logo
Uber, Baidu Partner to Launch Autonomous Vehicles

Uber, Baidu Partner to Launch Autonomous Vehicles

Israa Farhan
Uber and Chinese tech giant Baidu announced a strategic partnership on Tuesday to deploy thousands of autonomous vehicles operated by Baidu's Apollo Go unit on the Uber platform in select global markets outside the United States and China.
According to the joint statement, the initial rollout of self-driving vehicles is expected to begin later this year in key regions across Asia and the Middle East.
Apollo Go, Baidu's autonomous driving division, currently manages a fleet of over 1,000 fully self-driving vehicles operating in 15 cities worldwide, including Dubai and Abu Dhabi. As of May, the service had completed over 11 million autonomous rides globally.
This collaboration
marks
Uber's latest move in a growing series of strategic alliances aimed at bolstering its presence in the rapidly evolving autonomous taxi market.
The company is intensifying its efforts to compete with rivals like Lyft and other players in the global race for dominance in driverless ride-hailing services.
The Uber-Baidu partnership signals a significant push to expand autonomous mobility in high-growth markets beyond North America and China, where regulatory and infrastructure environments are becoming increasingly favorable to advanced mobility solutions.
read more
UAE's Lunar Mission Delayed to Tomorrow
Twitter Lifts Trump's Account Ban
Scientists Find Evidence Of 10،000 Black Holes Surrounding The Center Of The Milky Way Galaxy
Greenhouse In Antarctica Able To Grow Vegetables Without Soil Or Sunlight
Moving Over China: U.S. Is Again Home to World's Speediest Supercomputer
Technology
The 10 most expensive cars in the world
Technology
Top 10 fastest cars in the world
Technology
Lasers Could Make Computers 1 Million Times Faster
Technology
Smart technology taking control of our lives
News
Israeli-Linked Hadassah Clinic in Moscow Treats Wounded Iranian IRGC Fighters
News
China Launches Largest Ever Aircraft Carrier
Sports
Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer
Videos & Features
Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall
Lifestyle
Get to Know 2025 Eid Al Adha Prayer Times in Egypt
News
"Tensions Escalate: Iran Probes Allegations of Indian Tech Collaboration with Israeli Intelligence"
News
Flights suspended at Port Sudan Airport after Drone Attacks
Arts & Culture
South Korean Actress Kang Seo-ha Dies at 31 after Cancer Battle
Arts & Culture
Hawass Foundation Launches 1st Course to Teach Ancient Egyptian Language
Videos & Features
Video: Trending Lifestyle TikToker Valeria Márquez Shot Dead during Live Stream
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Al-Mashat Discusses Efforts to Drive Green Transformation with Africa Finance Corporation and Infinity Power
Al-Mashat Discusses Efforts to Drive Green Transformation with Africa Finance Corporation and Infinity Power

See - Sada Elbalad

time2 hours ago

  • See - Sada Elbalad

Al-Mashat Discusses Efforts to Drive Green Transformation with Africa Finance Corporation and Infinity Power

Yara Sameh H.E. Dr. Rania Al-Mashat, Minister of Planning, Economic Development, and International Cooperation, held a meeting with Mr. Mokhtar Abul Ata, Head of Business Development for North Africa at Infinity Power, and Mr. Eli Aluko, Investment Director at AFC Asset Management, Affiliated with the Africa Finance Corporation, to discuss enhancing joint cooperation efforts to promote green transformation and develop sustainable infrastructure in Egypt. The meeting witnessed discussions on the Climate Resilient Infrastructure Fund launched by the Africa Finance Corporation (AFC) in collaboration with the Green Climate Fund (GCF), with the aim of implementing sustainable infrastructure projects and supporting development and climate action priorities, especially in the energy and transportation sectors. Africa Finance Corporation and Infinity Power officials presented the fund's financing structure and the efforts made in recent period to mobilize concessional financing and technical support for various beneficiary countries, as well as its role in providing funding for private sector companies to strengthen their role in developing climate-resilient infrastructure projects. For her part, H.E. Dr. Rania Al-Mashat, Minister of Planning, Economic Development, and International Cooperation, affirmed Egypt's keenness to maximize partnerships with international institutions and climate investment funds to provide more financing for sustainable infrastructure projects, in addition to expanding private sector participation in development. Dr. Al-Mashat highlighted the coordination carried out by the Ministry of Planning, Economic Development, and International Cooperation with various national entities and development partners to put these efforts into practice, explaining that Egypt was selected among seven countries to benefit from the Climate Investment Fund (CIF) program to reduce emissions in the industrial sector under the Climate Investment Fund (CIF), which is the first global concessional financing initiative dedicated to reducing harmful emissions in the industrial sector of developing countries, with a value of $1 billion. H.E. added that selection of Egypt as one of seven countries to benefit from the Climate Investment Fund (CIF) program for emission reduction in the industrial sector confirms the international community's confidence in national strategies and efforts to enhance climate action, noting that the selection represents an important step toward enhancing the competitiveness of the Egyptian economy and attracting more climate investments. H.E. Dr. Rania Al-Mashat directed the technical sectors to strengthen communication with AFC and Infiniti officials in order to identify the details of the new fund and study the necessary steps to enhance the Egyptian private sector's benefit from the financing available through the fund. 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 Israeli-Linked Hadassah Clinic in Moscow Treats Wounded Iranian IRGC Fighters Arts & Culture "Jurassic World Rebirth" Gets Streaming Date News China Launches Largest Ever Aircraft Carrier Videos & Features Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt Arts & Culture South Korean Actress Kang Seo-ha Dies at 31 after Cancer Battle Business Egyptian Pound Undervalued by 30%, Says Goldman Sachs Sports Get to Know 2025 WWE Evolution Results News "Tensions Escalate: Iran Probes Allegations of Indian Tech Collaboration with Israeli Intelligence" News Flights suspended at Port Sudan Airport after Drone Attacks

Six months of Trump 2.0: Chaotic policy shifts, resilient markets
Six months of Trump 2.0: Chaotic policy shifts, resilient markets

Mid East Info

time3 hours ago

  • Mid East Info

Six months of Trump 2.0: Chaotic policy shifts, resilient markets

Charu Chanana, Chief Investment Strategist, Saxo Bank In just six months since Donald Trump returned to the White House, markets have experienced a whirlwind of policy headlines, geopolitical recalibrations, and economic crosswinds. Echoing Lenin's famous words, there are decades where nothing happens, and weeks where decades happen. The first half of 2025 has seen the U.S. government adopt a more self-directed, assertive role on the world stage, rekindling protectionist rhetoric, floating ambitious tax and spending plans, and throwing policy support behind innovation and national security. Yet, markets have remained largely resilient. Equities have continued climbing, optimism around artificial intelligence has bolstered tech valuations, and volatility has remained subdued despite repeated threats of tariffs, tighter immigration rules, and political pressure on the Federal Reserve. Looking ahead, markets may need to shift their focus from headline noise to tangible outcomes. Several Trump-era themes now appear poised to move from speculation into execution—potentially reshaping capital flows and investment leadership in the second half of 2025. Trade tensions: rhetoric high, execution light Trade was one of Trump's most frequently mentioned topics in H1, with repeated threats of tariffs, especially targeting China and Mexico. However, so far, the execution has been limited. Tariffs have been repeatedly threatened but not enforced. Investors have largely shrugged off the noise, with markets often rallying after key deadlines pass uneventfully. Trump's approach to trade is being interpreted more as a tactical tool than an imminent threat to global commerce. Looking ahead: If tariffs are implemented following the August 1 deadline, cyclical sectors—particularly autos, industrials, and U.S. retailers—could face margin pressure. Conversely, another delay could restore risk appetite, especially for Asia-based exporters and global supply chain beneficiaries like India and Southeast Asia. Fed independence: pressure builds, markets stay calm Trump's persistent criticism of the Federal Reserve and calls for rate cuts have put the Fed's independence under increasing scrutiny. Despite this, Chair Jerome Powell has so far resisted political pressure. Trump's public criticism has escalated, including suggestions of removing Powell and risks of a shadow Fed chair. Although inflation has moderated, the Fed has maintained a steady policy stance—citing data dependence and caution around tariff-induced price volatility. Markets, however, are already pricing in rate cuts, supporting risk sentiment. Looking ahead: Powell's Jackson Hole speech in August and the September FOMC meeting will be key indicators of policy direction. If cuts materialize, they may reinforce the notion of a 'Trump Put'—suggesting policy will accommodate market weakness. If the Fed resists, volatility could reemerge, particularly across rate-sensitive assets. The 'Big Beautiful Tax Bill': promise or pipe dream? In typical Trump fashion, the 'Big Beautiful Tax Bill' was announced with fanfare, promising tax relief and a pro-growth boost to the economy. But so far, the plan remains more vision than law. The proposal includes corporate tax cuts, capital gains relief, and incentives for small businesses. Markets initially cheered the announcement, viewing it as a revival of 2017-style fiscal stimulus. However, concerns about funding, timing, and political gridlock have begun to surface. Looking ahead: The market appears to expect some version of the tax bill to pass, even if scaled down. A legislative impasse could spark policy disappointment and reverse optimism in tax-sensitive equities. Conversely, even partial passage could extend the rally in small- and mid-cap stocks and stimulate business investment. The new Trump trades: investment themes to watch from here As the policy headlines begin to transition into implementation, investors are starting to reposition toward themes that may have more staying power through Trump's second term. Artificial intelligence and infrastructure Trump has announced a $500 billion public-private AI infrastructure initiative, with participation from major firms including Softbank, OpenAI, and Oracle. Additionally, the GOP's tax bill proposes: $250 million in funding for AI-driven cybersecurity programs, Tax breaks for chipmakers building fabrication facilities in the U.S. Corporate spending remains strong, despite short-term earnings volatility: U.S. AI utilization rates have doubled year-on-year, according to Census Bureau data. Companies like Microsoft and Meta are ramping up AI development, adjusting internal structures to prioritize generative AI. Global investment competition is intensifying. China continues to pursue Nvidia chips, while Meta is expanding its in-house AI labs This level of commitment suggests AI is not a fad, but a structural shift that could define the next cycle of corporate capital expenditure. Defense and security Trump has signed several executive orders to support military innovation, cybersecurity, and domestic shipbuilding. The GOP spending bill allocates: $150 billion for defense overall, $29 billion specifically for shipbuilding, $170 billion for border enforcement. Geopolitical instability, from Russia-Ukraine to tensions in the Taiwan Strait, underscores the strategic focus. A $24 billion budget has also been proposed for a space-based missile defense system dubbed the 'Golden Dome.' These commitments make defense one of the more durable Trump trades, likely to benefit from bipartisan support. Metals and mining Resource nationalism is becoming a prominent theme under Trump. Executive orders supporting rare earths, copper, and energy exploration aim to reduce dependence on foreign suppliers. Highlights include: A Department of Defense investment in MP Materials, making the Pentagon its largest shareholder. Proposed tariffs on imported steel, aluminum, and copper, aimed at reviving U.S. production capacity. These developments signal longer-term support for U.S. mining and energy infrastructure, with implications for commodity prices and industrial equities. Digital assets and bitcoin Trump has taken a surprisingly proactive stance on crypto: An executive order was signed establishing a U.S. strategic Bitcoin reserve. A broader digital finance strategy aims to position the U.S. as a leader in blockchain innovation. Key legislative milestones are expected in H2, including a Senate vote on the Stablecoin Bill and the CLARITY Act. While crypto remains volatile, the regulatory direction under Trump appears to support innovation rather than suppression—potentially unlocking institutional flows. Small-cap stocks With more exposure to domestic demand and less sensitivity to global supply chains, small-cap equities are poised to benefit from: Proposed tax cuts, Looser regulatory conditions, Fiscal spending programs targeting infrastructure and innovation. These factors could unlock outperformance, particularly if the 'Big Beautiful Tax Bill' advances in Congress. Banking sector The combination of rate cuts and deregulation is creating a constructive backdrop for U.S. banks: Lower funding costs may boost profitability, Looser regulatory oversight could accelerate M&A activity, Underlying credit fundamentals remain relatively stable. This makes the banking sector attractive to investors looking for mean reversion and income. Fed rate cut plays Despite the Fed's current stance, markets are already discounting potential cuts by year-end. If rate cuts materialize, they would have broad implications: Duration-sensitive sectors such as utilities, REITs, and consumer staples stand to benefit as bond yields decline. High-dividend equities may regain favor, especially among income-seeking investors reallocating from cash. Growth equities, particularly in technology and communication services, may get an additional boost as discount rates fall. The falling US dollar could support non-U.S. equities and commodities, reinforcing flows into emerging markets and gold. China: from manufacturing to innovation China's economic trajectory is increasingly defined by a shift from export-led manufacturing to high-tech innovation: Despite demographic headwinds and trade restrictions, capital continues to flow into AI and semiconductors. China's pivot reflects a deeper transformation—from quantity to quality, and from global outsourcing to domestic capability. U.S. dollar outlook The combined impact of political interference in Fed policy, rising fiscal deficits, and potential rate cuts could push the dollar lower. A weaker dollar would: Make US assets less attractive for foreign investors, Enhance the appeal of European and Asian equities, Boost earnings for U.S. multinationals, Provide tailwinds for gold, oil, and other commodities. This macro backdrop favors international diversification, selective EM allocation, and commodity exposure in H2.

Egypt's Non-Oil Trade Deficit Narrows as Exports Surge in Q1 2025: Cabinet Report
Egypt's Non-Oil Trade Deficit Narrows as Exports Surge in Q1 2025: Cabinet Report

See - Sada Elbalad

time4 hours ago

  • See - Sada Elbalad

Egypt's Non-Oil Trade Deficit Narrows as Exports Surge in Q1 2025: Cabinet Report

Ahmed Emam The Information and Decision Support Center (IDSC) of Egypt's Cabinet has released the 17th edition of its quarterly report on non-oil merchandise exports, offering an in-depth analysis of Egypt's non-oil trade balance for the period spanning Q1 2024 to Q1 2025. According to the report, Egypt's non-oil trade deficit shrank to $5.6 billion in the first quarter of 2025, down from $6.4 billion in Q1 2024—marking a 12.5% decrease. The improvement is attributed to a significant rise in non-oil merchandise exports, which outpaced the growth in imports. Egypt's non-oil exports climbed to $13 billion during Q1 2025, up from $9.7 billion in the same quarter last year, reflecting a robust year-on-year growth of 34%. Meanwhile, non-oil imports increased to $18.6 billion from $16.1 billion, representing a 15.5% rise over the same period. The report also highlighted quarter-on-quarter progress. Non-oil exports in Q1 2025 grew by 17.1% compared to Q4 2024, when export value stood at $11.1 billion. Among Egypt's top export groups, 'Natural or Cultured Pearls and Precious Stones' led in value, reaching approximately $2.9 billion in Q1 2025—a dramatic surge from $305.3 million in Q1 2024. This group alone accounted for 22.4% of Egypt's total non-oil exports, up from just 3.1% a year earlier, making it the only group among the top ten export categories to increase its relative weight. In contrast, several other major export categories saw a decline in their export share. These included: >> Edible fruits and nuts (from 8.9% to 6.6%) >> Iron and steel (from 5.3% to 3.3%) >> lPlastics and plastic products (from 6.6% to 4.8%) >> Vegetables and edible roots and tubers (from 7.1% to 5.4%) The report also includes an analysis of Egypt's trade balances with key global partners, though further details were not disclosed in the summary. This latest edition underscores Egypt's improving trade performance and diversification of its export base—driven notably by a surge in precious stones and jewelry exports—despite global economic headwinds. 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 Israeli-Linked Hadassah Clinic in Moscow Treats Wounded Iranian IRGC Fighters Arts & Culture "Jurassic World Rebirth" Gets Streaming Date News China Launches Largest Ever Aircraft Carrier Videos & Features Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt Arts & Culture South Korean Actress Kang Seo-ha Dies at 31 after Cancer Battle Business Egyptian Pound Undervalued by 30%, Says Goldman Sachs Sports Get to Know 2025 WWE Evolution Results News "Tensions Escalate: Iran Probes Allegations of Indian Tech Collaboration with Israeli Intelligence" News Flights suspended at Port Sudan Airport after Drone Attacks

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store