The World Bank Group categorizes global economies into four income groups: low, lower-middle, upper-middle, and high. These classifications, updated annually on July 1 based on the previous year's GNI per capita, are expressed in U.S. dollars using the Atlas method. This method, introduced in 1989, aims to provide a consistent...

Woods Bagot, an international architecture firm, has appointed Sarah Kay as its CEO, making her the first woman to hold this position in the company's history. She succeeds Nik Karalis, who served as CEO for nine years. Founded in 1869 in Adelaide, Australia, Woods Bagot now operates 17 studios across...

For MBA students, the current hiring landscape may seem daunting with varying industry challenges, but overall, holding an MBA remains advantageous in today’s market. This conclusion comes from the Graduate Management Admission Council’s (GMAC) annual survey of employers, released on July 1, indicating that economic worries have not lessened recruiters’...

Larry Culp is set to continue leading GE Aerospace, with the company's board of directors approving a new employment agreement on June 30. This extension ensures Culp will serve as CEO and board chair at least until the end of 2027, with a possibility to extend his term through 2028....

Nicholas Cumins has become the first CEO of the software company who is not a member of the Bentley family. His strategic vision emphasizes infrastructure resilience powered by artificial intelligence and focuses on the operations phase of the infrastructure lifecycle. This leadership transition, previously announced by Bentley Systems, Incorporated (Nasdaq:...

A recent report revealed that 45% of businesses have aimed to reduce staff and labor through new task automation processes since January 2022. Additionally, 85% of these businesses cited improving speed and quality of output as their primary goal. The potential of AI tools continues to be explored, but their...

Steve Ballmer has surpassed Bill Gates to become the world's sixth-richest individual. This achievement marks the first time Ballmer, the former CEO of Microsoft, has outpaced the company's co-founder in wealth. Thanks to a fruitful partnership with OpenAI, Microsoft shares have soared 21% this year, placing the company among the...

Goh Choon Phong, CEO of Singapore Airlines (SIA), received an annual remuneration of S$8.1 million for FY2024, marking a 20.6% increase from the previous year. This rise comes in a landmark year for the airline, which reported its highest-ever net profit. The annual report released on July 1 detailed Goh's...

South Korea's SK Hynix, the world's second-largest memory chip maker, plans to invest about $75 billion by 2028 to enhance its semiconductor business with a strong emphasis on artificial intelligence, according to a Sunday announcement from its parent company, SK Group. SK Group also aims to secure approximately $58 billion...