Microsoft set to cross $4trn valuation after strong earnings
Microsoft is on track to surpass a $4trn market valuation for the first time, following a strong earnings report and soaring demand for its Azure cloud services. Shares rose 8.5 percent in premarket trading on Thursday, lifting its value to $4.14trn, Firstpost reported.
The company projected a record $30bn in capital spending and continues to benefit from its investment in OpenAI, which has boosted its AI-powered offerings.
Microsoft has rebounded nearly 50 percent since April, overcoming trade tensions and solidifying its lead in the AI and cloud space, according to Firstpost.
Myanmar’s junta ends long-running state of emergency ahead of December elections
Myanmar’s military junta has ended emergency rule and announced elections for December, four years after seizing power in a coup, according to Firstpost.
Senior General Min Aung Hlaing, who led the 2021 takeover, will head an 11-member commission to oversee the vote. Critics have dismissed the move as a sham, warning it’s aimed at extending Hlaing’s grip on power.
Ahead of the announcement, the junta introduced a harsh election law with punishments of up to death for disrupting the process.
The civil war continues, with the military reportedly controlling just 20 percent of the country, Firstpost reported.
South Korea breaks 117-year record with 22 ‘tropical nights’ in July
South Korea has recorded 22 tropical nights in July—it’s highest since records began in 1908, the weather agency said Thursday, according to Al Jazeera.
A tropical night is when temperatures stay above 25°C overnight. In Seoul, one night didn’t dip below 29.3°C.
The country is facing an intense heat wave, with some areas hitting over 40°C. At least 16 people have died from heat-related illnesses, Al Jazeera reported.
Experts warn such extremes are becoming more common due to climate change.
Lithuanian PM resigns amid scandal, government in turmoil
Lithuanian Prime Minister Gintautas Paluckas has resigned following public protests and investigations into past misconduct. President Gitanas Nausėda confirmed the resignation on Thursday, according to Al Jazeera.
Paluckas, accused of abuse of office during his time as a city official in 2012, has denied wrongdoing, calling the allegations politically driven. His departure is expected to bring down the coalition government, prompting fresh talks.
The political crisis comes as Lithuania faces rising regional tensions, including upcoming joint military drills by Russia and Belarus, Al Jazeera reported.
