US says Hormuz to be toll-free under Iran deal

The United States said Monday that ships will move toll-free through the Strait of Hormuz under an Iran peace deal signed by President Donald Trump, and insisted Tehran would have to fulfill its commitments before getting any economic benefits. They included a possible $300 billion reconstruction fund for the war-battered country, but the release of funds will be "tied to performance," a senior Trump administration official said in a call with reporters. Trump, US Vice President JD Vance and Ira

2026-06-16 08:07:45:00

Iran media says negotiators seek $24b asset release in US deal

Iranian media said Tuesday that Tehran's negotiators were seeking the release of around $24 billion in frozen assets abroad as part of a process aimed at ending the war with the United States. The report by Tasnim news agency came as a top Iranian delegation was in Qatar, and after Tehran said it was finalising a 14-point framework for a deal on ending the war, which began with US-Israeli airstrikes against Iran on February 28. "Iran's frozen assets are to be released during the course of the ne

2026-05-26 20:37:38:00

Nvidia posts record $81.6b quarterly revenue on AI boom

SAN FRANCISCO (AFP) -- Chip giant Nvidia on Wednesday posted record quarterly revenue of $81.6 billion, blowing past Wall Street forecasts as insatiable demand for its artificial intelligence hardware powered another blockbuster quarter. The results for the first quarter of fiscal 2027, ending April 26, marked an 85 percent jump from the same period a year ago and a 20 percent rise from the prior quarter, underscoring Nvidia's status as the primary beneficiary of a global AI infrastructure build

2026-05-21 11:13:05:00

Google adds AI agent to search

MOUNTAIN VIEW, United States (AFP) -- Google on Tuesday showed off new plans to turn its famous search bar into an AI assistant that can book restaurants, track news and contact businesses -- just by asking a question. After three years of struggling to keep up with ChatGPT, Google is racing to roll out artificial intelligence tools that build on its grip over online search. The company's Gemini AI app now has 900 million monthly users, twice as many as last year. Its AI-powered search feature,

2026-05-20 10:29:13:00

N. Korea's Kim urges stronger frontline defenses against 'arch enemy'

The instruction came at a Sunday meeting convened by Kim with the "commanding officers of divisions and brigades across the entire army," the official Korean Central News Agency reported in an English dispatch. Kim "set forth plans for ... strengthening the first-line units and other major units in military and technical aspects as an important decision to more thoroughly deter war," the report said. He added that the army's "strategic action" would be "renewed" and that "a great change" would b

2026-05-18 08:23:04:00

US consumer inflation hits three-year high fueled by Iran war

WASHINGTON (AFP) -- Consumer inflation in the United States hit a three-year high in April, with the economic fallout of US President Donald Trump's Iran war rippling through the world's largest economy. The consumer price index rose 3.8 percent year-on-year, up from March's 3.3 percent figure, the US Bureau of Labor Statistics said Tuesday. Affordability has been a key political concern for Trump, and the stubbornly high prices -- fueled by energy costs and roiled supply chains due to the war a

2026-05-13 11:18:45:00

Spirit exit likely to lead to higher US airfares, experts say

NEW YORK (AFP) -- The demise of ultra low-cost carrier Spirit Airlines is expected to add further upward pressure to US fares, according to experts. Launched in 1992, the company is responsible for the "Spirit Effect" in which bare-bones service opens up travel to a broader slate of customers otherwise priced out of the market. Spirit's business model of stripped-down travel that includes no free meal service, baggage transport or other extras played a "unique and disruptive role in the industry

2026-05-10 10:33:07:00