wilders's court to propose a prime minister and he has said he has s
For decades, police across the United States have been warned that the common tactic of handcuffing someone facedown could turn deadly if officers pin them on the ground with too much pressure or for too long. Recommendations first made by major departments and police associations culminated in a 1995 federal safety bulletin that explained keeping someone on their chest in what’s known as prone restraint can dangerously restrict breathing. Cases involving prone restraint are among more than 1,000 AP documented over a decade of people who died not by gunshot but after officers used force that is not meant to kill.
Taiwanese tech giant Foxconn on Tuesday reported a 72 percent jump in net profit during the first three months of 2024 as demand for artificial intelligence technology grows.- AI servers - Foxconn had credited its recent steady performance growth to strong demand for generative AI, a technology that has seen a surge in demand in recent years.
Russia's Supreme Court has rejected an appeal by Kremlin critic Vladimir Kara-Murza against his 25-year jail sentence on treason and other charges, according to a Reuters reporter at the court on Tuesday. Moscow-born Kara-Murza, who has both Russian and British passports, has repeatedly condemned Russia's war in Ukraine, criticised President Vladimir Putin, and lobbied for Western sanctions against Moscow.