SHANGHAI: China’s first domestically built cruise ship set sail on its maiden voyage from Shanghai on Monday, a sign of the nation’s growing prowess in sophisticated construction as it seeks self-sufficiency in key technologies.

LONDON: Global stock markets mostly fell on Tuesday, the first trading day of the year, as a global equity rally stumbled. Meanwhile, the dollar rose while oil prices jumped as tensions ratcheted higher in the Red Sea.

NEW YORK: Oil giant Chevron said Tuesday it would take an accounting hit to part of its US assets and recognize some losses, resulting in an impact in its fourth quarter results of up to $4 billion.

PARIS: French bank BNP Paribas could pay out 600 million euros after reaching a deal to compensate clients judged to have been deceived over mortgages issued in Swiss francs.

GENEVA: Global trade growth is expected to pick up in 2024 accompanied by slow but stable GDP growth. Sectors that are more sensitive to business cycles should stabilize and rebound as inflation moderates and interest rates start to come down, a report issued by World Trade Organization said.

BEIJING: Chinese internet giant Baidu has said it was cancelling the planned multi-billion-dollar purchase of livestreaming platform YY Live, partly blaming its inability to get government approval.

GENEVA: The last month of 2023 was marked by equity and bond rallies. The economic outlook did not really change, but the language of Federal Reserve Chair Powell did.

KUWAIT: Seeking to enhance customer banking experience with top-notch offers and rewards, National Bank of Kuwait (NBK) has announced an exclusive partnership with X-cite by Alghanim Electronics, subsidiary of Alghanim Industries (Kutayba Alghanim Group), to provide NBK KWT Visa Infinite credit cardholders with exclusive offers that meet their expectations.

DHAKA: Jailed Nobel-winning microfinance pioneer Muhammad Yunus is celebrated around the world for helping millions of people out of poverty, but at home in Bangladesh he has a powerful enemy.