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Samsung chairman’s family to sell 17.7 million shares to cover tax, loan payment

Sale of shares to settle inheritance tax raising concerns over retail investor sentiment The mother and two sisters of Samsung Electronics (005930.KS) Chairman Jay Y. Lee plan to sell some 1.73 trillion South Korean won ($1.22 billion) worth of shares in the South Korean tech firm, the company said in a regulatory filing. The purpose of the … Read more

Nvidia Unveils First US-Made Blackwell Wafer, Boosting AI Chip Supply Chain and US Tech Leadership

Nvidia (NVDA.O) unveiled on Friday the first US-made Blackwell wafer, produced at TSMC’s (2330.TW) semiconductor manufacturing facility in Phoenix, as demand for AI chips accelerates. Companies have been racing to meet the broader AI industry’s voracious appetite for computing power as they develop AI technology that meets or exceeds human intelligence. The move “bolsters the US supply chain and onshores … Read more

Tremors felt across KP and Islamabad

PMD confirms no immediate reports of casualties or damage; authorities assess affected areas Strong tremors were felt in various parts of Khyber-Pakhtunkhwa and the federal capital, causing panic among residents who rushed out of their homes and offices. According to the Seismological Centre, the earthquake measured 5.6 on the Richter scale and originated at a … Read more

India to spend $7.4b on fighter jet engines

tribune

NEW DELHI: India expects to spend about Rs654 billion ($7.44 billion) to buy engines for fighter aircraft that are under development until 2035, according to estimates shared on Friday by an official, who leads the efforts to build a home-grown engine. The country will require about 1,100 engines for a variety of fighter jet programmes … Read more

Trump administration halts $11bn infrastructure works in Democratic states

Money includes $600 million for two aging federally owned Cape Cod canal bridges in Massachusetts The Trump administration will freeze a further $11 billion worth of infrastructure projects in Democratic states due to the ongoing government shutdown, White House budget director Russell Vought said on Friday. The US Army Corps of Engineers will pause work … Read more

Hermes designer Veronique Nichanian to depart after 37 years

photo reuters

PARIS: Veronique Nichanian, artistic director of menswear styles at Hermes, is departing after 37 years at the brand, Hermes confirmed on Friday. Her departure comes amid a sector-wide designer overhaul with dozens of high-end fashion brands recruiting new designers, including Matthieu Blazy, 41, at Chanel and Jonathan Anderson, 41, at Dior. Nichanian, 71, has designed … Read more