Secure Cloud Migrations Archives
"I don't see much impact from Trump mobile as half of it's market is negated by political parties, and this industry already has a lot of stickiness to current providers".
Learn about the @Trump Organization's new venture below.
https://www.tahawultech.com/industry/government/trump-launches-smartphone-mobile-service/
#TrumpMobile #tahawultech
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Khaleej Times
an hour ago
- Khaleej Times
India, Canada return ambassadors as Carney and Modi look past spat
India and Canada agreed on Tuesday to return ambassadors to each other's capitals, turning a page on a bitter spat over an assassination as Canada's new leader welcomed counterpart Narendra Modi. Prime Minister Mark Carney, who took office in March, invited Modi to the Canadian Rockies as a guest at the summit of the Group of Seven major economies. Carney's predecessor Justin Trudeau last year publicly accused India of involvement in the assassination of a Sikh separatist on Canadian soil and expelled the Indian ambassador, triggering a furious reciprocal response from India. Carney and Modi agreed that the two countries would name new high commissioners, as ambassadors are known between Commonwealth nations, in hopes of restoring normal operations for citizens and businesses. Carney said he hoped the meeting would "provide the necessary foundations to begin to rebuild the relationship, based on mutual respect, sovereignty, trust." "I would describe it as foundational -- as a necessary first step, a frank, open exchange of views around law enforcement, transnational repression," he told a news conference. He noted that India is invited each year to G7 summits of major industrial democracies, pointing to the size of its economy. The row had severely impeded diplomatic services between the two countries, which traded $9 billion in 2023 and have close cultural ties due to the vast Indian diaspora in Canada. Canada had to suspend in-person services at all missions in India outside its embassy in New Delhi. Politically sensitive Modi took a conciliatory tone as he met Carney at the mountain resort, saying that both Canada and India were "dedicated to democratic values." "The relationship between India and Canada is very important in many ways," Modi said. He congratulated Carney on guiding his Liberal Party to an election victory and voiced confidence that going forward, "India and Canada will work together to make progress in many areas." Sikh protesters rallied on the streets of Calgary, the closest large city to the summit, as many criticized Carney's inclusion of Modi, who is accustomed to invitations to major international gatherings despite criticism of his Hindu nationalist government's human rights record. The left-wing New Democratic Party, the fourth largest party in parliament which is not formally part of Carney's government, denounced the invitation to Modi and pointed to allegations of Indian surveillance against its former leader Jagmeet Singh, who is Sikh. "Continuing to engage Modi's government without accountability undermines all efforts to defend human rights, transparency, and the rule of law," it said in a statement before the visit. Canada is home to the largest Sikh population outside India. With some two percent of Canadian population and clustered in suburban swing areas, the community has exerted growing political influence. Hardeep Singh Nijjar, a naturalized Canadian citizen who advocated for an independent Sikh state called Khalistan, was shot dead in the parking lot of a Sikh temple in British Columbia in 2023. Trudeau accused India of direct involvement. Canada has accused India of directing a broad campaign of intimidation against Sikh activists in the country. India denied involvement in the killing and said Canada should take more action against violent advocates for Khalistan, which has been reduced to a fringe movement inside India. Carney declined to say if he specifically mentioned Nijjar's case in his talks with Modi, noting that it was the subject of ongoing litigation. The United States, which has a warm relationship with India, also accused an Indian agent of involvement in an unsuccessful plot against a Sikh separatist on US soil but addressed concerns more quietly than Trudeau.
Zawya
an hour ago
- Zawya
US added over 1,000 new millionaires a day last year, UBS report says
ZURICH - Wealth grew disproportionately quickly last year in the United States, where over 379,000 people became new U.S. dollar millionaires, more than a 1,000 a day, a report published on Wednesday showed. Private individuals' net worth rose 4.6% worldwide, and by over 11% in the Americas, driven by a stable U.S. dollar and upbeat financial markets, the 2025 Global Wealth Report by UBS found. The United States accounted for almost 40% of global millionaires in 2024. In 2023, Europe, the Middle East and Africa had led a rebound in global wealth after a decline in 2022. Greater China - which the report defined as mainland China, Hong Kong and Taiwan - led last year for individuals with a net worth of $100,000 to $1 million, accounting for 28.2%, followed by Western Europe with 25.4% and North America with 20.9%. The majority of people worldwide were below that threshold, however, with over 80% of adults in the UBS sample having a net worth of under $100,000. Overall, about 1.6% registered a net worth of $1 million or more, the report said. Over the next five years, the Swiss bank projects average wealth per adult to grow further, led by the United States, and, to a lesser extent, Greater China.
Zawya
an hour ago
- Zawya
Private equity sits on $1trln amid uncertainties, M&A stalls, PwC says
NEW YORK - Private equity firms are holding about $1 trillion in unsold assets, PricewaterhouseCoopers (PwC) said on Wednesday — capital that, in a typical market environment, would have been returned to investors. High interest rates in the United States, President Donald Trump's on-again, off-again approach to tariff policy, and geopolitical uncertainties have eroded company valuations and contributed to firms holding onto portfolio firms far longer than expected. The capital tie-up is playing a role in the slowdown in dealmaking. Mergers and acquisitions, a key barometer of global economic health, have stalled this year. "Patience is wearing a little bit thin" among limited partners (LP), said Kevin Desai, PwC U.S. deal platform leader. LP firms combine some of the largest and most influential investors in the world and invest trillions of dollars in PE firms in expectation of regular returns. Despite entering 2025 with high hopes for an M&A rally under Trump, deal volume and value have remained largely flat year-over-year, with 4,535 deals totaling $567 billion through May, PwC said. PwC's May 2025 Pulse Survey found that 30% of respondents have paused or are revisiting deals due to tariff issues, fueling investor frustration over delayed returns. "In a typical M&A cycle, $1 trillion would have already been put back into the market,' Josh Smigel, PwC's U.S. private equity leader, told reporters while disclosing the firm's 2025 midyear outlook on deal activity. Private equity firms, which deploy LP capital into businesses across industries, currently have $3 trillion invested in 30,000 companies, according to PwC, with 30% held for longer than five years. That is above the traditional timeline by which funds expect to have a profit on their investments. Earlier, these firms could easily hit their rate of return targets by using cheap debt and favorable market conditions. A separate PwC study found 57% of executives, who poured capital into businesses that needed to be fixed, saw the investments shrink or stay the same. So, now, PE firms need to be creative to squeeze profit from assets - often bought at peak prices, said Liz Crego, PwC's industry markets leader. That includes selling a small portion of a business that can be more valuable as a separate entity, she said. A more uncertain market has also led to a decline in cross-border deals to 16.9% of total activity, down from 18.7% in 2021. China-related deals, in particular, face heightened scrutiny and strategic reevaluation, PwC said. CAUTIOUSLY OPTIMISTIC The initial public offering (IPO) market has shown signs of life, with 31 traditional IPOs raising $11 billion through May. While April saw a pause due to tariff shocks, activity resumed in May and June, with fintechs like Chime, valued at $18.4 billion at its Nasdaq debut, leading the charge. Special purpose acquisition companies (SPACs) are also making a modest comeback, with over 50 of those publicly traded shell companies created to raise capital through IPOs. To unlock the $1 trillion held by PEs, the recession cloud over the U.S. would have to recede, Washington would need to provide clarity over tariffs and interest rates must decline, Smigel said. Nevertheless, PwC expects M&A activity to improve in the coming quarters, with pressure from the LP funds looking for returns and as assets are repriced. "Whether that is the back half of 2025 and into 2026, there are reasons to be optimistic," Smigel said. (Reporting by Sabrina Valle; Editing by Mrigank Dhaniwala)
