Author: OMN AI

A mass immigration raid at a Hyundai facility in Georgia will delay its opening by at least two months. The company confirmed the setback after hundreds of foreign workers were detained. raid sparks international tension The raid has strained ties between Washington and Seoul. Many of the detained workers came from South Korea. President Yoon warned the crackdown could discourage future foreign investment in the United States. South Korean officials said the workers were dispatched temporarily to help launch the new factory. Hyundai chief executive José Muñoz told American media the raid will delay operations by two to three months…

Brazil’s Supreme Court convicted Jair Bolsonaro for attempting to stage a coup after losing the 2022 election. Three of five justices found him guilty on five counts; one justice has not yet voted. Justice Cármen Lúcia ruled for conviction Thursday, after Justice Luiz Fux voted to acquit the former president. The panel will determine Bolsonaro’s sentence once all five justices vote, potentially sending him to prison for decades. Justice Alexandre de Moraes ordered Bolsonaro under house arrest on August 5 for violating political messaging restrictions. International Reactions and Political Tensions The ruling deepens Brazil’s political divisions and may trigger backlash…

The European Central Bank left its key deposit rate unchanged at 2% during Thursday’s monetary policy meeting.Analysts widely expected the decision, as eurozone inflation remains close to the 2% target and growth shows resilience.The deposit facility rate, the main monetary policy tool, has stood at 2% since June after a 25-basis-point cut.The ECB has lowered rates eight times since June 2024, down from a record 4%.Rates for refinancing operations and the marginal lending facility also stayed unchanged at 2.15% and 2.40%.President Christine Lagarde said the medium-term inflation outlook remains stable around the 2% target.Eurozone inflation was 2% in June and…

US pharmaceutical giant Merck has abandoned a £1bn expansion in Britain. The company said the government is not providing enough support for the life sciences sector. The multinational, known in Europe as MSD, will shift research to the US and cut jobs in the UK. Executives accused successive governments of undervaluing vaccines and innovative medicines. Industry experts warned the decision could deter other global firms from investing in Britain. Government defends stance but admits more needed A government spokesperson defended current research spending but conceded more must be done. Officials highlighted recent programmes but acknowledged rising global competition. Drug makers…

WARSAW, Poland — Poland’s military confirmed Wednesday that its air force intercepted a series of Russian drones that entered the country’s airspace during nighttime strikes targeting Ukraine. Officials reported that 19 drones crossed into Polish skies between late Tuesday and early Wednesday. At least eight were destroyed by F-16 fighters operating with NATO support. Wreckage was found in multiple locations, including Wyryki-Kolonia, where one drone hit a residential building. No injuries occurred. Prime Minister Donald Tusk called the incursion a deliberate act of aggression and requested urgent consultations with NATO under Article 4. Flights at major airports in Warsaw, Rzeszów,…

Oracle co-founder Larry Ellison has overtaken Elon Musk as the world’s richest person after Oracle shares soared 40%.Ellison’s 41% stake is now worth $393bn, edging past Musk’s $384bn fortune, Bloomberg reported.Oracle’s value rose to $958bn, marking its biggest single-day increase and Ellison’s largest wealth jump on record.Musk and Ellison remain far ahead of Mark Zuckerberg and Jeff Bezos in the global rankings.Ellison, 81, also holds wealth through Tesla shares, a sailing team, the Indian Wells Open, and a Hawaiian island.He invested $1bn in Musk’s Twitter takeover and served on Tesla’s board from 2018 to 2022.Ellison supports Donald Trump and joined…

Donald Trump is urging the European Union to impose tariffs of up to 100 percent on China and India. He wants to ramp up pressure on Russian President Vladimir Putin and move toward ending the war in Ukraine. Trump presses for tougher measures against Russia The US president made his demand during a meeting with EU officials on Tuesday. Both sides explored new ways to damage Russia’s economy more deeply. According to a source, Trump argued for maximum tariffs aimed at China and India. He had pledged to resolve the conflict on the “first day” of his presidency. Yet peace…

Hong Kong’s property market downturn is hitting global investment firms hard, with Schroders now under growing pressure as banks move to seize assets linked to its real estate portfolio. Plunging property values, weak rental demand, and a lack of recovery signs have created a challenging environment that is reshaping the city’s once-booming commercial sector. According to government data, average prices for office buildings in Hong Kong have fallen by 48% from their 2018 peak, while retail space values are down 39%. The steep decline has eroded the collateral value for many loans, prompting banks to act swiftly to reduce exposure…

Hong Kong’s new doctors program allows physicians to divide their time between patient care, teaching, and research. The initiative aims to tackle future staff shortages and encourage medical innovation. Health Secretary Lo Chung-mau said the program will help hospitals link clinical work with academic development. “A doctor’s clinical work is inextricably linked with teaching and research. More clinical experiences can also be translated into new studies,” he said in a statement. The dual-track program, announced late last year, is supported by public health research funding. Some funds are set aside for infectious disease studies. Doctors in the program will have…

Afghanistan dominated Hong Kong by 94 runs in the Asia Cup 2025 opener in Abu Dhabi. Azmatullah Omarzai starred with a blistering 20-ball fifty to secure the victory. Afghanistan won the toss and chose to bat first, scoring 188 for 6. Opener Sediqullah Atal anchored the innings with an unbeaten 73 runs. The fifth-wicket partnership of 82 between Atal and Omarzai proved crucial. Omarzai smashed 53 runs off just 21 balls, including two fours and five sixes, marking the fastest T20I fifty by an Afghan batter. Veteran Mohammad Nabi supported Atal with 33 runs, helping Afghanistan recover after losing early…