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"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/
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Khaleej Times
31 minutes ago
- Khaleej Times
President Trump extends TikTok deadline for third time
US President Donald Trump will this week give TikTok a fresh 90-day extension to find a non-Chinese buyer, the White House said Tuesday, the third time he has put off a threatened ban on the popular app. A federal law requiring TikTok's sale or ban on national security grounds was due to take effect the day before Trump's January inauguration. "President Trump will sign an additional Executive Order this week to keep TikTok up and running. As he has said many times, President Trump does not want TikTok to go dark," Press Secretary Karoline Leavitt said in a statement. "This extension will last 90 days, which the administration will spend working to ensure this deal is closed so that the American people can continue to use TikTok with the assurance that their data is safe and secure." Trump, whose 2024 election campaign relied heavily on social media, has previously said he is fond of the video sharing app. "I have a little warm spot in my heart for TikTok," Trump said in an NBC News interview in early May. "If it needs an extension, I would be willing to give it an extension." Digital Cold War? Trump said at the time that a group of purchasers was ready to pay TikTok owner ByteDance "a lot of money" for the video-clip-sharing sensation's US operations. Trump has repeatedly downplayed risks that TikTok is in danger, saying he remains confident of finding a buyer for the app's US business. The president is "just not motivated to do anything about TikTok," said independent analyst Rob Enderle. "Unless they get on his bad side, TikTok is probably going to be in pretty good shape." Trump had long supported a ban or divestment, but reversed his position and vowed to defend the platform after coming to believe it helped him win young voters' support in the November election. Motivated by national security fears and belief in Washington that TikTok is controlled by the Chinese government, the ban took effect on January 19, one day before Trump's inauguration, with ByteDance having made no attempt to find a suitor. TikTok "has become a symbol of the US-China tech rivalry; a flashpoint in the new Cold War for digital control," said Shweta Singh, an assistant professor of information systems at Warwick Business School in Britain. The Republican president announced an initial 75-day delay of the ban upon taking office. A second extension pushed the deadline to June 19. Tariff turmoil Trump said in April that China would have agreed to a deal on the sale of TikTok if it were not for a dispute over his tariffs on Beijing. ByteDance has confirmed talks with the US government, saying key matters needed to be resolved and that any deal would be "subject to approval under Chinese law". Possible solutions reportedly include seeing existing US investors in ByteDance roll over their stakes into a new independent global TikTok company. Additional US investors, including Oracle and private equity firm Blackstone, would be brought on to reduce ByteDance's share in the new TikTok. Much of TikTok's US activity is already housed on Oracle servers, and the company's chairman, Larry Ellison, is a longtime Trump ally. Uncertainty remains, particularly over what would happen to TikTok's valuable algorithm. "TikTok without its algorithm is like Harry Potter without his wand -- it's simply not as powerful," said Forrester Principal Analyst Kelsey Chickering. Meanwhile, it appears TikTok is continuing with business as usual.
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
2 hours 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.
