Technology company IBM on Monday announced plans to invest $150 billion in the US over the next five years as it seeks to boost domestic manufacturing.
IBM, whose headquarters are in New York, said the investment will include more than $30 billion in research and development to advance its US manufacturing of mainframe and quantum computers.
The investment will help fuel the US economy and bolster its role as world leader in computing, the company said in a statement.
“We have been focused on American jobs and manufacturing since our founding 114 years ago, and with this investment and manufacturing commitment we are ensuring that IBM remains the epicentre of the world's most advanced computing and AI capabilities,” IBM chairman and chief executive Arvind Krishna said.
IBM also emphasised its position as operating the world's largest fleet of quantum computer systems and said more than 70 per cent of global transactions by value run through US-manufactured IBM mainframes.
IBM's investment follows similar moves from Apple and Nvidia, each of which have pledged investments of $500 billion amid President Donald Trump's push to boost US manufacturing.
Under Mr Trump's "America-First" agenda, he has imposed tariffs on trading partners worldwide, which in turn has unsettled global supply chains.
IBM last week reported better-than-expected earnings at $1.60 per share (versus $1.40 expected) for the first quarter. It also beat revenue estimates at $14.54 billion.
The company said it expects full-year constant currency revenue growth of at least 5 per cent. Second-quarter revenue is forecast to be in the range of $16.4 billion to $16.75 billion.
Mr Krishna said at the time that shifting policies under Mr Trump's administration would make it easier for technology to support economic growth.
“We remain bullish on the long-term growth opportunities for technology and the global economy,” Mr Krishna said.
“While the macroeconomic environment is fluid, based on what we know today, we are maintaining our full-year expectations for revenue growth and free cash flow.”
COMPANY%20PROFILE
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The specs
Engine: 1.5-litre turbo
Power: 181hp
Torque: 230Nm
Transmission: 6-speed automatic
Starting price: Dh79,000
On sale: Now
How to apply for a drone permit
- Individuals must register on UAE Drone app or website using their UAE Pass
- Add all their personal details, including name, nationality, passport number, Emiratis ID, email and phone number
- Upload the training certificate from a centre accredited by the GCAA
- Submit their request
What are the regulations?
- Fly it within visual line of sight
- Never over populated areas
- Ensure maximum flying height of 400 feet (122 metres) above ground level is not crossed
- Users must avoid flying over restricted areas listed on the UAE Drone app
- Only fly the drone during the day, and never at night
- Should have a live feed of the drone flight
- Drones must weigh 5 kg or less
More coverage from the Future Forum
GAC GS8 Specs
Engine: 2.0-litre 4cyl turbo
Power: 248hp at 5,200rpm
Torque: 400Nm at 1,750-4,000rpm
Transmission: 8-speed auto
Fuel consumption: 9.1L/100km
On sale: Now
Price: From Dh149,900
Red flags
- Promises of high, fixed or 'guaranteed' returns.
- Unregulated structured products or complex investments often used to bypass traditional safeguards.
- Lack of clear information, vague language, no access to audited financials.
- Overseas companies targeting investors in other jurisdictions - this can make legal recovery difficult.
- Hard-selling tactics - creating urgency, offering 'exclusive' deals.
Courtesy: Carol Glynn, founder of Conscious Finance Coaching
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WHAT IS A BLACK HOLE?
1. Black holes are objects whose gravity is so strong not even light can escape their pull
2. They can be created when massive stars collapse under their own weight
3. Large black holes can also be formed when smaller ones collide and merge
4. The biggest black holes lurk at the centre of many galaxies, including our own
5. Astronomers believe that when the universe was very young, black holes affected how galaxies formed
Don't get fined
The UAE FTA requires following to be kept:
- Records of all supplies and imports of goods and services
- All tax invoices and tax credit notes
- Alternative documents related to receiving goods or services
- All tax invoices and tax credit notes
- Alternative documents issued
- Records of goods and services that have been disposed of or used for matters not related to business
